Green
Defense Companies: The Defense Acquisition Council (DAC) has approved proposals worth ₹1.45 lakh crore, signaling a significant boost for defense companies. This approval is expected to lead to increased activity and potential contracts for firms in this sector.
AU Small Finance Bank (SFB): AU SFB has submitted an application to the Reserve Bank of India (RBI) to transition from a Small Finance Bank to a Universal Bank. If approved, this move could position AU SFB for broader operations and growth opportunities.
Indian Energy Exchange (IEX): The total trading volume on IEX for August increased by 35.8%, with the Day-Ahead Market volume up 22.5% year-on-year. These figures indicate a strong performance and growing demand in the energy trading market.
Havells: Havells India Ltd. has announced plans to expand its cable manufacturing capacity at its Tumakuru unit with an investment of ₹450 crore. This expansion is part of the company’s strategy to meet rising demand and strengthen its market position.
Mankind Pharma: Mankind Pharma has decided to transfer its Over-the-Counter (OTC) business to its subsidiary, Mankind Consumer, on a slump sale basis. This move is likely aimed at streamlining operations and focusing on core pharmaceutical activities.
NHPC: NHPC has signed a Memorandum of Understanding (MoU) with the Water Resources Department (WRD) of the Maharashtra government to set up energy storage systems. This initiative is in line with the push for renewable energy and efficient power management.
Red
GIC Re: The Government of India has announced plans to sell up to a 6.8% stake in General Insurance Corporation of India (GIC Re) via an Offer for Sale (OFS). The floor price has been set at ₹395 per share, which could impact the stock’s performance depending on market reception.
