Market Live
STOCKS IN ACTION 2 March Zee Entertainment Enterprise: A Delhi court has ordered Bloomberg to take down an article that alleged corporate governance issues at the company and reported that the market regulator has found a $241 million accounting issue at the company. One 97 Communications: The Financial Intelligence Unit of India has imposed a penalty of Rs 5.49 crore on Paytm Payments Bank for violations of the bank’s obligations under the Prevention of Money Laundering Act, 2002. Jio Financial Services: The Bombay Stock Exchange announced its periodic reconstitution of S&P BSE Indices on Thursday, with Jio Financial Services being the only addition to the S&P BSE Large Cap. Axis Bank: The company approved the raising of Rs 4,000 crore via long-term bonds, non-convertible debentures, and other debt instruments. The fundraise will have a base issue size of Rs 1,000 crore and a green shoe option of Rs 3,000 crore. Asian Paints: The company will set up a new water-based paint manufacturing facility in Madhya Pradesh with a capacity of 4 lakhs KL per annum. The approximate investment for the facility is Rs 2,000 crore. Torrent Power: The company received a Rs 2,700 crore order from Railway Energy Management for installing about 325 MW of renewable capacity. The company received a letter of award from NTPC Vidyut Vyapar Nigam to supply power from a a gas-based power project. Info Edge: Google removes Info Edge’s job search app Naukri and property search app 99acres from Play Store enforcement action. Tanla Platforms, Vodafone Idea: Tanla Platforms has signed a definitive Memorandum of Understanding with Vodafone Idea Business Services Ltd. to deploy ‘Messaging as a platform’ in India. Cipla: The U.S. FDA conducted a pre-approval inspection at the manufacturing facility in China from Feb. 26 to March 1 and concluded with zero Form 483 observations. PVR Inox: The company opened a 4-screen multiplex in Patna and a 14-screen multiplex in Pune. Larsen and Turbo: The company’s arm has transferred the remaining 25% stake in step-down unit IIML to Allianz Infrastructure Luxembourg on Feb. 29. Maruti Suzuki India: The company reported total production volume at 1.78 lakh units vs. 1.59 lakh units year-on-year for the month of February. Hero MotoCorp: The company reported total sales at 4.68 lakh units vs. 3.94 lakh units year-on-year and total exports at 23,153 units vs. 12,143 units. Welspun Corp.: The company’s unit proposed to set up a manufacturing facility for plastic pipes and water storage tanks in Madhya Pradesh for an investment of Rs 400 crore. Rainbow Children Hospital: The company has inaugurated a new 80-bed hospital in Tamil Nadu. After this, the total bed capacity of the company will increase to 1,885 beds. The total project cost is Rs 60 crore. Lemon Tree: The company signed a franchise agreement for an upcoming hotel in Udaipur, Rajasthan, under its brand, ‘Keys Lite’. PFC: The company incorporated Bhuj II Transmission for the development of ‘Augmentation of Transformation Capacity at Bhuj-11 PS and Angul Sundargarh Transmission for the development of ‘Eastern Region Transmission Limited Generation Scheme-l’. FSN E-Commerce Ventures: The company expands its global footprint with the launch of Nysaa, the first ever beauty retail store in Dubai, in collaboration with Apparel Group. S H Kelkar and Company: The company incorporated a wholly owned subsidiary in New Jersey, USA. Angel One: The company collaborated with a group of seasoned wealth managers to lead its tech-led omnichannel wealth management business. Ganesha Ecosp The company announced the start of commercial operations at its subsidiary’s production lines for recycled polyester staple fibre and PET chips in Telangana. Harsha Engineers: The company has terminated HASPL Americas Corp., a wholly owned subsidiary of the company, in accordance with applicable laws as per a certificate issued by the state corporation commission
Tue. Mar 5th, 2024
PSU Banks Surpassing Expectations in 2024: A Game-Changer for Mutual Funds”PSU Banks Surpassing Expectations in 2024: A Game-Changer for Mutual Funds”
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Stock Updates: Recent Developments in Indian Companies

Company Update
Grasim Industries Board approves a rights issue up to Rs 4,000 crore with an issue price of Rs 1,812/share; Record date on January 10, 2024.
Suntv The board approves the scheme of amalgamation of Udaya FM Private Ltd with Kal Radio Ltd.
Vodafone Idea Limited Received an Order levying a penalty of Rs 10.76 Crs under the Central Goods and Services Tax Act, 2017.
Hindustan Zinc Limited Leads globally in the S&P Global Corporate Sustainability Assessment, scoring highest among 238 companies in the metals and mining sector.
UltraTech Cement Limited Issued a corporate guarantee of USD 147 million in favor of Sumitomo Mitsui Banking Corporation Singapore Branch.
Lupin Received tentative approval from the USFDA for Dapagliflozin and Saxagliptin tablets, a generic equivalent of Qtern tablets of AstraZeneca AB.
Jupiter Wagons Limited Entered into a contract with the Government of India and Ministry of Defence for the manufacture and supply of 697 numbers of BOGIE OPEN MILITARY (BOM) WAGONS for a contract value of Rs. 473 Crores.
Dabur India Estimated revenue in Q3 is expected to grow to a mid-to-high single digit, driven by the food business.
PFC Increased FY24 market borrowing plan to Rs 1.05 lakh crore from Rs 80,000 crore.
REC REC Power Development and Consultancy signed a Rs 2,094 crore MoU with the Gujarat Government for the implementation of a smart metering project in Paschim Gujarat Vij Company.

These updates provide a comprehensive overview of significant activities and financial decisions across various sectors.

 

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