🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• United Spirits: The company has announced the sale of its entire 100% stake in Royal Challengers Sports Pvt Ltd (RCSPL) for a staggering Rs 16,660 crore to a consortium including Aditya Birla Group, Times Group, Bolt, and Blackstone.
• GR Infraprojects: Received a Letter of Award from NHAI for a greenfield highway project in Bihar worth Rs 24.41 billion, to be executed under the Hybrid Annuity Mode.
• BPCL: Its joint venture with Sembcorp has bagged a contract to supply 10 KTPA of green hydrogen to Numaligarh Refinery; the company also commissioned its 2G bioethanol refinery at Bargarh.
• Bosch & Tata AutoComp: The two companies have formed an equal-ownership joint venture to develop and manufacture eAxle systems and electric motors for the Indian EV market.
• Jindal Stainless: Successfully commissioned a 1.2 MTPA stainless steel melt shop in Indonesia ahead of schedule, taking its total melting capacity to 4.2 MTPA.
• Godawari Power and Ispat: Received approval to set up an Integrated Steel Plant with a capacity of 1.0 MTPA for iron and steel finished products.
• RBL Bank: The Mumbai tax authority has withdrawn a previously issued tax demand of Rs 92 crore, providing a regulatory relief to the lender.
• Indian Bank: Successfully raised Rs 5,000 crore through the issuance of long-term infrastructure bonds.
• Hindustan Zinc & Tata Steel: The companies have expanded their EcoZen partnership to further their sustainability and circular economy initiatives.
• Magellanic Cloud: Its subsidiary secured a significant order worth over Rs 25 crore from Punjab & Sind Bank.
• SEPC: The board has approved the acquisition of Abu Dhabi-based Avenir International Engineers and Consultants LLC.
• Hindustan Foods: Entered into a Business Transfer Agreement to acquire the operations of Ultra Beauty Care Private Limited in Maharashtra.

Neutral Developments

• Waaree Energies: Approved a capital expenditure plan of Rs 3,900 crore to set up a new glass-manufacturing plant to support its solar module business.
• Fedbank Financial Services: The board has approved the issuance of NCDs worth Rs 450 crore on a private placement basis.
• MM Forgings / LIC Housing Finance: Both companies have scheduled board meetings for today to consider fund-raising via equity and other instruments.
• L&T: Announced the merger of its step-down arm, SiliConch Systems, with L&T Semiconductor Technologies to consolidate its semiconductor business.
• Adani Enterprises: Completed the acquisition of the remaining stake in IANS India for a nominal consideration of Rs 4.7 crore.
• Bajaj Finserv: Motilal Oswal has initiated coverage on the stock with a 'Neutral' rating and a target price of Rs 1,900.

Negative News

• HDFC Life: The company has received a tax demand notice of Rs 172 crore, which includes interest and penalties, from the Mumbai tax authorities.
• New India Assurance: Reported receiving a fresh tax demand of Rs 189 crore from the Income Tax Department.
• Power Grid Corp: Emerged as the sole loser among Sensex constituents in the previous session, falling over 1% despite a broad-based market rally.

TAGS: Stocks in News, Stock Market, Buzzing Stocks, Nifty, Sensex

Tags: Stocks in News Stock Market Buzzing Stocks Nifty Sensex