Let's catch up on the latest news from the stock market. From significant investments to major deals, appointments, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
KSB, Sanofi India, and Schaeffler India will release their earnings scorecard on February 27.
SpiceJet Q3 (Consolidated YoY)
Profit stands at Rs 20.4 crore Vs loss of Rs 298.6 crore
Revenue drops sharply by 35% to Rs 1,237 crore Vs Rs 1,914.4 crore
Stocks To Watch
Bharti Airtel and the TATA Group are in bilateral discussions to explore a potential transaction to combine TATA Group’s direct-to-home (DTH) business housed under Tata Play, with Bharti Telemedia, a subsidiary of Airtel, in a structure acceptable to all parties.
The company has signed a Memorandum of Understanding (MoU) with the Renewable Energy Department, Government of Madhya Pradesh, for setting up various solar, wind, hybrid, BESS, and biomass-based projects in Madhya Pradesh.
The company has signed a Memorandum of Understanding (MoU) with the Assam Government to tie up and support up to 5,000 MW of renewable and clean energy projects comprising solar, wind, hydro, and energy storage, with an investment of Rs 30,000 crore over the next 5 years.
The company's subsidiary, Adani Saur Urja (LA), has received a Letter of Award (LOA) from Uttar Pradesh Power Corporation (UPPCL) for the procurement of 1,250 MW energy storage capacity from pumped hydro storage projects. The capacity is secured through the e-Reverse Auction conducted by UPPCL. The annual fixed cost payable under the LOA is Rs 76,53,226 per MW per annum (taxes extra) for 40 years from COD.
The Board will be meeting on March 4 to consider an alteration in the share capital of the company by subdividing or splitting the existing equity shares.
Waaree Energies, Waaree Renewable Technologies
The company has received an order for the supply of solar modules for 410 MWp from ABREL EPC, a wholly-owned subsidiary of Aditya Birla Renewables. Additionally, the Assistant Commissioner of State Tax, Mumbai, on February 25, conducted a search at the registered office of the company and its subsidiary, Waaree Renewable Technologies. The company’s normal operations have not been impacted.
The Board has declared the Scheme of Arrangement with Kesoram Industries to be effective from March 1, 2025. The company will issue 1 equity share of Rs 10 each of the company for every 52 equity shares of Rs 10 each held by equity shareholders of Kesoram Industries. Additionally, the company will be setting up a wires and cables plant near Bharuch in Gujarat with a capital expenditure of Rs 1,800 crore over the next two years, and the said plant is expected to be commissioned by December 2026. The investment will be financed through a mix of internal accruals and/or borrowings.
The company has received the Establishment Inspection Report (EIR) from the US FDA for its API manufacturing facility (CTO-2) in Bollaram, Hyderabad. The USFDA has classified the inspection as Voluntary Action Indicated (VAI) and concluded that the inspection is closed. The US FDA had conducted the inspection of the facility from November 13 to November 19, 2024.
The United States Food and Drug Administration (US FDA) had conducted a current Good Manufacturing Practices (cGMP) inspection of the company’s API manufacturing facility at Pune, Maharashtra, during February 19 to February 25. After the inspection, the company received two observations in Form 483.
The company's subsidiary, Caplin Steriles, has received final approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution (eye drops). It is a generic therapeutic equivalent version of the reference listed drug (RLD) Combigan, by AbbVie Inc. Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution is used for the reduction of elevated intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.
The company has signed a Memorandum of Understanding (MoU) with Creative Channel Advertising and Marketing for the proposed sale of FM radio broadcasting operations (comprising three FM radio stations in Mumbai, Delhi, and Kolkata under the frequency 104.8 FM) as a going concern, for Rs 20 crore. The sale is expected to be completed on or before January 2026.
The Board will be meeting on March 5 to consider the declaration of an interim dividend for the financial year 2024-25.
