Keep an Eye on These Stocks Today: Infosys, EaseMyTrip, NBCC, PC Jewellers, Tata Power and others

Keep an Eye on These Stocks Today: Following a recent surge, equity markets saw muted trading and closed essentially flat on Tuesday. Due to a number of news events, shares of NBCC, PC Jewellers, Tata Power, EaseMyTrip, and Exxaro Tiles will be among those that are the focus of today’s activity.

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Infosys: In response to a GST demand of Rs 30,000 crore, the finance ministry may modify Circular 210 to allow Infosys some relief. In order to possibly cancel or lower the company’s tax burden, the Central Board of Indirect Taxes and Customs (CBIC) is examining pre-show cause letters and using Rule 28 of the CGST Rules. This action might have broader ramifications for other IT businesses dealing with the same problem.

Adani Green Energy and Adani Energy Solutions: The Adani Group companies, Adani Green Energy and Adani Energy Solutions, have joined the Utilities for Net Zero Alliance (UNEZA), an organization that supports infrastructure for renewable energy, as the first Indian businesses to do so. By 2050, these businesses want to have net zero emissions.

Cartrade Tech: For more than Rs 375 crore, Warburg Pincus-owned Highdell Investment sold its 8.64 per cent interest in Cartrade Tech. Mirae Asset Mutual Fund has purchased a 6.4% interest in the business.

SBI: SBI Chairman C S Setty said that the bank has a strong Rs 4 trillion loan pipeline from India Inc. and that the bank expects private capital expenditures to increase, especially in the infrastructure sector. He said that there are currently no intentions to sell off subsidiary stakes.

Vadilal Enterprises: In order to allow for a final hearing on a family dispute, the NCLAT has ruled that the boards of Vadilal Enterprises and Vadilal International remain unaltered. This comes after an earlier NCLT decision on family company control.

NBCC: National Buildings Construction Corporation (NBCC) is slated to present a case before the Supreme Court to finish 17 Supertech Limited projects that have been put on hold. This case might have a positive impact on almost 27,000 homeowners. This program comes after an analogous Amrapali Group intervention.

TVS Holdings: TVS Holdings, STPL Trading, and Premji Invest Group have been given permission by the Competition Commission of India (CCI) to purchase shares in Home Credit. The potential purchase might enhance TVS Holdings’ position within the financial services industry.

National Mineral Development Corporation: NMDC said that iron ore output increased by 7% annually to 275 million tonnes in FY24.

Punjab National Bank: At least 13 applicants are vying for the position of chief executive officer at PNB as the hunt for a new MD and CEO gets underway. Some of the applicants work as managing directors and executive directors (EDs) for significant PSBs. The interviews would be conducted by the Financial Services Institutions Bureau (FSIB) next month, a source told Business Standard.

Tata Power: In the wake of a fire at its Trombay facility, the company affirmed that it carries sufficient insurance. The company’s short-term operations may be impacted by the continuing inquiry into the cause of the incident.

EaseMyTrip: According to rumors, promoter Nishant Pitti plans to use block transactions to sell up to an 8.5% share in Easy Trip Planners.

PC Jewellers: To discuss and approve the stock split, the PC Jeweller Board will convene on September 30. The Board will discuss the appointment of new directors at the same meeting.

Delta Corp: The proposed composite plan of arrangement between Delta Corp. and Delta Penland, which calls for the merger of the company’s real estate and hospitality divisions, was accepted by the board of Delta Corp.