Top stocks in focus: Hero Motocorp, Kotak Bank, Ruchi Soya, Filatex India, CSB Bank

24 Mar 2022 , 07:38 AM

A visit by India’s income tax authorities to the offices of motorcycle maker Hero Motocorp Ltd and the home of its chief executive, Pawan Munjal, on Wednesday was part of a “routine inquiry”, the company said.

Canada Pension Plan Investment Board is expected to sell stake via a bulk deal on March 24 to make a partial exit from Kotak Mahindra Bank. The Canadian pension fund will offload a 1.41% to 2.02% stake in the private lender at Rs 1,681.26-Rs 1,769.75 per share through the bulk deal. The deal size is 28 million shares, which would further include an additional 12 million shares – taking the total deal size to 40 million.

Ruchi Soya Industries has garnered Rs1,290 crore from anchor investors ahead of its further public offering (FPO) that opens for public subscription on Thursday.

Filatex India board on March 29 will consider the proposal for the buyback of fully paid-up equity shares of the company.

The Reserve Bank of India has approved the appointment of Pralay Mondal as interim Managing Director and CEO of CSB Bank. The appointment will be for a period of three months with effect from April 1, 2022, or till the appointment of a regular Managing Director & CEO in the bank, whichever is earlier.

GPT Infraprojects has bagged an order valued at Rs118 crore. This contract is a joint venture of which GPT’s share is 51 percent.

Triveni Turbine subsidiary Triveni Turbines DMCC has signed an agreement for the acquisition of 70 percent equity shares of TSE Engineering Pty Ltd (TSE). TSE is registered under the laws of South Africa and is engaged in high precision engineering repairs and servicing of machinery in sugar and other industrial plants in the South African Development Community (SADC) region.

Nelco and Omnispace announced a strategic cooperation agreement to enable and distribute 5G non-terrestrial network (NTN), direct-to-device satellite services. The collaborative effort will expand the reach of 5G using satellite communication throughout India and South Asia.