Stocks to Watch, August 21: Fortis Healthcare, Ajanta Pharma, Globe Civil Projects, Bharti Hexacom, Vedanta, India Cements, Jupiter Wagons

In a business ecosystem, a “sister concern” refers to a company that is related to another company because both are owned, controlled, or managed by the same parent organisation, group, or promoters.

The Aditya Birla-owned firm will sell up to 2.01 crore (or 2,01,12,330) equity shares in ICEM “by way of an offer for sale through the stock exchange mechanism”, UltraTech said in a regulatory filing.

“We wish to inform you that the Committee of Directors and Officers of UltraTech Cement Ltd (MPS Committee), at its meeting held today, i.e., 20th August 2025, has approved the sale of up to 2,01,12,330 equity shares of The India Cements Limited (ICEM), representing 6.49% of the issued and paid-up equity share capital of ICEM,” it said.

The work order has been awarded by the Haryana Cricket Association for the construction of an international cricket stadium at Lohat in the Jhajjar district of the state, the EPC player said in a statement.

The value of the contract stands at ₹222.20 crore with a stipulated completion period of 24 months.

The share sale is expected to raise about ₹2,626 crore, with a floor price set at ₹1,030 per share. The floor price represents a 13% discount to the current market price (CMP), said a report by CNBC-TV18.

The company is fully co-operating with the officials and providing the clarifications and details sought by them.

The business operations of the company continued as usual and were not impacted due to the search.

"We deny the rumours in the social media, and the significant movement observed in the price of our shares across exchanges in the recent past is purely market driven," the pharma said.

TGHB shall issue the allotment letter after following the due process.

The land parcel is strategically located in a prime location in Kukatpally, in close proximity to HITEC City, and will offer an estimated revenue potential of nearly ₹3,800 crore (on the basis of current business assumptions), comprising premium residential apartments of varied configurations.

Once completed, the facility will be positioned as a Centre of Excellence for tertiary care services, bringing advanced medical infrastructure and global best practices to the state capital of Uttar Pradesh.

The company's revenue from operations climbed 22% to ₹292.77 crore in the first quarter of the financial year 2025-26, compared to ₹239.83 crore in the year-ago period.

Its net profit soared 174% to ₹24.64 crore in the quarter ended June 2025, as against ₹8.99 crore in the corresponding period of the previous fiscal year.

The jewellery manufacturer's earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed 153.93% to ₹38 crore in the reporting quarter from ₹15 crore in the June FY24 quarter. EBITDA margin stood at 13.13% vs 6.31%.

"Accountability is being taken, wherever required, and the board, along with the management team, remain fully aligned towards reinforcing a culture of trust, compliance and collective responsibility," he said in a note to customers.

The bank, which faced a slew of issues stemming from alleged irregularities at the top management in recognising bad loans and trading reverses, had reported a consolidated net loss of Rs 2,329 crore for the March quarter of FY25.

"The bank has taken decisive measures to address the identified legacy issues in treasury and microfinance, with enhanced oversight and controls in place," he said.

The global debut at the company's inaugural customer event marks a significant milestone in IdeaForge's mission to equip industries, government agencies, and researchers with cutting-edge aerial mapping and intelligence capabilities, it said.

The latest survey-grade UAV, purpose-built to map anything, anywhere, with all-terrain performance, even in the most extreme environments, offers more than 50 minutes of flight time with a LiDAR payload, under 7 kg take-off weight, among others, IdeaForge said.

Post stake acquisition, TBSPL has become a wholly-owned subsidiary of the company, Thermax said in an exchange filing.

Last week, Thermax said it "has entered into a Share Purchase Agreement with Everenviro Resource Management for the acquisition of a 23.03% equity stake in TBSPL, a subsidiary of the company".

The company did not disclose any financial details of the deal. Pune-based Thermax is a leading energy and environment solutions provider.

Besides, the National Company Law Tribunal (NCLT) on Wednesday deferred the hearing on Vedanta Ltd's proposed demerger to September 17, as market regulator SEBI is yet to complete the scrutiny of the proposal, while the central government has raised certain objections.

The matter, which was part-heard earlier, had been adjourned to August 20.

On July 2, the Ministry of Petroleum and Natural Gas had objected to Vedanta's proposed demerger before the NCLT Mumbai bench.

Meanwhile, the tribunal was informed by the Securities and Exchange Board of India (Sebi) that it has no further comments on the proposed demerger scheme and is verifying Vedanta's compliance with applicable regulatory norms.

After the transfer of the business to the subsidiary, the Certificate of Authorisation issued to the company will be voluntarily surrendered to RBI.