Stocks in news: Hindustan Zinc, UGRO Capital, Delhivery, M&M, Vishal Mega Mart
PNB completed the sale of its entire stake (20.9% equity) in associate company, 'Mis India SME asset reconstruction company' for Rs 34 crore.
Indian markets experienced a slight downturn, with several companies making headlines. Vedanta plans to sell shares in Hindustan Zinc, while UGRO Capital acquired Profectus Capital. Delhivery's acquisition of Ecom Express received CCI approval, and M&M also secured approval for the SML Isuzu acquisition. Polycab India secured a significant contract with BSNL for the BharatNet project.
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Markets remained lackluster and ended nearly half a percent lower, continuing the ongoing consolidation phase. In today's trade, shares of UGRO Capital Vishal Mega Mart among others will be in focus due to various news developments.Promoter Vedanta is expected to sell shares worth Rs 7,500 crore in Hindustan Zinc Ltd (HZL) through block deals, according to report.UGRO Capital, the DataTech NBFC focused on MSME lending, has acquired Profectus Capital, for Rs 1400 crore, company said on Tuesday.The CCI approved Delhivery's proposed acquisition of a controlling stake in Ecom Express for about Rs 1,407 crore, marking a major consolidation move in India's logistics sector.Sammaan Capital reappointed Naveen Uppal as chief risk officer(CRO) of the company for three years with effect from June 17.M&M received unconditional Competition Commission Of India (CCI) approval for SML Isuzu acquisition and open offer. Polycab India has executed a contract worth Rs 6,447.54 crore with BSNL to act as the project implementation agency (PIA) for the BharatNet project in Karnataka, Goa, and Puducherry.Promoter Samayat Services LLP sold 19.6% equity in the company for about Rs 10,220 crore. Buyers include SBI Mutual Fund, Kotak Mahindra Mutual Fund and HDFC Mutual Fund.RailTel received letter of intent (LoI) from Zoram Electronics Development Corporation for a project worth Rs 43.99 crore.PNB completed the sale of its entire stake (20.9% equity) in associate company, 'Mis India SME asset reconstruction company' for Rs 34 crore.Electrosteel Castings to shut down its MBF production facility at Khardah works unit and main plant for 10-12 days from June 18 for maintenance work.
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