Posted on by Anushka Sharma

Stocks to Watch: Infosys, Reliance, Lemon Tree, GMM Pfaudler and more

GMM Pfaudler: GMM Pfaudler Ltd, along with its subsidiary GMM Pfaudler US Inc., announced to buy all the shares of Professional Mixing Equipment Inc. (known as MixPro). A total consideration of USD 7 million will be paid to acquire MixPro and the transaction will be funded through internal accruals and is expected to close by October 2023. MixPro is a company in Brampton, Canada, that makes new and smart mixing equipment for different industries.
Lemon Tree Hotel
Lemon Tree: The company has signed agreements to open two new hotels. One will be called “Lemon Tree Hotel” in Junagadh, Gujarat, with 64 rooms, a restaurant, a banquet hall, and more. It should be ready by 2025. The other one, called “Tigerland Safari – A Lemon Tree Resort,” will be in Chitwan, Nepal, with 35 rooms, a restaurant, and more. It should be ready by 2024. The company’s subsidiary, Carnation Hotels Private Limited, will run these hotels.
Infosys: Infosys has signed an Memorandum of Understanding with a global company to provide enhanced digital experiences, along with modernization and business operations services, leveraging Infosys platforms & AI solutions. The total client target spend over 15 years is estimated at $1.5 Billion. This is subject to parties entering into a Master Agreement.
Religare: Insurance Regulatory and Development Authority of India (“IRDAI”) has granted approval for the acquisition of MIC by REL, subject to certain conditions outlined in the approval letter, which has been communicated to MIC. The completion of the MIC acquisition will be subject to meeting the conditions precedent as specified in the Share Purchase Agreement.
Bharat Forge, defence sector
Bharat Forge: The Board of company has granted approval for additional investment in KPTL, which in turn will allocate the funds to its wholly-owned subsidiary, Kalyani Mobility Inc. The investment is expected to be finalized by September 30, 2023.  KPTL, a public limited company and a wholly-owned subsidiary of Bharat Forge, and KMI, a wholly-owned subsidiary of KPTL.
RIL share price
Reliance Industries: Company is proposing to undertake shutdown of its units at Jamnagar for planned maintenance and inspection activities. This includes one Crude Distillation Unit & one Delayed Coking in SEZ refinery – for about 4 weeks starting from the fourth week of September 2023; Fluidized Catalytic Cracker in DTA refinery – for about 7 weeks starting from mid-September 2023; and a Refinery Off Gas Cracker – for about 4 weeks starting from the last week of September 2023.