Stocks Under Focus: 2 Tata Cos, Adani Enterprises, Arvind SmartSpaces & More

  • Stock Market News
Stocks Under Focus: 2 Tata Cos, Adani Enterprises, Arvind SmartSpaces & More
Credit: © Reuters.

By Malvika Gurung -- Adani Enterprises (NS: ADEL ): The port-to-power conglomerate’s media arm AMG Media Networks will acquire a 29.18% stake in the media channel New Delhi Television Ltd (NS: NDTV ) and launch an open offer as required by SEBI to buy another 26% from shareholders.

Tata Motors (NS: TAMO ), Tata Power (NS: TTPW ): In a significant move towards expanding its renewable energy portfolio, the domestic automaker has signed a PPA with Tata Power to build a 7.25 Mwp onsite solar project at its vehicle manufacturing unit in Jamshedpur.

Hindustan Petroleum (NS: HPCL ): The state-owned refiner has begun its first cow dung-to-compressed biogas project at Sanchore, Rajasthan, under the GOBAR-Dhan scheme, and will make use of 100 tonnes cow dung per day for producing biogas, which will be used as automotive fuel.

Chennai Petroleum Corporation (NS: CHPC ): The Indian Oil Corp (NS: IOC )L subsidiary has entered into a JV with its parent company and others for setting up a 9 MTPA refinery in Tamil Nadu (NS: TNNP ) at a consideration of Rs 315.8 billion.

Devyani International (NS: DEVY ): Dunearn Investments based in Mauritius has offloaded 2,63,29,516 shares of the quick-service restaurants chain major, translating to a 2.18% stake in it at an average price of Rs 183.1 apiece for Rs 482 crore.

Arvind Smartspaces (NS: ARVD ): The real estate company and HDFC (NS: HDFC ) Capital Affordable Real Estate Fund will invest in subsidiary Arvind SmartHomes, Rs 300 crore and Rs 600 crore, respectively.

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