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Top 10 stocks for today – 18th April 2024

18 Apr 2024 , 08:33 AM

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

Adani Enterprises: Mumbai Travel Retail, a subsidiary of Adani Enterprises, has finalized the establishment of a joint venture called King Power Ospree Pte (KPO) in Singapore with KING Power International Pte, Singapore. This venture aims to engage in retail and wholesale operations. Mumbai Travel Retail will hold a 50% ownership stake in the share capital of KPO.

One 97 Communications: The Paytm operator has got approval from the National Payment Corporation of India (NPCI) to begin the user migration to the new Payment System Provider (PSP) bank accounts immediately. As a result, it began migrating '@paytm' users to Axis Bank, HDFC Bank, SBI, and YES Bank, assuring smooth UPI payments. All four banks are now live on the TPAP (third-party application provider), making it easier for Paytm to transfer customer accounts to these PSP (payment system provider) institutions.

Tata Consumer Products: The FMCG firm has finalised the acquisition of 8,26,07,277 equity shares (equal to 99.99% of Organic India's paid-up equity) from Fabindia. In January 2024, the board authorised acquiring Fabindia's whole share in Organic India.

Biocon: The biopharmaceutical business has inked an exclusive licensing and supply deal with Biomm SA, a specialised pharmaceutical company in Brazil, to commercialise its vertically integrated medicinal product, Semaglutide (gOzempic). The medication improves glycemic control in persons with type 2 diabetes.

HDFC Bank: The bank stated that on April 20, the board of directors may consider renewing the annual issuance of long-term bonds (financing infrastructure and affordable housing), perpetual debt instruments (part of additional Tier I capital), and Tier II capital bonds over the next 12 months via private placement mode.

Ambuja Cements: The Adani family has subscribed to the warrants programme in Ambuja, injecting a further ₹8,339 Crore, bringing the total capital inflow to ₹20,000 Crore. They expanded their investment in Ambuja by 3.6% to 70.3%, up from 63.2%. Ambuja plans to increase its capacity to 140 MTPA by 2028.

Tata Communications: The Tata Group Company reported a consolidated net profit of ₹321.2 Crore for the quarter ended March FY24, a 1.5% decrease from the previous year, owing to dismal operating margin performance. Revenue from operations increased by 24.6% year on year to ₹5,691.7 Crore in the quarter.

Infosys: The country's second-largest IT services business has announced a ServiceNow platform cooperation with Proximus, Belgium's premier provider of digital services and communications solutions. Infosys assisted Proximus in standardising its current procedures on the ServiceNow platform and transforming its customer service management (CSM) operations.

Vodafone Idea: The telecom operator garnered ₹5,400 Crore from institutional investors through an anchor book released on April 16, a day before the FPO's debut. The firm received investments from 74 institutional investors, including GQG Partners, Morgan Stanley, Fidelity, FIAM Group, UBS Fund Management, The Master Trust Bank of Japan, and HDFC Mutual Fund.

Power Grid Corporation of India: Power Grid has been designated the preferred bidder for the establishment of an inter-state transmission line for the evacuation of power from Rajasthan REZ Phase IV, a prospective renewable energy zone in Gujarat's Khavda area under Phase IV, and Rajasthan REZ Phase IV. These projects in Gujarat and Rajasthan are built, owned, operated, and transferred (BOOT).

For feedback and suggestions, write to us at editorial@iifl.com

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