- The stock of Aster DM Healthcare has risen 5% as a result of a pact with Tamil Nadu for hospitals, pharmacies, and laboratories.
- Bharti Airtel’s stock rises as part of a proposal to buy Indus Towers’ stock and pay off deferred liabilities.
- After a massive merger deal, PVR and Inox Leisure set 52-week highs.
- Zen Technologies is profiting on an order from the Indian Army.
- Motherson Sumi Systems soars after landing its first Boeing contract.
The stock of Aster DM Healthcare has risen 5% as a result of a pact with Tamil Nadu for hospitals, pharmacies, and laboratories.
On March 28, Aster DM Healthcare’s stock jumped more than 5% after the business signed a memorandum of understanding (MoU) with Tamil Nadu to establish healthcare facilities.
The MoU envisions a Rs 500 crore investment in the state’s hospitals, pharmacies, and laboratories. This is anticipated to help provide high-quality healthcare at a low cost while also creating jobs for around 3,500 people.
With an investment of almost Rs 3,000 crore, Aster currently operates 14 hospitals, nine clinics, 66 labs, and patient experience centres in India. The investment in Tamil Nadu would further reinforce the firm’s footprint in the South, which already includes five hospitals in Kerala, including the flagship Aster Medcity. Aster has healthcare facilities in Karnataka, Maharashtra, Andhra Pradesh, and Telangana, in addition to Kerala.
Bharti Airtel’s stock rises as part of a proposal to buy Indus Towers’ stock and pay off deferred liabilities.
Bharti Airtel’s stock jumped on March 28 after the firm announced that it will buy 4.7 percent of Indus Towers from a Vodafone Group Plc affiliate for Rs 187.88 per share, for a total transaction value of Rs 2,388.06 crore.
Bharti Airtel has also agreed to purchase a 7.036 percent share in Avaada KNShorapur, a special purpose company set up to own and operate a captive power plant. In addition, the company’s subsidiary Nxtra Data has agreed to purchase an 11.334 percent share in Avaada KNShorapur.
Another event is that the corporation has made a part prepayment of Rs 8,815 crore to the department of telecom on deferred obligations related to spectrum purchased in the 2015 auction.
After a massive merger deal, PVR and Inox Leisure set 52-week highs.
PVR and Inox Leisure’s stock prices increased 5% and 16% in early trade, respectively, a day after the announcement of their merger plan to form a movie behemoth with over 1,500 screens.
PVR hit a 52-week high of Rs 2,010.35 and INOX Leisure hit a 52-week high of Rs 563.60.
PVR and Inox, two of the top multiplex operators, announced the transaction after their boards approved an all-stock merger yesterday, subject to approval by PVR and Inox shareholders, stock exchanges, market watchdogs, and others. At the approved swap ratio, Inox investors will receive PVR shares in return for INOX shares.
Zen Technologies is profiting on an order from the Indian Army.
On March 25, Zen Technologies’ stock soared more than 4% intraday after the business received an order from the Indian Army.
The army has issued a project sanction order to Zen Technologies Limited for the design and development of a prototype of the Integrated Air Defense Combat Simulator (IADCS). Within 30 weeks, the prototype must be ready for the user trial readiness review (UTRR).
The Indian Army will issue an order for the procurement of 16 IADCS after the UTRR is completed, allowing commercial offers to be submitted prior to the start of Field Evaluation Trials. Prototype Development Phase and Procurement Phase are the two phases in which the project will be finished. The equipment is designed to make it easier to train gunners at the unit level.
Motherson Sumi Systems soars after landing its first Boeing contract.
After Motherson Sumi Systems said yesterday that it had received an order from Boeing to manufacture and deliver aftermarket moulded polymer parts for commercial aeroplane interiors, the stock rose more than 2% in the morning session on March 25.
Motherson has received its first order from Boeing, and manufacturing will begin in the third quarter of FY23. The components will be manufactured in Noida. The order’s amount, however, was not disclosed by the corporation.
This is in accordance with the company’s five-year plan Vision 2025, which calls for the non-automotive division to be strengthened. Motherson is now a tier one supplier to Boeing as a result of this order. This is the start of a new journey in accordance with Motherson’s goal for aerospace expansion.
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