Stock that will see action today: 24 January 2025

Kotak Mahindra Bank has concluded a deal to purchase a personal loan portfolio of Rs 3,330 crore from Standard Chartered Bank. It may be recalled that KMB had entered into a definitive agreement to acquire the ₹4,100-crore personal loan book of Standard Chartered Bank, India, subject to regulatory approval.

Patanjali Foods Ltd on Thursday said food regulator FSSAI has directed the company to recall a specified batch of packed red chilli powder due to non-conformity with food safety norms. The Food Safety and Standards Authority of India (FSSAI) issued an order in this regard on January 13, the company said in a regulatory filing.

NHPC has formed a joint venture with Andhra Pradesh Power Generation Corporation Ltd (APGENCO) to develop renewable energy projects. The new entity APGENCO NHPC Green Energy has been incorporated on Janauary 23.

The board of Bank of India (BoI) has approved ₹5,000 crore fund raising through infrastructure bonds. Long Term Infra Bonds to the tune of ₹5,000 crore would be raised during the fourth quarter of FY25, BoI said in a regulatory filing.

The board of IDBI Bank has approved the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer of the bank for three years with effect from March 19, 2025. This is as per RBI’s approval received in this regard.

 Sharma has been helming the Bank since October 10, 2018. The re-appointment comes in the backdrop of the Bank’s promoter – Life Insurance Corporation of India (49.24 per cent stake) – and second largest shareholder – Government of India (45.48 per cent) starting the process of disinvesting their stake in the Bbank in October 2022.

VST Industries informed the exchanges that Central GST authorities, Hyderabad zone initiated an inspection at the offices & factory premise of the Company in the state of Telangana. The process is on-going and the Company is co-operating fully in providing data and clarifications as per request placed. The business operations of the Company continue as usual and have not been impacted due to the inspection.

Central 1 Credit Union (Central 1) and Intellect Design Arena Ltd. (Intellect) have announced the signing of an agreement in which Intellect will assume responsibility for Central 1’s digital banking operations. This follows Central 1’s decision to wind down its digital banking offerings in October 2024.

The board of IREDA has approved to raise Rs 5,000 crore via QIP, subject to shareholder and regulatory clearances.

Adani Wilmar has marked a significant milestone with the commencement of operations at its integrated food processing plant in Gohana, Sonepat, Haryana. The inauguration was celebrated with the first dispatch of 100 tonnes of rice. This food complex is one of the largest in the country built with a capital outlay of ₹1,298 crore coming from IPO proceeds. The plant is poised to become a major economic catalyst for the region, with projections to generate 2000 jobs through direct and indirect employment.

TAC Security Inc., a wholly owned US-based subsidiary of TAC Infosec, has proposed to incorporate a wholly owned subsidiary – Vulman Ltd in the United Kingdom to deliver comprehensive cybersecurity solutions.

The board of directors of PSU Bharat Petroleum Corporation Limited (BPCL) has approved to submit a development plan for the Nunukan block’s oil and gas reserves in Indonesia. The project will be executed through its subsidiary, Bharat PetroResources Limited (BPRL). A step-down subsidiary, BPRL Ventures Indonesia BV, holds a 16.23% stake in the block, with Pertamina Hulu Energi Nunukan Inc leading as the operator.

Jyoti Structures has received a notification of award for a project worth Rs 741.28 crore from PowerGrid Corporation of India. The project involves the design, detailing, testing, supply of towers, and all line materials, as well as the commissioning of Package 01 of the ± 800 kV HVDC Bipole Line between KPS2 (HVDC) and Nagpur (HVDC) on a total turnkey basis.

Bondada Engineering informed the exchanges that Bondada Raghavendra Rao, on behalf of the Bondada Group, has announced an MoU with the Assam government for establishing a hybrid renewable energy plant in Assam. The project, which aims to invest in hybrid projects under the UNNATI Scheme, is envisioned to be a 100 MW facility integrated with solar and wind power. The approximate investment for this project is set at Rs 450 crore

Results Calendar:  JSW Steel, Hindustan Petroleum Corporation, Bank of India, InterGlobe Aviation, Godrej Consumer Products, DLF, AU Small Finance Bank, Aditya Birla Money, Bharat Gear, CreditAccess, DAM Capital Advisors, DCB Bank, Fedbank Financial Services, Godrej Consumer Products, Granules India, Intellect Design Arena, Jindal Saw, Laurus Labs, NIIT, Omax Auto, Orient Cement, Pondy Oxide, RPG Life, Saksen, Shriram Finance, Solara Active Pharma Sciences, Supriya Lifescience, Seven, Torrent Pharmaceuticals, Trident, TTK Healthcare and Ugro Capita