Stocks to Watch: Vedanta, NHPC, UltraTech Cement, AGI Greenpac, HCC, and more

Here’s a quick look at stocks likely to be in focus in today’s trade.

Vedanta: Vedanta Ltd has revised its demerger plan, opting to retain its base metals division under the parent company. The decision came after consultations with stakeholders, including lenders, and approval by the board of directors. Initially, Vedanta had proposed splitting its business into six independent entities, one of which was the base metals segment. However, retaining this division within Vedanta was deemed more conducive to value creation and debt management. The base metals business includes copper operations in Thoothukudi, Tamil Nadu, which the company is working to revive.

NHPC: NHPC Ltd has signed a Memorandum of Understanding (MoU) with the Bihar government to invest ₹5,500 crore in solar energy and green hydrogen projects. At the Bihar Business Connect 2024 summit, NHPC announced plans to develop 1,000 MW solar power and green hydrogen mobility pilot projects. NHPC Chairman and Managing Director Raj Kumar Chaudhary emphasized that support from the state, especially in land acquisition, will be crucial for timely implementation.

Reliance Industries: Reliance Industries, through its wholly owned subsidiary Reliance Digital Health, will acquire a 45 percent stake in US-based Health Alliance Group for $10 million. This move strengthens its focus on healthcare innovation globally. Additionally, Reliance Industries acquired 57.12 crore equity shares of NMIIA at ₹28.50 per share. The remaining 26 percent stake in NMIIA is held by CIDCO.

UltraTech Cement: The Competition Commission of India (CCI) has approved UltraTech Cement’s acquisition of India Cements Ltd (ICL). UltraTech Cement, an Aditya Birla Group flagship company, had earlier announced plans to acquire a 32.72 percent stake in ICL for ₹3,954 crore. This acquisition aims to enhance UltraTech’s presence in the southern cement market, especially in Tamil Nadu. The company has also launched a ₹3,142.35 crore open offer to acquire an additional 26 percent stake in ICL from its shareholders.

Aurobindo Pharma: CuraTeQ Biologics, a subsidiary of Aurobindo Pharma, has received approval from the UK Medicines and Healthcare products Regulatory Agency (MHRA) for Bevqolva, a biosimilar for bevacizumab. This product is used in treating cancers such as metastatic colorectal cancer and advanced renal cell carcinoma.

Piramal Enterprises: Piramal Enterprises Ltd has approved the public issuance of secured Non-Convertible Debentures (NCDs) worth up to ₹2,000 crore. The decision was made during the company’s Administrative Committee meeting on December 20, 2024. The issuance will be conducted in one or more tranches, with a face value of ₹1,000 per NCD.

AGI Greenpac: AGI Greenpac Ltd plans to raise up to ₹1,500 crore through the issuance of equity shares and equity-linked securities. The company’s board approved the proposal on December 20, 2024. The fundraising, expected to involve Qualified Institutional Placement (QIP), aims to attract institutional investors. The pricing and structure will adhere to regulatory guidelines, with funds expected to support the company’s growth initiatives.

TeamLease Services: TeamLease Services Ltd has signed a definitive agreement to acquire TSR Darashaw HR Services Pvt Ltd. Additionally, TeamLease’s board approved a proposal to acquire a stake in Crystal HR and Security Solutions. The acquisitions are subject to regulatory approvals and customary closing conditions. Darashaw Keki Mehta, Director of TSR Darashaw HR Services, expressed optimism about leveraging TeamLease’s expertise to enhance client value.

Hindustan Construction Company: Hindustan Construction Company (HCC) has divested its stake in Steiner AG to Uniresolv, an affiliate of Geneva-based m3 Immobilier Holding SA. The move enables HCC to focus on its core operations in India. Steiner Development AG, previously a subsidiary of Steiner AG, will now function directly under m3 Immobilier, with plans for a Swiss IPO. HCC stands to gain up to ₹205 crore in liquidity from Steiner AG’s future success.