Stocks that will see action today: 13 March 2024

The market regulator has ordered Vedanta Ltd to pay ₹77.62 crore to Scottish explorer Cairn for delay in payment of dividends, and also barred the firm’s entire board, including his brother Navin and daughter Priya, from accessing the capital market for the same. In a stock exchange filing, Vedanta said it received the order on Tuesday. “The company is in the process of taking appropriate legal steps in respect of the same.”

British multinational BAT PLC on Tuesday said it plans to sell up to 3.5 per cent stake in ITC Ltd to institutional investors through a block trade. In a statement, British American Tobacco PLC, the single largest shareholder in ITC (29 per cent stake), said its wholly-owned subsidiary Tobacco Manufacturers (India) Ltd (TMI) intends to sell up to 43,68,51,457 ordinary shares in the Indian diversified entity to institutional investors by way of an accelerated bookbuild process (block trade), subject to customary closing conditions.

Dr Reddy’s Laboratories Ltd on Tuesday said it has received a tax demand with penalty totalling more than ₹74.22 crore from GST authority for wrongly availing of credit of input tax. In a regulatory filing, the company said it has received an order seeking demand, including interest and penalty, from the Additional Commissioner of Central Tax, Hyderabad GST Commissionerate.

Hindustan Construction Company has launched a ₹350-crore rights issue and fixed the record date as March 16. Investors will be eligible for one rights share for every nine shares of HCC they hold as of the record date. The issue price is ₹21 and the issue will open on March 26 and end on April 2.

Amid rising concern over a brewing bubble in small- and mid-cap stocks, ICICI Prudential Asset Management Company has stopped lumpsum investment in mid- and small-cap schemes. It has also restricted fresh SIPs/ STPs to ₹2 lakh per month from March 14. The decision to temporarily discontinue subscriptions in the schemes has been taken by the trustees keeping the interest of the investors protected from sudden market movements, it said.

evfin has partnerd with Muthoot Finance to expand electric two-wheeler financing across India. evfin is a 100% EV-focused lending platform of Greaves Finance.

Shalby has entered into an agreement to acquire 100% stake in Healers Hospital for ₹104 crore.

Signature Global has launched a new project under the Affordable Housing Policy in Gurugram through its arm. The project consists of 235 units spread across 1.66 acres.



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