Stocks to Watch: Tata Power, GAIL, LIC, Suzlon, Eicher Motors, Hero MotoCorp
Tata Power: Has won the bid to acquire Bikaner-III Neemrana-II Transmission, a project special purpose vehicle set up by PFC Consulting, a subsidiary of Power Finance Corp. The project will be developed on a Build-Own-Operate-Transfer basis to provide transmission service for 35 years from the scheduled date of commercial operations, which is 24 months from the date of the SPV acquisition. The project cost is estimated at ₹1,544 crore.
GAIL: The company has filed an arbitration case against SEFE Marketing & Trading Singapore Pte Ltd (formerly Gazprom Marketing and Trading Singapore Pte Ltd) in the London Court of International Arbitration. The claims, filed on 30 November, amount to $1.817 billion and are related to the non-supply of LNG cargoes to GAIL under a long-term contract. Alkem Laboratories: The US Food and Drug Administration (FDA) had inspected the company’s API manufacturing facility at Mandva from 27 November to 1 December, and isssued a Form 483 with three observations.
There was no observation on data integrity. Life Insurance Corp: State-owned insurer Life Insurance Corp of India on Saturday said it has amended a framework to allow the induction of shareholders' directors on its board. LIC was listed on bourses last year.
The government raised ₹20,557 crore by diluting its 3.5% stake in the insurer. Hindustan Unilever: The FMCG major has partnered with Brookfield to set up a solar energy park with 45 MW capacity in Rajasthan. This will help HUL in its journey towards net zero.
Eicher Motors: Sales of Royal Enfield motorcycles in November rose 13% year-on-year to 80,251 units. Exports grew by 2% on year to 5,114 units last month. Hero MotoCorp: The world's largest two-wheeler manufacturing company has
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