Here’s a quick look at stocks likely to be in focus in today’s trade.
Vedanta: Vedanta is set to invest $2 billion in Saudi Arabia to establish copper-processing facilities, aligning with the kingdom’s goal to become a global mining and metals hub. The investment will fund a smelter and refinery with an annual capacity of 400,000 metric tonnes. Additionally, the company plans to build a facility to produce up to 300,000 tonnes of copper rods annually, a key component for electric cables.
UltraTech Cement: India’s largest cement manufacturer, UltraTech Cement, has approved the allotment of unsecured redeemable non-convertible debentures (NCDs) worth ₹1,000 crore via a private placement. The NCDs, carrying an interest rate of 7.22 percent, will mature on November 24, 2034, and will be listed on the National Stock Exchange (NSE).
Kotak Mahindra Bank: The Competition Commission of India (CCI) has approved Kotak Mahindra Bank’s acquisition of Standard Chartered Bank India’s personal loans portfolio for ₹4,100 crore. According to the CCI, this acquisition involves Kotak taking over the unsecured personal loans portfolio from Standard Chartered Bank’s India branch.
Aster DM Healthcare: Aster DM Healthcare announced plans to acquire the remaining stake in Aster Adhaar Hospital (Prerana Hospital Limited) in Kolhapur, Maharashtra. With this move, Aster DM Healthcare will increase its ownership to 100 percent from the previous 87 percent. The acquisition will occur in two tranches, with completion expected by December 31, 2025.
Exide Industries: Exide Industries has invested ₹99.99 crore in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL), through a rights issue. This brings the company’s total stake in EESL to ₹3,052.24 crore while maintaining 100 percent ownership. EESL focuses on manufacturing lithium-ion battery cells, modules, and packs for electric vehicles (EVs) and stationary applications.
NTPC: NTPC Green Energy, under the Ministry of Power, has partnered with Maharashtra State Power Generation Company (MAHAGENCO) to form a 50:50 joint venture named MAHAGENCO NTPC Green Energy Private Ltd (MNGEPL). This collaboration aims to develop and operate renewable energy parks in Maharashtra under the Ultra Mega Renewable Energy Power Parks (UMREPP) programme.
Siemens: Siemens reported a 45.4 percent year-on-year (YoY) increase in net profit for Q4 FY24, reaching ₹830.7 crore, compared to ₹571.3 crore in the same period last year. Revenue from operations grew 11.2 percent YoY to ₹6,461 crore.
Patanjali Foods: Life Insurance Corporation of India (LIC) has raised its shareholding in Patanjali Foods from 4.986 percent to 5.02 percent. LIC acquired an additional 1,25,000 equity shares through open market purchases at an average price of ₹1,764.96 per share.
GE Vernova: GE Vernova announced that its promoter, Grid Equipments Private Ltd, will exercise the green shoe option in its offer for sale (OFS), expanding the total offer size to 21,451,168 equity shares, representing 8.38 percent of the company’s equity capital. The floor price for the OFS is ₹1,550 per share.
