In today’s trade, shares of Tata Motors PV, Hindalco, IDBI Bank, Waaree Energies, Adani Total Gas among others will be in focus due to various news developments.
Tata Motors PV
Ace investor Radhakishan Damani on Friday sold 16 lakh shares worth Rs 52 crore in Tata Motors Passenger Vehicles (TMPV) via a block deal in which the buyer was Derive Trading and Resorts Private Limited, a company in which Damani is one of the directors.Adani Total Gas
Adani Total Gas has cut the price of excess natural gas supplied to certain industrial customers to Rs 82.95 per standard cubic metre (SCM) from Rs 119.90 per SCM, effective 0600 hours on March 16, as upstream gas prices softened amid ongoing supply disruptions.
Coal India
State-owned Coal India aims to ensure power at a “just price” to the country amid the escalating West Asia crisis that endangers global shipping lanes and imported coal costs, a senior official of the company said.
Hindalco
Hindalco Industries has halted output of extruded aluminium, a value-added aluminium product, due to a gas shortage in the wake of supply disruptions in the Middle East, according to a company notice seen by Reuters. The Aditya Birla Group-owned metals producer declared force majeure to all of its extruded aluminium customers on March 11.Axis Bank
The National Consumer Disputes Redressal Commission (NCDRC) has directed Axis Bank to pay Rs 3.19 crore to a Delhi-based logistics company, holding the bank guilty of “deficiency in service” for refusing to accept demonetised currency notes for deposit during the 2016 demonetisation window.
IDBI Bank
The strategic sale of IDBI Bank may stall as financial bids for the lender are lower than the floor price set by the government, ET reported. The Centre may now need to halt the disinvestment process and cancel the bids. If it still intends to pursue the strategic sale of the lender, the government would have to start the bidding process afresh, which will take time.
Adani Power
Adani Power has secured a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for the supply of 1,600 MW from one of its upcoming ultra-supercritical thermal power projects, Adani Group company said on Sunday.
JSW Steel
JSW Steel will develop Minas de RevuboA coking coal mine in Mozambique in phases, a company statement said. Located in the Moatize coal basin of the Tete Province, Minas de RevuboA has 850 million tonne (MT) of reserves, and the potential to yield 250 MT of usable coking coal.
Waaree Energies
Waaree Energies held a groundbreaking ceremony for its upcoming integrated solar ingot and wafer manufacturing facility at Butibori, Nagpur. The facility will house 10 GW capacity each for solar ingots and wafers, establishing it as India’s largest integrated ingot and wafer manufacturing complex.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)