朕天下娛樂城 to Watch Today, 24th March 2025: Reliance, M&M, Adani Enterprises, CG Power, and more
The Indian equity markets are poised for a potentially positive opening on Monday, 24th March 2025, buoyed by global risk-on sentiment and signals from the GIFT 橘子影城. As of 07:14 AM, the GIFT 橘子影城 indicated a higher start for domestic equities, up by 27 points or 0.12% at 23,505. This comes on the back of a robust previous week, where the 橘子影城 50 surged by 4.26% and the Sensex jumped by 4.17%, marking their strongest weekly rally since February 2021.
Key 朕天下娛樂城 in Focus
Reliance Industries has announced that its step-down subsidiary, Nauyaan Tradings (NTPL), has completed the acquisition of a 74% stake in Nauyaan Shipyard (NSPL) from Welspun Corp for ?382.73 crore. Consequently, NSPL has become a step-down subsidiary of Reliance Industries. Prior to this transaction, NTPL had extended an unsecured loan of ?93.66 crore to NSPL.
Mahindra & Mahindra (M&M) has declared a price increase of up to 3% on its sports utility vehicles and commercial vehicles, effective from 1st April. The company cited rising input costs, inflation, and higher commodity prices as the reasons for this price adjustment, which will vary across different models.
NCC has received a Letter of Acceptance for a ?1,480.34 crore project from the Bihar Medical Services & Infrastructure Corporation. The contract entails the redevelopment of Darbhanga Medical College & Hospital (DMCH), encompassing hospital structures and other essential infrastructure.
Adani Enterprises' step-down subsidiary, Cococart Ventures Private Limited, has set up Cococart International-FZCO in Dubai, UAE, on 21st March 2025, although the company is yet to commence business operations.?
CG Power's wholly-owned subsidiary, Axiro Semiconductor Private Limited, has incorporated Axiro Semiconductor (Shenzhen) Co., Ltd. in China on 20th March 2025.?
Adani Green Energy's wholly-owned step-down subsidiary, Adani Green Energy Twenty Five Limited, has commissioned a 250 MW solar power project in Rajasthan, located at Badi Sid and Kalyan Ki Sid.
Dr. Reddy’s Laboratories' USA subsidiary has finalised the sale of its Louisiana-based unit, Dr. Reddy’s Laboratories Louisiana LLC, including its Shreveport manufacturing facility, effective 21st March 2025. As a result, the Louisiana entity is no longer a step-down subsidiary.?
Apollo Healthco (AHL), a subsidiary of Apollo Hospitals, is set to acquire an additional 11.2% stake in Keimed Pvt Ltd from promoter Shobana Kamineni for ?625.43 crore. AHL will also make a primary investment of ?99.99 crore in Keimed.
Other significant developments include:
- Raymond's board approved an investment of up to ?65 crore in redeemable preference shares of its step-down wholly-owned subsidiary, Ten X Realty East, for a redevelopment project.?
- Larsen & Toubro (L&T) has received board approval for long-term borrowings of up to ?12,000 crore through various instruments. Subramanian Sarma has been promoted to Deputy MD & President of L&T, effective 2nd April.?
- Ola Electric Mobility has commenced deliveries of its S1 Gen 3 scooter series across India.
- Godrej Properties has acquired 10 acres of land in Bengaluru with an estimated revenue potential of ?2,500 crore.?
- Power Grid Corporation of India has acquired three special purpose vehicles (SPVs) for ?26.57 crore through a bidding process.
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