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Mazagon Dock, UTI AMC, Vedanta in spotlight

Capital Market 

Shares of Mazagon Dock Shipbuilders will debut on the bourses today, 12 October 2020. The issue price is fixed at Rs 145 per share.

Shares of UTI Asset Management Company (AMC) debut on the bourses today, 12 October 2020. The issue price is fixed at Rs 554 per share.

Vedanta said that in connection with the delisting offer, Vedanta Resources and its indirect subsidiaries namely, Vedanta Holdings Mauritius and Vedanta Holdings Mauritius II, that the delisting offer is deemed to have failed in terms of Regulation 19(1) of the delisting regulations.

Glenmark Pharmaceuticals announced results of its FAITH combination trial with antivirals Umifenovir and Favipiravir for the treatment of moderate hospitalized COVID-19 patients. This was the second clinical study after the successful Favipiravir monotherapy trial earlier this year that led the company to receiving the Emergency Use Authorisation for Favipiravir. This second study titled the FAITH trial evaluated the possible superiority of the combination's efficacy against Favipiravir monotherapy. As per the results that Glenmark presented to the regulator, the study showed no superior clinical outcomes with the addition of Umifenovir.

RITES announced that it has secured consultancy orders worth Rs 103 crore from various clients.

Federal-Mogul Goetze (India) said that promoter entity IEH FMGI Holdings LLC proposes to sell up to 1,21,45,391 equity shares (representing 21.83% of the paid-up equity) through offer for sale on October 12-13. The floor price has been fixed at Rs 342 per share.

Karnataka Bank on Friday (9 October) declared its exposure of Rs 107.99 crore to Sintex Industries (SIL) as fraud. In 2016, SIL had availed various credit facilities under consortium arrangement wherein, Karnataka Bank was one of the fifteen member banks. Karnataka Bank's total exposure in the arrangement stood at around 1.74%.

Indiabulls Housing Finance has further sold a portion of its stake in OakNorth Holding (the wholly owning parent company of OakNorth Bank) (OakNorth), to Riva Capital Partners V, L.P., USA, for approximately Rs 441 crore. The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company.

Premier Explosives on Friday (9 October) said it received a Rs 82.83 crore order from state-run Singareni Collieries Company in Telangana for supplying SMS/SME explosives and accessories.

Great Eastern Shipping Company on Friday (9 October) said it signed a contract to buy a secondhand LR2 product carrier of about 105,258 deadweight tonnage (dwt). The 2012 South Korean built vessel is expected to join the company's fleet in Q3 FY21.

JBM Auto has entered into share purchase agreement with Sandhar Technologies to purchase the remaining 50% stake in INDO Toolings. JBM Auto will purchase 2 lakh equity shares, or 50% equity, of INDO Toolings at Rs 14.65 each, aggregating to Rs 29.30 lakh. The transaction is at arm's length basis. The promoters & promoters group are in no way interested in the transaction.

Shilpa Medicare announced that its Jadcherla facility in Telangana received a warning letter on 9 October 2020 from the US drug regulator. Shilpa Medicare believes that the warning letter will have minimum impact of disruption of supplies and the existing revenues from operations of this facility.

Trident announced that its bath linen production rose 12.3% to 4,731 metric tons, bed linen production increased 56.4% to 3.8 million metres and yarn production expanded 4.2% to 9,058 metric tons in September 2020 over September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, October 12 2020. 08:23 IST