Buzzing Stocks | Tata Power, Ashoka Buildcon, Kanoria Chemicals and others in news today

“Stocks to Watch: Check out the companies making headlines before the opening bell”.

KFin Technologies: The financial services platform will make its debut on the BSE and NSE on December 29. The issue price has been fixed at Rs 366 per share.

Tata Power Company: Subsidiary Tata Power Renewable Energy has received ‘letter of award’ to set up 255MW hybrid power project (wind and solar) for Tata Power Delhi Distribution, in Karnataka. Tata Power Delhi Distribution is a joint venture of Tata Power and the Government of NCT of Delhi. The project will be commissioned within 24 months from the PPA execution date.

Ashoka Buildcon: The company has received three projects worth Rs 754.57 crore from Madhya Pradesh PoorvKshetra Vidyut Vitaran Company.

Hariom Pipe Industries: France-based financial services company Societe Generale sold 1.5 lakh shares or 0.58% stake in the company via open market transactions, at an average price of Rs 375.48 per share. Societe Generale had held 3.12 lakh shares or 1.23% stake in the company as of September 2022.

Garware Technical Fibres: The company closed its share buyback issue after buying 2.4 lakh shares at a price of Rs 3,750 per share through the tender offer process.

Tata Steel: The Tata Group company has acquired 1.15 crore equity shares of subsidiary Tata Steel Advanced Materials at an issue price of Rs 12.81 per share, with the aim to grow business of new materials business under Tata Steel Advanced Materials. The total buying price is Rs 14.80 crore and on completion of said acquisition, Tata Steel Advanced Materials will continue to be a wholly owned subsidiary of Tata Steel.

Bank of India: The public sector lender infused capital of Rs 1.13 crore in PSB Alliance as a part of strategic investment. With this, the bank raised stake in PSB Alliance to 8.33%, from 7.14% earlier.

Kanoria Chemicals & Industries: The company will commence commercial production of the phenolic resin plant at Ankleshwar in Gujarat, on January 1, 2023. The production capacity is 6,500 MTPA.

Bambino Agro Industries: The company started commercial production at new factory at Gohana in Sonipet. It has expanded operations with an additional capacity of 2,100 million tonnes per month (MT/month). The total production capacity of all units of the company has been increased from 1,400MT per month to 3,500MT per month.

JSW Energy: The power commpany has completed acquisition of Ind-Barath Energy (Utkal) via corporate insolvency resolution process (CIRP) after the NCLT approval to its resolution plan. Ind-Barath Energy (Utkal) is implementing a 700 MW (2 x 350 MW) thermal power plant at Jharsuguda, in Odisha.

Wipro: The IT services company has raised its stake in Encore Theme Technologies to 100% after completing the acquisition of remaining 3.3% stake. Now Encore Theme has become a wholly owned subsidiary of Wipro

Spandana Sphoorty Financial: The company has approved the transfer of stressed loan portfolio including written off loans of Rs 323.08 crore outstanding as on September 2022 to an Asset Reconstruction Company pursuant to Swiss Challenge Method for Rs 95 crore.

Container Corporation of India: Ajit Kumar Panda takes charge as director of Container Corporation of India

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