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Stocks in News Today

March 31, 2022

NTPC: Damodar Valley Corporation (DVC) has signed a joint venture agreement with NTPC Renewable Energy Ltd, a fully owned subsidiary of the NTPC Limited, for renewable power projects in its command area.

Tata Steel: The Steel major said it will acquire ferro alloys producing assets of Odisha-based Stork Ferro and Mineral Industries for Rs 155 crore in an all-cash deal.

Axis Bank: American banking major Citi joined a long list of foreign banks that have either exited or cut down on their business presence in India with the sale of its consumer banking business to Axis Bank for Rs 12,325 crore.

HDFC: Markets regulator Sebi disposed of a show cause notice that was issued to Housing Development & Finance Corporation (HDFC) with respect to alleged violations of share transfer agent norms.

Tata Motors: The homegrown automobile major said TPG Rise Climate has subscribed to 3.75 crore compulsorily convertible preference shares worth Rs 3,750 crore as the first tranche of the proposed investment of Rs 7,500 crore in its passenger electric vehicle business.

Tejas Networks: The Tata Group firm will acquire 64.40 per cent stake in semiconductor firm Saankhya Labs Pvt Ltd for Rs 283.94 crore in an all-cash deal.

Godrej Properties: The realty firm said it has acquired a 9 acres land parcel in Pune to develop a housing project with an estimated revenue of Rs 1,400 crore.

Newgen Software: The IT company plans to double its business partners in the next 18 months to increase its revenue share in the growth markets.

V-Guard Industries: The consumer durable player plans to expand in northern, eastern and western regions of the country as it aims to garner over 60 per cent revenue from these regions in the next five-six years.

Nazara Technologies: A subsidiary of the gaming player Nazara Pte Ltd (Nazara Singapore) will invest $2.5 million in BITKRAFT Funds.