Let's catch up on the latest news from the stock market. From significant investments to major deals, appointments, order wins and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Stocks to Watch
The company has received two advance work orders worth Rs 10,804.6 crore from Bharat Sanchar Nigam for the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network of BharatNet in Uttarakhand Telecom Circle and Madhya Pradesh, DNH, and DD telecom circles.
The company's subsidiary, Welspun Michigan Engineers, in joint venture with Aaradhyaa & Co, has secured a new order worth Rs 328.12 crore from Brihanmumbai Municipal Corporation (BMC) for the upgradation of the Haji Ali Storm Water Pumping Station in Mumbai, Maharashtra, followed by 15 years of operations and maintenance.
The company has received a Letter of Award (LOA) for a project worth Rs 232.3 crore. The project involves the execution of engineering, procurement, and construction (EPC) works for a ground-mounted solar power project, including operation and maintenance of a 170 MW AC/255 MW DC capacity on a turnkey basis.
The Board approved the execution of a binding Memorandum of Understanding with Ageas Insurance International NV (Ageas) and Ageas Federal Life Insurance Company (AFLIC) for the acquisition of a 4% equity stake by the bank in AFLIC, from Ageas. Post-acquisition of the 4% stake, the bank's stake in AFLIC will increase to 30% from 26%.
The automobile company has received a draft assessment order for FY22 from the Income Tax Authority, wherein certain additions/disallowances amounting to Rs 2,966 crore with respect to the returned income (disclosed by the company in its income tax return) have been proposed.
The Madhya Pradesh government has declared the company as the preferred bidder for the mining lease of the Jamodi Mahanna Sector I (Part B) limestone block with an area of 416.73 hectares, and the Jamodi Mahanna Sector II (Part B) limestone block with an area of 264.156 hectares.
The Board will meet on March 28 to consider raising funds via the issue of one or more instruments/securities.
Oil and Natural Gas Corporation
The company will make an investment of Rs 3,300 crore in subsidiary ONGC Green via rights issue. The subsidiary will utilize the proceeds for the acquisition of a 100% equity stake in Ayana Renewable Power through ONGC NTPC Green (ONGPL). ONGPL is a 50:50 joint venture company of ONGC Green and NTPC Green Energy. The company's subsidiary ONGC Videsh will invest up to Rs 1,500 crore in Beas Rovuma Energy Mozambique. Beas Rovuma Energy Mozambique is a subsidiary of ONGC Videsh with 60% shareholding, and the other joint venture partner is Oil India.
The National Company Law Tribunal (NCLT), Mumbai, has sanctioned the Scheme of Arrangement between Siemens and Siemens Energy India. As a result, the company's energy business will be demerged into Siemens Energy India.
Brainbees Solutions (Firstcry)
The Board has approved the proposal to infuse funds up to Rs 146 crore in Globalbees Brands via subscription to Compulsory Convertible Preference Shares, and AED 9 million (approximately Rs 20.98 crore) in Firstcry Management DWC LLC, UAE, via equity shares. Both are the company's subsidiaries.
The company's subsidiary, TVS Motor (Singapore) Pte, has agreed to acquire an additional 8.26% stake in GO Corporation, Switzerland, from its existing shareholder for CHF 500,000.
The bank has received an income tax demand order worth Rs 558.96 crore for AY 2023-24. The bank is in the process of filing an appeal before the appropriate forum within prescribed timelines. The order will have no impact on the financials, operations, or other activities of the bank.
The company has executed a Share Purchase Agreement (SPA) with Kallol Enterprise for the sale of its entire 75% equity stake in Jyothy Kallol Bangladesh (JKBL) to Kallol Enterprise, for Bangladeshi Taka 3,01,92,134. Accordingly, JKBL has ceased to be a subsidiary of the company.
BHEL has extended its Technology Collaboration Agreement (TCA) with Vogt Power International Inc., USA, for heat recovery steam generators.
The company's subsidiary, Indegene Ireland, with the intention to expand its business, has agreed to acquire, in a phased manner, MJL Communications Group and its subsidiary MJL Advertising on a debt-free, cash-free basis for GBP 3.4 million.
The company's subsidiary, DLF Home Developers, has acquired a 49.997% stake and compulsorily convertible debentures in DLF Urban, from Reco Greens, for Rs 496.73 crore. DLF Urban is a subsidiary of DLF Home Developers.
The company has commenced commercial operations of its float glass facility at Soniyana, Rajasthan.
