Stocks to watch, February 25: Akzo Nobel India, IREDA, Biocon, NTPC Green Energy, PSU banks, Tata Communications, ONGC, and more

At 7:56 AM, the NIFTY50 futures were trading at 22,589.50, up 19.50 points, or 0.09%. This suggests that the NIFTY50 index will open 24 points lower.

On the global front, Asian stocks were trading lower in the morning deals as investors were worried after US President Donald Trump signed an order to restrict Chinese investments in strategic areas such as chips, AI, and aerospace.

In the overnight trade, US stocks ended mostly lower. The Dow Jones Industrial Average rose 33.19 points, or 0.08%, to 43,461.21; the S&P 500 lost 29.88 points, or 0.50%, to 5,983.25; and the Nasdaq lost 237.08 points, or 1.21%, to 19,286.93.

The proposal received the shareholders' nod at Monday's 22nd Extraordinary General Meeting.

LIC said in a regulatory filing that the company received a communication/demand order on Monday from the Assistant Commissioner, Delhi, regarding excess ITC availed.

YESINTEK (ustekinumab-face), which is approved for the treatment of Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis, is now available to patients in the US, the company said in a statement.

The company's product is biosimilar to Stelara.

MPPGCL and NGEL shall jointly work for the formation of a joint venture company to meet the renewable generation obligation of the Madhya Pradesh power generating company and the renewable purchase obligation of the state's discoms (distribution companies), a regulatory filing said.

Malhotra was speaking on the sidelines of the Madhya Pradesh Global Investors Summit 2025.

"We are heavily invested in MP. Our largest investment in India happens to be in MP. We have around Rs 1,000 crore already invested here. We have been invested in this state for almost 50 years. Our experience with MP has been fantastic with the previous regime, and we hope that going forward with the new Chief Minister will be fantastic," he said.

The company said in a regulatory filing that the commercial papers were issued on February 21, with May 23, 2025, as the redemption date.

"Tata Communications Limited has issued and allotted Commercial Paper aggregating to an amount of ₹465 crore. The said Commercial Paper is listed on the National Stock Exchange of India Limited on February 24, 2025," the filing said.

The face value per security is ₹5 lakh.

TU32 was incorporated in India and registered with the Registrar of Companies, Gujarat, at Ahmedabad on February 12, 2025, and is yet to commence its business operations, a regulatory filing said.

The authorised as well as paid-up share capital of the TU32 stood at ₹5 lakh.

As per the two RFPs (requests for proposals) floated by DIPAM, the merchant bankers and legal advisors would be empanelled for three years, which could be extended by one more year. The last day for putting in bids by merchant bankers is March 27.

The company's board has approved the slump sale of the Powder Coatings Business (PCB) division and International Research Centre (R&D) division of the company to an indirect wholly owned subsidiary of Akzo Nobel N.V. (ultimate holding company of Akzo Nobel India Limited).

Akzo Nobel N.V., stylised as AkzoNobel, is a Dutch multinational company.

The sale amount of the Powder Coatings Business is ₹2,073 crore, and for the research division, the amount is ₹70 crore.

Each slump sale transaction is expected to be completed on or before December 31, 2025, the filing added.

The filing added that OGL will utilise the rights equity share capital proceeds for investments in the acquisition of a 100% equity stake in PTC Energy.

In addition, ONGC's board has also accorded approval to provide a replacement of a corporate guarantee of ₹75 crore on behalf of OGL in respect of PTC Energy.