Stocks To Watch on March 5: Benchmark equity indices Sensex and Nifty settled at new record high levels on Monday in a highly volatile trade. In today’s trade, shares of Tata Motors, Park Hotels, Platinum Industries, Exicom Tele Systems, IIFL Finance among others will be in focus due to various news developments.
Tata Motors: Tata Motors Ltd. has given the green light to a plan to divide the company into two distinct listed entities, one focusing on passenger vehicles and the other on commercial vehicles.
M&M: Mahindra & Mahindra is set to receive another round of incentives as they take the lead in getting benefits under the government’s production-linked incentive (PLI) programme. Read more
IIFL Finance: The Reserve Bank of India (RBI) on Monday debarred IIFL Finance, a non-banking financial company (NBFC), from sanctioning and disbursing fresh gold loans following “material supervisory concerns” and to protect the interests of customers with immediate effect.
Macrotech Developers: The company has initiated a qualified institutional placement (QIP) to raise Rs 3,300 crore.
NTPC: NTPC Green Energy Limited has entered into a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited to collaboratively develop renewable power parks and projects in the state of Uttar Pradesh.
AU Small Finance Bank: The Reserve Bank of India has approved the amalgamation of Fincare Small Finance Bank with Jaipur-based AU Small Finance Bank, effective from April 1, 2024, creating an entity with a balance sheet of over Rs 1.16 trillion.
Godrej Agrovet: The promoters of Godrej Tyson Foods are in talks with potential investors, including private equity (PE) companies, to sell a minority stake in the company, according to a banking source close to the development.
Biocon Biologics: Biocon Biologics, a subsidiary of Biocon, on Monday officially announced a settlement with Bayer and Regeneron Pharmaceuticals. This agreement allows Biocon Biologics to launch Yesafili, a proposed biosimilar to EYLEA (aflibercept) Injection, in the Canadian market.
Cadila Pharma: Cadila Pharmaceuticals, on Monday announced the launch of a new influenza vaccine called Cadiflu Tetra.
Jio Financial Services: Two promoters of Jio Financial Services Ltd. are set to acquire 14 crore shares of the subsidiary. Sikka Ports and Terminals Ltd. and Jamnagar Utilities and Power Pvt. will collectively acquire a 2.2% stake in Reliance Industries Holding Pvt.
LTIMindtree: The company’s product division, Fosfor, has introduced the Fosfor Decision Cloud.
NBCC: The company’s unit secured an order valued at Rs 92 crore from the Post Graduate Institute of Medical Education and Research in Chandigarh.
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