Key Stocks in Focus Today: Reliance’s Big Plans, Tata Steel’s New Investment, SpiceJet Under Watch, and More
Here are some key stocks to watch in today’s trading:
- Reliance Industries: At its 47th annual general meeting (AGM) on August 29, Reliance Industries shared ambitious growth plans, focusing on new technologies like AI. Chairman Mukesh Ambani stated that Reliance aims to more than double in size before the end of this decade and continue strong growth in the future.
- Tata Steel: Tata Steel announced on August 29 that it acquired 13,000 equity shares, which is a 26% stake, in TP Parivart Ltd., a subsidiary of Tata Power Renewable Energy, for ₹1.3 lakh.
- LIC (Life Insurance Corporation of India): LIC received a demand notice for GST, interest, and a penalty of nearly ₹606 crore for the financial year 2020 in Maharashtra. This was due to incorrect input tax credit (ITC) claims and delayed payments.
- Shipping Corporation of India: The company disclosed that it received a GST demand and penalty of ₹160.37 crore for FY20. It is planning to appeal this order and expects a favorable outcome.
- NTPC: NTPC REL, a subsidiary of NTPC, began commercial operations for the first 160 MW of its 320 MW Bhainsara solar PV project in Jaisalmer, Rajasthan, on August 28.
- SpiceJet: The Directorate General of Civil Aviation (DGCA) has placed SpiceJet under increased scrutiny after a special audit revealed certain deficiencies.
- Share Buyback Announcement: A company announced a share buyback of up to 29,44,415 shares (1.65% of total equity) for ₹117.78 crore at ₹400 per share, with a record date set for September 10.
- Lemon Tree Hotels: Lemon Tree Hotels signed a license agreement for a new hotel in Ayodhya, Uttar Pradesh, which will be managed by its subsidiary, Carnation Hotels Private Limited. The property is expected to open in FY26.
- MoU with Patel Engineering: A company signed a memorandum of understanding (MoU) with Patel Engineering to collaborate on hydro and other infrastructure projects, both in India and overseas.
These updates could impact stock prices, so keep an eye on these companies in today’s trading session.
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