Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Markets / Stock Markets/  Stocks to Watch: L&T, UPL, JSW Energy, Tata Motors, Sun Pharma, PTC India

Here is the list of the top 10 stocks that will be in focus today:

L&T: India's largest construction company Larsen & Toubro and Canadian pension fund manager Canada Pension Plan Investment Board on Saturday said that they have agreed to transfer their 100% shareholding in L&T Infrastructure Development Projects and its subsidiaries to Edelweiss Alternative Asset Advisors's Infrastructure Yield Plus Strategy fund for an enterprise value of 6,000 crore. L&T Infrastructure Development Projects is a joint venture between L&T and Canada Pension Plan Investment Board holding 51% and 49% stake respectively.

UPL: UPL has announced the completion of an investment of 2,474 crore by global investment firm KKR for a 13.33% stake in Advanta Enterprises, agritech arm of UPL, formerly known as United Phosphorus Ltd. This is a part of the larger corporate realignment exercise announced in October 2022 to create four distinct business platforms -- Global Crop Protection, India Agtech, Global Seeds and Manufacturing and Specialty Chemicals. On October 21, UPL announced that ADIA, Brookfield, KKR and TPG will separately invest 4,040 crore for minority stakes in UPL's pure-play business platforms.

JSW Energy: JSW Energy arm JSW Energy (Barmer) Ltd has issued over 99 crore bonus shares worth 995.90 crore. "JSW Energy (Barmer) Ltd, a wholly-owned material subsidiary of the company, has completed a bonus issue of 99,59,09,996 fully paid-up equity shares of 10 each amounting to 9,95,90,99,960," according to a regulatory filing on Friday. Before the issuance of bonus shares, the company's share capital was 1,99,18,19,998 fully paid-up equity shares of 10 each, amounting to 19,91,81,99,980.

Tata Motors: Automobile major Tata Motors on Friday announced that Bengaluru Metropolitan Transport Corporation (BMTC) has signed an agreement with its subsidiary company for the operation of 921 low-floor electric buses in the city. As part of the agreement, subsidiary firm TML Smart City Mobility Solutions will supply, operate and maintain 921 units of electric buses for 12 years, Tata Motors said in a statement.

PTC India: State-run Power Grid Corp. of India Ltd, Power Finance Corp. of India Ltd (PFC), NTPC Ltd and NHPC Ltd have decided to sell their stakes in PTC India Ltd, the country’s largest power trading company after allegations surfaced of lapses in corporate governance. Each of the four promoters —NTPC, NHPC, Power Grid Corp. and PFC—currently holds 4.05% of the listed entity, with the collective promoter holding 16.22%

Sun Pharma: Drug major Sun Pharma on Friday said it has received a warning letter from the US health regulator for its Halol facility which is already under an import alert. The warning letter summarises violations with respect to Current Good Manufacturing Practice (cGMP) regulations, the Mumbai-based company said in a regulatory filing. The US Food and Drug Administration shall make public the contents of the Warning Letter in due course, it added.

Tech Mahindra: Tech Mahindra on Friday announced the company had divested its 100% stake in Dynacommerce Holdings B.V., a wholly-owned subsidiary of the company. "The Company has approved the sale of 100% stake in Dynacommerce Holdings B.V., a wholly owned subsidiary of the Company to Comviva Netherlands B.V., a step-down subsidiary of the Company," said the company in its corporate filing. The agreement for this is expected to be signed during the first week of January 2023 for a consideration of Euro 6.6 million.

Ashoka Buildcon: Leading highway developer Ashoka Buildcon has informed the National Stock Exchange about the sale/disposal of the stake in Jaora-Nayagaon Toll Road Company (JTCL) by Ashoka Concessions and Viva Highways under the regulations of the Securities and Exchange Board of India (Sebi). The expected date of completion of the sale or disposal would be on or before July 31, 2023, subject to the completion of certain conditions, according to a statement shared with the exchange on Saturday.

Dr Reddy's Laboratories: Dr Reddy's Laboratories on Saturday said its subsidiary DRRDBV has entered into a pact to sell certain assets and liabilities of its Netherlands-based site. Dr Reddy's Research and Development B V (DRRDBV), a wholly-owned subsidiary of the Hyderabad-based company, has entered into an asset purchase agreement with Delpharm Development Leiden BV, part of France-based Delpharm Group, the drug firm said in a regulatory filing.

Bank of Maharashtra: The Bank of Maharashtra on Friday said it appointed Prashant Kumar Goyal as Director of the lender with effect from Thursday. According to a statement from the lender, Prashant Kumar Goyal is a 2007 batch IAS officer of the Tripura cadre, who was on central deputation and working as a director in the Department of Financial Services. The lender's statement said he has more than 15 years of work experience in management, administration and public policy, among others.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 19 Dec 2022, 07:56 AM IST
Next Story
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App