Home Business Tata Motors, Adani Enterprises, NTPC, and Others

Tata Motors, Adani Enterprises, NTPC, and Others

Tata Motors, Adani Enterprises, NTPC, and Others


After two days of losses, the market not only rebounded smartly in the previous session, but also showed good recovery from the day’s low, which resulted into the formation of a somewhat Bullish Piercing kind of pattern on the daily charts on the Nifty50. This pattern is generally formed in a downtrend and is bullish reversal pattern. The rally was despite weakness in global counterparts amid rising oil prices and the euro reaching 20-year low against US dollar.

The BSE Sensex rose 257 points to 59,031, and the Nifty50 jumped 87 points to 17,577, while the Nifty Midcap and Smallcap 100 indices gained more than 1 percent each, but the volatility remained on higher side, with India VIX rising by 0.06 percent to 19.05 levels.

Stocks in News

Tata Motors

The homegrown auto major has signed a Power Purchase Agreement (PPA) with Tata Power to develop a 7.25 Mwp onsite solar project at its commercial vehicle manufacturing facility here. The project will be a significant move to increase the renewable energy portfolio at its manufacturing facility.

Adani Enterprises

The Adani Group company’s indirect subsidiary Vishvapradhan Commercial (VCPL) exercised certain warrants for acquiring 99.5 percent shareholding in RRPR Holding (RRPR), a promoter company of New Delhi Television Limited (NDTV). The acquisition will result in VCPL acquiring control of RRPR. RRPR holds 29.18 percent stake in NDTV. VCPL, along with AMG Media Networks (AMNL) & Adani Enterprises will launch an open offer to acquire up to 26 percent stake in NDTV.

Ugro Capital

The company said its Investment and Borrowing Committee will meet on August 26 to approve raising of funds by way of issuance of non-convertible debentures through private placement basis.

Chennai Petroleum Corporation

Chennai Petroleum has decided to form a joint venture company along with Indian Oil Corporation and other seed equity investors (Axis Bank, HDFC Life Insurance Company, ICICI Bank, ICICI Prudential Life Insurance Company and SBI Life Insurance Company for implementing the 9 MMTPA refinery project at Cauvery basin refinery, at estimated cost of Rs 31,580 crore. Chennai Petroleum received board approval for equity investment of upto Rs 2,570 crore in the joint venture, towards its contribution of 25 percent.

Arvind SmartSpaces

The company has executed the agreements, as a promoter, in relation to the new platform. Arvind SmartSpaces, and HDFC Capital Advisors (as investment manager of HDFC Capital Affordable Real Estate Fund – 3 will make investments in company’s wholly owned subsidiary Arvind SmartHomes for acquisition and construction of real estate projects (platform funding). Arvind SmartSpaces will invest Rs 300 crore and HDFC Capital Advisors will invest Rs 600 crore in Arvind SmartHomes.


The company has decided to discontinue the production of high carbon ferro chrome for TATA Steel Mining at the end of October 2022. The company will undertake a scheduled maintenance of the Odisha smelters in November 2022 and switch over to production of manganese alloys in Odisha Works. The company has geared up for this additional production in Odisha, besides that in Telangana, aggregating to a rated capacity of 1,80,000 MT of manganese alloys per annum. The switchover would provide the company better economies of scale and improved market share in the manganese alloys segment. The agreement for the production of high carbon ferro chrome for TATA Steel Mining was for the period up to March, 2025.

Monarch Networth Capital

The company through Monarch Alternative Investment Fund raised Rs 252 crore in its second Cat-3 AIF. It plans to infuse Rs 1,000 crore in its existing and new businesses over the next three years. It has received interest from sovereign funds and family offices.

The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Read the Latest News and Breaking News here


Source link