Stock that will see action today: 16 April 2025

Reliance Industries, global energy giant BP and state-owned ONGC, which for the first time ever teamed together for any venture, won a Gujarat offshore oil block in the latest bid round that saw ONGC walk away with most areas and Vedanta winning seven. The consortia of Reliance, BP and ONGC won the GS-OSHP-2022/2 block that was offered under the ninth bid round of the Open Acreage Licensing Policy (OALP-IX).

The Competition Commission of India (CCI) on Tuesday cleared the proposed merger of Aster DM Healthcare and Quality Care India, and the merged healthcare entity will be named Aster DM Quality Care. Aster is a healthcare service provider, operating in India through 19 hospitals. It is a part of the Aster Group. “The proposed transaction includes the proposed merger of Quality Care India Ltd (QCIL) into Aster DM Healthcare Ltd (Aster) by way of a scheme of amalgamation, post which Aster will be renamed as Aster DM Quality Care Ltd,” CCI said in a release.

Capital markets regulator SEBI on Tuesday barred Gensol Engineering and promoters — Anmol Singh Jaggi and Puneet Singh Jaggi — from the securities markets till further orders in a fund diversion and governance lapses case. The regulator has also debarred Anmol and Puneet Singh Jaggi from holding the position of a director or key managerial personnel in Gensol until further orders. Further, the markets watchdog directed Gensol Engineering Ltd (GEL) to put on hold the stock split announced by it.

JSW Steel plans to invest Rs 50,000-60,000 crore in putting up a 10 million tonnes per annum green steel plant at Salav in Maharashtra and this plant will cater to Europe which is in the process of imposing Carbon Border Adjustment Mechanism Sajjan Jindal, Chairman, JSW Group said the investment in the green plant will be made over 3-4 years and cater to the European Union markets.

The external agency appointed by IndusInd Bank has confirmed that discrepancies in its derivatives portfolio, and estimated of a ‘negative impact’ of ₹1,979 crore on the bank’s financials as on June 30, 2024. The bank had appointed PwC to estimate the overall loss, said sources. Based on the report, the bank has assessed an adverse impact (on a post-tax basis) of 2.27 per cent to the bank’s net worth as of December 2024 on account of these discrepancies,” it said. The bank’s net worth stood at ₹65,102 crore as of December 2024.

Indraprastha Gas Ltd (IGL) faced a 20 per cent reduction in domestic gas allocation, from April 16. This reduction is expected to have a significant impact on IGL’s profitability. The company is exploring various options to address the issue, including exploring alternative gas sourcing.

Mahanagar Gas has also said that the allocation of Administrative Price Mechanism (APM) natural gas to the company will be reduced by approximately 18 per cent starting April 16. The revised allocation pertains to the Domestic PNG and CNG (Transport) segments, as per guidelines from the Ministry of Petroleum and Natural Gas dated August 10, 2022. To compensate for the reduction, the shortfall is being met with New Well/Well Intervention Gas (NWG), which carries a higher cost compared to APM gas. As a result, the company stated that the shift in gas sourcing is expected to adversely impact its profitability.

Adani Total Gas will be in focus as GAIL India has slashed its allocation of APM-priced domestic gas by 15% from April 16. 

Swiggy has partnered with the Ministry of Labour & Employment to promote job creation in the gig and logistics sectors. The company plans to generate over 12 lakh employment opportunities in the next 2–3 years. These jobs will be listed on the government’s National Career Service (NCS) portal.

Published on April 16, 2025