Stocks to Watch: TCS, Adani Enterprises, Indus Tower, Airtel, LIC, Zydus Life
Tata Consultancy Services: TCS announced that it has received an adverse judgment from the United States District Court, Northern District of Texas, Dallas Division. The court ruled that TCS is liable for a total of $194.2 million, which includes $56,151,583 in compensatory damages, $112,303,166 in exemplary damages, and $25,773,576.60 in prejudgment interest.
TCS plans to defend its position through a review petition or an appeal to the appropriate court.Adani Enterprises: Gautam Adani and Adani Group companies increased their stake in Adani Enterprises by over 2% through open market purchases from September 2023 to June 2024. This increased their total shareholdings in Adani Enterprise from 71.95% to 73.95%.Indus Tower, Vodafone Idea: Vodafone Group may sell its entire $2.3 billion stake in Indus Towers through block deals next week.
This is part of Vodafone Idea’s strategy to raise funds for its ambitious 5G rollout and 4G coverage expansion plans.Paytm and Zomato: Paytm, owned by One97 Communications, is in advanced talks with Zomato to sell its movie and events ticketing business as part of a strategy to revamp amid declining sales. The discussions are ongoing, and no final decision has been made.
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