Stock that will see action today: 8 January 2025

Tata Steel has said its crude steel production in the country grew by six per cent to 5.68 million tonnes, up 8 per cent q-o-q, in the third quarter of the current fiscal. The company’s crude steel output was 5.35 MT in the corresponding quarter of the previous fiscal. Deliveries in India reached 5.29 MT for the third quarter, up 8.4 per cent year-on-year, due to steady sales in the domestic market and strategic presence in exports.

Dr Reddy’s Laboratories Inc., USA, the wholly owned subsidiary of Dr Reddy’s Lab, has entered into an agreement for the sale of all the issued and outstanding membership interests in its wholly owned subsidiary, Dr Reddy’s Laboratories Louisiana LLC (DRLL), along with the manufacturing facility of DRLL in Shreveport, Louisiana, USA, for $1. Consequently, Dr Reddy’s Laboratories Louisiana LLC will cease to be a wholly owned subsidiary of Dr Reddy’s Laboratories Inc., as well as a step-down wholly owned subsidiary of Dr Reddy’s Laboratories

Ola Electric has received an administrative warning from market regulator SEBI for a compliance lapse. The issue stems from Chairman Bhavish Aggarwal sharing plans for a major store expansion on social media before notifying stock exchanges, violating timely disclosure norms for listed companies. In a separate development, the Karnataka High Court has granted Ola six more weeks to respond to the Central Consumer Protection Authority’s request for additional documents and details.

Mahindra & Mahindra on Tuesday said it is looking to sell 5,000 units of its two newly introduced electric models per month in the initial phase. The Mumbai-based auto major unveiled two ground up electric models — BE 6 and XEV 9e — in November last year with deliveries expected to commence around March this year It priced the the top-end variant of BE 6 Pack Three at Rs 26.9 lakh, and XEV 9e Pack Three at Rs 30.5 lakh.

WPIL’s European subsidiary Gruppo Aturia has acquired 100% shareholding of MISA Italy, based in Arzignano, Italy. Misa is a leading Italian company in the business of large pumping station projects and supply of pumps and hydro turbines with a rich heritage dating back to 1901 and large reference list across Europe and North Africa.

Puravankara Ltd has appointed Deepak Rastogi as the Group Chief Financial Officer (CFO), with effect from January 15. Rastogi brings over three decades of extensive experience in finance, strategy, and transformation across diverse industries and international markets, Bengaluru-based Puravankara said in a statement.

Tata Technologies has announced a strategic collaboration with Telechips to develop innovative vehicle software solutions for next-gen software-defined vehicles (SDVs). The partnership will leverage Tata Technologies’ deep expertise in automotive software engineering and integration of next-gen technologies for turnkey SDV development, and Telechips semiconductor technologies, including SoCs (system on chips), AI Vision ADAS (Advanced Driver Assistance Systems) processors, and network gateway processors, a company statement said.

Mankind Pharma has pledged the remaining 56.31% of its shares in its subsidiary, Bharat Serums & Vaccines, in favour of Catalyst Trusteeship as the Common Security Trustee for the benefit of the holders of the NCDs (non-convertible debentures).

The board of Jindal Worldwide has approved the issuance of bonus equity shares in a 4:1 ratio, offering four fully paid-up equity shares for every existing share held by eligible shareholders.

Signature Global has reported a more than two-fold jump in sales bookings to Rs 2,770 crore mainly on better demand for its housing projects in Gurugram. The company had sold properties worth Rs 1,260 crore in the year-ago period.

Indian Hotels Company Ltd (IHCL) has announced the signing of a 100-key hotel in Dehradun, Uttarakhand, under its Gateway brand. “Dehradun’s proximity to popular destinations such as Mussoorie, Rishikesh, and Haridwar has attracted a mix of leisure travellers, pilgrims, and business delegations driving a significant rise in tourism.

CARE Ratings assigned a ‘CARE AA; Stable’ rating to Adani Power’s proposed non-convertible debentures and reaffirmed its bank loan ratings.

Rail Vikas Nigam Ltd has signed an MoU with Dubai-based GBH International Contracting LLC to collaborate on infrastructure projects in the Gulf Cooperation Council (GCC) region.

NTPC has incorporated a new subsidiary, NTPC Parmanu Urja Nigam Ltd, to lead its nuclear energy ventures. NTPC Parmanu Urja Nigam has been incorporated as a wholly owned subsidiary of NTPC for undertaking Nuclear Energy Business, the PSU energy major said in a notice to the exchanges.

CESC Limited (CESC) has issued the Letter of Award to Purvah Green Power Private Limited (Purvah), a subsidiary of CESC, pursuant to the response submitted by Purvah on the Request for Selection document issued by CESC in terms of the “Guidelines for tariff Based Competitive Bidding Process for procurement of Power from Grid Connected Wind Solar Hybrid Power Project”

Results calendar: Adarsh Mercantile, Reliance Home Finance, Transformers and Rectifiers and Vivid Mercantile.

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