Top 10 Stocks to watch Today Religare Enterprises: The compan | ACEink Official
Top 10 Stocks to watch Today
Religare Enterprises: The company's shareholders have rejected its plans to invest in its subsidiary, MIC Insurance Web Aggregator, and to amend the Articles of Association. Religare Enterprises had initiated an e-voting process for these special resolutions. However, the scrutiniser's report revealed that the votes in favor did not meet the necessary threshold for approval, leading to the defeat of the resolutions.
Mahindra Lifespace Developers: The company has announced plans to invest approximately ₹6,000 crore in its residential business over the next four years. This investment is part of a strategy to boost its business growth, aiming to quintuple its residential business from ₹2,268 crore to ₹8,000 crore by the fiscal year 2028. During this period, the company plans to launch projects with a total gross development value (GDV) of ₹45,000 crore.
Eicher Motors: The maker of Royal Enfield motorcycles has established a subsidiary in the Netherlands. This move comes in response to the challenges posed by Brexit in transporting parts to mainland Europe. The company is currently in discussions to set up a warehouse, possibly in Germany or France, to expedite the delivery of non-motorcycle items such as spare parts and branded merchandise.
Mankind Pharma: Beige Ltd, an affiliate of private equity firm ChrysCapital, is expected to divest up to 2.90% of its holdings in Mankind Pharma Ltd via block transactions. The shares are likely to be offered at a price range of ₹2,103- ₹2,214, as per insiders. The transaction is pegged at ₹2,460 crore, based on information from several individuals who are aware of the matter.
Adani Ports and Special Economic Zone: The company announced on Tuesday its plans to acquire a 95% stake in Gopalpur Port in Odisha in a deal with an equity value of ₹13.49 billion ($161.74 million). The acquisition will involve Adani Ports buying a 56% stake from the real estate giant Shapoorji Pallonji Group, and a 39% stake from Orissa Stevedores.
IIFL Finance, JM Financial Products: The Reserve Bank of India (RBI) has initiated the process of appointing auditors for a special audit of IIFL Finance and JM Financial Products due to regulatory violations. The central bank has released two separate tenders for the appointment of auditors to conduct special audits of these two non-banking finance companies (NBFCs).
Tech Mahindra: The IT services and consulting firm has announced plans to consolidate its wholly-owned subsidiary, Born Group, with its parent company, Tech Mahindra (Americas) Inc. This merger was approved by both entities on Friday, March 22, 2024. The Pune-based company disclosed in a regulatory filing that the merger plan for Born Group, Inc., a wholly-owned subsidiary, with its parent company,
Vedanta: The mining conglomerate has announced plans to invest $6 billion ( ₹50,000 crore) across various sectors, including aluminium, zinc, iron ore, steel, and oil and gas. The company's goal is to increase its annual EBITDA by at least $2.5 billion ( ₹20,750 crore), as stated by executives during an investors meeting.
Hinduja Global Solutions: The business process management company announced on March 22 that it has agreed to sell its optical fibre assets to its subsidiary, Indusind Media and Communications Ltd (IMCL), for a sum of ₹208.04 crore. The company stated in a stock exchange filing that it has entered into an agreement for this transaction.
Lupin: On March 22, Lupin announced its plans to segregate its trade generics business in India and shift it to Lupin Life Sciences Ltd (LLSL), a fully owned subsidiary of the company. The estimated cost of this transfer is between ₹100-120 crore. The Board of Directors of Lupin Limited approved this plan in a meeting held on March 22, 2024.
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