The company has extended the acquisition of SBC Beverages Ghana, up to March 31, from the previously intimated February 28. The company signed a Share Purchase Agreement on November 12, 2024, with Ghana Bottling Company to acquire 100% of the shares in SBC Beverages Ghana for Rs 127.1 crore.
The company plans to execute a Business Transfer Agreement with Geojit Investments on March 21 for the transfer of the securities broking business (including clearing and settlement), margin financing business, depository participant services, and business research analyst business. It has received all required approvals from the regulator, exchanges, and depositories for the business transfer.
The company has announced a strategic corporate agency tie-up with Aditya Birla Health Insurance Company to expand the reach of health insurance solutions across the Vakrangee Kendra network, particularly in underserved and remote regions.
The digital engineering and cloud transformation company has secured multiple contracts worth $85 million from a UK public service department, spread over a period of 2 years.
The company has received an order from the Government of West Bengal, Directorate of Commercial Taxes, demanding tax along with interest and penalty of Rs 5.89 crore for the FY 2020-21.
The company has commenced the commercial operations of a new specialized multi-brand store, The Charcoal Project, in Hyderabad, Telangana.
A First Information Report (FIR) has been registered by the Central Bureau of Investigation (CBI), Chandigarh, against Godrej Estate Developers. The CBI alleged that the clearance from the National Board of Wildlife was not obtained because the project, Godrej Eternia, falls within 10 km of Sukhna Wildlife Sanctuary, which constitutes a violation of the Environmental Clearance for the project.
The Government of Assam has initiated the development of a ropeway project and entered into a Memorandum of Understanding (MoU) with G R Infraprojects for the development of a ropeway from Sonaram field to Bhubaneshwari temple, Kamakhya, in Guwahati. The proposed investment in the project is Rs 270 crore.
The company has received a purchase order from the Medical Stores Department, Tanzania, for the supply of male condoms worth Rs 42 crore.
The company has received contracts worth Rs 11.79 crore for the supply of micro-irrigation systems from the Community Micro Irrigation Project.
The company has commenced manufacturing activities at its greenfield Active Pharmaceutical Ingredient plant in Mehsana, Gujarat.
The technology services and consulting company will be committing $200 million to its venture arm, Wipro Ventures, in its latest round of funding. This is the fourth round of funding raised by Wipro Ventures since its inception 10 years ago and is aimed at accelerating the company’s investments in early- to mid-stage startups.
The Board has approved raising funds up to Rs 750 crore via Qualified Institutions Placements (QIP), preferential issue, private placements, or other modes.
The company has executed a Preferred Financier Agreement with Bgauss Auto. Bgauss Auto will provide retail financing to its customers on a non-exclusive basis, and Manba Finance has agreed to associate with Bgauss Auto for providing financing facilities to its customers.
The company has received a letter from NHAI informing about the termination of the contract for the road project in Punjab. The National Highways Authority of India, in May 2022, had entered into a contract agreement with Ceigall India - Krishna Constructions (joint venture) for the construction of a four-lane Greenfield Amritsar connectivity on an EPC mode under Bharatmala Pariyojana in Punjab. NHAI has agreed to pay damages equivalent to 1% of the contract price. The said project formed part of an ongoing project under the EPC model (bid project cost of Rs 1,071 crore).
The company has commissioned its MDF plant in Tirupati, Andhra Pradesh, with an installed capacity of 2,31,000 CBM per annum.
Bulk Deals
Goldman Sachs Funds - Goldman Sachs India Equity Portfolio sold 89,314 equity shares in the company at an average price of Rs 1,960 per share.
Generic Engineering Construction and Projects
Divam Sharma bought 2,90,053 shares (0.5% stake) in the company at an average price of Rs 27.86 per share. However, Unlisted Assets Private Limited sold 2,88,029 shares at the same price.
Stock Trades Ex-Date for Rights
Shri Niwas Leasing and Finance
Stocks in F&O Ban
Manappuram Finance
Stocks removed from F&O Ban
Chambal Fertilisers and Chemicals
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