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Market Updates

The Markets are expected to open marginally lower today as trend in SGX nifty indicate a negative start for the broader index after Nifty closed 3 points lower at 19.993 on tuesday.

NTPC: 

The power company completed the trail operation of Unit 1 of the 800 MW capacity of Stage I of the Telangana Super Thermal Power Project and consequently included it in its installed capacity. With this, the installed capacity of NTPC and the NTPC Group has become 57,838 MW and 73,824 MW, respectively

IRCTC

The company signed an MoU with NBCC Services for the planning, designing, and execution of interior works for its upcoming office space in Delhi. The cost of the project is Rs 31.4 crore.

Tata Power:  

Subsidiary Tata Power Solar Systems, signed an MoU with the Small Industries Development Bank of India to finance MSMEs for solar adoption.

Mahindra and Mahindra: 

Company has been fined Rs 1,69,949 by the Assistant Commercial Taxes Department, Begumpet Division, Hyderabad for not reversing VAT ITC, as per an exchange filing. It also added that it is hopeful for a favourable outcome at the appellate level.

Avenue Supermarts:

The retailer has opened a new store in Perungudi, Tamil Nadu, taking the total number of stores to 334

Trent:

Booker India, a subsidiary of the company, has acquired approximately 4.95% of the equity share capital of its subsidiary, Fiora Online, from a shareholder. The cost of acquisition is Rs 4.1 crore.

KEC International:

The company secured new orders of Rs 1,012 crore across its various businesses in its civil, transmission and distribution, and cables segments.

Vakrangee

The company will acquire an 8.8% equity stake in Vortex Engineering from the International Finance Corporation. Through this acquisition, Vakrangee will have a cumulative shareholding of 57.3%.

Waaree Renewable Technologies:

The company received a letter of intent for engineering, procurement, and construction services for setting up a solar power project of 52.6 MWp capacity. The project is expected to be completed in FY24.

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