Buzzing Stocks: HUL, Adani Enterprises, Lupin, Jyoti, and others in news today

Hindustan Unilever: The company has entered into definitive documents to acquire 19.8% shareholding of Nutritionalab. This is a strategic investment by the company to enter the health and wellbeing category. The transaction cost is Rs 70 crore.

Triveni Engineering & Industries: Promoter Dhruv Manmohan Sawhney has offloaded 1.7 crore shares or 7% stake in Triveni Engineering via open market transactions, at an average price of Rs 280.75 per share. However, Goel Anil Kumar acquired additional 18 lakh shares in the company at an average price of Rs 280 per share. Societe Generale bought 14.73 lakh shares and Plutus Wealth Management LLP purchased 40 lakh shares at same price.

Adani Enterprises: The company has acquired 100% stake in Alluvial Mineral Resources, from Adani Infra (India). Alluvial Mineral Resources is engaged in mining of minerals and ores and other allied activities.

Lupin: The pharma major has appointed Spiro Gavaris as President of US generics business. He most recently served as President of specialty generics business at Mallinckrodt Pharmaceuticals and the president of US injectables at Hikma.

Shalby: Promoter Dr Vikram Indrajit Shah has bought additional 30,000 shares or 0.03% stake in the company via open market transactions on December 7. With this, Vikram’s shareholding increased to 7.27%, up from 7.24% earlier.

Max Financial Services: The company has completed acquisition of balance 5.17% stake in Max Life Insurance Company, from Mitsui Sumitomo Insurance Company, Japan. After this transaction, its shareholding in Max Life stands increased to 87%.

Sun Pharmaceutical Industries: The company in its clarification note after import alert for Halol facility says it is not revising the revenue guidance for current financial year and also there will be no impact on specialty revenues. The US supplies from Halol contributed approximately 3% of consolidated revenues for FY22, including sales from exempted products, it added. The USFDA has excluded 14 products from this Import Alert subject to certain conditions.

Jyoti: The company has secured order for Khalwa micro irrigation project from Navayuga Engineering Company. The order worth Rs 21.25 crore includes designing, engineering, manufacturing, testing & supply of large capacity vertical pumps and HT motors for Water Resource Department (WRD).

RateGain Travel Technologies: Subsidiary RateGain Technologies, UK has incorporated RateGain Technologies LLC in Sharjah, UAE. The objectives of incorporation of company in UAE include data processing services, software as a service, marketing technology services, and distribution as a service. This new entity formation would strengthen the company’s organic growth strategy.

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