NSE BSE Stock Updates - Business Announcements, a deep analysis

Moneyboxx Finance Ltd has announced a Board of Directors meeting scheduled for July 17, 2024, to consider raising funds through the issuance of equity shares, convertible warrants, or other securities via a preferential issue on a private placement basis. This action is subject to necessary regulatory and statutory approvals. Additionally, the Board may convene an Extra-ordinary General Meeting or postal ballot to seek shareholder approval if required. The trading window for dealing in the company's securities has been closed since July 1, 2024, and will remain closed until 48 hours after the declaration of the financial results for the quarter ending June 30, 2024.

PC Jeweller Ltd. has announced the approval of raising funds up to ₹**2705.14 crores** through the preferential issue of 48.13 crore fully convertible warrants. The warrants will be allotted to both the "Promoter Group" and "Non-Promoter, Public Category" investors. An Extra-Ordinary General Meeting (EGM) is scheduled for August 8, 2024, to seek members' approval for this preferential issue. Additionally, CARE Ratings Limited has been appointed as the Monitoring Agency to oversee the use of the proceeds from this issue.

Lesha Industries Ltd. is set to conduct a Rights Issue of up to 176,000,000 equity shares at an issue price of ₹2.80 per share, raising a total of ₹49.28 crore. The Rights Issue ratio is 8 shares for every 5 shares held as of July 12, 2024.

The company, originally incorporated as Lesha Finstock Private Limited in 1992, has undergone several name changes, finally becoming Lesha Industries Limited in 2009.

The company primarily trades in various steel products and chemical products.

The Board of Directors includes Ashok Chinubhai Shah as Managing Director and Shalin Ashok Shah as Non-Executive Director.

TCC Concept Ltd held a Board Meeting on July 13, 2024, where they approved the valuation report from Mr. Bhavesh M Rathod and decided to acquire Natural Environment Solutions Private Limited (NES) for ₹461.03 crore through a share swap at ₹352 per share. This acquisition will make NES a 100% subsidiary of TCC Concept Ltd. The Board also resolved to increase the authorized capital from ₹25 crore to ₹40 crore and will seek member approval for this change. The acquisition is classified as a related party transaction and will require member approval as per regulatory requirements.

TCC Concept Ltd held a Board Meeting on July 13, 2024, where they approved the valuation report from Mr. Bhavesh M Rathod and decided to acquire Natural Environment Solutions Private Limited (NES) for Rs. 461.03 crore. This acquisition will be executed through a share swap at Rs. 352 per share, making NES a 100% subsidiary of TCC Concept Ltd. The Board also approved increasing the authorized capital from Rs. 25 crore to Rs. 40 crore and noted that the transaction qualifies as a related party transaction, requiring member approval. The acquisition aims to expand TCC Concept Ltd's presence in the data center industry.

Suven Pharmaceuticals Limited announced that the US Food & Drug Administration (US FDA) completed a surveillance inspection of its subsidiary, Casper Pharma Private Limited, in Hyderabad from July 8, 2024, to July 12, 2024. The inspection resulted in a Form 483 with two procedural observations. The company is committed to addressing these observations within the stipulated timeline.

The US FDA conducted the inspection between July 8-12, 2024. The result was a Form 483, which contained two procedural observations. Suven Pharmaceuticals has pledged to address these observations within the given deadline.

Shine Fashions (India) Ltd has announced the issuance of 560,000 warrants on a preferential basis, convertible into an equal number of equity shares within 18 months from the date of allotment. The issue price is set at Rs. 207 per warrant, including a premium of Rs. 202, aggregating up to Rs. 11.59 crores. This issuance is subject to regulatory and shareholder approval at the upcoming Annual General Meeting. The identified allottees include both promoter and non-promoter categories, with notable investors such as Anil Zaverchand Mehta and Securocrop Securities Private Limited.

Geojit Financial Services Ltd announced its Q1 FY 2024-25 results, reporting a consolidated net profit of ₹**45.81 crore**, a 107% YoY increase from ₹**22.08 crore**. Revenue rose 56% YoY to ₹**181.18 crore**, while EBITDA surged 94% YoY to ₹**77.03 crore**. however, on a quarterly basis, revenue, EBITDA, and PAT saw declines of 13%, 8%, and 12%, respectively.

The company's Assets Under Custody and Management stood at ₹**1,03,350 crore** as of June 30, 2024, with over 14.12 lakh clients. The Board approved a fund-raising proposal of up to ₹200 crore through a rights issue, subject to regulatory approvals.

Veerhealth Care Limited has secured a significant export order worth ₹89 Lakhs (≈$1.16 million)** from a top institutional supplier in the USA. This follows previous orders valued at ₹89 Lakhs (≈$1.16 million)** from the same supplier. This also includes an order valued at ₹41.50 Lakhs ($550,000) and $165 Lakhs (₹127.51 Crores), with the latter to be fully executed by the end of July 2024. The company is expecting monthly repeat orders from the same supplier. Additionally, Veerhealth Care is renovating its Vapi, Gujarat plant to be US FDA & WHO compliant. The company reported a total revenue of ₹14.61 Crores and a profit before tax of ₹1.28 Crores for FY24. With an ambitious target, the company aims to reach ₹100 Crores in revenue with a 10% PAT in the next 2-3 years.

