Stock that will see action today: 3 March 2025

Coal India has said that non-power sector (NPS) consumers will not have to pay the coal value worth ten days of supply as financial coverage for the dry fuel received via rail transport. “With the waiver of financial coverage, CIL takes an important step towards reducing transactional complexities and fostering an environment that encourages smooth and efficient business operations,” the PSU said in a statement. Meanwhile, Coal India arm Northern Coalfields will soon commence its Rs 24,000-crore rehabilitation and resettlement (R&R) project to relocate from Morwa township in Madhya Pradesh’s Singrauli. In a separate notice to the exchanges, the PSU major recorded a marginal 0.9 per cent decline in coal production in February compared to the year-ago period. The company’s’ coal production stood at 74.1 MT in February this fiscal, down from 74.8 MT in the corresponding month of previous fiscal.

Hyundai Motor India on Saturday said it has received a tax demand notice of Rs 15 crore from GST authorities. The automaker on February 28 received an order from Additional Commissioner, Central GST Department, Tamil Nadu, for the period FY 2020-21 and FY 2021-22 wherein a tax demand has been raised under Section 73 of Central Goods and Service Tax Act, 2017 and Tamil Nadu Goods and Services Tax Act, 2017, the company said.

ACME Solar said it has planned an investment of Rs 17,000 crore on capital expenditure by 2026 with a focus on hybrid and round-the-clock renewable capacities. The company is also evaluating entry in nuclear energy segment, though these plans are at a drawing board level, ACME Solar said in a statement. ACME Solar Holdings plans to invest Rs 17,000 crore by 2026, according to the statement.

Glenmark Pharmaceuticals is recalling close to 15 lakh bottles of a generic medication used in the treatment of attention deficit hyperactivity disorder in the US market, according to the US health regulator. Glenmark Pharmaceuticals Inc, USA, a subsidiary of the Mumbai-based drug maker, is recalling around 14.76 lakh bottles of Atomoxetine Capsules in multiple strengths.

Allied Blenders and Distillers Ltd. (ABD), India’s 3rd largest spirits company, embarks on a new chapter in its premiumization journey with the formation of its subsidiary ABD Maestro Pvt. Ltd. (ABD Maestro), a strategic business venture in collaboration with Powerhouse Ranveer Singh, aimed at redefining India’s super-premium and luxury spirits markets.

The Enforcement Directorate has sent a notice to fintech firm Paytm owner One97 Communications for alleged violation of certain FEMA rules by the company in relation to the acquisition of two subsidiaries, according to exchange filing. Paytm has clarified that the alleged breach pertains to the period when the two companies were not its subsidiaries. One97 Communications (OCL), which owns Paytm brand, informed BSE that it has received FEMA violation notice from the Enforcement Directorate on February 28 for its subsidiaries, Little Internet Private Limited and Nearbuy India Private Limited.

NMDC has registered a 17.8 per cent increase in iron ore production at 4.62 million tonnes (MT) in February. The company had produced 3.92 MT of iron ore in the corresponding month of previous fiscal year, NMDC said in a filing to BSE.

NLC India Ltd (NLCIL) has bagged a contract from SJVN Ltd to develop and operate a 200 MW wind power project. The project was secured through an e-reverse auction at a tariff of Rs 3.74 per kWh. “The project is set to generate 526 MU of clean green power each year offsetting an equivalent amount of greenhouse gas emissions,” a company statement said. The company has a target to achieve 10 GW renewable energy capacity by 2030.

Piramal Enterprises has received a  demand notice of Rs 1,502 crore, including tax, interest and penalties, from the Deputy Commissioner of State Tax, Maharashtra. According to an exchange filing on Friday, the penalty component amounts to Rs 83 crore.

Mahindra Holidays & Resorts India Ltd has received a demand of over Rs 17.5 crore from GST authority in Chennai over an alleged mismatch in turnover and reversal of input tax credit related matter. The company has received a demand order from the Commercial Tax Officer, Anna Salai, Chennai for FY 2020-21 of Rs 17,59,15,319, including interest of Rs 6,12,61,348 and penalty of Rs 1,11,04,906 at the rate of 10 per cent under applicable provisions of the TNGST Act, 2017 & CGST Act, 2017 & IGST Act, 2017, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.

Alpex Solar has announced that it has been awarded a prestigious order for the supply of Solar PV Modules and Solar Cells from the Solar Energy Corporation of India (SECI), valued at Rs 210.71 crore. According to an exchange filing, the company will execute the project in accordance with the terms of the work order.

Dalmia Bharat on Friday announced to invest approximately Rs 3,520 crore in Maharashtra and Karnataka to add 6 MnTPA Cement Capacity. The company, through its subsidiaries, will establish a 3.6 MnTPA (million tonnes per annum) clinker unit and a 3 million tonnes per annum (MnTPA) grinding unit at its existing Belgaum plant in Karnataka.

Tata Communications has successfully completed the divestment of its wholly-owned subsidiary Tata Communications Payment Solutions Limited (TCPSL) to Transaction Solutions International India (TSI), a majority-owned subsidiary of Australian digital payments and financial services provider Findi, according to a release issued on Friday.

The United States Food and Drug Administration (USFDA) conducted an inspection at Unichem Laboratories’ Pithampur API facility from February 24 to February 28. The inspection closed with four observations which were more of procedural changes with none of these related to data integrity. The Company will provide the necessary response on these observations to USFDA within stipulated 15 days. In a separate notice, the company said that its board has approved sale of land admeasuring approx. 3.40 acres and old construction area of approx. 82,220 sq. ft. at Prabhat Estate, Jogeshwari (West), Mumbai, subject to necessary legal due diligence and requisite regulatory approvals.

MOIL has delivered its best-ever February – production of 1.53 lakh tonnes Manganese (Mn) ore and exploratory core drilling of 11,455 meters.

Astral Ltd said that it received an order from the Additional Commissioner of State Tax – Appellate Authority Patna East: Bihar for a total tax of Rs. 1,50,26,454/- along with applicable interest Rs. 1,02,26,226 and Penalty Rs 15,02,645 thereon.

Niva Bupa Health Insurance said that it is in receipt of order(s) passed by Additional Commissioner of State Tax, Patna East, Bihar confirming demand and imposing penalty worth Rs 52.06 lakh and Rs 5.04 lakh, respectively along with interest of Rs33.96 lakh in respect of Financial year 2018-19, 2019-20 and 2020-21.

Krishna Institute of Medical Sciences Limited informed the exchanges that the Regional Director (South-East Region) has confirmed a scheme of amalgamation for the merger of Rajyalakshmi Healthcare Private Limited (Transferor Company), with Sarvejana Healthcare Private Limited (Transferee Company), a material subsidiary of KIMS.