Watch out for these stocks: Adani Green Energy, AU SFB, Swiggy, Airtel, JSW Steel, IRCON International, Tech Mahindra, Vodafone Idea, PN Gadgil, Apollo Micro Systems, BSE, RR Kabel

Adani Green Energy arm Adani Green Energy Sixty Nine has inked a pact to supply 400 MW of solar power to Uttar Pradesh Power Corporation Ltd (UPPCL) from its project in Rajasthan. The PPA (power purchase agreement) was executed on Saturday, according to a regulatory filing.

According to market buzz, True North, Indium IV (Mauritius), and Silver Leaf Oak are likely to sell 92.3 lakh shares (1.24% stake of AU Small Finance Bank) via block deals. The floor price is fixed at ₹650 a share, the report added.

Bharti Airtel and Tata Group have terminated discussions for a merger of their direct-to-home (DTH) business, according to a Bombay Stock Exchange (BSE) filing on Saturday. In the BSE filing, Airtel said this was because the two sides were unable to find a satisfactory resolution. “This is in reference to our intimation dated February 26, 2025, wherein the company informed that it is in bilateral discussions with TATA Group to explore a potential combination of TATA Group’s Direct To Home (‘DTH’) business housed under Tata Play Ltd with Bharti Telemedia Ltd, a subsidiary of the company,” it said.

Azad Engineering has signed a long-term supply agreement with GE Steam Power GMBH acting through its, GE Vernova power business based in Baden, Switzerland for Manufacture and Supply of highly engineered and complex rotating and stationary Airfoils for advanced nuclear, industrial and thermal power industries, meeting GE Vernova global demand in the power generation and essential industries. This current phase of the contract valued at approximately $53.5 million (approximately Rs 452.48 crore) is a robust step towards cementing our everlasting strategic relationship with GE Steam Power GMBH.

Markets regulator SEBI has slapped penalties totalling Rs 58.50 crore on four Seya Industries’ senior executives, including promoter and Chairperson Ashok Rajani and his son Amrit Rajani, for alleged siphoning of funds and manipulation of financial statements. The regulator imposed a fine of Rs 28 crore each on Ashok Ghanshyamdas Rajani and Amrit Rajani (Chief Financial Officer of Seya), Rs 2 crore on Asit Kumar Bhowmik and Rs 50 lakh on Sivaprasada Rao Buddi, Sebi said in the final order passed on Friday.

JSW Steel has said the Rs 702-crore demand raised by the deputy director of mines for an alleged drop in grade of production and violation of the mining plan in Odisha has been set aside by the revisionary authority. The case relates to alleged violations at the company’s iron ore mining operations in Narayanposhi, Jajang, Nuagaon, and Gonua mines, including claims of a drop in grade of production, deviation from the approved mining plan, and use of a higher mesh size during screening. Meanwhile, the Sajjan Jindal-led steel major may face challenges in meeting its expansion target and maintaining revenue guidance after the Supreme Court judgement that rejected its resolution plan for Bhushan Steel and Power Ltd (BPSL). The Supreme Court on Friday set aside a resolution plan submitted by JSW Steel for Bhushan Steel and Power Limited (BSPL), holding it illegal and in violation of the Insolvency and Bankruptcy Code (IBC).

IRCON International has received a letter of acceptance from North Eastern Electric Power Corporation Limited (NEEPCO) for a ₹458.14-crore civil works contract related to the Tato-I Hydro Electric project in Arunachal Pradesh

Tech Mahindra on Friday said its wholly-owned subsidiary, Tech Mahindra London Ltd (TMLL), has entered into a definitive agreement to acquire Mahindra Racing UK Ltd (MRUK) from Mahindra Overseas Investment Company (Mauritius) Ltd (MOICML), a wholly-owned subsidiary of Mahindra & Mahindra Ltd (M&M). This deal, executed through a share purchase agreement, involves TMLL acquiring 100 per cent shareholding in MRUK for a cash consideration of GBP 1.2 million (approximately ₹13.5 crore).

Vodafone Idea on Friday said its board has approved an amendment in shareholders’ agreement to enable promoters Aditya Birla Group and Vodafone Group to retain governance and management rights in the company notwithstanding the increased government’s stake at 48.99 per cent. The company will convene an extraordinary general meeting on June 3 to seek shareholder’s nod for the same, according to a regulatory filing.

BL Kashyap and Sons Ltd has secured an order worth ₹510 crore from Fidatocity Homes Pvt Ltd for Construction of Residential Group Housing Project with approx. built up area of 28.30 lakhs sq ft. The order has to be executed within 33 months.

