Stocks to watch: Zee, Adani Transmission, Reliance, Tata Consumer, Vedanta

zee entertainmentSony Group and a unit of India’s Zee Entertainment have proposed concessions like pricing discounts to help ease the country’s antitrust regulator’s concerns over their merger, which will create a $10 billion TV behemoth, two sources told Reuters. The concessions are in a bid to address antitrust concerns of the Competition Commission of India (CCI), which in an August 3 notice warned companies of further investigation, saying their “polite market position” allows them to enjoy “unique”. will allow. Bargaining power with 92 channels in India’s vast media and entertainment market”.

VedantaVedanta Ltd. has chosen Indian Prime Minister Narendra Modi’s home state Gujarat for its semiconductor project, two sources told Reuters, the first major step in a $20 billion joint venture with Taiwan’s Foxconn. Vedanta received financial and non-financial subsidies, including capital expenditure and cheap power, from Gujarat to build the semiconductor plant, a source familiar with the matter said.

Adani TransmissionAdani Transmission (ATL) on Monday issued a statement regarding the arbitration dispute with Reliance Infrastructure Limited. In addition, Adani Transmission said it would present the claims against Reliance Infra in the arbitration proceedings.

HDFC LifeUnited Kingdom-based investment company Abrdn is looking to sell up to 4.3 crores, representing 2% of HDFC Life Insurance Company’s outstanding shares, through a block deal to raise more. 2,425 crores. Formerly known as Standard Life Aberdeen, the Edinburgh-based firm has offered shares in the price band of from 564.1 578.55, which is a discount of up to 2.5% at the close of the stock on September 12 in the block deal.

Tata Consultancy ServicesC&S Wholesale Grocers, Inc., an industry firm that provides supply chain solutions and wholesale grocery supplies in the United States, has selected Tata Consultancy Services to build its new operations platform on Google Cloud, according to the report. The move by the American company is aimed at reducing its carbon footprint and enhancing the customer experience.

JSW SteelJSW Steel on Monday reported a 22 per cent increase in crude steel production at 16.76 lakh tonnes in August this year. The private steel major had produced 13.77 lakh tonnes in the year-ago month. Production of 12.01 lakh tonnes of flat products last month was up from 8.99 lakh tonnes in August 2021. The quantity of long product increased by 25 per cent to 3.75 lakh tonnes in the month under review.

Tata ConsumerTata Consumer Products on Monday said it has forayed into the health supplement segment by launching a plant-based protein powder. Tata GoFit, a health supplement range for women, is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics. Speaking about the new launch, Deepika Bhan, President – ​​Packaged Foods (India), Tata Consumer Products, said, “There is an increasing trend among consumers to be more fitness conscious in their choices with greater focus on their nutritional intake.

RelianceAccording to industry sources, the satellite arm of Reliance Jio Infocomm has received a letter of intent (LOI) for satellite communication services from the DoT. Sources said the LOI was issued to Jio Satellite Communications Limited (JSCL) on Monday. Meanwhile, sources said the Department of Telecommunications (DoT) has provided a letter of intent to the company for global mobile personal communication by satellite (GMPCS) services.

Future Lifestyle FashionFuture Lifestyle Fashion Limited (FLFL) is seeking consent of its members for sale of in-store retail infra-assets, which will be used for repayment of debt and other operating liabilities. The Future Group firm is conducting an e-voting, which begins on September 14, 2022 and ends on October 13, 2022, said the postal ballot notices submitted by FLFL before the stock exchanges.

SpiceJetThe Delhi High Court has clarified that there is no bar to probe into the alleged fraud case against SpiceJet promoter Ajay Singh with regard to transfer of shares of the airline to certain persons. The clarification came on an order passed by Justice Anoop Kumar Mendiratta on Singh’s anticipatory bail plea in the matter. “As prayed by the learned Additional Standing Counsel for the State, it is clarified that there is no stay on the investigation,” the court said in its order on September 8.

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