Top 10 stocks for today – 29th February 2024

29 Feb 2024 , 08:49 AM

Top 10 stocks for today – 29^th February 2024

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

Reliance Industries: Viacom 18 Media, owned by billionaire Mukesh Ambani, and The Walt Disney Company have inked binding final agreements to create a joint venture (JV) that would integrate Viacom 18 and Star India’s companies. Reliance has pledged to invest ₹11,500 Crore in the joint venture to support its expansion goal. The purchase values the joint venture at ₹70,352 Crore ($8.5 billion) post-money, excluding synergies. Following the completion of this transaction, Reliance will own 16.34% of the joint venture, Viacom 46.82%, and Disney 36.84%.

Coal India: The state-owned coal mining firm has entered into a joint venture agreement (JVA) with BHEL to operate the coal-to-chemicals industry. Initially, they would build a coal-to-2,000-TPD ammonium nitrate plant utilising BHEL’s proprietary PFBG (pressurised fluidised bed gasification) technology. Coal India will maintain a 51% share, while BHEL would possess the remaining 49%.

PB Fintech: The Insurance Regulatory and Development Authority of India (IRDAI) has given a Certificate of Registration to Policybazaar Insurance Brokers (Policybazaar), a fully owned subsidiary of PB Fintech, to operate as a composite insurance broker beginning February 28. With this, Policybazaar’s categorization has been changed from Direct Insurance Broker (Life & General) to Composite Insurance Broker.

NTPC: NTPC Green Energy, NTPC’s fully owned subsidiary, has inked a joint venture agreement with Maharashtra State Power Generation Company (MAHAGENCO) to create renewable energy parks in Maharashtra. The combined company will build GW-scale renewable energy farms in phases.

ICICI Securities: The Securities and Exchange Board of India (SEBI) issued an administrative warning to ICICI Securities. The warning was given in connection with an assessment of the company’s merchant banking books and records. ICICI Securities stated that the administrative warning will have no influence on the company’s financial, operational, or other activities.

JSW Steel: On February 27, the business established a new wholly owned subsidiary, JSW Green Steel, in Mumbai.

Oil India: The company’s board will meet on March 8 to evaluate the second interim dividend for fiscal year 2023-24, if any.

Jubilant FoodWorks: On February 28, the Financial Conduct Authority stopped trading in the shares of DP Eurasia NV, the company’s step-down subsidiary, on the London Stock Exchange.

BGR Energy Systems: Promoter Sasikala Raghupathy sold an additional 17,73,243 equity shares (or 2.46% of paid-up equity) in BGR through open market transactions at an average price of ₹55.81 per share. Sasikala has sold a total of 1,42,48,504 equity shares (equal to 19.74% of paid-up equity) since February 21, compared to a shareholding of 1,73,14,450 equity shares (23.99%) in December 2023. However, Anita Jaideep Sampat purchased 4 lakh shares of BGR at an average price of ₹54.85 a share, while Malti Narendra Sampat purchased 4 lakh shares at an average price of ₹54.87.

Brightcom Group: SEBI, the capital markets regulator, has issued a confirmatory ruling in the Brightcom Group (BGL) case following a thorough assessment of anomalies discovered in BGL’s preferential allotments during the fiscal years 2019-20 and 2020-21. The regulator has prohibited Suresh Kumar Reddy, the promoter-turned-CMD, from buying, selling, or dealing in securities, either directly or indirectly. Furthermore, the regulator has reversed the orders made against Shankar Sharma, Kishan Prakash, Ishan Prakash, and Shivkrishna Harakchand Damani.

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