Stocks to watch: Keep an eye on Reliance, Tata Steel, LIC, NTPC, SpiceJet these stocks
Below is a snapshot of the corporation whose stock is likely to be of interest to the trader today.
Reliance Industries
Reliance Industries held its 47th AGM on August 29. The company provided details at its AGM about its plans regarding the expansion and the use of advanced technologies such as artificial intelligence. Mukesh Ambani A chair claims the Reliance Group will be more than $100 billion by the end of this decade and the group will grow more rapidly in the following decades.
Tata Steel
Taking into consideration the risk factors, Oh in its official press release, Tata Steel stated that it has paid ₹1.3 lakh to acquire 13000 equity shares or 26% equity ownership in TP Parivart Ltd a Tata Power Renewable Energy subsidiary.
LIC
LIC further disclosed that almost ₹ 606 crores has been raised against it by way of penalty, interest, and GST with regard to re-instatement of demand notice received in relation to Maharashtra for FY20 specifically in respect of ‘wrong availment and short reversal of ITC and interest on late payments’ legal provisions.
Shipping Corporation of India
The GST demand and penalty imposed on the business has quite often been reported at a figure of ₹160.37 crore pertaining to FY20 as the filing with the exchange reveals. The said business indicated that it is in the process of appealing to the Joint Commissioner of State Tax and looking forward to a favorable outcome
NTPC
The business said that on August 28, NTPC REL, a subsidiary of NTPC, began commercial operation of the first 160 MW capacity of the 320 MW Bhainsara solar PV plant in Jaisalmer, Rajasthan.
ITI
The State Election Commission (SEC) at West Bengal has awarded the business its first Enesco contract for the supply of 500 sets of electronic voting machines (EVMs) as announced in an exchange filing on August 29.
SpiceJet
With the completion of an unusual audit installed by the aviation regulator and that revealed some shortcomings at the airline, the Directorate General of Civil Aviation (DGCA) on more July 11, 2014, placed SpiceJet airline under increased surveillance effective immediately.
Jai Corporation
The board of directors of the company sanctioned the buyback of shares worth up to ₹117.78 crore or 1.65% of the paid-up capital, in such quantities that the total number of share repurchases shall not exceed 29,44,415. Ten Indian rupees have been announced as a buyback price per share of the company. The date of September 10 has been set as the cutoff date for this buyout.
Lemon Tree Hotels
The business said in its exchange filing that it had a licensing arrangement with Lemon Tree Hotels inn at the point in time and location such as Garbage City, Ayodhya in the state of Uttar Pradesh. The hotel property is expected to open office for business in FY26 and will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited.
Rail Vikas Nigam
Consequently, the firm and Patel Engineering Limited also signed a Memorandum of Understanding (MoU) in order to “cooperate and create an enabling framework for achieving synergies in hydro and other infrastructure projects and other opportunities in India and abroad.”
