stocks to watch, Vedanta, Medi Assist, Adani Green, Matrimony.com, Welspun Corp, HAL, NMDC, Maruti Suzuki, IEX, Gensol Engineering, Lemon Tree Hotels, RITES, ICICI Bank and more, these are the stocks to watch for today.

Medi Assist | Bessemer India has launched a block deal in the company. The deal size is reported to be ₹540.94 crore, with shares being offered at a floor price of ₹570 per share, according to multiple people familiar with the development. This price represents a 7.7% discount to Medi Assist’s most recent closing price.

Matrimony.com | Matchmaking service provider said the company will be considering a proposal for a buyback of equity shares on September 5, 2024. “This is to inform you that a Meeting of the board of directors of the company will be held on September 5, 2024, inter-alia, to consider and approve, the proposal for buyback of its fully paid-up equity shares of the company,” Matrimony.com said.

Welspun Corp | The company said its board has approved an investment of approximately $100 million to upgrade the high-frequency induction welding (HFIW) pipe manufacturing and coating capabilities of its wholly-owned subsidiary, Welspun Pipes Inc, in the United States.

NMDC | State-owned company released its provisional production and sales figures for August 2024, revealing a year-on-year decline in both metrics. The company reported a 10% YoY decline in its iron ore production for August 2024, totalling 3.07 MT compared to 3.41 MT in the same month last year.

Maruti Suzuki | The country’s largest carmaker reported a 2.2% year-on-year (YoY) increase in its total production for August 2024, with output rising to 1.69 lakh units compared to 1.65 lakh units in August 2023. This comes after the company reported a 3.9% YoY decline in total sales for August 2024.

IEX | The company said its wholly-owned subsidiary has entered into an “issuer agreement” with the International Tracking Standard Foundation (I-TRACK Foundation) and Evident EV Ltd. This agreement grants ICX the authority to act as a local issuer of international renewable energy certificates (I-RECs) in the Indian market.

Vedanta | The Anil Agarwal-owned mining conglomerate announced its third interim dividend of ₹20 per share, at the conclusion of its board meeting on Monday. The company had declared two other interim dividends of ₹11 and ₹4 per share respectively earlier this year.

Adani Green | The company announced that its board has approved the execution of binding documents, including a joint venture agreement, with Adani Renewable Energy Sixty Four Limited (ARE64L) and TotalEnergies Renewables Singapore Pte Limited (TotalEnergies).

Gensol Engineering | Homegrown company said the company in collaboration with Matrix Gas & Renewables Ltd has emerged as the lowest bidder for engineering, procurement, and construction (EPC) for developing India’s first bio-hydrogen project for India’s leading power generation company.

Lemon Tree Hotels | The hospitality firm announced the signing of its latest property, the Lemon Tree Hotel in Gir, Gujarat. The hotel will be managed by Carnation Hotels Private Ltd, a wholly-owned subsidiary of Lemon Tree Hotels Ltd. The new property is scheduled to open in the fiscal year 2030.

RITES | Transport infrastructure service firm said it received an order from the Office of the Assistant Commissioner of State Tax (SGST) in Ahmedabad, Gujarat. The order, dated August 31, and officially received on September 2, details a tax demand totalling ₹38.3 crore.

ICICI Bank | The bank has issued a statement refuting media reports that allege the lender continued paying a salary to SEBI Chairperson Madhabi Puri Buch after her retirement. The bank clarified that no salary or ESOPs have been granted to Buch since her retirement on October 31, 2013, aside from her rightful retirement benefits.

HAL | The Cabinet Committee on Security (CCS) greenlit the acquisition of 240 AL-31FP aero-engines for the Indian Air Force’s (IAF) Su-30 MKI aircraft, as announced by the Ministry of Defence. Valued at over ₹26,000 crore, the contract will see Hindustan Aeronautics Ltd (HAL) provide these engines under the Buy (Indian) category.

Continue Reading

First Published: Sept 2, 2024 7:46 PM IST