Stock that will see action today: 4 March 2025
Financial services company Wells Fargo has sold ITC’s shares worth Rs 106 crore through an open market transaction. The San Francisco-headquartered Wells Fargo & Company through its affiliate Wells Fargo Emerging Markets Equity CIT offloaded 26.55 lakh shares of Kolkata-based ITC at an average price of Rs 401.60
Indian Energy Exchange (IEX) in a monthly update reported a 9% jump in electricity trading volumes for February 2025, reaching 9,622 million units (MU). This growth was mainly driven by higher demand in key segments. The Day-Ahead Market (DAM) traded 5,369 MU, up 14% year-on-year, while the Real-Time Market (RTM) surged 23% to 2,887 MU.
Godrej Properties has called off a land development agreement with TCM Limited ((formerly known as Travancore Chemical & Manufacturing Co Ltd) for a project in Thrikkakara, Kochi. The agreement, signed in 2008, was officially terminated on March 3, 2025. The company did not disclose the reason for the cancellation. “There is no material impact of the cancellation of the above agreement on financials, operations or other activities of the company,” it added.
ASK Automotive has teamed up with Japan’s Kyushu Yanagawa Seiki Co Ltd (KYSK) to manufacture high-pressure die-cast alloy wheels for two-wheelers. KYSK will provide technical expertise to ensure high-quality production. In return, ASK Automotive will pay an initial royalty and a running royalty as part of the agreement.
Private sector lender RBL Bank has appointed Narendra Agrawal as president and head of branch banking and retail liabilities, and T S Pari as the COO of the bank, according to a statement. Agrawal was earlier associated with Kotak Mahindra Bank as president & national branch banking head, while Pari was the group president-head of retail assets at YES Bank. Agrawal will focus on deposit growth, enhancing customer experience through an omnichannel strategy, and strengthening the business’s contribution to the bank’s long-term plan, RBL Bank said.
Som Distilleries and Breweries Ltd has announced its subsidiary, Woodpecker Greenagri Nutrients Pvt Ltd, is setting up a greenfield project in Khimsepur, Uttar Pradesh. The Rs. 600-crore project will include a brewery, distillery, and other manufacturing facilities The Uttar Pradesh State Industrial Development Authority has allotted 40 acres for the project. The company will commence construction soon after receiving regulatory approval from the State government
Intellect Design Arena Ltd informed the exchanges that its subsidiary Intellect Design Arena Inc, Canada, has completed the transfer of digital banking operations from Central 1 Credit Union. The transition, effective March 3, 2025, includes Central 1’s Forge, MemberDirect, public website, and mobile applications.
Indian Railway Finance Corporation (IRFC) and Indian Railway Catering and Tourism Corporation (IRCTC) will now be a Navratna Central Public Sector Enterprise, Finance Ministry announced on Monday. The status provides more financial autonomy to entities.
Lehar Footwears has received work orders from Tamil Nadu Textbook and Educational Services Corporation for supply and delivery of Socks, Shoes, School Bags and Ankle Boots and Government of Andhra Pradesh Samagra Shiksha for supply of a pair of shoes and two pairs of Socks to the students having total value of all the orders is Rs. 22.01 crores including GST.
