Tata Power, Aurobindo, SBI Life, Power Grid, and Others


Indian benchmark indices are likely to open higher on Tuesday following an uptrend in Nifty50 futures contract. The contract that is listed on Singapore Exchange rose 0.5 per cent to 17,373.5 points as of 6:46 am. The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 110 points. The BSE Sensex climbed 231 points to 57,593, while the Nifty50 jumped 69 points to close at 17,222 and formed a small bullish candle which resembles Hammer kind of pattern formation on the daily charts.

Tata Power

The company has collaborated with Rustomjee Group to provide end-to-end electric vehicle charging solutions across all its residential and commercial projects in Mumbai Metropolitan Region.

Wockhardt

The company’s board of directors has approved the allotment of 3.32 crore equity shares at Rs 225 per share in the rights issue announced earlier this year.

SBI Life Insurance

The company on March 28 has launched a block deal wherein Canada Pension Fund will sell its 0.56 per cent stake in the company at a price band of Rs 1,039 – Rs 1,077 apiece. This is the second sale by Canada Pension Fund in a week. Last week it sold 4 crore shares in Kotak Mahindra Bank.

ICICI Bank

The lender will buy a 15 per cent stake in India Debt Resolution Company in tranches.

Aurobindo Pharma

The company has acquired business and certain assets of Veritaz Healthcare, for Rs 171 crore. Veritaz operates in the pharmaceutical industry in India and sells branded generic formulations and other healthcare-related products.

Swelect Energy Systems

Subsidiary Swelect Renewable Energy has successfully commissioned a 11 MWac solar power plant in Trichy, Tamil Nadu. It had executed power purchase agreements with captive users – Hatsun Agro Product, Prashanth Fertility Research Centre, and Mudhra Fine Blanc – for the sale of solar power for a period of 15 years from the said plant.

Power Grid Corporation of India

The company approved an investment worth Rs 821.3 crore in five projects including transmission system strengthening beyond Kolhapur for export of power from solar and wind energy zones in the southern region, transmission system strengthening for Srinagar-Leh transmission system, augmentation of transformation capacity in the southern region, and augmentation of transformation capacity at Kurukshetra & Patiala substations.

Welspun Specialty Solutions

The company has received Rs 15.97 crore from one of its customer, a public sector undertaking after an arbitral award passed in favour of the company. This payment is with regard to certain disputes that arose out of a contract for supply of seamless pipes by the company.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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Divyansh Singh

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