The Competition Commission of India (CCI) has approved JM Financial’s proposed acquisition of a 43% stake in JM Financial Credit Solutions Ltd (JMFCSL) and a 71.79% stake in JM Financial Asset Reconstruction Company Ltd (JMFARC). These acquisitions will enhance JM Financial’s presence in wholesale lending and asset reconstruction.
Other Stocks in Focus:
- IRB Infrastructure Developers: The company posted a 19% year-on-year rise in toll revenue to ₹502 crore in September, highlighting its growing toll collection business.
- Tata Technologies: Tata Technologies and BMW launched their joint venture, BMW TechWorks India, which will focus on automotive software and digital transformation.
- Torrent Power: Torrent Power secured a contract to supply 2,000 MW energy storage capacity in Maharashtra, including an additional 500 MW on top of a previous award.
- Timken India: Timken India received a ₹100 crore tax demand from the Income Tax Department for adjustments related to arm’s-length pricing for the 2021-22 assessment year.
- Schneider Electric: Schneider Electric’s appeal against a ₹2.21 crore tax demand was rejected by the Joint Commissioner of Commercial Taxes, Bengaluru.
- Infosys: Infosys partnered with Old National Bank to leverage its services for process digitisation and automation, including generative AI (GenAI) solutions.
- Aurigene Oncology: Aurigene, a subsidiary of Dr Reddy’s Laboratories, announced Phase 1 results for CAR-T cell therapy, with Phase 2 trials approved by the Drugs Controller General of India.
- Indian Railway Finance Corporation (IRFC): IRFC’s board approved ₹700 crore financing for 20 BOBR rakes under the Ministry of Railways’ General-Purpose Wagon Investment Scheme (GPWIS).
- Premier Energies International: Premier Energies signed a Module Supply Agreement for 173.35 MWp solar modules to be used in the FDRE Power Project in Rajasthan.
- Namo eWaste Management: Namo eWaste acquired 2 acres of land in Telangana to establish an e-waste recycling plant, investing ₹3 crore in the project.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. Stock market investments are subject to market risks. Readers are advised to seek independent financial advice before making any investment decisions. The author and the publication are not responsible for any losses incurred based on the information provided.
