Stocks in the news: Lupin, ABFRL, Paytm, IndusInd Bank, Lupin, Exide, IRB Infra and more

Indian stock indices gave up early gains and settled slightly lower on Tuesday after hitting new all-time highs. The BSE Sensex declined 58.80 points, or 0.08 per cent to settle at 74,683.70. The NSE Nifty50 index shed 23.55 points, or 0.10 per cent, to end the session at 22,642.75. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, April 10, 2024:

One97 Communications: According to the latest shareholding pattern, foreign portfolio investors increased their shareholding in the Paytm operator by 2 percentage points to 20.64 per cent in the March 2024 quarter, from 18.64 per cent in the December 2023 quarter. Mutual funds also raised their stake 116 basis points to 6.15 per cent from 4.99 per cent during the same period.

IndusInd Bank: IndusInd International Holdings (IIHL), the promoter entity of IndusInd Bank, has signed a definitive agreement with Invesco India Asset Management to form a joint venture. IIHL will acquire a 60 per cent shareholding in Invesco India Asset Management, while Invesco will retain a 40 per cent stake in the new venture and both will have sponsor status.

Lupin: The pharma company has launched its first generic version of Oracea (Doxycycline capsules, 40 mg) in the US after approval from the United States Food and Drug Administration (USFDA). These capsules are used for the treatment of only inflammatory lesions (papules and pustules) of rosacea in adult patients.

Exide Industries: The automotive battery manufacturer has entered into an agreement to acquire a 26 percent equity stake in Clean Max Arcadia, a special purpose vehicle (SPV) promoted and incorporated by Clean Max Enviro Energy Solutions, for the generation and supply of solar power.

Aditya Birla Fashion and Retail: The Aditya Birla group firm has incorporated a new company, Aditya Birla Lifestyle Brands (ABLBL). The incorporation of the new company is for the proposed demerger of its Madura Fashion and lifestyle businesses.

PB Fintech: The Policybazaar operator has incorporated a wholly owned subsidiary, namely PB Pay.

IRB Infrastructure Developers: The construction player said that its subsidiary IRB Ahmedabad Vadodara Super Express Tollway has received the Arbitral Award on April 9 with respect to its claim on account of revenue losses due to emergence of the Competing Road running parallel to the Project Highway.

Motilal Oswal Financial Services: The investment firm's finance committee has considered and approved issuance of secured, rated, listed, redeemable non-convertible debentures of face value of Rs 1,000 each for an amount aggregating up to Rs 500 crore with a green shoe option of Rs 500 crore, aggregating up to 1,00,00,000 NCDs for an amount up to Rs 1,000 crore.

Shyam Metalics and Energy: The metals manufacturing company has established a new stainless steel hot rolled coils (HRC) facility at the existing plant in Sambalpur, Odisha, as a part of its expansion plan. The new facility, with an increased capacity of 0.3 million metric tons per annum (MTPA).

Paisalo Digital: The shadow lender said assets under management (AUM) grew by 32 per cent to Rs 4,622 crore at the end of the March 2024 quarter, while disbursements increased by 38 per cent to Rs 3,588 crore, and the co-lending loan disbursement rose by 100 per cent to Rs 1,128 crore during the same period.

Edelweiss Financial Services: Foreign investor CLSA Global Markets bought 53,24,705 equity shares at an average price of Rs 74.5 per share, which amounted to Rs 39.67 crore. However, foreign portfolio investor Pabrai Investment Fund 3 was the seller in the deal.

Huhtamaki India: The company board of paper and packaging player has approved a final dividend of Rs 5 per shares, 250 per cent over the face value of Rs 2 per share, for the shareholders and also has fixed record date at April 24, Wednesday.