Stocks that will see action on November 24

IPCA Laboratories Ltd (IPCA) continued to acquire more shares of another listed pharmaceutical company Lyka Labs Ltd for the second day. IPCA purchased 1,774,142 equity shares of Lyka Labs Ltd through market purchase on Nov 23, 2021 at a price of ₹126.11 a share. In the last two trading sessions IPCA has purchased 2,824,142 equity shares which is almost 9.84 per cent stake in the company.

Bharti Airtel: Moody’s Investor Service has changed Bharti Airtel’s outlook to positive from stable. It affirmed Bharti Airtel’s long-term corporate family rating at Ba1. Positive outlook reflects Airtel’s improving operating performance and credit metrics, Moody’s said.

Poonawalla Fincorp: Sanjay Chamria has stepped down as the Executive Vice Chairman of Poonawalla Fincorp Limited after serving as the co-founder since inception of the Company. Throughout the years the company has seen several highlights, one of the biggest being the investment by Rising Sun Holdings Private Limited and Adar Poonawalla joining the board as the Chairman. This investment has increased the shareholder value and has poised the Company to achieve robust growth and herald a new journey under the new management and the new promoter. With the new leadership team having taken full charge under the chairmanship of Adar Poonawalla, the new promoter, Chamria has decided to step down as the Executive Vice Chairman and also from the Board of the Company

Zee Entertainment: The merger of Zee Entertainment Enterprises (ZEE) and Sony Pictures Networks India (SPN) is on track and “in the final stages of stitching up”, disclosed Punit Goenka, MD & CEO, ZEE on Tuesday.

Bharat Forge has informed the exchanges that its arm Kalyani Powertrain has hiked stake in electric two-wheeler maker Tork Motors to 60.66 per cent through conversion of debentures into equity shares.

Affordable Robotic & Automation Ltd’s subsidiary ARAPL Raas Private Limited in the Extra-Ordinary General Meeting has approved to issue and allot 2,222 equity shares having face value of ₹10 at a premium of ₹22,490 each, aggregating to about ₹5 crore on preferential basis through private placement to Vijay Kedia.

After obtaining necessary approvals, Sambandam Spinning Mills Ltd has disposed left out balance of its non-core asset – unusable and non productive vacant land. The total consideration received was ₹7.37 lakh. The land was purchased long ago for windmill power project, but it is not used for such project and it became vacant unusable land, a non-core asset with nil revenue generation.

Shareholders of Forbes & Company has approved the composite scheme of arrangement between Requisite Aquaignis Technologies, Euro Forbes Financial Services, Eureka Forbes, Forbes & Company and Forbes Enviro Solutions and their respective shareholders.

Balaji Amines had earlier announced about the DMF plant shutdown because of a minor incident and also announced that the de-bottlenecking will be done during the rectification period for…