Here are the top 10 stocks that will be the focus of today’s scrutiny.
NDTV: On Tuesday, the Adani group announced a hostile takeover approach for NDTV with an open offer to buy an additional 26% of the company’s stock, or Rs 1.67 crore shares, for up to Rs 493 crore. Vishvapradhan Commercial Pvt Ltd (VCPL), AMG Media Networks, and Adani Enterprises Ltd. are the three Adani group companies that have released a public notification for the offer in accordance with Sebi regulations. The open offer will cost Rs 294 per share, or Rs 492.81 crores.
Adani Enterprises: By acquiring a 29% interest in broadcaster NDTV Ltd. and launching an open offer to purchase an additional 26% from shareholders, as required by law, Asia’s richest man and businessman Gautam Adani made a significant bid for the media and entertainment market in India. The purchase put an end to months of rumours about a potential acquisition, which caused the price of NDTV shares to increase fivefold in nine months (from Rs 75.55 on December 1 to Rs 376.55 on Tuesday on BSE).
NTPC: On Thursday, the state-owned power company NTPC will issue non-convertible debentures in a private placement to raise Rs 2,000 crore. According to a regulatory filing, the funds will be used, among other things, to pay capital expenditures, refinance existing debts, and further general company purposes. The company has made the decision to privately put 2,000 crore worth of unsecured non-convertible debentures on August 25, 2022, with a coupon rate of 7.44% per annum and a 10-year door-to-door maturity.
P&G Hygiene and Health: Due to rising commodity prices, FMCG product manufacturer Procter & Gamble Hygiene and Health Care Ltd on Tuesday reported a 13.12% fall in Profit After Tax (PAT) at 42.55 crore for the fourth quarter that ended on June 30. The company, which uses a fiscal year of July to June, posted PAT of 48.98 crore in the equivalent quarter of the prior year. In the quarter under review, its product sales revenue decreased by 3.8% to Rs 755.65 crore from Rs 785.58 crore in the prior quarter.
Hindalco: The business has set aside a total capital investment of around USD 8 billion over the next five years for its subsidiary Novelis and India, according to Hindalco Industries Chairman Kumar Mangalam Birla on Tuesday. Novelis has identified 4.5 billion USD worth of possible investment opportunities. Birla was addressing at Hindalco’s AGM. He said that the business has discovered approximately $3 billion in possible investment prospects in India.
HPCL: The government-run Hindustan Petroleum has unveiled a cow dung to compressed biogas project at Sanchore in Rajasthan as part of its efforts to expand the mix of green energy. This is the oil major’s first waste-to-energy initiative, and the facility is planned to employ 100 tonnes of cow dung per day to generate biogas that can be used as fuel for vehicles.
Devyani International: On Tuesday, Temasek Holdings subsidiary Dunearn Investments (Mauritius) Pte Ltd sold more than 2% of its ownership in restaurant chain Devyani International for 482 crore in an open market transaction. An omnichannel eatery, Devyani International is Yum Brands’ biggest franchisee in India. Dunearn Investments (Mauritius) Pte Ltd sold 2,63,29,516 shares, or 2.18% of the firm, according to bulk trade data made available by BSE.
Unichem Laboratories: On Tuesday, Unichem Laboratories Ltd. said that the US health regulator has given the company the go-ahead to launch its generic carbamazepine pills, which are classified as an anticonvulsant medication. According to a regulatory filing by Unichem, the US Food and Drug Administration (USFDA) has approved the abbreviated new drug application (ANDA) for 200 mg Carbamazepine Tablets. It is a substitute for Novartis Pharmaceuticals Corp.’s Tegretol (Carbamazepine) tablet, 200 mg.
Tata Motors: At its factory in this location where commercial vehicles are made, Tata Motors has inked a Power Purchase Agreement (PPA) with Tata Power to develop a 7.25 Mwp on-site solar project. According to a statement released by the firm on Tuesday, the initiative will be a key step toward expanding the renewable energy portfolio at its manufacturing plant. With the completion of this project, Tata Motors’ Jamshedpur facility will have an on-site solar plant with a 14 MWp capacity.
Kalpataru Power Transmission: The 210 MW Luhri Hydro Electric Project Stage-1 would use a 220 KV direct current single zebra transmission line that will be built by Kalpataru Power Transmission Ltd, according to state-owned SJVN Ltd on Tuesday. According to a statement from SJVN Chairman and Managing Director Nand Lal Sharma, the company and Kalpataru have reached an agreement for the building of a 220 KV D/C (direct current) single track transmission line for the 210 MW Luhri Hydro Electric Project Stage-1.
