Top 10 stocks for today – 20th March 2024

20 Mar 2024 , 08:28 AM

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

UltraTech Cement: The company has received the approval from the Competition Commission of India for the acquisition of Kesoram Industries’ cement business. The company said that its board of directors authorised the transaction in November 2023.

Adani Enterprises: Adani Tradecom, a subsidiary of the Adani Group, announced that it has purchased a 49 percent ownership in Adani Green Technology from Adani Trading Services LLP. As a result, Adani Green Technology (AGTL) has become a (step-down) fully owned subsidiary of Adani Enterprises. Mundra Solar, AGTL’s wholly owned subsidiary, has now become a (step-down) wholly owned subsidiary of the firm.

Tata Consultancy Services: Central Bank, a major Midwest regional bank in the United States, will employ TCS’s BaNCS, a universal financial solution, to modernise its fundamental technological infrastructure, stimulate innovation, and increase client connections. The Central Bank’s strategic relationship with TCS seeks to build seamless and adaptable client onboarding procedures, allowing the bank to continue its expansion.

HDFC Bank: The lender sold 14,01,72,180 HDFC Credila equity shares to Kopvoorn BV, Moss Investments, Defati Investments Holding BV, and Infinity Partners for ₹95,52,73,40,670. HDFC Credila is no longer a subsidiary of HDFC Bank.

Vodafone Idea: ATC Telecom Infrastructure has asked that Vodafone convert 14,400 optionally convertible debentures totaling ₹1,440 Crore into 144 Crore fully paid-up equity shares of Vodafone Idea. Following shareholder approval, Vodafone issued ₹1,600 Crore in optionally convertible debentures (OCDs) to ATC Telecom in February 2023. In August 2023, the redemption period for the first tranche of OCDs worth ₹800 Crore was extended by 12 months.

Bharti Airtel: As part of internal reorganisation, the telecom operator would buy a 95% stake in Airtel Limited, a step-down wholly-owned subsidiary business, from another wholly-owned subsidiary firm and transfer its entire interest in subsidiary Nxtra Data to Airtel Limited. Furthermore, the financial markets regulator SEBI has approved Bharti Hexacomm, a Bharti Airtel entity, to launch an initial public offering (IPO).

Aurobindo Pharma: The pharmaceutical business has gained final FDA permission to produce and commercialise Mometasone Furoate Monohydrate Nasal Spray, 50 mcg/spray. This is bioequivalent and therapeutically equivalent to the reference listed drug (RLD) Nasonex Nasal Spray by Organon LLC. The product will be introduced in the first quarter of FY25. Mometasone Furoate Monohydrate Nasal Spray treats the nasal symptoms of seasonal and persistent allergic rhinitis.

Apollo Hospitals Enterprise: Madhu Sasidhar will be re-designated as President and Chief Executive Officer of the Hospitals Division, effective April 1, 2024. Currently, Madhu Sasidhar is the company’s Chief Strategy Officer. K. Hariprasad, the current President of the Hospitals Division, will resign from the firm on March 31, 2024.

Shakti Pumps: On March 19, the submersible pump producer issued a QIP (qualified institution placement) offering to raise up to ₹200 Crore. The floor price has been set at ₹1,272.09 per share.

Persistent Systems: The IT services firm signed a Share Purchase Agreement (SPA). According to the SPA, Aepona Group, Ireland, will transfer its 100% interest in Persistent Systems UK to the firm for 7,430,000 pounds. Both are step-down subsidiaries of the corporation.

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