Top stocks in focus: Vedanta, Nuvoco Vistas, Sterlite Tech, Ruchi Soya, NCC

1 Apr 2022 , 07:45 AM

Vedanta: Billionaire Anil Agarwal-owned company has entered into certain long term power security agreements for green and renewable energy (RE) power for Hindustan Zinc, Bharat Aluminum Company and Vedanta (Jharsuguda Aluminium Operations) via captive power projects. These projects will be created through dedicated special purpose vehicle (SPV) for each entity.

Nuvoco Vistas Corporation: The company has made timely payment of redemption amount and interest for its non-convertible debentures of Rs400 crore.

Sterlite Technologies: The company has signed the definitive agreement to sell its 64.98% stake in Maharashtra Transmission Communication Infrastructure (MTCIL). Total consideration of Rs43 crore agreed to be received in multiple tranches.

Ruchi Soya Industries: The board has approved the issue price at Rs650 per equity share for its follow-on public offer.

NCC: The company along with other shareholders of NCC Vizag Urban Infrastructure (NCCVUL) has entered into a Share Purchase Agreement with GRPL Housing Private Limited (Gardencity Realty Group, Bangaluru) to sell their entire shareholding in NCCVUL to GRPL.

HG Infra Engineering: Subsidiary Gurgaon Sohna Highway Private Limited has received the provisional certificate for the project in Haryana.

HDFC Asset Management Company: Life Insurance Corporation of India acquired 2.02 percent stake in the company via open market transactions. With this, its shareholding in the company stands at 7.02%, up from 5% earlier.