Top stocks in focus: Power Grid, Engineers India, Oil India, Prestige, Pharma stocks

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

Mar 26, 2021 07:03 IST India Infoline News Service

Stocks In Focus
Power Grid Corporation of India Limited, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired Bikaner-11 Bhiwadi Transco Limited (BBTL), the Project SPV to establish Transmission System Strengthening Scheme for Evacuation of Power from Solar Energy Zones in Rajasthan (8.1 GW) under Phase-II Part-F, on build, own, operate and maintain (BOOM) basis from the Bid Process Coordinator - PFC Consulting Limited.

Engineers India: The company entered into a Share Purchase Agreement ("SPA") for the proposed acquisition of 3,21,46,957 equity shares in the share capital of NRL (a company primarily engaged in the business of refining of petroleum products) from Bharat Petroleum Corporation Limited ("BPCL"). Also, as informed to you earlier, OIL India Limited ("OIL") is also a party to a SPA and would independently be acquiring 39,84,36,929 equity shares from BPCL pursuant to the SPA.

Prestige Estate Projects: The Company through its wholly-owned subsidiary Prestige Falcon Realty Ventures Pvt Ltd has invested through capital account contribution in Turf Estate Joint Venture LLP as a new partner in the LLP with equal share of profit and losses with DB Realty Limited.

Pharma stocks: Sun Pharma, Lupin, Cadila Healthcare, Torrent Pharma are in focus on subscribing to partnership interest in ABCD Technologies LLP (to be renamed as IndoHealtb Services LLP).

Mahindra Lifespace Developers announced the addition of a new residential project in Kalyan. The Company has entered into an agreement for sale for 10.3 acres. This new project will offer approximately 7 lakh sq. ft. of carpet area and is expected to be launched in FY 2022.

Siti Networks board approved the acquisition of76% equity stake in the paid-up Equity Share Capital of Meghbela Infitel Cable & Broadband Private Limited through its material subsidiary company namely Indian Cable Net Company Limited.

Compucom Software:  The Company has won a tender and received a Letter of Acceptance for “supply and installation of Computer Systems, Interactive Panel, Printer, UPS and Networking and Electrification etc. in 525 Government Schools with 5 years on site comprehensive warranty” for integrated scheme for Computer Education and Information and Communication Technology @ Schools on BOOT basis from RISL worth Rs. 66.99 Crores (Approx.)

Tata Consultancy Services (TCS) announced that its AI-powered retail optimization software suite, TCS OptumeraTM, has won the 2021 Data Breakthrough Award in the category Data Solution of the Year – Retail.

Infosys won three awards at the 4th DevOps Industry Awards. Infosys is the only participating service provider to have won the highest number of recognitions at these industry awards for three consecutive years.

Jio Content Distribution Holdings, Jio Internet Distribution Holdings, and Jio Cable and Broadband Holdings will sell 33,79,83,855 equity shares or 19.09% stake in Hathway Cable through offer for sale on March 26 and March 30.

LIC has bought more than 18.18 crore equity shares or 8.72% equity stake in Rail Vikas Nigam via open market transaction on March 24. The government had sold over 15% stake in the company via offer for sale during March 24-25.

Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Television Distribution Holdings will sell 5,54,85,048 equity shares or 11.63 percent stake in the company through offer for sale on March 26 and March 30. The floor price for the sale has been fixed at Rs 48.50 per share.

Somany Home: Group Atlantic, France, will invest Rs 68.3 crore for a 50% stake in the water heater business subsidiary of Somany Home Innovation. Subsidiary Hintastica is setting up a state-of-the-art manufacturing plant in Telangana and the plant will be completed by March 2022, with trial runs expected to commence from May 2022.

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