Stocks to watch today: Shares of firms like Vedanta, Ruchi Soya, Future Retail, ONGC, and others will be in focus in Friday’s trade
The last day of the financial year 2021-22 turned out to be a volatile one for the market as the Nifty50 closed with moderate losses but defended 17,450 levels. However, on a positive note, FIIs played a supportive role after a long time as they bought more than Rs 3,000 crore worth of shares in the cash segment on the day of F&O expiry.
Vedanta
Billionaire Anil Agarwal-owned company has entered into certain long term power security agreements for green and renewable energy (RE) power for Hindustan Zinc, Bharat Aluminum Company and Vedanta (Jharsuguda Aluminium Operations) via captive power projects. These projects will be created through dedicated special purpose vehicle (SPV) for each entity.
Nuvoco Vistas Corporation
The company has made timely payment of redemption amount and interest for its non-convertible debentures of Rs 400 crore.
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Sterlite Technologies
The company has signed the definitive agreement to sell its 64.98% stake in Maharashtra Transmission Communication Infrastructure (MTCIL). Total consideration of Rs 43 crore agreed to be received in multiple tranches.
Ruchi Soya Industries
The board has approved issue price at Rs 650 per equity share for its follow-on public offer.
NCC
The company along with other shareholders of NCC Vizag Urban Infrastructure (NCCVUL) has entered into a Share Purchase Agreement with GRPL Housing Private Limited (Gardencity Realty Group, Bangaluru) to sell their entire shareholding in NCCVUL to GRPL.
HG Infra Engineering
Subsidiary Gurgaon Sohna Highway Private Limited has received the provisional certificate for the project in Haryana.
HDFC Asset Management Company
Life Insurance Corporation of India acquired 2.02 per cent stake in the company via open market transactions. With this, its shareholding in the company stands at 7.02 per cent, up from 5 per cent earlier.
Future Retail
Debt-ridden Future Retail Ltd’s CEO Sadashiv Nayak has resigned from the post seven months after his appointment, according to a filing. Future Group CEO Kishore Biyani has been re-appointed as executive chairman of the company for three years, a regulatory filing said on Thursday.
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ONGC, Reliance Industries
The government on Thursday more than doubled the price of natural gas that is used to produce electricity, make fertilisers, turned into CNG and piped to household kitchens for cooking, on the back of a spike in global energy prices. The price of gas produced from old regulated fields, such as the nation’s largest gas field of Bassein of ONGC, will rise to a record high of USD 6.10 per million British thermal unit (mmBtu) from the current USD 2.90 per mmBtu, according to the oil ministry’s Petroleum Planning and Analysis Cell (PPAC).
Hero MotoCorp
The Income Tax Department has found alleged illegal business expenses of over Rs 800 crore, Rs 60 crore “unaccounted” cash used to purchase land in Delhi and role of some shell companies after it raided Hero Motocorp and two other groups, officials said on Thursday.
