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Sunday, April 21, 2024

Keep an eye on these stocks: Indigo, Adani Ent, HDFC Bank, RIL, Zee Ent, RVNL, and more

<p><strong>Stocks to Watch on March 11:</strong> For the third week in a row, the equity markets broke records and reached all-time highs. Due to a number of news events, shares of IndiGo, JSW Energy, Alembic Pharma, RVNL, and KPI Green, among others, will be the subject of attention in today’s trading.</p>
<p><img decoding=”async” class=”alignnone wp-image-495561″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-keep-an-eye-on-these-stocks-indigo-adani-ent-hdfc-bank-ril-zee-ent-rvnl-and-more-u.jpg” alt=”theindiaprint.com keep an eye on these stocks indigo adani ent hdfc bank ril zee ent rvnl and more u” width=”977″ height=”732″ title=”Keep an eye on these stocks: Indigo, Adani Ent, HDFC Bank, RIL, Zee Ent, RVNL, and more 15″></p>
<p><strong>Adani Enterprises:</strong> The Adani Group plans to spend over Rs 60,000 crore on the development of its seven current airports over the next five to ten years, according to a statement made on Sunday by Karan Adani, MD of Adani Ports and Special Economic Zone. Within the next five years, he added, nearly half of this expenditure would go toward expanding the terminal’s and the runway’s capacity. The residual funds will be used for the airports’ urban development for the next ten years. The company also intends to spend a further Rs 18,000 crore on the Navi Mumbai airport. Adani Enterprises, the parent firm, would use its own accruals as the source of finance for these initiatives.</p>
<p><strong>Interglobe Aviation:</strong> According to reports, co-founder of IndiGo Rakesh Gangwal is thinking of selling as much as 5.8% of the airline’s parent business, Interglobe Aviation. Compared to his original proposal, which CNBC-TV18 published on March 8, which called for selling a 3.3% interest, this represents a big rise. With shares valued at a minimum of Rs 2,925 apiece, the planned equity sale is expected to produce close to Rs 6,600 crore in revenue.</p>
<p><strong>HDFC Bank:</strong> The lender has started the process for its subsidiary HDB Financial Services’ initial public offering (IPO). According to those with knowledge, the bank intends to hold the financial services division’s share sale in either the first or final quarter of 2025. According to people with knowledge of the situation, HDFC Bank has requested bids and value estimates from leading investment banks for the impending initial public offering. An investment banker participating in the negotiations claimed that HDB Financial, a non-deposit-accepting lender, is estimated to be valued between $9 billion and $12 billion (Rs 75,000 crore–Rs 1 lakh crore) for the IPO, depending on market circumstances.</p>
<p><strong>Reliance Industries:</strong> In preparation for its upcoming $8.5 billion merger with Disney’s India division, Reliance Industries’ Viacom18 has reorganized its entertainment divisions under the direction of two senior executives. Kiran Mani, who took over as Chief Executive of Digital Business (JioCinema) in November of last year, would now be in charge of the sports and digital divisions under the new setup. Kevin Vaz, who joined the company in July of last year as CEO – Broadcast, will oversee the whole content division. Viacom18 Sports’ CEO, Anil Jairaj, who was previously accountable to the board, will now report to Mani, with Kiran and Kevin serving as co-CEOs.</p>
<p><strong>SJVN:</strong> A long-term contract to provide 600 MW of solar electricity to Rajasthan has been inked by SJVN Green Energy, a division of the state-owned SJVN. 100 MW of solar electricity from the Rajasthan Solar Power Project is provided under the Power Purchase Agreement (PPA), while 500 MW of solar power from the Bikaner Solar Power Project is supplied under the Power Usage Agreement (PUA). The electricity ministry announced that both agreements will be in effect for a period of 25 years. As per the deal, 500 MW of electricity from the 1,000 MW Bikaner Solar Electricity Project would be supplied by SGEL at a cost of Rs. 2.57 per unit.</p>
<p><strong>Zee Entertainment Enterprises:</strong> Led by its Managing Director and Chief Executive, Punit Goenka, the company announced major changes on Saturday in the income division of its broadcast business. In light of these modifications, Rahul Johri, who had been serving Zee Entertainment Enterprises for three and a half years as President, Business, has resigned. Insider information indicates that further high-level departures are expected. After Johri joined, Punit Goenka used to be the boss of Ashish Sehgal, the chief growth officer for ad revenue. Now, he would be reporting to him once again.</p>
<p><strong>Sun Pharmaceuticals:</strong> According to the US health agency, the business is removing over 55,000 bottles of a generic gout drug from the US market because of violations of manufacturing practice standards. The Mumbai-based company’s New Jersey office is recalling 40 mg and 80 mg of Febuxostat tablets, according to the US Food and Drug Administration’s (USFDA) most recent Enforcement Report. Due to violations of Current Good Manufacturing Practice guidelines, Sun Pharmaceutical Industries Inc. is recalling 47,520 bottles (40 mg) and 7,488 bottles (80 mg) of the drug, respectively (CGMP).</p>
<p><strong>Rail Vikas Nigam Limited:</strong> On March 9, the railway construction business said that the Madhya Pradesh Metro Rail Corporation had given them the go-ahead to design and construct five elevated metro stations, a ramp between chainages, and an elevated viaduct. The project, which will cost Rs 543 in total, is expected to be completed in around three years, according to the company’s stock market filing. This is the business’s second order in a row.</p>
<p><strong>Nazara Technologies:</strong> Two people with knowledge of the matter claim that the gaming firm intends to purchase Smaaash Entertainment Pvt. Ltd. via the insolvency and bankruptcy procedures. In an effort to save the insolvent company, Nazara has submitted its resolution plan by March 9th as part of this procedure. A number of organizations expressed interest in the bankrupt company last year, including Adlabs Entertainment (Malpani Group), Manikchand Group, FZE, Tech Connect Services, Capri Global, Jindal Enterprises, and iLabs India Special Situation Fund.</p>
<p><strong>Gensol Engineering:</strong> According to a corporate release, Gensol Engineering has taken the lead 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. Under a tariff-based global competitive bidding methodology, Gensol will carry out the project and provide Gujarat Urja Vikas Nigam Ltd. with on-demand energy storage capacity. Gujarat’s state distribution company would get 70 MW / 140 MWh of electricity for two daily cycles of charging and discharging. Over the course of the contract, the project is anticipated to increase Gensol’s income by ₹450 crore; however, the business has not yet disclosed the precise timeframe.</p>

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