Maithan Alloys Ltd. reported a significant operational disruption at its Byrnihat Unit due to a fire on July 13, 2024, at 6:10 A.M. The incident caused severe damage to one of the furnace transformers, leading to the shutdown of one of the two furnaces until the transformer is replaced. The full extent of the damage is still being assessed, but the affected transformer is insured.

This information was disclosed under Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated July 11, 2023.

Cian Healthcare Ltd held a Board of Directors meeting on July 12, 2024. During the meeting, the following key proposals were approved:

Firstly, they sanctioned the issuance of equity shares on a preferential basis. Mr. Suraj Zanwar was authorized to manage the allottee records and complete necessary formalities.

Secondly, they approved an increase in authorized capital. Mr. Zanwar was tasked to present the required capital details at the next board meeting.

The meeting commenced at 05:00 PM and concluded at 05:50 PM.

Godrej Agrovet Ltd has received a reaffirmation of its "CRISIL A1+" rating from CRISIL for its Rs.1,200 Crore Commercial Paper programme. The programme was enhanced from Rs.1,000 Crore. This rating indicates a very strong degree of safety regarding timely payment of financial obligations and carries the lowest credit risk.

The reaffirmation was communicated via a letter dated July 12, 2024. This information is also available on the company's website.

Deep Industries Ltd has received Letters of Awards from Oil and Natural Gas Corporation Limited (ONGC) for the charter hiring of one 100MT workover rig for Tripura and one 150MT workover rig for Rajahmundry, each for a duration of three years. The total estimated value of these awards is approximately INR 82 crores. These contracts are domestic and do not involve any related party transactions or interests from the promoter group. The awards are part of the company's ordinary course of business.

Crompton Greaves Consumer Electricals Ltd announced a new product launch under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The product, Versa Horizontal LHS, is a storage water heater set to be launched on July 13, 2024, catering to the domestic market. This disclosure, although not meeting the materiality threshold, is part of the company's commitment to good corporate governance practices. (Greaves Consumer & Limited, n.d.)

Vishal Fabrics Ltd has received a credit rating update from India Ratings and Research Private Limited. The company's bank facilities have been rated as follows:

* Term loans of INR 926.5 million have been affirmed at IND A/Negative, with the outlook revised from Stable to Negative.
* Fund-based working capital limits of INR 2,000 million have also been affirmed at IND A/Negative/IND A2+, with a similar outlook revision.
* Non-fund-based working capital limits of INR 400 million have been affirmed at IND A2+.

This information is provided under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Avenue Supermarts Ltd. reported a significant financial performance for Q1FY25, with standalone total revenue increasing by 18.4% to Rs. 13,712 crore and standalone PAT rising by 16.8% to Rs. 812 crore. The company added 6 new stores, bringing the total to 371 as of June 30, 2024. EBITDA for the quarter stood at Rs. 1,221 crore, reflecting a year-on-year growth of 17.8%, while the basic EPS improved to Rs. 12.49 from Rs. 10.71 in Q1FY24. Consolidated revenue also saw a notable increase, reaching Rs. 14,069 crore, with a net profit of Rs. 774 crore.

Aerpace Industries Ltd announced the outcome of its Board Meeting held on 13th July 2024, where the Board approved the preferential allotment of 1,28,27,648 equity shares at a price of Rs. 19.71 per share, including a premium of Rs. 18.71. This allotment aggregates to Rs. 25,28,32,942.08. Following this, the company's paid-up capital increased to Rs. 14,95,00,981, comprising 14,95,00,981 equity shares of face value Re. 1/- each. The Board meeting commenced at 12:15 PM and concluded at 1:00 PM.

RMC Switchgears Ltd secures Rs. 86.48 Crores (including GST) work order for solar equipment, 220 KV substation, and 5 km transmission line for a 25 MWac ground mount solar plant with a single-axis tracker in Bhuj, Gujarat. award date: 12.07.2024.

This contract marks a major milestone in the company's expansion in the renewable energy sector. Following its first 1.35 MWp solar power plant in Rajasthan.

This project aligns with RMC's strategic vision to contribute to sustainable development and supports India's goal of achieving 450 GW of renewable energy capacity by 2030.

Adani Energy Solutions Ltd has received a CRISIL AA+/Stable rating for its Non-Convertible Debentures as of July 13, 2024. This rating update was disclosed in compliance with Regulation 30(6) of the SEBI Listing Obligations and Disclosure Requirements, 2015. The company, formerly known as Adani Transmission Limited, continues to maintain a stable outlook according to CRISIL's assessment.

Apoltex Industries Ltd. has announced the full restoration of normal operations at its Taloja, MIDC plant as of 13th July 2024. This follows an earlier intimation on 7th July 2024. Insurance companies and value assessors have conducted a preliminary inspection, with detailed estimations ongoing. The company has taken necessary steps to mobilize materials, manpower, spares, and consumables to resume operations. Further updates will be provided as required under SEBI regulations.

Cipla Ltd. recently underwent a routine Current Good Manufacturing Practices (cGMP) inspection by the United States Food and Drug Administration (USFDA) at its manufacturing facility in Kurkumbh, Maharashtra, India. The inspection, which was initially communicated on May 8, 2024, has been classified as Voluntary Action Indicated (VAI) by the USFDA as of July 12, 2024. This classification suggests that while some issues were identified, they are not significant enough to warrant regulatory action. (CIPLA LTD. 7/13/202422, n.d.)