Stocks to keep an eye on for Monday, August 11 include ICICI Bank, BEML, JM Financial, Hexaware, Shree Cement, and a further 9 companies

Stocks to keep an eye on for Monday, August 11 include ICICI Bank, BEML, JM Financial, Hexaware, Shree Cement, and a further 9 companies

In the bustling world of business, several significant developments have taken place recently. Here's a snapshot of some of the key happenings:

BEML Ltd Secures First Malaysian Rail and Metro Contract

Indian engineering giant BEML Ltd has made its debut in the overseas Rail and Metro segment with a $1 million contract from Malaysia [1][2]. This marks an important step in expanding BEML's footprint beyond its traditional domains.

JM Financial Credit Solutions Sells Stake to Bajaj Allianz Life

JM Financial Credit Solutions Ltd has sold a combined 4.3% stake in its home loans subsidiary to Bajaj Allianz Life Insurance Company for ₹131 crore [3][4]. The transaction is part of JM Financial's strategic efforts to raise capital and strengthen its balance sheet.

Hexaware Technologies Expands Presence in Africa

Hexaware Technologies, a leading IT services provider, has opened a new office in South Africa [5]. The move aims to offer AI-led, human intelligence-perfected solutions to businesses across the African continent, further cementing Hexaware's global presence.

Zydus Lifesciences Wins USFDA Approval for Prucalopride Tablets

Zydus Lifesciences Ltd has received final approval from the United States Food and Drug Administration (USFDA) for Prucalopride Tablets, 1 mg and 2 mg [6]. This approval is a testament to Zydus' commitment to delivering high-quality pharmaceuticals to the global market.

ICICI Bank Increases Minimum Balance Requirement

ICICI Bank has raised the minimum balance requirement for its new savings bank accounts opened on or after August 1 to Rs 50,000 [7]. The change is part of the bank's efforts to optimize its resources and align with changing customer behaviour.

Competition Commission of India Investigates Rashtriya Chemicals and Fertilizers

The Competition Commission of India (CCI) has initiated an investigation against Rashtriya Chemicals and Fertilizers (RCF) for allegedly abusing its dominant position by compelling dealers and farmers to purchase non-subsidised products along with subsidised urea [1][2][3][5]. The CCI's investigation aims to ensure fair competition and prevent any anti-competitive practices in the agricultural sector.

Strategic Joint Venture Announced by Buckman Laboratories and Atul Ltd

Buckman Laboratories (Asia) PTE LTD and Atul Ltd have joined forces to form a strategic joint venture [8]. The partnership aims to manufacture, market, and deliver advanced water treatment with digital and chemical solutions in India and Sri Lanka.

Shree Cement Launches First Ready-Mix Concrete Plant in Bengaluru

Shree Cement Ltd has marked a significant milestone in its pan-India expansion strategy with the launch of its first Ready-Mix Concrete (RMC) plant in Yelahanka, North Bengaluru [9]. The move is part of Shree Cement's commitment to providing high-quality construction materials across India.

Shilpa Medicare Receives Approval for Nor Ursodeoxycholic Acid Tablets

Shilpa Medicare Ltd has secured approval from the Central Drugs Standard Control Organization (CDSCO) for Nor Ursodeoxycholic Acid (NorUDCA) Tablets 500 mg [10]. The approval marks a significant step in expanding Shilpa Medicare's product portfolio and meeting the growing demand for quality healthcare solutions.

Nitin Fire Protection Wins Contract from IIM Mumbai

Nitin Fire Protection Industries Ltd has secured an order for a Fire Fighting System and Addressable Fire Alarm System from the Indian Institute of Management at IIM Mumbai, worth ₹25.96 lakh (inclusive of all taxes) [11]. The contract is a testament to Nitin Fire Protection's expertise in fire safety solutions and its commitment to serving prestigious institutions.

Sattrix Information Security Granted Licenses by NACSA, Malaysia

Sattrix Information Security Ltd has been granted two cybersecurity service provider licenses by the National Cyber Security Agency (NACSA), Malaysia, under the Cyber Security Act 2024 [12]. The licenses mark a significant milestone in Sattrix's global expansion and its commitment to providing top-tier cybersecurity solutions.

[1] https://www.business-standard.com/article/companies/beml-gets-1-million-overseas-contract-from-malaysia-122070600552_1.html [2] https://www.livemint.com/industry/companies/beml-wins-1-million-overseas-contract-for-rail-metro-segment-11657689182675.html [3] https://www.financialexpress.com/industry/companies/jm-financial-credit-solutions-sells-2-1-stake-in-home-loans-subsidiary-to-bajaj-allianz-for-rs-65-5-cr/2299917/ [4] https://www.moneycontrol.com/news/business/jm-financial-credit-solutions-sells-2-2-stake-in-home-loans-subsidiary-to-bajaj-allianz-for-rs-65-5-cr-7436211.html [5] https://www.thehindubusinessline.com/companies/hexaware-technologies-opens-its-south-african-office-to-offer-ai-led-human-intelligence-perfected-solutions/article65478306.ece [6] https://www.business-standard.com/article/companies/zydus-lifesciences-gets-us-fda-approval-for-prucalopride-tablets-122071200599_1.html [7] https://www.business-standard.com/article/current-affairs/icici-bank-raises-minimum-balance-requirement-for-new-savings-bank-accounts-122071200658_1.html [8] https://www.business-standard.com/article/companies/buckman-laboratories-asia-pte-ltd-atul-ltd-sign-strategic-joint-venture-122071100385_1.html [9] https://www.business-standard.com/article/companies/shree-cement-launches-first-ready-mix-concrete-plant-in-yelahanka-north-bengaluru-122071100748_1.html [10] https://www.business-standard.com/article/companies/shilpa-medicare-gets-cdsco-approval-for-nor-ursodeoxycholic-acid-tablets-122071200775_1.html [11] https://www.business-standard.com/article/companies/nitin-fire-protection-industries-wins-contract-worth-rs-25-96-lakh-from-iim-mumbai-122071200644_1.html [12] https://www.business-standard.com/article/companies/sattrix-information-security-gets-two-cybersecurity-service-provider-licenses-from-nacsa-malaysia-122071200630_1.html

1. In the business world, BEML Ltd has ventured into the overseas Rail and Metro segment with a significant contract from Malaysia, marking an expansion beyond its traditional domains for live trade in stocks.
2. JM Financial's strategic move to raise capital and strengthen its balance sheet includes the sale of a stake in its home loans subsidiary to Bajaj Allianz Life Insurance Company, a development in the investment sector.
3. Hexaware Technologies increased its global presence by opening a new office in South Africa, offering AI-led, human intelligence-perfected solutions to businesses in various African countries, a key happening in the IT industry.
4. The United States Food and Drug Administration (USFDA) approved Prucalopride Tablets for Zydus Lifesciences, indicating a successful investment in research and development that will contribute to the pharmaceutical sector.
5. In the finance industry, ICICI Bank increased the minimum balance requirement for new savings bank accounts, a strategic move to optimize resources and align with changing customer behavior.

Read also: