Stocks to Watch: Adani Enterprises, Indigo, HDFC Bank, RIL, Sun Pharma, Zee

  1. Interglobe Aviation (IndiGo): Co-founder Rakesh Gangwal is considering selling up to 5.8% stake in Interglobe Aviation, aiming to generate ₹6,600 crore, higher than the initial plan of 3.3%. Shares are priced at a minimum of ₹2,925 each.
  2. HDFC Bank: Initiates the process for the IPO of its subsidiary, HDB Financial Services, scheduling it for Q4 2024 or Q1 2025. The IPO is estimated to value HDB Financial between $9 billion and $12 billion.
  3. Reliance Industries: Viacom18, owned by Reliance, restructures its entertainment businesses ahead of an $8.5-billion merger with Disney’s India unit, appointing key executives for digital, sports, and content businesses.
  4. SJVN Green Energy: Signs a long-term agreement to supply 600 MW of solar power to Rajasthan, involving 500 MW from the Bikaner Solar Power Project and 100 MW from the Rajasthan Solar Power Project.
  5. Zee Entertainment Enterprises: Announces significant changes in the revenue section, leading to the resignation of President, Business, Rahul Johri. Additional departures at the senior level are anticipated.
  6. Sun Pharmaceuticals: Recalls around 55,000 bottles of generic gout medication in the US due to manufacturing practice deviations, withdrawing Febuxostat Tablets in 40 mg and 80 mg strengths.
  7. Rail Vikas Nigam Limited: Commissioned by Madhya Pradesh Metro Rail Corporation to design and build an elevated viaduct, five elevated metro stations, and a ramp, with a project completion time of approximately three years.
  8. Nazara Technologies: Plans to acquire Smaaash Entertainment Pvt. Ltd through the insolvency and bankruptcy process, submitting a resolution plan to revive the bankrupt firm.
  9. Gensol Engineering: Secures the leading position for a standalone Battery Energy Storage Systems (BESS) project with a capacity of 70 MW / 140 MWh out of a total of 250 MW / 500 MWh, providing on-demand energy storage to Gujarat Urja Vikas Nigam Ltd.

These developments are shaping the stock market landscape, impacting various sectors and companies.

We will be happy to hear your thoughts

      Leave a reply

      Share Price India News