Here is the list of top 10 stocks that will be in focus today
Zee Entertainment: A unit of Sony Group and India’s Zee Entertainment have proposed offering concessions such as pricing discounts to help ease concerns of the country’s antitrust regulator over their merger, which will create a $10-billion TV behemoth, two sources told Reuters. The concessions are a bid to iron out antitrust worries of the Competition Commission of India (CCI), which in an Aug. 3 notice warned the companies of further scrutiny, saying their “humongous market position” would allow them to enjoy “un-paralleled bargaining power” with 92 channels in India’s massive media and entertainment market.
Vedanta: Vedanta Ltd has selected Indian Prime Minister Narendra Modi’s home state of Gujarat for its semiconductor project, two sources told Reuters, the first major step in its $20 billion joint venture with Taiwan’s Foxconn. Vedanta obtained financial and non-financial subsidies including on capital expenditure and cheap electricity from Gujarat to build the semiconductor plants, the first source with knowledge of the matter said.
Adani Transmission: Adani Transmission (ATL) on Monday issued a statement in relation to the arbitration dispute with Reliance Infrastructure Ltd. ATL said that the claims of Reliance Infrastructure against it and its power distribution arm Adani Electricity Mumbai Ltd (AEML) are “afterthoughts and based on untenable positions”. Further, Adani Transmission said that it will present the claims against Reliance Infra in arbitration proceedings.
HDFC Life: United Kingdom-based investment company Abrdn is mulling selling up to 4.3 crore sales representing 2% of HDFC Life Insurance Company’s outstanding shares through a block deal to raise over ₹2,425 crore. Formerly known as Standard Life Aberdeen, the Edinburgh-based firm has offered shares in the price band of ₹564.1 to ₹578.55, which is a discount of up to 2.5% on the scrip’s close on 12 September in the block deal.
Tata Consultancy Services: C&S Wholesale Grocers, Inc, an industry that offers supply chain solutions and wholesale grocery supply in the United States, has selected Tata Consultancy Services to build its new operations platform on Google Cloud, according to reports. This move by the American company aims to reduce its carbon footprint and enhance customer experience.
JSW Steel: JSW Steel on Monday reported a 22% jump in crude steel production in August this year to 16.76 lakh tonne. The private steel major had produced 13.77 lakh tonne in the year-ago month. The production of flat products at 12.01 lakh tonne in the last month was higher than 8.99 lakh tonne in August 2021. Long product volume grew by 25 per cent to 3.75 lakh tonne in the month under review.
Tata Consumer: Tata Consumer Products on Monday said it has entered the health supplements segment with the launch of a plant-based protein powder. Tata GoFit, a health supplement range for women, is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics. Speaking about the new launch, Deepika Bhan, President – Packaged Foods (India), Tata Consumer Products said there has been a growing trend of consumers becoming more fitness conscious in their choices with a heightened focus on their nutrition intake.
Reliance: Reliance Jio Infocomm’s satellite unit has received a letter of intent (LoI) from the Telecom Department for satellite communication services, according to industry sources. The LoI was issued to Jio Satellite Communications Ltd (JSCL) on Monday, sources informed. Sources, meanwhile, said the Department of Telecom (DoT) has granted a Letter of Intent for global mobile personal communication by satellite (GMPCS) services to the company.
Future Lifestyle Fashions: Future Lifestyle Fashions Ltd (FLFL) is seeking the consent of its members for the sale of in-store retail infra-assets, which will be used for repayment of debt and other operational liabilities. The Future group firm is conducting an e-voting, which commences on September 14, 2022, and ends on October 13, 2022, said the postal ballot notice submitted by FLFL before the stock exchanges.
SpiceJet: The Delhi High Court has clarified that there is no stay of investigation in an alleged cheating case against SpiceJet promoter Ajay Singh concerning the transfer of shares of the airline to certain individuals. The clarification came on an order passed by Justice Anoop Kumar Mendiratta on Singh’s anticipatory bail application in the matter. The court stated in its order dated September 8, “As prayed by learned Additional Standing Counsel for the State, it is clarified that there is no stay of investigation.”