Stock Alert

UPL: UPL has incorporated a wholly owned subsidiary in the name of UPL Speciality Chemicals (USCL) which has acquired 100% holding in Kudos Chemie. Kudos manufactures speciality chemicals used as beverage and pharmaceutical ingredients and has manufacturing facility near Chandigarh. Kudos acquisition helps UPL to offer various value added products to its customers having synergy with its existing business.

Axis Bank: Credit rating agency Fitch Ratings has on 15 June 2022, revised therating outlook to stable from negative on the long-term issuer default ratings of the bank.

NBCC (India): The company has secured the total business of Rs. 330.35 crore during the month of May, 2022.

Indian Overseas Bank: Indian Overseas Bank's board has approved the capital plan of the bank for FY23. The bank will raise up to Rs 1,000 crore by issuing equity shares and another Rs 1,000 crore by issuing bonds, in FY23.

Equitas Small Finance Bank: The company said that the Reserve Bank of India has approved its proposal to reappoint the Managing Director & Chief Executive Officer Vasudevan P N for one year with effect from 23 July 2022.

Astron Paper and Board Mill: The company has completed the trial of new product named 'Absorbent Paper' successfully at Balaram Papers Private Limited, wholly owned subsidiary, Mehsana, Gujarat.

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