Top 10 stocks for today – 15th March 2024

15 Mar 2024 , 08:23 AM

Here are some of the stocks that may see significant price movement today.

One97 Communications: The National Payments Corporation of India (NPCI) has approved One97 Communications, Paytm’s parent company, to participate in UPI services as a third-party application provider (TPAP) under a multi-bank format. Paytm will offer the payment service in collaboration with four new banks—Axis Bank, HDFC Bank, State Bank of India, and Yes Bank—who will serve as its payment system providers (PSPs).

Wipro: The IT services and consultancy business has signed a deal with Desjardins to modernise consumer banking services with its NetOxygen Platform. The solution will benefit Desjardins’ consumer loan and credit card businesses.

Ashok Leyland: Creador, a private equity fund, has invested $50 million in Hinduja Tech, an engineering R&D services company, and Ashok Leyland affiliate, acquiring 19.6% of its shares. This investment gave Hinduja Tech a post-money equity value of $255 million.

Tata Consumer Products: The business’s board of directors has authorised the Share-based Long Term Incentive Scheme 2024, under which the company will distribute performance share units (PSUs) to qualifying workers of the company and its subsidiaries. The corporation would issue PSUs worth no more than $9,000,000 in one or more tranches.

Crompton Greaves Consumer Electricals: The firm has received orders from the governments of Maharashtra, Haryana, and Rajasthan for the delivery, installation, testing, and commissioning of solar photovoltaic water pumping systems (SWPS) with PV modules under the PM-KUSUM Scheme.

NCC: NCC Infrastructure Holdings (NCCIHL) has entered into a deal with TAQA India Power Ventures (TAQA) and Himachal Sorang (HSPL) to settle the financial obligations related to arbitration awards for the Himachal Sorang Power Project. The project was transferred to TAQA in September 2012. NCCIHL has already set a provision of ₹140 Crore in its books of account for the disputed sums till February 2024. According to the settlement, NCCIHL agreed to pay TAQA ₹175 Crore in three payments.

Eris Lifesciences: The board of directors has approved the pharma company’s deal to purchase a 19% ownership stake in Swiss Parenterals from the company’s entrepreneurs for ₹237.50 Crore. In addition, the firm paid ₹1,242 Crore for Biocon Biologics’ India-branded formulation business, allowing it to reach India’s injectables market worth over 30,000 Crore.

Shakti Pumps (India): The Maharashtra Energy Department Agency (MEDA) has issued a letter of award to the submersible pump maker for 3,500 solar photovoltaic water pumping systems (SPWPS) at various locations across Maharashtra as part of component B of the PM-KUSUM project. The work order is valued at around ₹93 Crore.

Navin Fluorine International: The company would make an additional investment of ₹250 Crore in subsidiary Navin Fluorine Advanced Sciences (NFASL) by subscribing to non-convertible, redeemable preference shares to repay current intercorporate deposits and meet NFASL’s future business capital needs.

India Grid Trust: IndiGrid 2, a fully owned subsidiary of India Grid Trust, has secured a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam (GUVNL) to install 180 MW and 360 MWh battery energy storage systems in Gujarat for ‘on demand’ use. The project will be built up using the build-own-operate (BOO) approach. The project will generate more than ₹97 Crore in yearly income, with a 12-year concession period following the commercial operation date (COD).

For feedback and suggestions, write to us at [e-mail]