Shares to Watch: Hindalco, TaMo, SBI, GPT Infra, IIFL Finance

Hindalco Industries: Novelis Inc., a Hindalco subsidiary, has delayed its IPO due to market conditions. They planned to raise $810 million to $945 million but will now reconsider the timing. AV Minerals (Netherlands) NV and another shareholder were set to sell 45 million Novelis shares in the IPO.

Tata Motors: Tata Motors Finance, a subsidiary, will merge with Tata Capital, pending approvals. Additionally, Tata Motors will create a new subsidiary, TML Commercial Vehicles, for its commercial vehicle business.


State Bank of India (SBI): SBI’s board will meet on June 11 to discuss raising up to $3 billion in long-term funds through public or private placements of senior unsecured notes in FY 2024-25.

Jindal Stainless: The company has fully acquired Evergreat International Investment Pte Ltd, Singapore, making it a wholly-owned subsidiary.

NLC India: The company plans to raise up to $600 million in foreign currency loans on June 10, subject to RBI guidelines. They will also seek support from MDBs for upcoming renewable power projects.

GPT Infraprojects: The company has secured a ₹547 crore order from Rail Vikas Nigam.

Wipro: The IT firm has partnered with Zscaler to launch Wipro Cyber X-Ray, an AI-assisted decision support platform.

Zee Entertainment Enterprises: Animesh Kumar resigned as President – HR & Transformation, with Dheeraj Jaggi stepping in as Acting Chief Human Resources Officer.

Container Corporation of India: The company and Shipping Corporation of India signed an MOU to provide a comprehensive logistics solution.

LTIMindtree: The company has expanded its partnership with SAP to deliver innovations for complex manufacturing industries.

Texmaco Rail & Engineering: The company has entered into agreements with Saira Asia Interiors to acquire a 51% shareholding for ₹9 crore.

Nuvama Wealth Management: The company has set up a wholly-owned subsidiary, Nuvama Wealth Management (DIFC), in Dubai.

IIFL Finance: The special audit directed by the RBI has concluded.

Deep Industries: The company received a Letter of Award from ONGC, Kakinada, for gas processing for 10 months, valued at ₹56 crore.

Roto Pumps: The company has started commercial production of downhole pumps at a new manufacturing facility in Greater Noida.

Uflex: The company has entered into agreements to acquire 5.03% equity shares in Onevolt Energy for ₹9.6 crore.

RMC Switchgears: The company secured a ₹56.68 crore work order for the supply of SMC meter enclosures for smart meters.

Shilpa Medicare: Shilpa Biologicals, a wholly-owned subsidiary, has filed its first Drug Master File of recombinant Human Albumin 20% with the USFDA.

S H Kelkar: The company has incorporated a step-down subsidiary, Keva Germany GmbH.

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