Top 10 Stocks to watch Today
Adani Enterprises: Karan Adani, MD of Adani Ports and Special Economic Zone, announced on Sunday that the Adani Group is set to invest approximately ₹60,000 crore in the expansion of its seven existing airports over the coming 5-10 years. He said that about half of this investment will be directed towards enhancing terminal and runway capacity within the next five years.
Interglobe Aviation: Reports suggest that Rakesh Gangwal, co-founder of IndiGo, is contemplating selling a stake of up to 5.8 percent in Interglobe Aviation, the parent company of the airline. This is a significant increase from his initial plan of selling a 3.3 percent stake, as reported by CNBC-TV18 on March 8. The intended equity sale is projected to generate close to ₹6,600 crore, with shares priced at a minimum of ₹2,925 each.
HDFC Bank: The lender has initiated the process for the initial public offering of its subsidiary, HDB Financial Services. The bank plans to schedule the share sale of its financial services division in either the last quarter of 2024 or the first quarter of 2025, according to people in the know.
Reliance Industries: Viacom18, owned by Reliance Industries, has restructured its entertainment businesses under the leadership of two key executives, in anticipation of its impending $8.5-billion merger with Disney’s India unit. In the new arrangement, Kiran Mani, who assumed the role of Chief Executive of Digital Business (JioCinema) in November last year, will now head the digital and sports businesses.
SJVN: SJVN Green Energy, a subsidiary of the state-owned SJVN, has signed a long-term agreement to deliver 600 MW of solar power to Rajasthan. The Power Usage Agreement (PUA) involves the supply of 500 MW of solar power from the Bikaner Solar Power Project, and the Power Purchase Agreement (PPA) includes the provision of 100 MW of solar power from the Rajasthan Solar Power Project. .
Zee Entertainment Enterprises: On Saturday, Zee Entertainment Enterprises announced significant changes in the revenue section of its broadcast business, a move spearheaded by its Managing Director and Chief Executive, Punit Goenka. With these changes, Rahul Johri, who held the position of President, Business, at Zee Entertainment Enterprises, has resigned from the company after serving for three and a half years.
Sun Pharmaceuticals: The company is withdrawing approximately 55,000 bottles of a generic gout medication from the US market due to deviations from manufacturing practice norms, as reported by the US health regulator. The New Jersey branch of the Mumbai-based company is recalling Febuxostat Tablets in strengths of 40 mg and 80 mg, as stated in the latest Enforcement Report by the US Food and Drug Administration (USFDA).
Rail Vikas Nigam Limited: The railway construction company announced on March 9 that it has been commissioned by the Madhya Pradesh Metro Rail Corporation to design and build an elevated viaduct, five elevated metro stations, and a ramp between chainages. According to the company’s stock exchange filing, the project is slated for completion in approximately three years, with the total cost of the order amounting to ₹543.
Nazara Technologies: The gaming company is reportedly planning to acquire Smaaash Entertainment Pvt. Ltd through the insolvency and bankruptcy process, according to two individuals familiar with the situation. As a part of this process, Nazara has submited its resolution plan by 9th March with the aim of reviving the bankrupt firm.
