Post Market Report: Dalal Street clocks strong gains; HCL Tech, Maruti Suzuki, Axis Bank in news

HCL Technologies: The company said that it has launched a test lab in Chennai (India) to enable global telecom infrastructure original equipment manufacturers (OEMs) to test and validate 5G solutions. The facility is equipped with high-end scanners that enable global OEMs to test large cellular base stations as well as small form factor antennas used in mobile phones, smart gadgets, health monitoring systems and remote surveillance systems.

Maruti Suzuki: The automaker said that its new off-roader ‘Jimny’ will sell at a starting price of Rs 12.74 lakh (ex-showroom). The top-end variant — Alpha AT (Dual Tone) — will be priced at Rs 15.05 lakh. The Jimny will be available for deliveries starting Wednesday, 7 June. The vehicle is powered by a 1.5L K-series engine that produces 105 hp at 6000 rpm and 134 Nm of torque and 4000 rpm. Jimny gives a mileage of 16.94 kilometres per litre (kmpl) for its manual transmission and 16.39 kmpl for the automatic.

Axis Bank: The third largest private sector lender’s market capitalisation has hit the Rs 3 trillion mark as the share prices of the bank hit a new high of Rs 981.25 per share on the BSE in Wednesday’s intraday trade.

KPI Green Energy: The company has received a letter of intent (LOI) from Anupam Rasayan India to execute wind-solar hybrid power project under captive power producer (CPP). The aggregate LOI size is 40 MW capacity comprising of 21.50 MW Wind and 18.50 MW Solar. The project is scheduled to be completed in FY24 in two or more tranches.

Tata Motors: Shares of the automaker reached a high of Rs 575 apiece on Wednesday and the market cap of the company crossed Rs 2 trillion mark.

R Systems International: The company has signed definitive agreement to acquire 100% stake in Velotio Technologies to develop Velotio’s engineering capabilities and accelerate its growth. Velotio is a product engineering and digital solutions provider working with high growth enterprises across the globe. R Systems International is a leading global provider of technology, artificial solutions along with knowledge services. R Systems delivers its services and solutions to leading technology companies and businesses to enable their digital transformation.

Muthoot Capital: The NBFC has approved the issue and allotment of Non- Convertible Debentures amounting to Rs 124 crore on private placement basis.

Macrotech Developers (Lodha Group): The realty developer announced that its board has approved the re-appointment of Raunika Malhotra as whole-time director of the company, for a further term of two years with effect from 26 June 2023.

Insecticides (India): In a regulatory filing, the company said that the Patent Office, Government of India, has granted the patent for an invention to Insecticides (India) and OAT Agrio Co. entitled ‘substituted pyrazole derivatives and insecticides and fungicides’ for a term of 20 years from 28 June 2019. Insecticides (India) is engaged in the manufacturing activities of agro chemicals, pesticides and technical products for agriculture purposes. Shares of the company rose 3.42% in intraday trading.

Nelco: The company announced a strategic investment in Piscis Networks (Piscis) to enhance its portfolio of satellite communication solutions. With this investment, the company plans to expand its service portfolio and elevate its position as an integrated network solution provider. The firm is optimistic about the future growth opportunities in the satellite communication industry and aims to revolutionize communication across sectors and across the remotest parts of the country, it added.

Venus Remedies: The company has received Ukrainian Good Manufacturing Practices (GMP) approval for Carlapenem and Oncology production facilities in Baddi, Himachal Pradesh. The GMP certification will help the company to expand in other EU markets and globally.