Stock that will see action today: 19 March 2025
Steel stocks: The Directorate General of Trade Remedies (DGTR) has recommended the imposition of a provisional safeguard duty on Flat Steel Products. As per an overnight notification, the DGTR has proposed the imposition of a provisional 12% safeguard duty on Flat Steel products ad valorem for 200 days, pending final investigation. The industry had been demanding the imposition of a 25 per cent safeguard duty.
HUDCO is planning to “become a zero NPA (non performing asset) company”, that is it will have no bad loans in its books , over the next 18-odd months, following resolution of about ₹1,200-crore odd worth projects at the NCLT and about ₹400-crore at Debt Recovery Tribunal. The company is seeking fund raise from Japan, equalling $500 million (over ₹43,000 crore), at a lower cost of over 100 basis points, as part of its growth strategy, Sanjay Kulshrestha, Chairman and Managing Director, HUDCO, told businessline.
Vedanta-owned Hindustan Zinc – in which the India’s Mines Ministry is a minority shareholder – has been fined ₹ 5,42,800, each by the NSE and BSE for not having the requisite number of independent directors on Board.
JK Lakshmi Cement Ltd on Tuesday said it has received a demand of Rs 45.6 crore from income tax authority for the assessment year 2022-23. The company has received an assessment order on March 18, 2025, JK Lakshmi Cement said in a regulatory filing.”In the said order, the income tax officer has made certain additions to the income of the company as declared in the return of income, resulting in an aggregate demand of Rs 4,559.60 lakh,” it said.
Vodafone Idea is “in conversation” with satcom players to explore potential partneships, a senior company official said. The telco believes that use cases for satellite communications would be in areas where traditional connectivity infrastructure, such as fibre optic cables or cell towers is lacking. This could include remote rural regions or underserved urban areas, Jagbir Singh, Chief Technology Officer (CTO) of Vodafone Idea told PTI.
Bajaj Auto has informed the exchanges that Rajiv Bajaj’s current five-year term as MD and CEO expires on March 31, 2025. Based upon the board member’s recommendations, Bajaj has been reappointed, subject to the shareholders’ approval. The two and three-wheeler major’s board also approved the reappointment of Abhinav Bindra as the non-executive independent director for a second term of five consecutive years with effect from May 20, 2025.
GR Infraprojects Ltd has been awarded a letter of acceptance (LoA) from National Highways Authority of India (NHAI) for a highway project worth ₹4,262.78 crore. With the construction and improvement of the Agra-Gwalior greenfield road in Uttar Pradesh, Rajasthan and Madhya Pradesh, the project is set to facilitate inter-state connectivity.
IndusInd International Holdings Ltd (IIHL) has completed the transaction to acquire debt-ridden Reliance Capital (RCAP) by transferring the entire bid amount to lenders, IIHL chairman Ashok Hinduja said on Tuesday. The management transfer is likely to take place on Wednesday. “The transaction from our side is over. As we are speaking, money is moving from one escrow to another,” Hinduja said while addressing the media here.
Zydus Lifesciences Ltd on Tuesday said it has received final approval from the US health regulator to manufacture a generic version of Apalutamide tablets used in the treatment of prostate cancer. The approval by the US Food and Drug Administration (USFDA) is to manufacture Apalutamide tablets of 60 mg strength, Zydus Lifesciences said in a regulatory filing.
Nazara Technologies has acquired further 18,330 equity shares of Rs 1 each, representing 8.97 per cent of the equity share capital of Absolute, from the Sellers against payment of sale consideration of Rs 69.17 crore. Pursuant to the acquisition, the shareholding of Nazara Technologies in Absolute has been increased from 91.03 per cent to 100 per cent and absolute has become a wholly owned subsidiary of the company.
