Stocks Under Focus: Cipla, NTPC, Mahanagar Gas, Navkar Corp & More

  • Stock Market News
Stocks Under Focus: Cipla, NTPC, Mahanagar Gas, Navkar Corp & More

By Malvika Gurung -- Cipla (NS: CIPL ): Ashish Adukia has been appointed as the global CFO and key managerial personnel of the pharmaceutical giant, while Dinesh Jain’s services as an interim CFO have been relieved and he shall continue to serve as Senior VP and Head-Corporate Finance.

Hindustan Zinc (NS: HZNC ): Five investment bankers, namely ICICI Securities (NS: ICCI ), Axis Capital, Citigroup (NYSE: C ) Global Markets, HDFC Bank (NS: HDBK ) and IIFL Securities have been selected to manage the sale of a 29.53% residual stake held by the government in the mining company.

NTPC (NS: NTPC ): The state-owned giant has floated a tender to raise a term loan of Rs 5,000 crore from financial institutions, which can be submitted by 1100 hours on August 31.

HDFC Asset Management Company Ltd (NS: HDFA ): Promoter BRDN Investment Management has offloaded a 5.58% stake or 1.19 crore equity shares in the company for Rs 2,303.4 crore through an open market transaction at Rs 1,935.6 apiece.

Mahanagar Gas (NS: MGAS ): The company has pared the prices of piped natural gas and CNG after the government increased the allocation of domestically produced natural gas.

Bajaj Hindustan (NS: BJHN ): SBI (NS: SBI ) has filed an insolvency petition against the country's largest sugar producer.

Navkar Corporation (NS: NAVR ): Subsidiary of Adani (NS: APSE ) Ports & SEZ, Adani Logistics has signed an agreement to acquire ICD Tumb from the company for Rs 835 crore, stated PTI.

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