Stocks in news: Interarch, Dr Reddy's Labs, Ceigall, ONGC, Akums, Trent, Zydus Life & Uno Minda

Indian benchmark indices settled marginally higher on Friday after a choppy trading session on the back of muted global cues. Traders are awaiting rate cut signals by the US Fed. BSE Sensex rose only 33.02 points or 0.04 per cent, to end the week at 81,086.21. NSE's Nifty50 added just 11.65 points, or 0.05 per cent, to close at 24,823.15. Here are the stocks that may remain under spotlight before the opening bell on Monday, August 26, 2024:
 

Corporate actions today: Shares of Manappuram Finance, Welcast Steels and Dhruv Consultancy Services will trade ex-dividend later today. The Rights issue of Modern Engineering and Projects will open today.
 

Interarch Building Products: The construction solutions player will make its Dalal Street debut today, that is, on Monday, August 26. The Rs 600.29 crore IPO of Interarch Building ran between August 19-21, which was sold at a price band of Rs 850-900 apiece with a lot size of 16 shares. The issue was overall subscribed a total of 93.53 times.
 

Ceigall India: Recently listed civil construction player's board will meet later today to consider and approve the financial results for the June 2024 quarter later today. The company board also may consider the proposal for recommending the final Dividend, if any, for the financial year ended March 31, 2024.
 

Akums Drugs and Pharmaceuticals: The recently listed drugmaker returned to black as it reported net profit of Rs 61.20 crore in the June 2024 quarter. It had reported a net loss in the year-ago period. Revenue from operations rose 5 per cent YoY to Rs 1,019.11 crore. Adjusted ebitda margins grew 12.7 per cent YoY, while CDMO ebitda margins improved 106 bps to 15.5 per cent.
 

Oil & Natural Gas Corporation: The state-run oil exploration player has started production from its fifth oil well in the KG-DWN-98/2 Cluster-2 asset. It has also successfully commissioned its gas export line from the offshore site to the onshore terminal. Gas production is also progressing, with 3 out of 7 wells currently online.
 

Dr Reddy's Laboratories: The USFDA has issued Form 483 with three observations for the company's formulations manufacturing facility in Srikakulam, Andhra Pradesh. The inspection of the facility was conducted from August 19 to August 23, 2024.
 

Bharat Electronics and Trent: The National Stock Exchange has announced a reorganization of its Nifty equity indices. Bharat Electronics and Trent will be included in the Nifty 50, effective September 30, while Divi's Laboratories and LTIMintree will be excluded from the index.
 

Transport Corporation of India: The logistics solutions company has received approval from the board of directors for the buyback of up to 13,33,333 equity shares for a total of Rs 159 crore at a price of Rs 1,200 per share. September 4 has been fixed as the record date for determining the names of equity shareholders eligible for the buyback.
 

Alembic Pharmaceuticals: The pharma company has received approval from the USFDA for its abbreviated new drug application (ANDA) for Betamethasone Valerate foam, 0.12%. The ANDA is therapeutically equivalent to the reference listed drug product (RLD), Luxiq foam, 0.12%, from Norvium Bioscience, LLC. Betamethasone Valerate foam is used to treat scalp skin conditions.
 

Ashoka Buildcon: The construction company has emerged as the lowest bidder for a project worth Rs 478 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). The project involves the design and construction of an elevated road from Kalyan-Murbad Road to Badlapur Road to Pune Link Road.
 

Zydus Lifesciences: The pharma player has signed an agreement with Perfect Day Inc, a Temasek portfolio company, where the latter will sell its 50 per cent shareholding in Sterling Biotech. Following this transaction, Sterling Biotech will become a 50:50 joint venture with equal board representation.
 

Karur Vysya Bank: The Reserve Bank of India has approved SBI Mutual Fund's proposal to acquire a 9.99 per cent stake in the private lender, suggested by some media reports. SBI MF must acquire the stake in the lender within one year from the date of the RBI's letter.
 

Uno Minda: The auto component makers' joint venture with Japan's Tokai Rika Co- Tokai Rika Minda India- has announced the opening of a new manufacturing plant at Neemrana, RIICO Industrial Area, Rajasthan. The plant has an annual production capacity of 3,84,022 units per month and will manufacture smart keys, shift levers, seat belts, and other products.
 

JSW Energy: The JSW Group player's subsidiary, JSW Neo Energy, has received a Letter of Award for setting up a 250 MW grid-connected wind power project from Adani Electricity Mumbai.
 

Religare Enterprises: ED conducted searches at the premises of Executive Chairperson Rashmi Saluja, Group CFO Nitin Agarwal, Group General Counsel Nishant Singhal of Religare Enterprises, and the subsidiary Religare Finvest's Chief Operating Officer Chirag Jain on August 21. The Panchnama indicated that no incriminating documents or digital devices were found or seized during the search.
 

Lemon Tree Hotels: The hotel chain has signed a license agreement for its new hotel property under its upscale brand, Aurika Hotels & Resorts, in Surat, Gujarat. The property will be operated by the subsidiary Carnation Hotels and is expected to open in FY30. This hotel will feature 175 aesthetically designed rooms and suites.
 

KEC International: The RPG Group company has secured new orders worth Rs 1,079 crore in the transmission and distribution (T&D) and cables businesses. The T&D business has secured orders for T&D projects in India, the Middle East, and the Americas.