Reliance Industries, Tata Motors, L&T & Federal Bank will remain in focus
Upstox
2 min read • Updated: March 14, 2024, 9:57 AM
Summary
Indian markets witnessed a sharp meltdown on Wednesday, with broader indices falling upto 5%. The FII’s remained net seller to the tune ₹4596 crore, while DII’s were net buyers for ₹9090 crore.
Indian markets are expected to open marginally higher after a sharp downturn on Wednesday, with GIFT NIFTY indicating a positive start. Global markets, including the US and UK, are holding onto gains, while Asian markets show mixed trading on Thursday morning. Here are key developments for certain stocks:
Tata Motors
The leading automobile manufacturer has signed an MoU with the Tamil Nadu government to establish a manufacturing facility in the state with a 5-year investment plan of ₹ 9,000 crore, expected to create 5,000 jobs. Read more
L&T
The Building and factories division of L&T has secured significant orders from AIIMS to construct a campus in Madurai, including a 720-bed hospital, a 150-bed infectious diseases block, and other facilities. Read more
Reliance Industries
The company has entered into a binding agreement to acquire a 13.01% equity stake in Viacom18 Media Private Limited from Paramount Global subsidiaries for ₹4,286 crore.
SBI & Paytm
The largest state run bank State Bank of India has partnered with One97 communications (PAYTM) for its consumer UPI payments
Federal Bank
The Kerala based Federal Bank has stopped issuing fresh co-branded credit cards following RBI guidelines. However, the bank will continue to issue own credit cards and provide services for it as well. Read more
Godrej Properties
According to the exchange filing, the company has acquired a second land parcel in Hyderabad within a month, with a booking potential of ₹ 4,800 crore.
Adani Green Energy Ltd
The company’s step down subsidiary Adani Renewable Energy Fifty Nine Ltd, has entered into power purchase agreement with Solar Energy corporation of India (SECI) for supply of 534 MW.