Stocks to watch: TCS, NTPC, IDBI Bank, Adani Enterprises, Zee Entertainment

Tata Consultancy ServicesAfter the unexpected resignation of IT services chief Rajesh Gopinathan, K. Krithivasan has been named chief executive. On Thursday, TCS informed the exchanges that Gopinathan has resigned. The move will be effective from September 15, making Gopinathan’s six-year tenure the shortest in the company’s history.

NTPCMalaysia’s Petronas has offered 38 billion to buy a 20% stake in the green energy arm of NTPC, India’s biggest power producer, in the first deal of its kind by the state-run firm, the agency reported. was higher than the offer price 30 billion was expected of NTPC when it had sought expression of interest in NTPC Green Energy (NGEL) last year. This values ​​NGEL at $2.3 billion.

IDBI Bank: The central government may shelve plans to privatize the $4 billion IDBI Bank amid concerns that unprecedented volatility in the market could deter potential buyers. At current prices, the government and the Life Insurance Corporation of India (LIC) would have to sell at least 68% to get $4 billion.

Adani Enterprises: National Stock Exchange (NSE) and BSE have said that three Adani group companies – Adani Enterprises, Adani Power and Adani Wilmar – will move out of short-term Additional Monitoring Measures (ASM) with effect from March 17. The exchanges had on March 8 placed three firms of the Adani group under the ASM framework.

zee entertainmentThe National Company Law Tribunal (NCLT) has allowed Indian Performing Right Society Limited, the operational creditor of Zee Entertainment Enterprises, to withdraw its insolvency petition. The move will bring the company closer to its merger with a Sony Group unit to create a $10 billion media platform.

Samvardhan Madrasan: Japan’s Sumitomo Wiring Systems sold 3.4% in promotion Motherson International on Thursday. 1,612 crore through an open market transaction. Sumitomo Wiring Systems (SWS) is a promoting unit in Samvardhana Motherson International (SAMIL). Sumitomo sold 23 crore shares of the firm at an average price, according to wholesale deal data available with the National Stock Exchange. 70.1 each.

Hindustan Aeronautics: Defense Minister Rajnath Singh approved the procurement proposals in the Defense Acquisition Council meeting 70,000 crore worth of various weapon systems for the Indian Defense Forces. The deal includes procurement of 60 UH maritime helicopters from Hindustan Aeronautics (HAL) 32,000 crores.

Glenmark Pharmaceuticals: The company’s subsidiary has received approval from a US health regulator to proceed with a Phase 1/2, first-in-human trial for its investigational new drug aimed at treating patients with advanced cancer.

Rail Vikas Nigam: State-owned railway company has emerged as the lowest bidder (L1) for the projects 111.85 cr. The scope of work includes supply, installation, testing and commissioning of 11 KV line connected works in various circles of MPPKVVCL, Jabalpur company area.

VoltasUniversal MEP Projects & Engineering Services (UMPESL), a subsidiary of the company, has bagged several SITC project orders. 1,770 crore in electrical power distribution business for FY23 including solar power project.