Nifty settled at 22,819.60, falling by 486.85 points or 2.09% while the BSE Sensex closed at 73,583.22 on Friday, declining 1,690.23 points or 2.25% amid high volatility as markets were mainly dragged by financials, auto and consumer stocks. Indian frontline indices ended their two-session rally amid sharp cuts as a failure in the Iran-US negotiations dented the market mood. Elevated energy prices and a plunging rupee aggravated troubles for domestic investors.

When markets resume trading today, TVS Motor Company, Info Edge, NTPC, NHPC, Coal India, Sammaan Capital, Som Distilleries & Breweries will be in focus due to various related developments.

TVS Motor Company, Info Edge, NTPC, NHPC, Coal India, Sammaan Capital, Som Distilleries & Breweries
TVS Motor Company
TVS Motor Company has launched the Apache RTR 310 in Morocco, expanding its presence in Africa’s premium motorcycle segment. The track-inspired streetfighter brings performance, advanced technology and strong global appeal, building on the Apache brand’s success across multiple international markets.
Info Edge
Info Edge (India) Ltd will invest up to Rs 250 crore in an alternative investment fund (AIF) to back early-stage deep-tech companies in the country. According to a regulatory filing, the company has entered into a contribution agreement with A88 Fund I, a scheme by SEBI-registered A88 Trust. The objectives of the Scheme (A88 Fund I) will be to generate long-term growth for the contributors and support the Indian entrepreneurial ecosystem by investing in early-stage deep tech companies in India (or primarily focused in India).

NTPC
NTPC said its subsidiary NTPC Green Energy Ltd has declared commercial operations (COD) for additional solar capacities—75 MW at the 500 MW Bhadla project in Rajasthan and 105 MW at the 1,200 MW Khavda-II project in Gujarat. Following this, the NTPC group’s total installed capacity has reached 88,889 MW, with commercial capacity at 87,809 MW.

NHPC
NHPC said its subsidiary NHDC Limited has received an income tax demand notice of Rs 231.78 crore, including Rs 45.31 crore in interest, from the Income Tax Department. Separately, NHPC has increased its stake in Ratle Hydroelectric Power Corporation Ltd to 51% from 49.72% following additional equity infusion, making it a majority-owned subsidiary.
Sammaan Capital
The company said that it has received all regulatory approvals for Avenir Investment RSC Ltd’s proposed acquisition of a controlling stake in Sammaan Capital Ltd. The investor, backed by International Holding Company PJSC, plans to invest about Rs 8,850 crore via a preferential issue. Post-issue, it will hold around 41.2% stake, which could rise to 63.3% after the open offer. The company and investor are now working to complete the transaction at the earliest.

Ahead of this, Moody’s upgraded the company’s credit rating to B1 from B2 with a positive outlook, citing improved asset quality, stronger capital position, and better funding access. The company expects further rating upgrades after the deal is completed and IHC comes in as promoter.

Coal India
Coal India Limited has received a Letter of Award (LOA) from Telangana Power Generation Corporation Limited for Setting up of 750 MWh (187.5 MW for 4 hours) BESS Plant at Choutuppal. The time period by which the order(s)/contract(s) is to be executed is 18 months from signing of BESPA. The estimated project cost is Rs 1,057.09 crore.

Som Distilleries & Breweries
The company said there is no change in the status of its licence suspension since February 5 and it is working to resolve the issue. While a Single Bench of the Madhya Pradesh High Court did not grant relief, a Double Bench has allowed its associate company to participate in the country liquor tender process. The final court order is awaited.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Domestic indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights. In today’s trade, shares of Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS among others will be in focus due to various news developments.

APL Apollo Tubes
The National Company Law Appellate Tribunal (NCLAT) has directed the NCLT to hear afresh the insolvency plea filed by APL Apollo Tubes against one of its purchasers of goods.

RIL
Reliance Jio’s technology and telecom industry collaboration with TM Forum has seen an 80% increase in resource contribution from its members, chairman Akash Ambani said.Som Distilleries
Police said on Monday they had launched an investigation into Som Distilleries and Breweries after the government’s child rights agency announced it had found children working at a distillery.Mahindra Lifespace
Realty firm Mahindra Lifespace Developers Ltd is targeting a sharp increase in its annual sales of housing properties and industrial space to Rs 8,000-10,000 crore by 2027-28 fiscal on rising demand.