The company has made an investment of Rs 40 crore in Aditya Birla Capital Digital on a rights basis. Post this investment, there is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Capital Digital continues to be a wholly owned subsidiary of the company.
The Board has approved the proposal for a buyback of up to 37.12 lakh equity shares (representing 2.57% stake) of the company, for Rs 150 crore at a price of Rs 404 per share.
The Board has approved the appointment of Durgesh Kumar Dubey as Managing Director & CEO of Dredging Corporation of India, effective April 16.
The Board approves the acquisition of a 5.03% stake in Mynd Solutions for Rs 102.7 crore by the company. Mynd Solutions is a Reserve Bank of India regulated Trade Receivables Electronic Discounting System (TReDS) and supply chain financing platform. The total stake held by Jindal Stainless and its subsidiary, Jindal Stainless Steelway, in Mynd Solutions increased to 9.62%.
The Board has given its approval to an internal restructuring plan involving its existing wholly owned subsidiaries in the USA. Granules USA, Inc., the company's subsidiary in the US, will transfer its business and substantially all of its net assets to Granules Pharmaceutical, Inc. (GPI) to facilitate the transaction. The plan will not result in any change in the ultimate ownership of the company over its subsidiaries or in the nature of the business carried out in the US. The plan is expected to reduce the number of legal entities, simplify the legal, tax, and operational structures, create a unified holding structure, and improve market focus.
The company will inaugurate its 5.4 GW solar cell manufacturing plant at Chikhli, Gujarat, on March 29.
The Competition Commission of India has approved the acquisition of 100% equity shareholding in 11 road special purpose vehicles owned by Ashoka Concessions and Ashoka Buildcon by Epic Concesiones 2.
Indian Railway Finance Corporation
The company has entered into a loan agreement with NTPC Renewable Energy for the financing of a rupee term loan of Rs 5,000 crore.
The company has received an order from the Income Tax Department, raising a demand of Rs 175.10 crore (including interest). The said order will not have any material financial impact on the company.
Indian Renewable Energy Development Agency (IREDA)
The Board has approved the borrowing program of up to Rs 30,800 crore for FY 2025-26. IREDA has raised Rs 910.37 crore through the issuance of privately placed subordinated Tier-II bonds for a 10-year tenor at an annual coupon rate of 7.74%.
The company has declared the commercial operation of the 100 MW capacity (the third and last part capacity) out of the 320 MW Bhainsara solar PV project in Jaisalmer, Rajasthan.
The company has sold out the entire launched inventory of its residential plotted development project, Arvind The Park in Devanahalli, Bengaluru. It consisted of 200 units valued at over Rs 180 crore.
The Board has approved a strategic investment of Rs 6 crore for a 51% stake in FABBCO Bio Cycle and Bio Protein Technology, and Rs 14 crore for a 51% stake in GSM Marine Export.
The global technology company announced the launch of HCLTech Insight, an agentic AI-powered Industry-Focused Repeatable Solution (IFRS) designed to equip manufacturers with advanced data insights and analytics capabilities.
The company has incorporated a step-down wholly-owned subsidiary, Infosys BPM Netherlands B.V.
The company has become a L1 bidder for the contract of OPGW-04 package, from Power Grid Corporation of India. The contract involves the supply and installation of optical ground wire (OPGW) and communication equipment for various transmission lines in India.
Bulk Deals
Axis Securities sold 27.29 lakh shares in Kesoram at an average price of Rs 5.47 per share.
Plutus Capital Management LLP bought 14,400 shares in Resourceful Automobile at an average price of Rs 53.02 per share.
Block Deals
Samvardhana Motherson International
Goldman Sachs (Singapore) Pte - ODI bought 65.48 lakh shares in Motherson at an average price of Rs 132.7 per share, from Kadensa Master Fund.
Integrated Core Strategies (Asia) Pte bought 9.8 lakh shares in the bank at an average price of Rs 195.8 per share, from UBS AG.
Integrated Core Strategies (Asia) Pte acquired 2.64 lakh shares in Glenmark at an average price of Rs 1,492.65 per share, from UBS AG.
Integrated Core Strategies (Asia) Pte purchased 11 lakh shares in Max Financial Services at an average price of Rs 1,157.35 per share, from UBS AG.
Stock Trades Ex-Bonus
Dhanalaxmi Roto Spinners
Stocks Trade Ex-Dividend
REC
TVS Motor Company
Stock Trades Ex-Date for Income Distribution (InvIT)
Interise Trust
Stocks in F&O ban
IndusInd Bank
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