Stocks to Watch: Adani Enterprises, Indigo, HDFC Bank, RIL, Sun Pharma, ZEE
Adani Enterprises: Karan Adani, MD of Adani Ports and Special Economic Zone, announced on SUnday that the Adani Group is set to invest approximately ₹60,000 crore in the expansion of its seven existing airports over the coming 5-10 years. He said that about half of this investment will be directed towards enhancing terminal and runway capacity within the next five years. The remaining funds will be allocated for the city-side development of the airports over the subsequent decade.
In addition to this, the group has plans to invest an extra ₹18,000 crore in the Navi Mumbai airport. The funding for these investments will be sourced from the internal accruals of the parent company, Adani Enterprises. Interglobe Aviation: Reports suggest that Rakesh Gangwal, co-founder of IndiGo, is contemplating selling a stake of up to 5.8 percent in Interglobe Aviation, the parent company of the airline.
This is a significant increase from his initial plan of selling a 3.3 percent stake, as reported by CNBC-TV18 on March 8. The intended equity sale is projected to generate close to ₹6,600 crore, with shares priced at a minimum of ₹2,925 each. HDFC Bank: The lender has initiated the process for the initial public offering (IPO) of its subsidiary, HDB Financial Services.
The bank plans to schedule the share sale of its financial services division in either the last quarter of 2024 or the first quarter of 2025, according to people in the know. HDFC Bank has called upon premier investment banks to provide bids and valuation estimates for the upcoming IPO, as per individuals privy to the matter. HDB Financial, a non-deposit-accepting lender, is projected to be valued between $9 billion and $12 billion ( ₹75,000 crore- ₹1 lakh crore) for the
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