Stocks to watch: Hero MotoCorp, Adani Power, JSW Energy, IOC, LIC

Hero MotocorpHero MotoCorp, the country’s largest two-wheeler maker, on Thursday said it is finalizing a collaboration agreement with an American EV maker to jointly develop electric motorcycles, possibly for the Indian market. Hero MotoCorp said its collaboration with California-based Xero Motorcycles will focus on co-developing e-bikes. The company said that Zero is a manufacturer of premium electric motorcycles and powertrains. It added that Zero is the “global leader” in its segment.

Adani PowerThe Competition Commission of India (CCI) on Thursday said it has approved the acquisition of 100 per cent share capital of Diligent Power Pvt Ltd and DB Power Ltd by Adani Power Ltd. Diligent Power is primarily engaged in the activities of a holding company. It also provides project management and consultancy services limited to DB Power. DB Power operates a coal based thermal power plant in Chhattisgarh with an installed capacity of 1200 MW per hour.

JSW EnergyThe Competition Commission of India on Thursday approved the acquisition of 18 subsidiaries of Mytrah Energy by JSW Neo Energy Limited, a subsidiary of JSW Energy. According to an official release, the proposed combination envisages acquisition of 18 subsidiaries of Mytrah Energy (India) Pvt Ltd (Mytrah) by JSW Neo Energy Ltd through individual share purchase agreements. The combination provides JSW Neo Energy an opportunity to acquire an operational renewable portfolio of 1,753 MW.

Indian Oil CorporationThe country’s largest oil company Indian Oil Corporation (IOC) on Thursday said it will form a new company in GIFT City, Gandhinagar to carry out financial activities including global treasury services. In a stock exchange filing, IOC said its board has approved the formation of a wholly owned subsidiary and opening of its office at the International Financial Services Center (IFSC) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar.

LIC: Life Insurance Corporation on Thursday announced the purchase of an additional stake in specialty chemicals maker Deepak Nitrite to take its total stake in the company to over 5%. LIC in a regulatory filing on Wednesday said that the corporation’s stake in Deepak Nitrite has increased from 67,88,327 to 68,58,414 equity shares, raising its stake from 4.977 per cent to 5.028% of the paid-up capital of the said company.

InterGlobe AviationLargest Indian airline IndiGo today inducted its first cargo aircraft to launch a dedicated cargo service. The airline has inducted an Airbus A321 cargo aircraft, which has been converted from a passenger jet to a full cargo configuration in Singapore. IndiGo said the aircraft will be used to transport products such as valuables, express shipments, perishable goods, general cargo, documents and couriers for both domestic and international missions.

blue dart: Courier delivery service provider Blue Dart Express Ltd. will increase the price of shipments by an average of 9.6% with effect from January 1, 2023. Customers who signed up from October 1 to December 31 will not be affected by the price hike, the company said. The company said it adjusts its prices annually to take into account inflation, currency dynamics, fuel cost volatility, rising regulatory costs and other imperative costs, such as compliance of the workforce with safety regulations at more than 55,000 locations. related expenses.

Motherson Sumi WiringMotherson Sumi Wiring India (MSWIL), a leading solution provider for OEMs, is looking to issue bonus shares to its existing shareholders. The Board of Directors of the company will meet today to consider the proposal to issue bonus. In its regulatory filing, MSWIL said, “We would like to inform that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, 30th September, 2022 to, inter alia, consider the proposal for issue of bonus shares. To the equity shareholders of the company.”

Adani GreenAdani Green Energy Limited (AGEL) on Thursday said it has commissioned the world’s largest wind-solar power plant of 600 MW capacity in Rajasthan’s Jaisalmer. The plant has a power purchase agreement with Solar Energy Corporation of India (SECI) 2.69/kW for 25 years, a company statement said.

lupineDrug firm Lupine on Thursday said it has received a warning letter from the US health regulator for its manufacturing facility at Tarapur in Maharashtra. The US Food and Drug Administration (USFDA) inspected the site from March 22, 2022 to April 4, 2022. “The company does not believe that the warning letter will have an impact on existing revenue from the disruption of supply or operation of this facility,” the Mumbai-based company said in a regulatory filing.