Stocks To Watch Today: NTPC, IREDA, SpiceJet, Nazara Tech and Other

Stocks to Watch Today: In anticipation of the US Fed gathering, local markets remained turbulent for one more day before ending flat with global trends. Attention will be paid to the shares of NTPC, IREDA, SpiceJet, Nazara Tech, and Power Grid, which have been subject to various news flows today.

IREDA: The Indian Renewable Energy Development Agency (IREDA) has been granted authorisation by the Union government to make the funds by way of issue of fresh capital through a Qualified Institutions Placement.

ICICI Securities, ICIC Bank: The NCLT approved the delisting of ICICI Securities, but minority shareholders are uneasy about the decision and it is one of the matters challenged by Quantum Mutual Fund.

IT stocks: In the run-up to the announcement of the policy rate of the US Federal Reserve on Wednesday, the information technology industry, which fuelled the economy, came down for the first time in more than 6 weeks. The Nifty IT Index during trade on Wednesday witnessed its biggest one-day fall since the 5th of August, dropping by 3.1% and closing at 42089 points. Its part, MphasiS, lost 5.6%, whereas TCS fell by 3.5% at the close. Further, all of L&T Technology Services, Persistent Systems, Infosys and HCLTech saw drop in share price greater than 3%.

Nazara Technologies: The organization completed a preferential allotment of equity shares, raising Rs 900 crore, and now holds 91 percent stake in Absolute Sports, the owner of the Sportskeeda brand.

Aurobindo Pharma: The pharmaceutical firm is going to acquire the remaining 49% stake of GLS Pharma for Rs. 22.5 crore, making it a wholly owned subsidiary. It is targeted that the said transaction will be done within December 31, 2024.

NTPC: The company has plans to raise approximately about 1.2 Billion USD ( 10000 Crore Rupees) through IPO of its Green Energy Arm, NTPC Green Energy Ltd. Major focus areas of the company are hydrogen generation and development of renewable energy resources.

Tata Power: To mitigate supply chain risks, the company wants to increase manufacturing capacity of solar cells and modules by 4 times over a period of three years. The company has invested Rs. 75,000 crores for achieving 20 GW of commission capacity by 2030 and also made investments in energy storage systems as well.

Aditya Birla Capital: Aditya Birla Finance and Aditya Birla Capital have effectively come together with the approval of the Reserve Bank of India.

BHEL and PFC: Among the two companies, Bharath Heavy Electricals Limited has paid the Indian government the final dividend of Rs 55 crore, whereas PFC announced historic dividends of Rs. 462 crore to the shareholders. For the year 2023-2024, PFC Limited Limited announced the overall amount of Rs455 crores in 2004. The government was paid in dividend currency of Rs462 crores.

Zee Entertainment Enterprises: Star India, after the failure of the ICC TV rights agreement, filed a complaint against Zee Entertainment for breach of contract for $940 million as damages. Zee has denied the allegations in the ongoing arbitration concerning the pending arbitration claim.

Zomato: The state of West Bengal has issued a GST demand notice of Rs 17.7 crore to the meal delivery service division of the company for service for the period between April 2021 and March 2022. The firm plans to appeal the decision in the appropriate court.

LIC: The company plans to invest over Rs 600 crores on technology transformation, wanting a paperless office in the next two years. The initiative also includes collaborations with Boston Consulting Group and Infosys.

SpiceJet: Institutional investors have shown strong interest in the airline’s Rs 3000 crore share sale via QIP issuance, as per people acquainted with the development. The funding will help the airline meet further its obligations and its legal requirements.

TCS: In order to modernize its IT infrastructure, McDonald’s Philippines has teamed up with the IT business for two years.