Stocks in focus: Ambuja Cements, 360 One, Bharti Airtel, Bharat Forge, Bondada Engg

Adani Group-owned Ambuja Cements has completed the acquisition of 37.8 per cent promoters’ stake in the CK Birla group firm Orient Cement Ltd (OCL) and has become a promoter. With this, the total shareholding of Ambuja Cements in OCL has gone up to 46.66 per cent, as it has also acquired 1.82 crore shares representing 8.87 per cent from public shareholders of OCL. “Ambuja has completed the acquisition of 7,76,49,413 equity shares (representing 37.79 per cent of equity share capital) of the company from the promoter group,” said a regulatory filing from OCL.

The Competition Commission of India (CCI) on Tuesday approved Bharat Forge Ltd’s acquisition of AAM India Manufacturing Corporation Pvt Ltd after accepting certain voluntary modifications proposed by the companies. Details about the modifications could not be immediately ascertained. Last month, CCI had sought public comments on the proposed deal after prima facie concluding that the transaction could adversely impact competition.

The Competition Commission of India has also cleared a joint proposal of wealth management firm 360 ONE and Bharti Life Ventures to acquire stakes in Bharti Axa Life Insurance Company, a public unlisted company incorporated in India. It is involved in the business of providing life insurance policies. “Commission approves the acquisition of certain equity shares of Bharti Axa Life Insurance Company Ltd (BALIC) by 360 ONE Private Equity Fund, through its schemes or affiliates (360 Fund),” the regulator said in a release.

Adani Group firm Adani Data Network will transfer its entire spectrum holding to Bharti Airtel and its subsidiary Bharti Hexacom, both the companies said in separate statements without disclosing financial details. The development comes at a time when Adani Data Networks was about to lose its entire 400 megahertz spectrum in the 26 Gigahertz band as it failed to meet the roll-out obligations within the stipulated time.

State-owned Power Finance Corporation on Tuesday said it is actively pursuing further action and “exploring all possible options” on pending dues of ₹307 crore from Gensol Engineering, which came under market regulator SEBI’s lens for fund diversion and governance lapses. The company has also filed a complaint with the Economic Offences Wing (EoW) concerning the issuance of falsified documents, that Gensol Engineering had filed to show its debt servicing track record. PFC had sanctioned ₹633 crore to Gensol Engineering in January 2023.

Dr Reddy’s Laboratories and Lupin are recalling products in the US market due to labelling and manufacturing errors, respectively, according to the US health regulator. As per its latest Enforcement Report, US Food and Drug Administration (USFDA) said a US-based subsidiary of the Hyderabad-based drug major is recalling certain batches of a generic anti-epileptic drug in the US market. Princeton-based Dr Reddy’s Laboratories, Inc is recalling 4,010 bags of Levetiracetam 0.75 pc in Sodium Chloride Injection (1,000 mg/100 mL) in the US due to labelling mix up, USFDA said.

Bondada Engineering Ltd has received a work order from Dinesh Engineers Ltd for supplying 55 numbers of 40 Mtr towers with all accessories to be delivered in Chhattisgarh and Jharkhand. The order is worth INR 5.93 crores (including GST) and needs to be executed within 8 months from the date of the purchase order.

PNC Infratech has been declared  L1 (First Lowest) bidder in a project namely “Construction of Flyover from Heeradas Chouraha to Kumher Gate Chouraha in Bharatpur City, Bharatpur in the EPC Mode” on April 22 for a quoted price of ₹239.94 crore. The project completion period is 24 months.

Ashoka Buildcon has received a Letter of Acceptance from Central Railway for a ₹568.86-crore project involving the ‘Construction of Earth Work, Major Bridges, Minor Bridges, Rubs, P. Way Work and Miscellaneous Civil Works in Connection with Gauge Conversion Work from Pachora-Jamner (Approx. 53.3 Km) Excluding Pachora Yard and Road Over Bridges for Central Railway.

Kohinoor Foods Ltd has released a property situated at Murthal, Sonipat, Haryana, along with plant and machinery thereon in accordance with the One Time Settlement (OTS) and the Tripartite Agreement (TPA) entered into by the company. The investor/ buyer has deposited ₹190 crore within 15 days from the date of execution of the TPA as the sale consideration of the property. The company has also deposited ₹10 crores with the lead bank, making a total of ₹200 crore. This amount has been appropriated among the member lenders/ banks as per their respective shares.

EaseMyTrip.com has announced a strategic partnership with Sukoon Unlimited, a premium senior care service provider, to offer exclusive benefits tailored for senior citizens. This collaboration aims to make travel more accessible, comfortable, and stress-free for elderly travellers booking flights through EaseMyTrip. Senior citizens can enjoy personalised assistance, exclusive discounts, priority seating, wheelchair assistance, on-ground support at airports, and wellness services such as pre- and post-travel consultations.

Indo Farm Equipment Ltd has successfully executed a strategic technology transfer agreement with Sichuan Hongsheng Heavy Machinery Co. Ltd., one of China’s premier manufacturers of construction equipment. This collaboration, facilitated through Beida Commercial & Trade Company, empowers Indo Farm with the capability to locally manufacture world-class tower cranes, enhancing indigenous production under the vision of ‘Make in India’ and reinforce India’s self-reliance in critical infrastructure equipment technologies. 

Somi Conveyor Beltings Ltd has secured orders amounting to ₹48.65 crore in March 2025. The major orders are from NLC India Limited and Maharashtra State Power Generation Co for the supply of Steel Cord Conveyor Belts with specific measurements and grades

Published on April 23, 2025