ICICI Bank, Titan Company, L&T, Vodafone Idea, and Hinduja are stocks to keep an eye on
The Indian market indexes, BSE Sensex and NSE Nifty 50, may open modestly on Wednesday, according to GIFT Nifty. Here are some important stocks to keep an eye on while trading.
Focused Stocks: The GIFT Nifty index saw a gain of 37 points, or 0.17%, at 22,230.00 on Wednesday, signaling a favorable start for the local indexes NSE Nifty 50 and BSE Sensex. Earlier on Tuesday, the BSE Sensex finished 305.09 points or 0.42% down at 73,095.22, while the NSE Nifty 50 gained 76.30 points or 0.34% to conclude at 22,198.35.
On February 27, for a total of Rs1356 crore, ICICI Bank purchased 1.65% equity shares of ICICI Lombard General Insurance via the stock market mechanism. After this, ICICI Bank has around 49.5% of the shares in the insurance firm.
As it prepares to join the fabless semiconductor chip design and product ownership market, Larsen & Toubro is assembling a team for its semiconductor chip design company. In November 2023, L&T established L&T Semiconductor Technologies (LTST), a wholly-owned subsidiary.
Vodafone
On February 27, the board of Vodafone Idea authorized a fund-raise of up to Rs 20,000 crore using a mix of equities and equity-linked instruments. In addition, the business hopes to finance an additional Rs 25,000 crore via debt, bringing the total amount raised through a mix of loan and equity to Rs 45,000 crore.
Titan Business
Titan Company Ltd said on Tuesday that it has reached a deal to pay Rs 60.08 crore to purchase the remaining 0.36% of CaratLane. In a regulatory filing, the company stated that Titan Company Limited had executed the necessary paperwork today to buy the remaining 1,19,489 equity shares held by the individual shareholders of CaratLane Trading Private Limited (CaratLane). This represents 0.36% of the total paid-up equity share capital of Rs 2 per share of CaratLane.
GE T&D India
Power Grid Corporation of India (PGCIL) has placed orders worth around Rs 370 crore with GE T&D India Ltd, a division of GE Vernova’s Grid Solutions business, for the delivery of 765 kV Shunt Reactors for PGCIL’s different transmission system projects in India. This announcement was made on Tuesday.
Hinduja
The Rs 9,650-crore resolution plan for Reliance Capital by Hinduja Group company IndusInd International Holdings has been accepted by the National Company Law Tribunal. They said that the decision demonstrated how well the mechanism for bankruptcy resolution handled complicated debt restructuring situations.
DCM Shriram
The firm said that the board of directors had given its permission in principle for its Chemicals division to enter the “Advanced Materials” market by making investments in value-added and epoxy goods. According to a regulatory filing, the business plans to spend Rs 1000 crore over the next five years to build a state-of-the-art, greenfield epoxy production factory.
Mahanagar Gas
The firm said on Tuesday that it has signed a shareholders’ agreement with 3EV Industries Pvt Ltd to purchase 30.97% of the company’s shares.
Torrent Strength
According to a company exchange filing, on February 27, it received a Letter of Intent from PFC Consulting for the establishment of an inter-state transmission scheme called “Transmission System for Evacuation of Power from RE projects in Solapur (1,500 MW) SEZ in Maharashtra” through a tariff-based competitive bidding process.
The Tata Elxsi
The firm has partnered with Telefónica to provide ETSI Open-Source MANO (ETSI OSM)-powered real cloud-native infrastructure management. As per the company’s exchange filing, “Tata Elxsi and Telefónica have improved OSM’s capabilities through this collaboration, introducing innovative features like serverless operations execution environments, infrastructure automation, and the deployment of multi-cloud Platform-as-a-Service (PaaS) solutions.”
The Patanjali
The Supreme Court reportedly ignored a court-issued pledge to abstain from publishing any commercial ads and to avoid speaking disparagingly about “any system of medicine,” so it sent Patanjali Ayurveda and its Director Acharya Balkrishna with a contempt of court summons.
