Trending Stocks: Spicejet, Tata Power, Adani Ent, and others in news today

Adani Enterprises

Andhra Pradesh has cancelled bids made for two separate tenders by Adani Enterprises to supply imported coal as the prices quoted were too high, reported Reuters.

SpiceJet 

The company has settled its commercial dispute worth around $ 24 million with Swiss financial services company Credit Suisse, with the low-cost airline agreeing to pay the settlement amount over a mutually agreed period of time.

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TVS Motor Company

Subsidiary TVS Motor (Singapore) Pte. Limited has acquired a 70% stake in United Kingdom-based EBCO, for GBP 1,163,070. EBCO provides smart connected mobility solutions through a pipeline of e-bikes across the city and mountain biking segments. The company has tie-ups with most major dealers across the United Kingdom and is the exclusive distributor of Corratec e-bikes in the UK. In addition, TVS Motor registers sales of 3.07 lakh units in March 2022, which fell compared to 3.22 lakh units sold in the same month last year.

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Hero MotoCorp 

The company sold 4.50 lakh units of motorcycles and scooters in March 2022, declining sharply compared to 5.76 lakh units sold in the corresponding month last year. In the financial year (FY22), sales dropped to 49.44 lakh units, compared to 57.91 lakh units sold in the previous year.

Tata Power 

The company has received approval from the Mumbai bench of the National Company Law Tribunal (NCLT) vide its order dated 31 March 2022 for the Composite Scheme of Arrangement between Coastal Gujarat Power (CGPL) and Tata Power and their respective shareholders.

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GOCL Corporation 

The company has received a notice of demand of Rs 45.72 crore from the Income Tax Department. This notice is in connection with Joint Development Agreement for the land at Kukatpally, Hyderabad, pertaining to the assessment year 2013-14. But as per the company, aforesaid notice is not tenable in law.

Housing Development Finance Corporation (HDFC) 

The bank has reported a 12% growth in individual loans at Rs 8,367 crore for the fourth quarter ended March 31.

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Karnataka Bank 

The bank clocked a 6.27 % growth in core deposits at Rs 80,385 crore for the year ended March 2022 compared to the previous financial year, and gross advances during the same period grew by 9.5 % to Rs 57,726 crore. The share of CASA to total deposits stands increased at 32.97% in March 2022, against 31.5 % at the end of March 2021. The private sector lender expects a 12 % growth in deposits and about 17 % in gross advances for FY23.

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Dr Reddy Laboratories 

The company has entered into an agreement with Novartis AG to acquire the cardiovascular brand Cidmus in India.

JSW Energy 

Subsidiary JSW Neo Energy (JSWNEL) has entered into a Memorandum of Understanding with the Government of Chhattisgarh for setting up a 1,000 MW capacity hydro pumped storage project (Hasdev Bango Pumped Storage Project) in Chhattisgarh.

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Mahindra & Mahindra (M&M) 

The company’s total sales increased by 35% to 54,643 units in March as compared with the year-ago period.

Alkem Laboratories 

ISP Chile (Public Health Institute of Chile) had conducted an inspection at the company’s manufacturing facility at Daman, India from March 28 to April 1, 2022. At the end of the inspection, no observations critical to good manufacturing practices were detected.

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Lupin 

The company has signed a Definitive Agreement with Anglo-French Drugs & Industries for acquiring a portfolio of brands. This will strengthen the company’s presence in vitamins, minerals & supplements and CNS segments.

NHPC

NHPC has been honoured as ‘Winner’ in the category of ‘Best Implementation of Dam Rehabilitation Project’ at the Water Digest Water Awards, 2021-2022 held in New Delhi.