Bharat Forge, Shoppers Stop, Gokaldas, Lotus Chocolate are in Focus

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The stock benchmark is likely to open flat on Wednesday, as indicated by the SGX Nifty, quoted at 17,800.

Globally, US stocks were tepid overnight, as Federal Reserve Chairman Jerome Powell reiterated on a second day of testimony before Congress that he will stick to deeper interest rate hikes.

While the Dow Jones closed flat, the S&P 500 and Nasdaq Composite gained 0.4%.

SBI: The bank has raised Rs 3,717 crore in its third AT-1 bond issue this financial year at a coupon rate of 8.25%.

Bharat Forge: The company, through its wholly-owned subsidiary Kalyani Powertrain, has opened an e-bike manufacturing facility at MIDC Chakan, Pune. The plant has an annual production capacity of 60,000 and can be expanded to 100,000 units annually. The unit will assemble e-bikes for Tork Motors, which is 64.29% owned by Kalyani Powertrain.

Adani Green/Adani Transmission: On March 6, the promoters pledged 0.99% and 0.76% of the equity to SBICAP Trustee, respectively.

SeQuent Scientific: The company has closed the share purchase agreement to acquire 100% equity in Tineta Pharma. In November 2022, it announced the acquisition of Tineta Pharma, but the deal has not yet materialised.

Shoppers Stop: Singapore-based Shiseido Asia Pacific Pte Ltd has signed a strategic distribution partnership with Global SS Beauty Brands, a subsidiary of Shoppers Stop, to expand its brand footprint in India. Through this partnership, Shiseido Group will launch its global makeup brand NARS Cosmetics (headquartered in New York), in major Indian cities in the second half of 2023.

Ramkrishna Forgings: The company has established a wholly-owned subsidiary, RKFL Engineering Industry, to implement the resolution plan to acquire JMT Auto under the Corporate Insolvency Resolution Procedure (CIRP). RKFL Engineering will be engaged in forging, stamping, stamping and roll forming of metals and powder metallurgy.

ISMT: R Poornalingam has resigned as an independent director of the company, effective March 8. He resigned for personal reasons.

Gokaldas Exports: Clear Wealth Consultancy Svcs LLP may sell its 8.25% stake in Gokaldas Exports in a block deal today, according to a report. The size of the block deal was close to Rs 234 crore.

Arunjyoti Bio Ventures: The company is setting up two beverage plants in Telangana and Andhra Pradesh.

KEC International: The liquidation process of KEC Global FZ LLC based in the United Arab Emirates has been completed, and the entity has been deregistered from the records of the local regulator in its place of incorporation.

Lotus Chocolate Company: The revised open offer schedule for Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) to acquire an additional 26 per cent stake from Lotus Chocolate shareholders will open on March 16 and close on March 31.

Aptus Value Housing Finance: The company clarified that it is not involved in any negotiations/events reported in the sale of a stake to Chola Invst.

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