Stocks In News On 3rd March, 2021

IRCON International Government proposes to sell 4.7 crore shares or 10% of the total equity through an offer for sale
The government will also have a greenshoe option to sell an additional 2.82 crore shares or 6% of the total equity
The floor price of Rs 88 per share is a 10.2% discount to Tuesday's closing price
The OFS for non-retail investors opens March 3, while for retail investors, it opens March 4
As per the December quarter shareholding pattern, the government held 89.18% stake in the company

Jindal Steel
Jindal Steel & Power Ltd has submitted bids to acquire Anil Ambani's Reliance Naval and Engineering Ltd
It can be a captive client for Jindal's shipbuilding plates

Motherson Sumi Systems
CRISIL reaffirmed long term credit rating as AA+ and revised outlook from Negative to Stable

Jaiprakash Power Ventures
The company has approved disinvestment of 74% shareholding in the Jaypee Powergrid (A Joint Venture Company of Powergrid Corporation of India and the company)

Reliance Industries, Bharti Airtel, Vodafone Idea
Reliance Jio acquires 488.35 MHz of spectrum for Rs 57,122.65 crore, Bharti Airtel 355.45 MHz at Rs 18,698.75 crore, and Vodafone Idea with 11.80 MHz for Rs 1,993.40 cr

Engineers India
Indian Oil Corporation has awarded the project for execution of consultancy for overall project management and EPCM Services (Phase II) for capacity expansion of Panipat refinery to Engineers India
The total awarded order value is around Rs 600 crore with a total project schedule of 40 months for mechanical completion

Cipla
Received final approval from the United States Food and Drug Administration (USFDA) for Sumatriptan Nasal Spray, indicated for the treatment of migraine attacks

Bharat Forge, RK Forgings
Class 8 Truck orders in the U.S. rise 209% to 44,000 units in February from 14,243 units during the same period last year
On a month-on-month basis, orders were up 2.8% as compared to 42,800 units in January
February is the fifth consecutive month where orders were higher than 40,000 units.

Bank of Baroda
Approves closer of the QIP issue and sets an issue price of Rs 81.70 per share
The issue price is a 5% discount to the floor price of Rs 85.98 per share

JB Chemicals & Pharmaceuticals
In an analyst call, the company said that the organic growth will sustain at a higher pace than industry. Infrastructure and resources available will support growth in near and mid-term
The company also plans to ramp up its Field Force Productivity by 12-14% from current levels
Plans an expansion of bigger brands beyond tier-2 towns and 6-8 annual launches

Kirloskar Ferrous Industries
The Board of Directors has declared an interim dividend of Rs 2 per equity share of Rs 5 each for the financial year 2020-2021
The record date has been fixed as March 13, 2021

Mahindra Lifespace Developers
The company has launched its residential project 'Aclove', at Chandivali in Mumbai
The project is registered with Maharashtra RERA

Spandana Sphoorty Financial
A meeting of the Management Committee of the Board of Directors is scheduled on March 5 to consider and approve, the issue and offer of Non-Convertible Debentures on a private placement basis

V-Mart Retail
The company has opened a new store in Bihar and has also closed two stores in Assam and Uttar Pradesh respectively
With this the total number of stores of the company stands at 273

Zuari Agro Chemicals
The company has executed Business Transfer Agreement with Paradeep Phosphates on March 1, 2021 for sale of fertiliser plant in Goa on a slump sale basis

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