Stocks To Watch on April 1: Equity markets ended the last fiscal on a positive note despite uncertainty around valuations in the broader market. In today’s trade, shares of IDFC First Bank, Indian Oil, Infosys, Zomato, JSW Steel will be in focus due to various news developments.
Bank Of India: Bank Of India has received a demand notice of just over Rs 1,000 crore from the assessment unit, Income Tax department, pertaining to AY 2016-17.
IDFC First Bank: Private equity firm Warburg Pincus exited IDFC First Bank by selling its entire 2.3% stake through the open market on Thursday for Rs 1,195 crore.
NTPC: The state-owned power giant has closed down its Barauni Thermal Power Station Stage-I of 220 MW, comprising two units, permanently effective March 31, 2024.
HDFC Bank: The private lender has entered into a binding term sheet to sell its entire equity stake in HDFC Education and Development Services Pvt. Ltd.
Zomato: The online restaurant aggregator and food delivery company has received a tax demand and penalty worth Rs 23.26 crore from Karnataka tax authorities.
It, however, will be filing an appeal against the order before the appropriate authority.
Zee Entertainment Enterprises: ZEEL has reduced the workforce at its Technology and Innovation Centre in Bengaluru by about 50 pet cent, to cut costs.
NHPC: NHPC Limited has secured Foreign Currency Loan of JPY 20 billion (around Rs 1,100 crore) from Japan Bank for International Cooperation (JBIC), Japan for implementation of renewable projects across India.
Infosys: It expects a refund of Rs 6,329 crore from the Income Tax Department.
Globus Spirits: The liquor maker has commenced commercial production of additional capacity at two of its existing units located in Jharkhand and West Bengal.
Veranda Learning: Veranda Learning Solutions, through its subsidiary Veranda XL Learning Solutions, has acquired 50 per cent equity stake in Tapasya Educational Institutions (TEIPL) for Rs 240 crore.
Chennai Petroleum Corporation: The Board has accorded approval for the revision in cost of a project from Rs 29,361 crore to Rs 33,023 crore.
Simultaneously, state-owned Indian Oil Corporation (IOC) said it will raise its stake in the joint venture building a 9 million tonnes refinery at Chennai to 75 per cent amid increase in project value.
RVNL: Rail Vikas Nigam Ltd has emerged as the lowest bidder for three projects worth Rs 148.26 crore (South Eastern Railway), $7.15 million (North Eastern Frontier Railway), and Rs 95.95 crore (Energy Development Corporation).
Indian Oil: IOCL has signed binding term sheet with Panasonic Energy to manufacture Lithium-Ion Cells in India.
Torrent Power: The company has received Letter of Award from Torrent Power Ltd. Distribution unit for a project worth Rs 1,825 crore.
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