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HomeNewsStocks to Watch: Mahindra Logistics, Sterlite Tech, Amara Raja, JSW Energy

Stocks to Watch: Mahindra Logistics, Sterlite Tech, Amara Raja, JSW Energy


The Sensex and Nifty indices are likely to have a tepid start to Tuesday’s trade amid mixed global cues. At 7:40 am, the SGX Nifty futures were around 22 points higher at 17,043 levels.

Globally, US closed over 1 per cent lower on Monday. Asian indices were mixed this morning. That said, here are some out for in today’s trade.

Mahindra Logistics: The company has announced the acquisition of the B2B express business of Gurugram-based logistics firm Rivigo Services, which will help the company accelerate its capabilities in this space. Ltd (MLL) will acquire the express business through a business transfer agreement (BTA), including the customers, team and assets of Rivigo’s B2B express business and its technology platform. Read here

Vodafone Idea: and state-owned Energy Efficiency Services Limited will install 33.3 lakh additional smart meters in Uttar Pradesh and Haryana, the two companies said in a statement. Read here

Hindustan Aeronautics: The company has set up a Rs 208 crore Integrated Cryogenic Engine Manufacturing Facility (ICMF) here that would cater to the entire rocket engine production under one roof for Indian Space Research Organisation. Read more

DLF: Realty major will develop a new luxury housing project in Gurugram with an estimated sales realisation of about Rs 1,800 crore, its Group Executive Director Aakash Ohri said on Monday. Read more

SAIL: Bhilai Steel Plant (BSP), an arm of state-run Steel Authority of India (SAIL), has been reeling from a severe coking coal crisis that has reportedly affected the output in the company. The stock of imported coking coal in the BSP has been depleting fast since a fortnight. Read more

Sterlite Techologies: Sterlite Global Venture (Mauritius), a wholly owned subsidiary of the company has agreed to sell the entire stake (amounting to 80 per cent of the entire share capital) held in Impact Data Solutions Limited, UK to Hexatronic Group AB. The initial consideration would be an amount of £9.6 million The additional earnout consideration, capped at a maximum amount of £7.2 million will be determined based on the actual EBITDA performance of IDS UK, the company said.

Embassy Office Parks REIT: Blackstone Inc is slated to sell 7.7 crore units of Embassy REIT worth Rs 2,650 crore via block deals on September 27, as per reports. The offer price of the block deal stands at Rs 345 per unit.

Amara Raja Batteries: The company said its board has given approval to the demerger of plastic component for battery business with the name of Mangal Industries. The turnover of the said business as of March 2022 was Rs 569.4 crore.

Jubilant FoodWorks: The company had acquired 29.42 per cent stake (on fully diluted basis) in Roadcast and the acquisition of the remaining 10.58 per cent stake (on fully diluted basis) is likely to be completed by October 26, 2022 as agreed with Roadcast.

JSW Energy: India Ratings and Research has upgraded the rating of the long-term facilities to ‘IND AA/Stable’ from lND AA-/Stable’.

Shakti Pumps: The company has received an advance worth $6 million from EXIM Bank on behalf of the Government of Uganda to supply solar‐powered water pumping system.

Filatex India: The company has commissioned its project for debottlenecking a melt capacity of 50 MT per day and manufacturing lines of 120 MT per day at Dahej Plant.

Stocks under F&O ban: Vodafone Idea, Zee Entertainment, PNB.


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