The national stock market closed higher in the previous session, with the Sensex gaining 173 points to reach 66,118 and the Nifty rising by 52 points to reach 19,716 on Wednesday. As investors keep an eye on the market, here are some stocks that are likely to continue making news today.
Vedanta shares are in the spotlight today following a Bloomberg report that stated unit Anil Agrawal was close to a deal to spin off businesses into several listed entities. This extensive restructuring, if successful, could help Agarwal manage his group’s debt load. According to the report, this move could have significant implications for Vedanta and its future prospects. (source)
The online sports platform has received a Show Cause Notice (SCN) dated September 21, 2023, from the Director General of GST Intelligence in Mumbai. The notice claims a tax demand of Rs 2.83 crore against Nazará Technologies. This development raises concerns about the company’s financial situation and potential impact on its operations going forward.
Oberoi Real Estate:
Oberoi Real Estate, a Mumbai-based company, has recently signed an agreement for the redevelopment of a prime land parcel spanning approximately 13,450 square meters in Tardeo, Mumbai city. This move indicates the company’s strategic focus on expanding its real estate portfolio and capitalizing on opportunities in key markets.
Shares of Yatra Online will be listed on both BSE and NSE today. The issue price for its initial public offering (IPO) has been fixed at Rs 142 per share. The allotment of shares during the IPO took place on September 25th. Investors will be closely monitoring Yatra Online’s performance as it enters the stock market.
Aurobindo Pharmacy subsidiary Auro Vaccines has signed a licensing agreement with Hilleman Laboratories Singapore Pte Limited. The agreement allows Auro Vaccines to manufacture and market a pentavalent vaccine candidate used in childhood vaccination. This collaboration is expected to contribute to the growth and expansion of Aurobindo Pharmacy’s product portfolio.
Padget Electronics, an arm of Dixon Technologies, has signed an agreement with Xiaomi Technology India for manufacturing smartphones and other related products for Xiaomi. This partnership showcases Dixon Technologies’ capabilities in manufacturing electronic devices and its ability to secure partnerships with leading brands.
Tata Power Company:
Tata Group subsidiary Tata Power Renewable Energy (TPREL) will open a 41 MW captive solar plant at Thoothukudi in Tamil Nadu. This solar plant will support TP Solar’s new 4.3 GW solar cell and module manufacturing facility at Tirunelveli in Tamil Nadu. Tata Power’s commitment to renewable energy underscores its focus on sustainable development.
Reliance Jio, the telecom arm of Reliance Industries, gained 39.07 lakh wireless subscribers in July 2023, up from an addition of 22.7 lakh subscribers in the previous month. With a significant market share of wireless subscribers, Reliance Jio continues to dominate the telecom sector.
Bharti Airtel added 15.17 lakh subscribers in July 2023, reflecting steady growth compared to the previous month when it added 14.1 lakh subscribers. Bharti Airtel remains a strong player in the telecom segment with a substantial market share.
The state-owned construction company NBCC India announced the sale of a commercial space built at the World Trade Center in New Delhi through electronic auction. The auction is scheduled for October 23 this year and offers an area of approximately 14.75 lakh square feet valued at Rs 5,716.43 crore.
As investors assess their options in the stock market, keeping an eye on these stocks can provide valuable insights into the current trends and developments. It is important to conduct thorough research and analysis before making any investment decisions. (source)
At last, the national stock market closed higher in the previous session, and several stocks are expected to make news today. Vedanta’s potential spin-off deal, Nazará Technologies’ tax demand notice, and Oberoi Real Estate’s redevelopment agreement are some of the key developments investors should watch out for. Yatra Online’s listing, Aurobindo Pharmacy’s licensing agreement, Dixon Technologies’ manufacturing partnership with Xiaomi, Tata Power Company’s solar plant opening, Trusted Industries’ subscriber growth, Bharti Airtel’s subscriber additions, NBCC India’s commercial space sale are also significant events shaping the market landscape. It is crucial for investors to stay informed and make well-informed decisions based on reliable information from credible sources.