P N Gadgil Jewellers Ltd has recorded its highest-ever single day festive sales of ₹139.53 crore on the occasion of Akshaya Tritiya, reflecting a growth of approximately 35% over the previous year’s revenue of ₹103.26 crore. In value terms, gold segment revenue grew by 34% year-over-year, while the Diamond & Silver grew by 23% and 114% respectively.

BSE Limited has announced the execution of a Share Purchase Agreement (SPA) with AV Financial Experts Network Pvt Ltd for the divestment of its entire 100 per cent stake in its wholly-owned subsidiary, BSE Institute Ltd (BIL). However, the execution of this SPA is subject to the fulfilment of certain pre-closing obligations. This latest development follows BSE’s previous announcements made on May 8, 2024, and November 12, 2024.

Apollo Micro Systems’ subsidiary Apollo Defence Industries has executed a share purchase agreement for the acquisition of 100 per cent equity shareholding of IDL Explosives from GOCL Corportation. “The cost of acquisition of the entire equity share capital of IDL Explosives Ltd is Rs 107 crore subject to adjustments in accordance with the terms of the agreement. 

Swiggy has said it is betting big on its 10-minute delivery offering, ‘Bolt’. Swiggy announced that Bolt has now expanded to over 500 cities nationwide, with a network of more than 45,000 restaurant brands offering the service. In a statement, Swiggy added that in less than six months since launch, more than one in every ten food delivery orders is now fulfilled through Bolt.

Global investment firm Carlyle Group on Friday exited PNB Housing Finance by selling its entire 10.44 per cent stake for ₹2,712 crore through open market transactions on the BSE and the National Stock Exchange. The US-based Carlyle group, through its affiliate Quality Investment Holdings PCC, sold more than 2.71 crore shares at an average price of ₹1,000.20. Meanwhile, Nippon India Mutual Fund (MF), Kotak Mahindra MF, Nomura Funds Ireland, and Osaka, Japan-based Daiwa House Industry, among others, were the buyers of PNB Housing Finance’s shares on the BSE. On the NSE, Societe Generale, Goldman Sachs, Morgan Stanley, Canara Robeco MF, HDFC Bank, Citigroup Global Markets Mauritius, Kotak Mahindra Life Insurance, Billionaire Azim Premji’s investment arm Premji Invest, and SBI Life Insurance were the buyers of shares of PNB Housing Finance’s shares. Singapore-based Aurigin Capital, Cohesion Investments and Madhusudan Kela’s Cohesion MK Best Ideas Sub-Trust, Norway’s Pension Fund Global and sovereign wealth fund of the Kingdom of Saudi Arabia Public Investment Fund were the other entities who picked up the shares of housing finance company on the exchange.

The board of RR Kabel has approved an expansion of their manufacturing capacities for Wires and Cables. This expansion will occur at two locations: the existing unit at Waghodia and the upcoming new unit at Silvassa. The decision was made to cater to the increasing demand for the company’s products. At the Waghodia location, RR Kabel plans to add a capacity of approximately 36,000 tonnes per annum for both Wires and Cables. This expansion is projected to be completed in a phased manner by March 2028. The estimated investment required for this capacity addition is approximately Rs 1,050 Crore. The funding for this expansion will come from internal accruals and/or debt.

Shilpa Biologics, subsidiary of Shilpa Medicare, has received European GMP certification for its Dharwad plant in Karnataka for manufacturing test batches, based on a recent inspection. The inspection was conducted between February 18–20 by the competent authority of Austria., it said in a notice to the exchanges.

Concord Biotech

Concord Biotech Ltd has informed the exchanges that the US Food and Drug Administration has issued Form 483 with four observations for the company’s API facility in Dholka. The US health regulator inspected the facility between April 28 and May 2. These observations are procedural in nature and none are related to data integrity, the notice said..

Results calendar: M&M, Indian Hotels, Coforge, CAMS, OneSource Specility Pharma, DCM Shriram, Capri Global, J&K Bank, CCL Products, Epigral, Ethos, Cigniti Technologies, Jash Engg, Kalyani Steels, Prataap Snacks, Bombay Dyeing, Hind Rectifiers, Unicommerce Solutions, Zee Media Corp, GHCL Textiles, DMCC, Specility Chemicals, SIL Investments, Entertainment, Network India, Baheti Recycling, Sunshield Chemicals, Stovec Inds and Vinyl Chemicals.

Published on May 5, 2025