Stocks to watch: Shares of firms like Ola Electric, Vodafone Idea, Tata Motors, Adani Ent, UltraTech, and others will be in focus on Monday’s trade
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Stocks To Watch On December 30: The markets experienced consolidation last week, with trading sentiment remaining subdued due to continued selling by FIIs and muted global cues, as the year-end festive season took hold. In today’s session, stocks of IOL Chemicals, Alkyl Amines, Ola Electric, JSW Energy, and Hero MotoCorp will be in focus, driven by various company developments.
AstraZeneca India: AstraZeneca’s Indian arm has reportedly laid off over 125 employees from its biopharmaceutical business unit.
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SJVN: SJVN has appointed Sanjay Kumar as the Chief Financial Officer (CFO), effective January 1, 2025.
Ola Electric: Ola Electric has seen the resignation of Anshul Khandelwal, Chief Marketing Officer, and Suvonil Chatterjee, Chief Technology and Product Officer, both effective December 27.
CAMS: Pullakurthi Srinivasa Reddy has resigned as the Chief Technology Officer (CTO) of CAMS, effective December 27.
IOL Chemicals: The Board of IOL Chemicals has approved a stock split in the ratio of 1:5, meaning each share will be divided into five shares for investors.
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JSW Energy: JSW Neo Energy, a subsidiary of JSW Energy, has entered into an agreement to acquire O2 Power Midco Holdings Pte and O2 Energy SG Pte for $1.47 billion.
Vodafone Idea: Vodafone Idea has been granted a waiver for the bank guarantee related to spectrum auctions held in 2012, 2014, 2016, and 2021, provided certain conditions are met, including that the pro-rated value of the spectrum used does not exceed the payment made by the company.
Adani Green Energy: Adani Green Energy has set up a new wholly owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L), with an authorized and paid-up capital of Rs 1,00,000. The subsidiary will focus on generating and distributing energy from renewable sources.
Tata Motors: Tata Motors, the leader in the electric vehicle (EV) market in India, has emphasized the importance of range to stay competitive. Its new EV models will offer a range of at least 500 km on a single charge, according to Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.
Adani Enterprises: Adani Enterprises, the flagship company of the Adani Group, is expected to see consolidated revenue grow at a CAGR of 17.5%, and net earnings increase by 45.8% from FY24 to FY27, according to a report.
Reliance Industries: Reliance Industries has acquired Karkinos Healthcare, a technology-driven oncology healthcare platform, for Rs 375 crore through its wholly-owned subsidiary, Reliance Strategic Business Ventures (RSBVL).
Zydus Wellness: Zydus Wellness has received a GST demand of Rs 56.33 crore, along with interest and penalties, from the Directorate General of Goods and Services Tax Intelligence, Surat Zonal Unit.
UltraTech Cement: UltraTech Cement will invest Rs 851 crore to acquire an 8.6% stake in Star Cement, a Meghalaya-based company with a 7.7 million tonnes per annum (MTPA) capacity in East India. UltraTech’s board approved the acquisition of up to 37 million shares at a price not exceeding Rs 235 each, excluding taxes.
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