Let’s dive into the latest happenings in the stock market. Here’s a brief look at some key stocks that are drawing attention today.
Stocks in the Spotlight
Zomato and Jio Financial Services
Starting March 28, Zomato and Jio Financial Services will take the place of Britannia Industries and Bharat Petroleum in the Nifty 50. Additionally, several companies including Bajaj Housing Finance and Swiggy are moving into the Nifty Next 50 index.
Bharti Airtel
Bharti Airtel is planning to increase its share in Airtel Africa plc by up to 5% over the next year. Currently, its subsidiary holds over 57% of Airtel Africa.
Coal India
Coal India is teaming up with EDF India to work on renewable energy projects, including a joint venture focused on PSP projects in India and nearby countries.
Crompton Greaves
Crompton Greaves has appointed Tanmay Prusty as the new Chief Marketing Officer, effective February 24.
Zaggle Prepaid Ocean Services
Zaggle has partnered with Indus Towers to provide employee expense management services called Zaggle Save.
Jagsonpal Pharmaceuticals
Jagsonpal is acquiring the India business of Resilient Cosme-Ceuticals for Rs 24 crore. It’s also dealing with a warning letter from the US FDA related to a manufacturing inspection.
Adani Green Energy
Adani Green Energy has launched a new 250 MW solar power project in Rajasthan, increasing its total renewable capacity to over 11,900 MW.
Lupin
Lupin received an Establishment Inspection Report from the FDA for its New Jersey facility after a recent inspection.
Rail Vikas Nigam
This company secured a Rs 156.35 crore project from South Western Railway for engineering and construction work.
Ujjivan Small Finance Bank
The bank’s board approved selling non-performing and written-off loans worth Rs 364.51 crore to an asset reconstruction company, indicating a 66.51% provision on this pool.
Paisalo Digital
Due to market fluctuations, Paisalo decided to withdraw its proposal for a large equity issue.
Bajaj Auto
Bajaj Auto’s board has agreed to invest up to 150 million euros in its Netherlands subsidiary in various forms.
Granules India
Granules is acquiring Senn Chemicals in Switzerland for Rs 192.5 crore, strengthening its portfolio in peptide technology.
Allcargo Logistics
Allcargo reported a 4% rise in LCL volumes year-on-year, while FCL volumes also increased, but both are expected to soften soon.
RailTel Corporation of India
RailTel has secured a Rs 288.15 crore project from the East Central Railway.
Swiggy
Swiggy’s board plans to invest up to Rs 1,000 crore in its subsidiary, Scootsy Logistics, for capital needs.
Ami Organics
Ami Organics is splitting its shares from Rs 10 to Rs 5 to improve liquidity.
SRF
SRF recently completed a fluorocarbon gas project in Dahej, investing Rs 361 crore in expansion.
Vedanta
Vedanta emerged as the top bidder for the Kauhari Diamond block, revealing significant interest in mining exploration.
Brigade Enterprises
Brigade aims to invest Rs 1,500 crore in Kerala over five years, generating opportunities with new developments including a World Trade Center and luxury resort.
Direct-to-Home (DTH) Stocks
Good news for DTH companies! India’s telecom regulator, TRAI, plans to lower the authorization fee for DTH services from 8% to 3%, and it may drop to zero by 2026-27.
Bulk Deals
SBI Mutual Fund made a significant move by acquiring a 0.5% stake in Alkem Laboratories, showing confidence in the pharma sector.
Recent Listings
Keep an eye on companies listed recently, including Quality Power Electrical Equipments and Royal Rrc Electrodes.
This roundup highlights the dynamic changes in the stock market, showcasing both challenges and opportunities. Stay informed as these trends develop!
