Top Share Market News: Acquisitions, Investments, and Strategic Developments

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Key Market Movements: Major Acquisitions, Strategic Investments, and Corporate Milestones

Team FS

27/Jun/2024

Key Points:

Latent View Analytics Acquires Decision Point Private Limited: A strategic acquisition aimed at expanding its market presence.
PI Industries' Offer to Acquire Plant Health Care Plc: A significant investment to enhance its product portfolio.
Airtel's Spectrum Acquisition: Securing 97 MHz spectrum for Rs 6857 crore to bolster its telecom services.

Latent View Analytics Limited

Latent View Analytics has received board approval for the acquisition of up to 100% of the equity share capital in multiple tranches of Decision Point Private Limited. This strategic move is marked by the execution of Share Purchase Agreement (SPA) and Shareholders Agreement (SHA) between Latent View Analytics Limited, Decision Point Private Limited, and its selling shareholders. This acquisition is set to enhance Latent View’s capabilities and market presence in the analytics domain.

PI Industries

PI Industries announced its offer to acquire Plant Health Care Plc for a purchase consideration of approximately 32.8 million pounds. The acquisition will be funded via QIP proceeds and is expected to be completed by the second quarter of FY25, subject to UK regulations. This strategic acquisition aims to strengthen PI Industries’ portfolio in plant health and agricultural solutions.

DUROPLY

DUROPLY celebrates its 68th year of excellence and legacy in plywood manufacturing. This milestone underscores the company's long-standing commitment to quality and innovation in the industry.

Airtel

Bharti Airtel has acquired 97 MHz spectrum in the 900 MHz, 1800 MHz, and 2100 MHz frequency bands for Rs 6857 crore through an auction. This spectrum is secured for 20 years and will help Airtel enhance its telecom services across key circles. Additionally, Airtel successfully renewed spectrum that was expiring in 2024, ensuring continuity and improvement of its network capabilities.

BGR Energy Systems Limited

BGR Energy Systems Limited has scheduled a board meeting on July 4, 2024, to discuss various avenues for raising capital, including rights or preferential issue of shares or debentures. This move aims to bolster the company’s operational capabilities.

SONA BLW Precision Forgings Limited

SONA BLW Precision Forgings Limited received certification for its traction motor for electric two-wheelers under the Production-Linked Incentive Scheme for the Automobile and Auto Component Industry (PLI-Auto) from the Ministry of Heavy Industries. This certification highlights SONA BLW’s commitment to advancing electric mobility solutions.

RAMKY Infrastructure Ltd

RAMKY Infrastructure Ltd received a Notification of Awards (NOA) from PowerGrid Energy Services Limited for the supply of plant contracts and installation services for loss reduction work under the Results-Linked Distribution Sector Scheme (RDSS) in Leh District. This project aims to improve the power distribution infrastructure in the region.

Tata Communications Limited

Tata Communications Limited announced the hive-off of its identified new edged digital services business to its wholly-owned subsidiary, Novamesh Limited, on a slump sale basis. This strategic move is aimed at streamlining operations and enhancing focus on digital services.

Nibe Limited

Nibe Limited has incorporated a subsidiary company named Nibe Space Private Limited on June 25, 2024. This incorporation is part of the company’s expansion strategy to explore new business opportunities.

Exide Industries Limited

Exide Industries Limited invested Rs. 49,99,99,968 in its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL), on rights basis. With this investment, Exide’s total investment in EESL stands at Rs. 2,502.24 crore, reflecting its commitment to energy solutions.

Vantage Knowledge Academy Limited

Vantage Knowledge Academy Limited has fixed July 12, 2024, as the record date for determining the eligibility of shareholders for the split/sub-division of shares from Face Value of Rs. 10/- each to Face Value of Rs. 1/- each, fully paid-up.

Dr. Reddy’s Laboratories Limited

Dr. Reddy’s Laboratories SA, Switzerland, a wholly-owned subsidiary of the company, entered into a definitive agreement with Haleon plc to acquire consumer healthcare brands in the Nicotine Replacement Therapy category outside the United States. This acquisition aims to enhance Dr. Reddy’s consumer healthcare portfolio.

R.P.P Infra Projects Limited

R.P.P Infra Projects Limited received a letter of acceptance for a new project involving the design, engineering, and construction of a new district jail in Hathras, Uttar Pradesh, on EPC mode at a contract price of Rs. 152.11 crores including GST. This project is part of the company’s expansion in infrastructure development.

Ahasolar Technologies Limited

Ahasolar Technologies Limited received a work order for the development of an intuitive rooftop-solar feasibility portal and voice assistance/chatbot on the BYPL website from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The consultancy service is priced at around ₹ 35 lacs.

KEC International Limited

KEC International Limited secured new orders worth Rs. 1,025 crores in T&D and cables businesses. These orders reflect the company’s strong position in the infrastructure sector.

SJVN Ltd

SJVN Ltd, through its wholly-owned subsidiary SJVN Green Energy Limited, signed a Memorandum of Understanding (MoU) with AM Green Ammonia (India) Private Limited. This partnership aims to explore opportunities in green energy and sustainability.

ROSE MERC.LTD

ROSE MERC.LTD partnered with Mazgaon Cricket Club (MCC) to present the second season of the Mumbai Cricket Excellence 2024 award night. This event aims to honor emerging players and unsung heroes in cricket.

RVNL

RVNL, in a joint venture with KRDCL, received a letter of acceptance from Southern Railway for the provision of automatic signaling on the Ernakulam JN (ERS) - Vallattol Nagar (VTK) section on B-Route of Thiruvananthapuram Division in Southern Railway. The order size is Rs. 156.47 crores with an execution period of 750 days.

Sakuma Exports Limited

Sakuma Exports Limited will hold a board meeting on July 1, 2024, to discuss the proposal of raising funds. This initiative is aimed at enhancing the company’s financial stability.

Supreme Industries Ltd

Supreme Industries Ltd received a letter of acceptance from Indian Oil Corporation Limited for the supply of approximately 231,035 number of 10.0 Kg composite cylinders. The total supply is valued at around Rs. 55 crores.

Telecom Stocks

Bharti Airtel acquired 97 MHz spectrum in the 900 MHz, 1800 MHz, and 2100 MHz frequency bands for Rs 6,857 crore, while Reliance Jio bought 14.4 MHz of spectrum worth Rs 974 crore and Vodafone Idea secured 30 MHz of spectrum worth Rs 3,510 crore. These acquisitions are set to enhance the telecom services of these companies.

JSW Energy

JSW Energy’s unit, JSW Neo Energy, signed a power purchase agreement for 1,325 megawatts of renewable energy projects likely to be commissioned in the next 21–24 months. This agreement underscores JSW Energy’s commitment to renewable energy.

Navin Fluorine

Navin Fluorine’s board will meet on June 29 to discuss a Rs 750 crore fundraise. This initiative is aimed at supporting the company’s growth and expansion plans.

Patanjali Foods

Baba Ramdev and Acharya Balkrishna of Patanjali Foods received a notice from Kozhikode Court over advertisements related to ayurvedic medicines from Divya Pharmacy. They have been asked to appear in court on July 6.

These stories reflect the dynamic nature of the share market, with companies making strategic moves to strengthen their market positions and drive growth. Stay tuned for more updates and insights on the latest market developments.

For more detailed news and analysis, visit Finance Saathi.

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