Stocks to Watch: Adani Power, Tata Motors, Biocon, Marico, NTPC | Rare Techy

Adani Power: The company said it will seek shareholders’ approval for the proposed related party transaction worth up to ₹5,000 crore with AdaniConnex Pvt Ltd during its annual general meeting on July 27. The transaction involves the sale by Adani Power of its SPVs / subsidiaries.

Tata Motors: The Bombay High Court on Tuesday upheld the decision of Brihanmumbai Electric Supply & Transport (BEST) to cancel Tata Motors’ bid to supply the electric buses. ₹2,450 crore.

Biocon: The company’s arm Biocon Biologics has said its Bengaluru-based manufacturing plant has received EU GMP certification from Ireland’s Health Products Regulatory Authority following a GMP inspection in April.

Marico: The FMCG major has reported a “mid-single digit” volume decline in its India business during April-June. This performance is mainly dragged by the sharp drop in Saffola Oil. Excluding Saffola Oils, the India business posted marginal volume growth. Parachute Coconut Oil noted a minor volume decline, Marico said.

Power Management: The company has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest approx. ₹3,000 crore, to set up a greenfield 4 gigawatts of solar cells and 4 gigawatts of solar module manufacturing.

Development of Westlife: ICICI Prudential Life Insurance Company has sold 2.02% of its stake in the Indian fast food restaurant holding company, bringing its shareholding down to 5.13% from 7.15%.

Hindalco/Vedanta: Two firms and several companies in West Asia, have expressed interest in the proposed aluminum project Coal India in Odisha, two officials aware of the problem told Mint The largest coal producer in the world recently invited expressions of interest (EoI) for equity partners in the project. including bauxite mining, alumina and aluminum refineries and associated coal preparation plants.

NTPC: The state-owned power company said coal output rose by 61% to 42.40 lakh metric tonnes in the April-June quarter from 26.40 lakh metric tonnes (MT) in the same period a year ago. Pakri-Barwadih (Jharkhand), Dulanga (Odisha) and Talaipalli (Chhattisgarh) have contributed to achieving coal production.

Bajaj Finance: Lenders have booked 74 lakh new loans in the April-June quarter against 46 lakh a year ago. Combined core AUM grew 31% to Rs 2.04 trillion. Deposit up 22% to ₹34,100 crore on 30 June.

Tata Steel: The company said its consolidated steel output remained flat at 7.66 million tonnes (MT) during the April-June quarter of the current financial year. The company’s consolidated sales during the said period fell 4 percent to 6.53 MT, from 6.83 MT in the year-ago quarter.