Top 10 Stocks to watch Today UltraTech Cement: The company ha | ACEink Official
Top 10 Stocks to watch Today
UltraTech Cement: The company has announced its plan to allocate ₹32,400 crore for capital expenditure over the coming three years, aiming to expand its operations. The firm intends to augment its capacity to approximately 200 million tonnes per annum (MTPA) in the near term. In addition, the company has reported the initiation of two new greenfield projects with an aggregate capacity of 5.4 MTPA.
Zee Entertainment Enterprises: Punit Goenka, CEO and managing director of Zee Entertainment Enterprises Ltd, has announced a voluntary 20% reduction in his salary. Goenka said, "As we strive towards our future goals, the organization is firmly committed to embracing a cost-effective approach. I am currently executing the necessary measures across all company divisions, and I believe the desired shift in mindset should start with me.
Mahindra and Mahindra Financial Services: The company announced a strong performance for the fiscal year ending March 31, 2024, with increases in disbursements and business assets. In March 2024, the company's total disbursements were estimated at around ₹6,100 crore, reflecting a 9% growth from the previous year. The fourth quarter of FY24 saw disbursements of about ₹15,300 crore, an 11% increase year-on-year.
JSW Energy: JSW Energy announced on Tuesday its intention to raise ₹5,000 crore through a Qualified Institutional Placement process. The shares will be sold to high net worth investors and the QIP will be conducted in one or more tranches. The company has not revealed the purpose of this fundraising.
Hindustan Zinc: For the quarter ending in March FY24, Hindustan Zinc reported a 1% year-on-year (YoY) decrease in mined metal production, dropping to 299 kt. However, there was an 11% increase sequentially, attributed to a combination of enhanced mined metal grades and increased ore production across various mines.
Zomato: The company has disclosed that it has been served with a service tax demand and penalty order exceeding ₹184 crore for the period from October 2014 to June 2017. The company said that it plans to contest the order before a suitable authority. The demand order pertains to the non-payment of service tax on specific sales conducted by the company's foreign subsidiaries and branches to its customers situated outside India, as revealed in a late-night regulatory filing by Zomato.
Shriram Properties: On Tuesday, April 2, Shriram Properties said that its subsidiary, Shriram Properties and Infrastructure Pvt. Ltd, has been issued a penalty order of ₹446.79 crore by the office of the Deputy Commissioner of Income Tax, Central Circle 1 (4) Chennai. This penalty is connected to income tax proceedings for FY18 under Section 153C, which pertains to the sale of shares in the subsidiary, as per a filing with the stock exchange.
Axis Bank: The Competition Commission of India announced on Tuesday that it has given the green light for Axis Bank's planned stake acquisition in Max Life Insurance Company Ltd. This approval comes after the company's announcement in August last year about a capital boost from Axis Bank.
Biocon: Biocon Biologics, a subsidiary of Biocon, has finalized the transfer of its branded formulations business in India to Eris Lifesciences. The transaction, conducted on a slump sale basis, is valued at ₹1,242 crore. The business includes metabolics, oncology, and critical care diagnostics.
Anupam Rasayan India: The company has signed a letter of intent with a multinational corporation from Japan. The deal, valued at $90 million ( ₹743 crore), spans over seven years and involves the supply of two advanced intermediates using fluorination chemistry.
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