Stocks to watch: Paytm, Adani, TCS, SpiceJet, L&T, NHPC

One97 CommunicationsShareholders of One97 Communications, which operate under the Paytm brand, have approved the re-appointment of Vijay Shekhar Sharma as the company’s managing director and chief executive officer, according to an investigative report filed by the firm on Sunday. Investor advisory firm IIAS had recommended against Sharma’s reappointment and several other proposals that were part of the agenda of the 22nd Annual General Meeting held on Friday. IIAS had said that Sharma had made several promises in the past to make the company profitable, but these were not fulfilled.

Adani EnterpriseAdani Group may present an open offer next week 31,000 crore to acquire 26% stake in two Indian listed entities Ambuja Cements and ACC of Swiss firm Holcim from public shareholders. In May this year, the Adani Group announced that it has entered into a deal to acquire a controlling stake in Holcim Limited’s business in India for USD 10.5 billion. Markets regulator SEBI this week approved the open offer. Open offer exceeds estimate 31,000 crores if fully subscribed.

TCSTech giant, Tata Consultancy Services (TCS) has delayed payment of variable compensation to select employees for the June 2022 quarter by almost a month. TCS is not the only one which has delayed variable payments to its employees. It is said that the Tata group-backed company is yet to finalize the variable pay for these select employees and is expected to make the payment by the end of this month. IT companies have hiked the salaries of their employees, which has impacted their margins in the June 2022 quarter. However, they continue with their plans to increase hiring and pay.

L&TLarsen & Toubro (L&T) on Saturday announced commissioning of a green hydrogen plant at its AM Naik Heavy Engineering Complex in Hazira, Gujarat. Shrikant Madhav Vaidya, Chairman, Indian Oil Corporation Limited inaugurated the plant. Larsen & Toubro said in a statement that the production of green hydrogen based on alkaline electrolysis process has started. The plant will produce 45 kg of green hydrogen per day, which will be used for captive consumption at the company’s Hazira manufacturing complex.

IIFL FinanceUK government-owned development finance body CDC Group Plc on Friday divested 3.56% stake in IIFL Finance Ltd. 453 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), CDC Group Plc sold 1,35,01,587 shares of the company. settlement of shares. was done at the average price of 335.64 Evaluation of each transaction 453.16 crores.

Adani PowerAdani Power Ltd on Friday said it has agreed to acquire DB Power Ltd, which owns and operates an ongoing 2×600 MW thermal power plant in Janjgir Champa district of Chhattisgarh. 7,017 crore. Adani Power in a regulatory filing to the stock exchanges said, “It is informed that Adani Power Limited has agreed to acquire DB Power Limited, a 2×600 MW thermal power plant operating at Janjgir Champa district, Chhattisgarh. owns and operates it.

NHPC: State-owned hydropower company NHPC on Friday announced its plans to develop two hydroelectric projects of 750MW and 450MW in Nepal, for which it signed an agreement in Kathmandu on Thursday. “NHPC Limited signed an MoU with Investment Board Nepal (IBN) to develop 750 MW Paschim Seti and 450 MW SR-6 hydroelectric projects in Nepal,” a company statement said.

SpiceJetThe Directorate General of Civil Aviation (DGCA) on May 1 suspended the pilot-in-command (PIC) license of SpiceJet’s flight for 6 months after ignoring the inputs of the co-pilot in a Boeing B737 aircraft from Mumbai to Durgapur. done. Serious unrest was faced during the descent, ANI quoted sources as saying. SpiceJet Boeing B737 aircraft SG-945, which took off from Mumbai to Durgapur, experienced severe turbulence while landing, resulting in injuries to some passengers.

ONGCSources said state-run Oil and Natural Gas Corporation (ONGC) is preparing for a record third interim chairman as no full-time head of India’s biggest profit-making company has been elected even 17 months after the post fell vacant. ONGC is without a regular Chairman and Managing Director since April 2021. Subhash Kumar, the senior-most director on the company’s board and director of finance, was named acting chief after Shashi Shankar retired on March 31, 2021. And when Kumar retired. On December 31, 2021, Director of Human Resources Alka Mittal has been given additional charge.

wockhardtDrug firm Wockhardt said on Saturday that it has tied up with various partners to introduce products to the US market, at its Illinois-based manufacturing plant in a phased manner as part of business restructuring in the US market to relieve all workers. ready for. The Mumbai-based company said it has entered into the US market with a number of US Food and Drug Administration (USFDA) approved manufacturing partners, after thorough due diligence and inspection of their facilities, to manufacture various products for sale in the US/North America. has been appointed.

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