From Tata Power's preparedness for the summer to Zydus' drug approval, here are the stocks to watch out for in today's session.
Adani Group | The conglomerate on Tuesday denied a news report published by The Ken which claims that the Group has not repaid its $2.15 billion share-backed debt. The group has strongly refuted these claims, stating that it has completed full prepayment of margin-linked share-backed financing aggregating to $2.15 billion and all corresponding shares pledged for those facilities have been released.
Vedanta | The company approved its fifth interim dividend worth Rs 20.5 per share for the current financial year, taking the total payout to Rs 7,621 crore. The current dividend announcement takes the total payout for the full year to Rs 100.50. For the full year, the total dividend payout is now Rs 37,730 crore.
Tata Power | The company on Tuesday said it is ready to manage the increased demand for power in the city this summer without any load shedding. The company discussed its summer preparedness, consumer initiatives and transmission and distribution roadmap in Mumbai. The company also launched a fleet of electronic vehicles for its Mumbai-based operations and maintenance work. During the briefing, the company discussed the measures it has taken to ensure that there will be no load shedding during summer.
NTPC | NTPC Renewable Energy will supply 1,300 MW of round-the-clock clean power to Greenko’s upcoming green ammonia plant at Kakinada. NTPC Renewable Energy Ltd., a wholly-owned subsidiary of NTPC Green Energy Ltd., has signed a term sheet with Greenko ZeroC Pvt. Ltd. (A Greenko Group company) on March 28, 2023, to supply 1,300 MW round-the-clock RE Power for powering Greenko’s upcoming green ammonia plant at Kakinada, a statement said.
Larsen & Toubro | Engineering and construction conglomerate on Tuesday said it has issued non-convertible debentures (NCDs) worth Rs 2,000 crore, which will mature on April 28, 2028. The debentures are proposed to be listed on the National Stock Exchange of India Ltd and the interest on the said debentures will be paid on an annual basis, the company added.
Jindal Stainless | The stainless steel maker on Tuesday said it is acquiring a 49 percent equity interest for a consideration of around $157 million in Indonesia-based New Yaking Pte. Ltd. The newly-entered collaboration agreement will help JSL with an ample supply of nickel pig iron (NPI). Jindal Stainless aims to develop, construct and operate an NPI smelter facility located in an industrial park in Halmahera Islands, Indonesia. Currently, JSL meets the bulk of its nickel requirement through stainless steel scrap and NPI/Ferro nickel.
Aster DM Healthcare | The company on Tuesday said its main promoters, the family of its founder Azad Moopen, recently bought the 4 percent stake held by a private equity investor for Rs 460 crore, increasing their holding to 41.88 percent. The deal values Aster DM Healthcare at $1.4 billion, the company said. Its turnover stood at Rs 10,253 crore in FY22. The family held 37.88 percent before this transaction in the hospital chain, which nets most of its revenue from the Gulf markets.
KEI Industries | Cables manufacturer on Tuesday said that it has entered into a strategic association with Royal Challengers Bangalore (RCB) as Principal Partner for the Indian Premier League (IPL) for three years. Under the deal, players and official team members of RCB will sport the KEI logo on the back of their official match jersey, KEI Industries said in a statement.
Zydus Lifesciences | Pharmaceutical company on Tuesday said it has received approval from the US health regulator to market loperamide hydrochloride capsules. Loperamide hydrochloride capsule is indicated for the control and symptomatic relief of acute nonspecific diarrhea and chronic diarrhea associated with inflammatory bowel disease. The drug had annual sales of $34.7 million in the US as per the IQVIA data of January 2023. The drug will be manufactured at the group's formulations manufacturing facility in Ahmedabad.
South Indian Bank | Thrissur-based private lender on Tuesday said its incumbent MD and CEO Murali Ramakrishnan has decided not to seek another term. In an exchange filing, the lender said Ramakrishnan will not seek a re-appointment due to personal reasons on completion of his current term, which ends on September 30, 2023. The Search Committee, constituted by the board, will identify and evaluate suitable candidates for the position of managing director and CEO, the bank said.