Stocks to Watch: Zomato, Vedanta, Torrent Power, Yes Bank, Reliance Power
Zomato: The company has received three orders from the sales tax officer, Delhi, and deputy commissioner, Bengaluru, alleging short payment of GST along with applicable interest and penalty under the Central Goods and Services Tax, totalling ₹4.24 crore. These orders are for financial year 2018.
Vedanta: Has received two orders worth ₹48.82 crore, along with applicable interest and penalty of 10% of GST demand, from additional commissioner, GST and Central Excise Commissionerate, confirming the demand for GST input tax credit availed during FY18 and FY19 on account of interpretational issues in terms of relevant provisions of the Central Goods and Services Tax Act. Dr Reddy's Laboratories: The step-down subsidiary Dr Reddy’s Laboratories has acquired a 6.46% stake in Israel's Edity Therapeutics Ltd for $2 million.
Separately, the company has received an order from GST authorities towards tax demand, including interest and penalty. Torrent Power: Has incorporation wholly-owned subsidiary Torrent Green Hydrogen Private Ltd.
The newly incorporated entity will manufacture, assemble, purchase, purify, store, transport, experiment with, the supply, trade and generally deal in hydrogen, its by-products and/or its derivatives like ammonia, chemicals, compressed natural gas and mineral substances. Yes Bank: Pertaining to the sale of the NPA portfolio to JC Flowers ARC on 17 December 2022, the private sector lender has received ₹150 crore from a single trust in the security receipts portfolio.
Reliance Power: The company has transferred the development rights and associated physical assets of the proposed 1,200 MW KalaiII hydro-electric project at Lohit River Basin of Arunachal Pradesh to THDC for ₹128.39 crore. PVR Inox: Nippon
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