Stocks to Watch: RIL, TCS, Vedanta, JSW Steel, Adani Ports, IndiGo
Reliance Industries: According to reports, Reliance is close to finalising a cash and stock agreement to acquire Walt Disney's India operations. It is speculated that the US entertainment powerhouse might relinquish a controlling interest in the Disney Star enterprise, estimating its worth at approximately $10 billion. Conversely, Reliance has appraised the assets to be valued within the range of $7 billion to $8 billion.
TCS: Tata Consultancy Services (TCS) Ltd is revising the rates it pays to about 1,000 staffing firms for every engineer deployed, the first such revision by India’s largest information technology (IT) services company in the past six years. The Mumbai-based company communicated to the staffing firms last month that the new pricing structure for engineers, depending on the skill sets, will be effective from January, according to two executives privy to the development. Vedanta: India's Vedanta on Tuesday said CFO Sonal Shrivastava has resigned amid a major structural overhaul announced last month.
Ajay Goel, incumbent CFO at Indian edtech startup Byju's, will return as Vedanta's finance chief effective Oct. 30, the company said in a statement. Billionaire Anil Agarwal-led Vedanta announced plans to carve the metals-to-oil conglomerate into six separate businesses last month.
JSW Steel: JSW Steel Ltd, India’s second-largest maker of the alloy, plans to establish a green steel manufacturing facility by 2030 as part of its response to the European Union’s (EU’s) Carbon Border Adjustment Mechanism (CBAM), said Jayant Acharya, joint managing director and chief executive. However, Acharya did not divulge the funding outlay for the project or the timeline for project approval. Adani Ports: Adani Ports and
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