Stocks in spotlight: Bharat Forge, Balrampur Chini, Kirloskar Oil

The National Stock Exchange has added Balrampur Chini Mills on its F&O ban list for 9 March 2023. Securities banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.

Bharat Forge: The company through its E-Mobility subsidiary, Kalyani Powertrain, inaugurated its first E-bike manufacturing facility at MIDC Chakan on 8 March 2023. The facility has a production capacity of 60,000 units per annum and scalable to 100,000 units per annum, will undertake assembly of E-bikes for Tork Motors, 64.29% owned by Kalyani Powertrain.

Kirloskar Oil Engines: Ten investors have picked up 13.65% stake in the company through bulk deals on Wednesday (8 March 2023), at an average price of Rs 322 per share, amounting to Rs 636 crore. Three promoters offloaded 17.71% stake in the company.

 

Jindal Stainless: iShares Core MSCI Emerging Markets ETF has picked up 33.69 lakh equity shares (0.64% stake) in the stainless steel company through open market transactions, at an average price of Rs 309.42 per share.

Ramkrishna Forgings: The company said it incorporated a wholly owned subsidiary, RKFL Engineering Industry, on 6 March 2023. The subsidiary has been incorporated to implement the resolution plan under Corporate Insolvency Resolution Process (CIRP) for JMT Auto.

Shoppers' Stop: Shiseido Asia Pacific signed a strategic distribution partnership agreement with Global SS Beauty Brands, a subsidiary of Shoppers Stop, to expand its brand footprint in India. Through the partnership, Shiseido Group will officially launch its global make-up brand, NARS Cosmetics, in second half of 2023 in key cities in India.

ISMT: R Poornalingam has resigned as an independent director of the company from 8 March 2023.

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