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Buzzing Stocks… with EZ Wealth – September 20, 2021

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”67654″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]As of Sep 20, 10:05 AM

Adani Group and Reliance Group: Atleast 18 bidders – ranging from Mukesh Ambani to Gautam Adani – applied for Rs. 4500cr in PLI; government aims to boost domestic manufacturing of items needs to meet its climate targets; it aims to double renewable power capacity to 450GW by the end of the decade

Bajaj Finance (stock down 0.58%): The consumer financier, which launched its wallet business in July this year, is aiming to onboard 20-25 million wallets onto its fold by March 2023; the company is onboarding 800000 to 1 million new wallets every month, the MD said. He added that they are on path to become a full-service payments player

Cadila Healthcare (stock up 0.22%): Company Gets U.S. FDA approval to market antidepressant pills

Dish TV (stock up 3.12%): The company has sought deferment of the AGM scheduled to be held on September 27, after YES Bank sent notices seeking removal and appointment of certain directors

IDFC (stock down 0.27%): The Board of Directors of IDFC Ltd and IDFC Financial Holding Company Ltd (IDFC FHCL) approved to initiate steps to divest the mutual fund business — IDFC Asset Management Company (IDFC AMC) Ltd. IDFC AMC is the direct subsidiary of IDFC FHCL and indirect subsidiary of IDFC. As on March 31, 2021, IDFC held 99.96 per cent in IDFC AMC

Indian Oil (stock down 1.01%): Efforts are being made at the Barauni refinery in eastern India to restart the crude processing unit after a blow-up incident on Sept. 16 injured 19 people. Startup of operations of remaining process units from the planned maintenance shutdown is proceeding as per schedule

Intellect Design Arena (stock down 0.20%): Announced a strategic partnership with Resurs Bank for a new cloud-based banking platform. Intellect will be implementing its microservices-based digital banking solution IDC and iKredit460 to optimise processes and operations

JSW Steel (stock down 2.67%): JSW Coated and JSW Vallabh Tinplate, the wholly owned subsidiaries of JSW Steel, are increasing capacity from 350,000 tonnes to 620,000 tonnes; additional capacity will go onstream by March 2022

KEC International (stock up 3.08%): The Company has signed a definitive agreement to by 100% equity in Spurs Infrastructure, an Indian EPC firm, for an enterprise value of Rs. 62cr; in the last three years, Spurs Infra has an annual revenue in excess of Rs. 100cr, a profitable track record, technical expertise and experienced manpower

Lupin (stock down 1.63%): Company’s Goa facility had received seven observations from the USFDA; at present five sites of Lupin have warning letters of Official Action Indicated status from USFDA; the Company is however confident of resolving the matter

Shipping Corp (stock up 5.05%): India’s government has approved a plan to form a new unit after demerger. The resulting unit will be a wholly-owned subsidiary of the company

Tata Steel (stock down 4.21%): Tinplate Company of India, a subsidiary of Tata Steel, will put up an additional capacity of 300,000 tonnes at an estimated capex of Rs. 1800cr; at present, the company has a capacity of 379,000 tonnes; expansion is expected to be complete in about three years

TCS (stock up 0.44%): TCS has agreed to invest Rs 690 crore to set up an innovation park in Kochi over an allotted land parcel of 36.84 acres; it would be able to accommodate nearly 10,000 employees

Vodafone Idea (stock up 3.14%): The company claimed to have recorded a peak speed of 3.7 gigabit per second, highest by any operator in India, during 5G trials in Pune

Welspun India (stock down 0.46%): The company said it is looking to invest around Rs. 800cr on capacity expansion of its home textiles and flooring business over the next two years

Wipro (stock up 0.11%): Company has announced setting up a new co-innovation space with Google Cloud. The innovation arena will be based in Bangalore and used to provide in-house technical expertise for cloud addoption and acceleration business transformation for customers[/vc_column_text][vc_column_text]

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