Stocks To Watch: Infosys, EaseMyTrip, NBCC, PC Jewellers, Delta Corp, Tata Power, And Others
Stocks To Watch On September 25: Equity Markets traded in a subdued manner, closing nearly unchanged on Tuesday after a recent rally. In today’s trade, shares of EaseMyTrip, Exxaro Tiles, NBCC, PC Jewellers, Delta Corp, Tata Power among others will be in focus due to various news developments.
Infosys: The finance ministry may amend Circular 210 to provide relief to Infosys regarding a Rs 30,000 crore GST demand. The Central Board of Indirect Taxes and Customs (CBIC) is reviewing pre-show cause notices and considering applying Rule 28 of the CGST Rules to potentially nullify or reduce the tax liability on the company, which will have wider implications for other IT companies facing the same issue.
Adani Green Energy, Adani Energy Solutions: Adani Group companies Adani Green Energy and Adani Energy Solutions have become the first Indian firms to join the Utilities for Net Zero Alliance (UNEZA), which promotes renewable energy infrastructure. These companies aim to achieve net zero emissions by 2050.
Cartrade Tech: Warburg Pincus-owned Highdell Investment has divested its 8.64 per cent stake in Cartrade Tech for over Rs 375 crore. Mirae Asset Mutual Fund has acquired a 6.4 per cent stake in the company.
SBI: SBI Chairman C S Setty reported a robust Rs 4 trillion credit pipeline from India Inc, anticipating a rise in private capital expenditure, particularly in infrastructure. He also noted no immediate plans for divesting stakes in subsidiaries.
Vadilal Enterprises: The NCLAT has ordered that the board structure of Vadilal Enterprises and Vadilal International remain unchanged pending a final hearing on a family dispute. This follows a previous NCLT ruling related to the control of the family business.
NBCC: The Supreme Court is set to consider National Buildings Construction Corporation’s (NBCC) proposal to complete 17 stalled projects of Supertech Limited, which could benefit approximately 27,000 homebuyers. This initiative follows a similar intervention with the Amrapali Group.
TVS Holdings: The Competition Commission of India (CCI) has approved the acquisition of stakes in Home Credit by TVS Holdings, STPL Trading, and Premji Invest Group. This acquisition could strengthen TVS Holdings’ presence in the financial services sector.
National Mineral Development Corporation: NMDC reported a 7 per cent year-on-year increase in iron ore production, reaching 275 million tonnes for FY24.
Punjab National Bank: As the search for a new MD and CEO begins for PNB, at least 13 candidates are in the fray for the bank’s top post. “Among the candidates, some are executive directors (EDs) and managing directors in major PSBs. Financial Services Institutions Bureau (FSIB) will conduct the interviews next month,” said a source to Business Standard.
Tata Power: Following a fire incident at its Trombay plant, Tata Power confirmed that the plant is adequately insured. The investigation into the cause of the fire is ongoing, which may impact the company’s operations in the short term.
EaseMyTrip: Promoter Nishant Pitti is likely to sell up to 8.5% stake in Easy Trip Planners through block deals, according to reports.
PC Jewellers: The Board of PC Jeweller will meet on September 30 to consider and approve stock split. In the same meeting, the Board will also consider the appointment of new directors.
Delta Corp: Delta Corp Board approved a draft composite scheme of arrangement between the company and Delta Penland, under which the hospitality and real estate businesses will be demerged.
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