Stocks in Focus on Jul 8: Vedanta, Axis Bank, Tata Power, MMTC & More

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Stocks in Focus on Jul 8: Vedanta, Axis Bank, Tata Power, MMTC & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Vedanta (NS: VDAN ): The mining major will fully acquire the debt-ridden 1200MW power plant, Athena Chhattisgarh Power for nearly Rs 565 crore, and the transaction will take place in cash.

Tata Power (NS: TTPW ): The power generation company plans to invest over Rs 75,000 crore in renewables over the next 5 years, along with an electricity generation capacity of 30 GW in the same period with over 50% contributed from clean energy sources.

Bank of Baroda (NS: BOB ): The public sector lender has plans to issue long-term bonds for fundraising of about Rs 5,000 crore to finance infrastructure and affordable housing.

Axis Bank (NS: AXBK ): The private sector lender has signed an MoU with the Indian Air Force for managing the salary accounts of defense personnel.

Kalpataru Power (NS: KAPT ) Transmission: The company has completely acquired a remaining 15% stake in the Swedish EPC company Linjemontage i Grastrop AB for $11.5 million or about Rs 91 crore.

Shriram-City Union Finance (NS: SHCU ): The leading NBFC has received approval from equity shareholders and secured and unsecured creditors for a merger with Shriram Transport (NS: SRTR ) Finance Company.

MMTC (NS: MMTC ): The country’s largest public-sector trading body will release its earnings for the June 2022 quarter on Friday.

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