Stocks in News: Muthoot Finance, Shriram Finance, M&M, L&T, Coforge, Lupin in Focus

There was an announcement of Muthoot Finance giving out an interim dividend of ₹30 per share; this would draw investor interest and benefit the company's stock.

The Shriram Finance has been granted the listing clearance by the NSE and BSE for its 47 crore MUFG shares. The shares would hit the exchanges for listing on April 13, 2023, and will have a lock-in period till October 13, 2026.

The industrial sector saw Mahindra & Mahindra announcing that its arms are planning to sell off their entire 99.04% holding in Erkunt Foundry, hinting at a change in their investment strategy.

Larsen & Toubro further extended its real estate reach by acquiring a 100% shareholding in Intl Green Spaces through its real estate wing at the cost of ₹1,123 crore.

As per a recent report, Amber Enterprises purchased a 50% stake in Amber Resojet for a consideration of ₹1.7 crore.

Avenue Supermarts announced its fund raising through commercial paper issue for a face value of ₹500 crore.

On the regulatory side, Gujarat State Petronet got a revised income tax order wherein its assessed income has been brought down from ₹1,683 crore to ₹1,435 crore.

Regarding the IT sector, Coforge received the exchange approval to make preferential allocation of 9.3 crore shares at ₹1,815.91 per share, which will help it to finance its acquisition of Encora. 

In the pharmaceutical sector, Lupin made its debut by launching its Dapagliflozin Tablets in the US.

In the last item of news, PC Jeweller increased its paid-up capital by raising ₹447.6 crore from the warrant-to-equity conversion process, resulting in the allotment of 106.2 crore shares.

In summary, all these pieces of news will surely have an impact on the stock markets.