BUSINESS

NTPC, AU SFB, LTIMindtree, NBCC, Jio Fin, Tata Motors, and Other Stocks to Monitor

March 5 stocks to monitor: In a very turbulent session on Monday, the benchmark market indexes, Sensex and Nifty, closed at fresh record high levels. Due to a number of news events, shares of Tata Motors, Park Hotels, Platinum Industries, Exicom Tele Systems, and IIFL Finance, among others, will be the subject of attention in today’s trading.

Tata Motors: A proposal to split the firm into two separate listed organizations, one focused on passenger cars and the other on commercial vehicles, has received approval from Tata Motors Ltd.

Mahindra & Mahindra: As they lead in receiving advantages under the government’s production-linked incentive (PLI) scheme, Mahindra & Mahindra is expected to win more incentives. Continue reading

IIFL Finance: In an effort to safeguard the interests of its clients, the Reserve Bank of India (RBI) on Monday prohibited the non-banking financial company (NBFC) IIFL Finance from authorizing and disbursing any new gold loans due to “material supervisory concerns.”

Macrotech Developers: In an effort to fund Rs 3,300 crore, the business has launched a qualified institutional placement (QIP).

NTPC: To jointly develop renewable power parks and projects in the state of Uttar Pradesh, NTPC Green Energy Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited have entered into a joint venture agreement.

AU Small Finance Bank: Fincare Small Finance Bank and AU Small Finance Bank, located in Jaipur, have been accepted for merger by the Reserve Bank of India. The combined bank would be headquartered in Jaipur and have a balance sheet exceeding Rs 1.16 trillion as of April 1, 2024.

Godrej Agrovet: According to a banking source close to the situation, the founders of Godrej Tyson Foods are in negotiations to sell a minority share in the business to possible investors, including private equity (PE) firms.

Biocon Biologics: On Monday, Biocon Biologics, a Biocon subsidiary, formally declared a settlement with Bayer and Regeneron Pharma. The planned biosimilar of the EYLEA (aflibercept) injection, Yesafili, may now be sold in Canada thanks to this agreement between Biocon Biologics and the government.

Cadila Pharma: On Monday, Cadila Pharmaceuticals announced the introduction of Cadiflu Tetra, a novel influenza vaccine.

Jio Financial Services: Two of the company’s promoters want to purchase 14 crore shares of the subsidiary. Sikka Ports and Terminals Ltd. and Jamnagar Utilities and Power Pvt. would buy Reliance Industries Holding Pvt. for a combined 2.2% share.

LTIMindtree: The Fosfor Decision Cloud has been unveiled by the company’s product division, Fosfor.

NBCC: The Post Graduate Institute of Medical Education and Research in Chandigarh awarded the company’s unit an order for Rs 92 crore.

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