JAGRAN PRAKASHAN: Stock surges over 12% intraday,, most in almost 12 years. The company informed exchanges that the board will meet on March 2 to consider share buyback proposal. The stock is up for a 2nd straight session.
TORRENT POWER: Stock surges over 5% to hit a fresh record high in trade. The company emerges as the highest bidder for a 51% shareholding in the power distribution company of the union territory of Dadra & Nagar Haveli and Daman & Diu. The discom has a coverage area of 603 sq kms with revenue of Rs 4,500 cr & about 1.5 lakh consumers. The stock is up 15% in the last 5 trading sessions.
JUBILANT FOODWORKS: Stock hits record high, up over 3.5% in trade. Jubilant Foods’ Netherlands unit to acquire Fides Food Systems for Rs 251 crore in cash. The acquisition will lead to the company indirectly holding a 32.81% stake in DP Eurasia which is an exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia. The stock is up for the 6th straight session.
JET AIRWAYS (INDIA): Stock hits 5% upper limit. Jalan-Kalrock consortium, the successful bidder for Jet Airways, expects to resume operations of the grounded carrier in four-to-six months after NCLT approves its resolution plan.
RIL, FUTURE GROUP STOCKS SLIP: SC issues notice to Future Retail on Amazon’s plea against the deal with Reliance Group. SC refuses to halt NCLT proceedings, but the Future Retail-Reliance deal can’t be finalised till further orders.
SUVEN LIFE: Stock surges almost 10% intraday, most in nearly 11 weeks. The company informed exchanges that the board has approved to issue 18.1 million fully convertible warrants to promoters on a preferential basis
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