Top 10 stocks for today – 26th March 2024

26 Mar 2024 , 08:55 AM

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

Reliance Industries: The board of directors has approved the acquisition of 100% equity shares of MSKVY Nineteenth Solar SPV and MSKVY Twenty-second Solar SPV from MSEB Solar Agro Power, which is controlled by billionaire Mukesh Ambani. The acquisition is consistent with the terms of Reliance’s offer for 128 MW of solar power dispersed across multiple sites in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. The deal is planned to conclude by the end of April 2024.

Mankind Pharma: Investor Beige is expected to sell up to a 2.90% stake in the pharmaceutical business through block transactions. The offer price is in the range of ₹2,103-2,214 per share, representing a 0-5% reduction to Friday’s closing price. Currently, Beige owns a 2.99% stake in Mankind.

Maruti Suzuki India: The country’s largest automobile manufacturer has recalled 11,851 Baleno and 4,190 WagonR vehicles made between July 30, 2019, and November 1, 2021. There is a probable fault in a component of the fuel pump motor, which might result in engine stalling or difficulty starting. Meanwhile, Maruti invested ₹1.99 Crore in Amlgo Labs, a technology-driven startup, accounting for more than 6.44% of the company’s shares.

Hindustan Aeronautics: The company has signed a contract with the Guyana Defence Force (GDF) and the Guyana Government to supply two Hindustan-228 commuter aircraft, as well as the Manufacturer Recommended List of Spares (MRLS), ground handling and ground support equipment, training, and hand-holding, for a total of MUSD 23.37 (approximately ₹194 Crore).

Rail Vikas Nigam: The state-run railway company has signed a Memorandum of Understanding (MOU) with the Airports Authority of India (AAI) to build a tunnel or underpass connecting the operating area to the AAI residential colony in Kolkata. The project’s projected cost is ₹229.43 Crore.

UltraTech Cement: The business has started up 1 MTPA (million tonnes per year) of brownfield cement capacity in Roorkee, Uttarakhand. With this, the unit’s capacity has been expanded to 2.1 MTPA, bringing India’s total grey cement-producing capacity to 138.39 MTPA.

ICICI Securities: The Securities and Exchange Board of India (SEBI) issued an administrative warning to ICICI Securities following an investigation of the company’s books and records for merchant banking activities in December 2023. The administrative warning letter has no influence on the company’s financial, operational, or other operations.

Dr Reddy’s Laboratories: The pharmaceutical firm has signed a license deal with US-based biopharmaceutical company Pharmazz, Inc. to commercialise Centhaquine in India. Centhaquine, invented by Pharmazz, is a resuscitative drug used to treat hypovolemic shock.

Welspun Corp: Welspun’s affiliate company, East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s top maker of HSAW Pipes, has reached a mutual understanding with Aramco to terminate a contract for SAR 153 million (about ₹339 Crore). EPIC will be unaffected by the contract cancellation. EPIC’s considerable order backlog is mostly related to active gas and water transportation projects.

Lupin: The firm intends to sell its trade generics business in India as a continuing concern to subsidiary Lupin Life Sciences (LLSL) in a slump sale for ₹100-120 Crore. The company will sign a business transfer agreement with LLSL in Q1FY25, with the transaction scheduled to be completed by June 2024.

Union Bank of India: Rajnish Khare has resigned as the bank’s Chief Digital Officer (on a contract basis), effective April 12, 2024. Meanwhile, Anil Kuril has been assigned extra responsibilities as head of the bank’s digitalization section. Anil Kuril now serves as the bank’s Chief General Manager and Chief Technology Officer.

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