In today’s market action, several stocks are under focus due to key developments:
- UltraTech Cement and India Cements: Shares are in focus as the Competition Commission of India (CCI) has granted unconditional approval for UltraTech’s acquisition of India Cements. This development paves the way for consolidation in the cement sector.
- Reliance Industries: The company announced plans to acquire a 45% stake in US-based Health Alliance Group for $10 million, aiming to bolster its presence in the health segment.
- JBM Auto: The company bagged an ₹1,800 crore order for 343 electric buses for Ahmedabad’s Bus Rapid Transit System (BRTS), boosting its clean energy portfolio.
- Sterling & Wilson: The company secured a ₹1,200 crore order for a 500 MW (AC) solar PV project in Gujarat, reaffirming its position in renewable energy.
- Vedanta: The stock is under pressure as the board has decided against the proposed demerger of its base metals business, raising concerns about its restructuring strategy.
- Metal stocks: The Directorate General of Trade Remedies (DGTR) has recommended a safeguard investigation on steel flat product imports, creating uncertainty in the metals sector.
Other notable updates include Granules India, where Fidelity Funds sold 1.30% stake via block deals, with Aditya Birla Mutual Fund and Bandhan Mutual Fund among the buyers. Aurobindo Pharma‘s arm, CuraTeQ, received marketing approval from the UK’s health regulator for the cancer drug Bevqolva, and AGI Greenpac‘s board approved a ₹1,500 crore fundraise.
Stay tuned for further updates as these stocks remain in focus during market hours.
Disclaimer: The above information is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.