Stocks in the news: LIC, Tata Steel, Vedanta, Adani Enterprises and HDFC Twins

HDFC Bank, HDFC: The largest private lender said it has got banking sector regulator RBI’s nod for the merger proposal of its parent HDFC with itself. Touted as the biggest transaction in India’s corporate history, HDFC Bank on April 4 agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion, creating a financial services titan.


Life Insurance Corporation of India: The state-owned insurance behemoth LIC will invest Rs 80.67 crore in the proposed rights issue of its joint venture LIC (Nepal). The proposal was approved during the insurer’s board meeting on Monday. LIC will hold its first Annual General Meeting on September 27, 2022.

Tata Steel: The steel producer said it will work ‘expeditiously’ to restart NINL and simultaneously draw a plan to expand its capacity to produce 4.5 MTPA long products complex in the next few years.

said it also has to increase NINL’s capacity to 10 MTPA by 2030.

Titan Company: The Tata group firm said the outlook for its jewellery division in FY23 and mid-term is ‘positive’ with ‘excellent’ growth opportunity helped by multi-pronged efforts within the wedding market, momentum behind its gold exchange scheme and network expansion.

Adani Enterprises: The Adani group’s flagship firm has emerged as the lowest bidder in

‘s tender for imports of the dry fuel with quoting over Rs 4,000 crore for supply of 2.416 million tonne, even though the miner is likely to ‘negotiate the price.’

Vedanta: The mining giant reported a 3 per cent increase in its aluminium production to 5,65,000 tonnes in the April-June quarter of the ongoing fiscal. The company had produced 5,49,000 tonnes of aluminium in the corresponding quarter of the previous fiscal.

Private lenders: The Reserve Bank of India has imposed a penalty of Rs 1.05 crore on

and Rs 1 crore on for non-compliance of certain norms.

Tata Power: The Tata Groups power arm announced that it has inked a pact with the Tamil Nadu government to invest Rs 3,000 crore for setting up a new facility to manufacture solar cells and modules in Tirunelveli district of the state. The MoU outlines the commitment of both the parties to stimulate clean energy transition and employment generation.


VA Tech Wabag: The water treatment player said it has secured a repeat order worth about Rs 430 crores from

for engineering, procurement and construction of a 53 MLD desalination plant at Jamnagar, Gujarat.


Kirloskar Ferrous Industries: The smallcap pig iron firm has completed the upgradation of its mini blast furnace II (MBF-11) at the Koppal plant in Karnataka. The operations of MBF-11 have resumed from July 4. After the upgrade, the pig iron manufacturing capacity of MBF-11 has increased to 2, 17,600 metric tonne per annum and consequently.

PTC India Financial Services: The NBF, which has been facing probe over alleged governance issues, said that a lender-appointed auditor has given satisfactory report on its business operations. Last month, capital markets regulator Sebi had asked the company not to make any changes to the company’s board till the completion of the forensic audit.

Marksans Pharma: The drug maker is likely to to consider share buyback proposal later this week. The company said a board of directors will hold a meeting on July 8 to consider the proposal for share buyback.

Beema Cements: The cement maker’s promoters Prasanna Sai Raghuveer Kandula, and Fortuna Engi Tech and Structurals (India) have proposed to sell 48.91 lakh shares or a 15 percent stake through offer for sale on July 5-6. The floor price for the sale will be Rs 75 per share.