Wipro, Reliance, Ajanta Pharma, Infosys, IRB Infra, REC are in Focus

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On Friday, equity benchmarks will likely extend losses from the previous session on weak global signals. As noted by the SGX Nifty, quoted at 17,480, the Nifty could open more than 100 points lower.

Overnight, US markets tumbled on renewed fears of a rate hike. The Dow, Nasdaq Composite and S&P 500 fell 2%.

RIL: The company’s subsidiary, Reliance Polyester, has acquired the polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex. Reliance Consumer Products launched the beverage brand ‘Campa’.

Bank of Baroda: The bank’s board has approved divesting up to 49% of the BOB Financial Solutions unit.

REC: At its meeting on Thursday, the board of state-run non-bank financial corporation REC approved a market borrowing scheme of Rs 1.2 lakh crore for 2023-24.

Wipro: Menzies Aviation has selected Wipro to transform its air cargo services.

Infosys: The company partnered with mobility specialist ZF to transform its multi-echelon supply chain with SAP Integrated Business Planning (SAP IBP) and Infosys Cobalt.

Swan Energy: Through its subsidiary Triumph Offshore Private (TOPL), Swan Energy has signed an agreement to lease its floating storage regasification vessel to state-owned gas and LNG company Turkey’s Botas.

Zydus Lifesciences: The company has received final approval from the USFDA for erythromycin tablets to treat various bacterial infections.

PNC Infratech: The company has secured two new mixed annuity highway projects with a total tendered project cost of Rs 2,004.43 crore.

Dredging Corp: The company has secured an annual maintenance dredging contract worth Rs 64 crore for FY23 from Southern Naval Command Kochi. The contract includes dredging 1.5 million cubic meters per annum of the Naval Channel at Ernakulam, Cochin.

NBCC (India): It has received work orders worth Rs 229.81 crore for constructing a new campus for IIFT in Kakinada.

IRB Infra: The road infrastructure developer reported a toll revenue of Rs 352 crore in February 2023, a 27% increase compared to last year’s total toll revenue of Rs 277.5 crore. Its private InvIT subsidiary, IRB Infrastructure Trust, recorded a 12.7% year-on-year rise in toll revenue to Rs 75.52 crore in February 2023.

Mukand: The company has signed a share purchase agreement to sell a 5.51% stake in Mukand Sumi Special Steel to Jamnalal Sons. Mukand Sumi Special Steel is a joint venture of Bajaj Group, and Jamnalal Sons is the promoter group entity of the company.

Apcotex Industries: The company said the multi-purpose extension of its plant in Taloja, Maharashtra, to manufacture synthetic latex emulsion polymers has been commissioned and started commercial production.

IFL Enterprises: The company said its multi-purpose extension to produce synthetic latex emulsion polymers at Taloja, Maharashtra, is commissioned and has commenced commercial production.

Welspun Corp: Its subsidiary, Welspun DI Pipes, has been awarded the ‘Kitemark’ certificate from BSI UK by EN 545 and ISO 2531 standards for sizes ranging from 100 to 1,000 DN.

EP Biocomposites: The company has ventured into producing laminated doors, a companion product to the FRP doors it currently makes. The company has successfully tested the product for production, and it is ready for commercial release.

Ajanta Pharma: The board will meet today to consider the share buyback proposal.

HAL: The board will meet today to consider declaring a second interim dividend.

PSP Projects: The company has received work orders worth Rs 123.38 crore in institutional, industrial and residential categories. With the above orders, the total order inflow for the current financial year was Rs 3,415.97 crore.

Hind Rectifiers: The rectifier equipment and semiconductor equipment maker has started commercial production at its new manufacturing facility in Nashik, Maharashtra. The benefits of these new lines will come into play from 2023-24.

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