Get ready for tomorrow’s buying opportunity stocks:
1. Suzuki Motor resumes production at Gujarat plant
Suzuki Motor Gujarat had suspended production at the Hansalpur (Gujarat) plant on March 23 to check the spread of COVID-19. The facility, which rolls out two models, Baleno and Swift, currently has an installed production capacity of 5 lakh units …
2. ONGC may buy IL&FS’ 26% stake in Tripura power arm
IL&FS invites expressions of interest for share acquisition State-owned energy major ONGC, along with partners, is likely to buy IL&FS’s 26% stake in ONGC Tripura Power Company Ltd. (OTPL), which owns and operates a 726.6 MW gas-based power plant in Tripura supplying power to the northeast region. IL&FS has invited expressions of interest (EoI) for acquisition of 26% of the issued and outstanding shares of OTPC.
3. Cement shares rally on gradual pick-up in demand; Birla Corp surges 11%
Shares of cement manufacturers were trading higher for the fifth straight session on Tuesday as the sector witnesses a gradual pick-up in demand since the lockdown was relaxed at the beginning of May. Birla Corporation, JK Lakshmi Cement and UltraTech Cement were up between 5 per cent and 11 per cent, while Ramco Cements, HeidelbergCement India, ACC, Dalmia Bharat and India Cements were up in the range of 3 per cent to 4 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.60 per cent at 30,856 points at 12:45 pm
4. ITC shares gain 5% as Co to acquire spices major Sunrise Foods for Rs 2K cr
Fast-moving consumer goods (FMCG) major ITC shares surged as much as 4.6 per cent to Rs 194.95 apiece on the BSE on Tuesday after the company announced it had entered into an agreement with the spice major Sunrise Foods to acquire a 100 per cent stake in the company. “ITC Limited has entered into a Share Purchase Agreement (SPA) on May 23, 2020 to acquire 100% of the equity share capital of Sunrise Foods Private Limited (SFPL), a company primarily engaged in the business of spices under the trademark ‘Sunrise’, subject to fulfilment of various terms and conditions as specified in the SPA,” the company said in its press release.
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