Lupin
Drug maker Lupin said it has entered contract development and manufacturing organisation (CDMO) business, with newly formed subsidiary, Lupin Manufacturing Solutions (LMS).

Vodafone Idea
Vodafone Idea (Vi) may offer more shares in future to its vendors, including two European network vendors-Finland’s Nokia and Sweden’s Ericsson-to clear its remaining legacy operational dues, analysts said.

Hindustan Aeronautics
Hindustan Aeronautics Limited (HAL) said the Defence Ministry has issued a request for proposal (RFP) for 156 light combat helicopters (LCH).

Alembic Pharma
Alembic Pharma received a final FDA approval for Icatibant injection, 30 mg/3 mL (10 mg/mL) single-dose prefilled syringe.

Zomato, Paytm
Online food delivery platform Zomato said on Sunday that it is in talks with Paytm to acquire the financial technology company’s movies and events business.

Zydus Life
USFDA has classified Zydus Life’s injectable manufacturing unit At Pharmez SEZ, Matoda unit as official action indicated.

Biocon
USFDA has issued three observations for Biocon’s API facility (Site 6), located at Visakhapatnam, Andhra Pradesh.

Wipro
Wipro extended its partnership with Hanesbrands, an apparel brand, to further drive its digital transformation, business growth, and enhance long-term profitability.

TCS
A US court has ruled that Tata Consultancy Services is liable for misappropriation of trade secrets and levied penal charges of around $194 million on the IT major.

Bharti Airtel
Bharti Airtel prepaid Rs 7,904 crore to the department of telecom to clear high cost deferred liabilities for spectrum acquired in 2012 and 2015.

IndiGo
IndiGo said it will receive a customised compensation from Pratt & Whitney for grounded planes due to unavailability of engines

Adani Enterprises
Adani Group’s promoter entities, including billionaire Gautam Adani raised their stake in the flagship entity Adani Enterprises by just over 2%.

Ace investor Dolly Khanna added three new smallcap stocks to her portfolio in the quarter ended March 31, 2024, viz. Repco Home Finance, Som Distilleries & Breweries and Selan Exploration Technology. The inclusion comes on the back of a strong rally in these stocks over the last one-year.

Khanna bought a 1.11% stake in Repco Home Finance in the January-March quarter. The Chennai-based housing finance company was incorporated in 2000. Its returns in the last 12 months stand at an impressive 157%, a significant outperformance over the 26% returns given by Nifty during this period. In 2024 so far, the stock has delivered returns of 15%.

In Som Distilleries, Khanna purchased a 1.14% stake in the said quarter. The stock’s returns in the last 12 months stand at 101% and so far this year at 15%.

The brand known for its ‘Hunter’ beer brand also produces Pentagon Gold Edition Whisky, Milestone Blue and Legend Premium Whisky, White Fox Vodka, Milestone Brandy, Pentagon Rum and Black Fort Rum.

As for Selan Exploration, this investor bought a 1.03% stake in the reported quarter. The Gurugram-based company is involved in the business of oil & gas exploration.

This smallcap counter has seen its rally extend up to 144% over a 1-year period. On a year-to-date basis, the stock has shot up 29%. Shareholding of individual investors is reflected in the ‘Shareholding Pattern’ of BSE-listed companies on reaching 1% stake or above in the company. Khanna, whose portfolio is managed by her husband Rajiv Khanna, held 19 stocks at the end of the March quarter and its net worth is over Rs 553 crore according to Trendlyne data.

Other stocks in her portfolio include Talbros Automotive, Zuari Industries, Rajshree Sugars & Chemicals, Control Print, Salzer Electronics, Butterfly Gandhimathi, Mangalore Chemicals & Fertilizers, Deepak Spinners and Prakash Pipes.

Also Read: Ashish Kacholia trims stake in multibagger Aditya Vision, 2 more smallcaps in March quarter

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)