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Home News Stocks to Watch: Adani Enterprises, RIL, Tata Power, Vedanta, IDBI Bank, NTPC

Stocks to Watch: Adani Enterprises, RIL, Tata Power, Vedanta, IDBI Bank, NTPC


Adani Enterprises :In the context of a report that questioned whether the Adani empire had actually repaid loans worth $2.15 billion, stock exchanges have sought clarification from Adani Enterprises Ltd., the flagship company of the Adani Group. Adani Ports’ shares fell 9.2%, while Adani Enterprises’ fell nearly 8% to a four-week low. Regulatory filings reveal that banks have not released a significant portion of promoters’ shares held as collateral, indicating that the loan has not been fully repaid, despite Adani Group’s claim of “full” repayment of $2.15 billion in share-backed loans. The E-Cane reports

RIL/Tata Power: Under the Production Linked Incentive Scheme, Reliance Industries Ltd., Tata Power Solar, and ReNew are among the companies selected to receive a government incentive of Rs 14,007 crore to encourage local manufacturing of solar modules. 11 businesses have received 38,600MW of capacity from the state-run Solar Energy Corporation of India, which was created to carry out the National Solar Mission. A statement from the power ministry stated that 16,800MW of capacity will be ready by April 2025 and 7,400MW of manufacturing capacity will be commissioned by October 2024.

Vedanta: Mining tycoon Anil Agarwal’s Vedanta Ltd pronounced its fifth interval profit on Tuesday 20.50 per value share or 2050%, for the monetary year 2022-23 adding up to 7,621 crores. The dividend record date has been set by the business for April 7, 2023. “approved the fifth interim dividend of 20.50 per equity share, or 2050% on face value Amount of 1/- per share for the financial year 2022-23, which is 7,621 crore,” the business stated in a regulatory filing. The exchange filing added that the interim dividend will be paid out within the legal deadline.

IDBI Bank: With effect from April 1, 2023, IDBI Bank announced on Tuesday that it has appointed Smita Harish Kuber as its Chief Financial Officer (CFO) and other key management personnel. Smita Harish Kuber has been named CFO in place of P. Sitaram, according to the bank. According to the regulatory filing, ED and CFO will retire on March 31, 2023, when they reach superannuation age. In the meantime, IDBI Bank also announced the resignation of Samuel Joseph Jebaraj, the bank’s Deputy Managing Director. As of April 5, 2023, the resignation will be effective.

NTPC: State-claimed NTPC Sustainable power will supply 1,300 MW of clean power nonstop to Greenco’s forthcoming green smelling salts plant in Kakinada. On March 28, 2023, NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited, entered into a term sheet with Greenco Zerosee Private Limited, a Greenco Group Company, for the provision of 1,300 MW of continuous renewable energy power Will. According to a statement, it will power Greenco’s upcoming Kakinada Green Ammonia plant. It should be noted that the partnership between the two businesses amounts to one of the largest contracts ever signed for the continuous supply of renewable energy to an industrial customer.

Britannia Industries: Britannia Industries has declared a dividend of 565.00% on a face value of 1 56.5 shares for the fiscal year that begins March 2022, or FY22. The dividend yield rises to 1,35 percent at Rs’s current market value of 4,192.50. Britannia has consistently paid dividends to its shareholders over the past five years, and Trendline data shows that the company has declared 24 dividends since July 2, 2001.

Jindal Stainless :Jindal Stainless Limited (JSL) has acquired a 49 percent stake in New Yaking Pte, an Indonesian metals company. Ltd., according to a Tuesday statement, for approximately $157 million (or 1,233 crore). JSL will be able to invest in, construct, operate, and develop a nickel pig iron (NPI) smelter facility in Indonesia’s Halmahera Islands through the joint venture. JSL said the unit is probably going to be charged in somewhere around two years, with a yearly nameplate creation limit of 200,000 metric tons with a typical Ni content of 14%.

Kalyan Jewelers : Warburg Pincus-owned Hydel Investments sold a little more than half of its stake in Kalyan Jewelers India Ltd. through an open market transaction on Tuesday. According to the discount information on NSE, Hydel Ventures sold a sum of 2,33,25,686 portions of Kalyan Gem dealers at Rs. 110.04 Based on the figures, the transaction value is 256.67 crore. However, it was not immediately possible to identify the buyer of the shares.

JSW Energy :On Tuesday, JSW Energy stated that it had reached an agreement to acquire all of the equity in 12 special purpose vehicles owned by its subsidiary, Mitra Energy (India) Pvt Ltd (MEIPL). JSW Neo Energy Limited (JSWNEL) had agreed to acquire a portfolio of 17 SPVs and 1 subsidiary SPV of 1,753 MW of renewable energy generation capacity from MEIPL in August 2022 (Transaction). According to a BSE filing, JSWNEL has now agreed to acquire the entire stake in 12 additional MEIPL Special Purpose Vehicles (SPVs) for the price approved by the board.

Varun Beverages: Varun Beverages has declared a 3.5-per-share equity dividend of 35.0% on the face value for the year ending December 2022. It has a dividend yield of 0.25% at the current share price of 1,353. The business has a solid dividend history and has paid dividends on a regular basis for the past five years. Since August 16, 2017, Varun Beverages Limited has paid out six dividends, including equity dividends, according to Trendline data. 2.50 shares per share are announced.


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