Stocks that will see action today: January 27, 2025

The Joint Commissioner, Central Tax, Pune-II Commissionerate, has slapped an Order, including GST demand, interest amount liability and penalty, aggregating ₹863.15 crore on Bajaj Finance. The non-banking finance company, in an exchange filing, said the Order includes a GST demand of ₹341.28 crore, interest amount liability till the date of the order of ₹180.59 crore and penalty of ₹341.28 crore.

Florida-baed investor Digvijay Laxhamsingh Gaekwad has expressed his intent to launch a competing offer in a letter to the SEBI Chairperson dated January 24, according to a stock exchange filing by REL. Burman family acquirer entities (four of them)  had already acquired around 25 per cent stake from the market and is now the single largest shareholder in REL.  In the letter to SEBI Chairperson, Gaekwad has said that Danny Gaekwad Developments & Investments Florida was willing to acquire 26 per cent of the outstanding share capital of REL. Recently, the independent directors of Religare Enterprises had advised public shareholders to note that the offer price of ₹235 per share in the Burman family’s open offer to acquire additional 26 per cent in the financial services company is low, and that they should “carefully evaluate” their options. Gaekwad has in the letter contended that its competing offer price of ₹275 would provide a fair and reasonable exit opportunity to public shareholders.

Private sector lender YES Bank has posted an over two-fold year-on-year (y-o-y) and a 11 per cent quarter-on-quarter (q-o-q) rise in net profit for the quarter ended December at ₹612 crore, led by higher total income and lower provisions. During Q3 FY25, the bank’s net interest income (NII) rose 10 per cent y-o-y to ₹2,224 crore, while ‘other income’ rose 27 per cent y-o-y to ₹1,512 crore. Net interest margin (NIM), a key profitability indicator, was stable at 2.4 per cent.

Private sector lender ICICI Bank has reported a 15 per cent year-on-year (y-o-y) rise in net profit for the quarter ended December 31 at ₹11,792 crore, largely led by stable core income. The bank’s net interest income (NII), or the difference between interest earned and expended, rose 9 per cent y-o-y to ₹20,371 crore, while non-interest income grew 12 per cent y-o-y to ₹6,697 crore. The net interest margin moderated 2 basis points (bps) sequentially to 4.25 per cent in Q3.

NTPC has posted a marginal dip in its consolidated net profit to ₹5,169.69 crore for the October-December quarter, compared to the year-ago period due to higher tax expenses and adjustments. The company had a consolidated net profit of Rs 5,208.87 crore in the quarter ended on December 31, 2023, a BSE filing showed. Total income rose to ₹45,597.95 crore in the third quarter from ₹43,574.65 crore in the same period a year ago.

Ceigall India has bagged a contract for the development of the 25.24-km, six-lane greenfield southern Ludhiana Bypass. The company in a statement said it has emerged as the lowest bidder for the development of the Bypass, starting near Rajgarh village to the Delhi-Katra Expressway (NE-5) near Ballowal village. Ceigall India, which recently listed on the exchanges, said its winning bid for the National Highways Authority of India (NHAI) is ₹923 crore.

Ezz LCV, the exclusive distributor of TVS Motor Company (TVSM) in Egypt, has launched a state-of-the-art assembly line in Giza, advancing its plan to localise the production of TVS vehicles. Marking five years of partnership with TVSM, the $6.5 million (360 million EGP) investment aims to strengthen Egypt’s two-wheeler market by achieving an annual production capacity of 100,000 units, according to a company statement. The new assembly line will focus on assembling popular TVS Motor models such as the TVS Apache RTR Series, TVS HLX Series, and TVS XL 100. This initiative is expected to enhance delivery times, support Ezz LCV’s extensive dealer network, and provide motorcycles tailored to local market preferences.

SBI Mutual Fund has picked up an additional 3.8 per cent stake in auto components maker Happy Forgings for Rs 341 crore through an open market transaction at an average price of Rs 950 apiece.

Adani Wilmar Ltd has commenced operation of its food processing plant at Sonepat, Haryana, established with an investment of nearly Rs 1,300 crore. In a regulatory filing on Thursday, Adani Wilmar said the company has commenced operations at its integrated food processing plant in Gohana, district Sonepat. 

BSE-listed DroneAcharya Aerial Innovations has signed a term sheet for a strategic merger with AVPL International. The financial terms of the deal were not disclosed. A joint release announcing the strategic merger said the move marks a significant step towards strengthening India’s position as a global leader in drone technology and innovation

LTIMindtree on Friday announced the appointment of Venu Lambu as the CEO (Designate) and Whole Time Director with immediate effect. He will take the CEO chair from Debashis Chatterjee, whose tenure ends in December 2025. Lambu will work closely with Chatterjee over the coming months to ensure a smooth and seamless transition, a company statement said. Based in London, he was President and Executive Director of Mindtree until it merged with LTI. He joined Randstad Digital as CEO, the $3-billion digital arm of Randstad, in January 2023.

RP Sanjiv Goenka group’s retail chain, Spencer’s Retail Ltd has signalled its intention to explore fundraising opportunities after achieving breakeven, aiming to enhance valuations and reduce debt, a company official said. The company has already taken board approval for future fundraising and will explore various options at the opportune time, he said. The promoters had in the past indicated that the management was open to induct new investors.

Solex Energy has announced its plan to move to the NSE main board from the exchange’s MSME platform, Emerge. In a statement, the company said that it has begun the process of migration from NSE Emerge to the main board. The migration process is expected to be completed within approximately 90 days, subject to regulatory approvals and compliance with all requirements, it said. Gujarat-based Solex Energy plans to increase its module manufacturing capacity from 1.5 GW to 15 GW, which will cost around ₹8,000 crore.

Max Estates announced the acquisition of a strategically located 10.33-acre mixed-use land parcel on the Noida-Greater Noida Expressway, for ₹711 crore with a potential to develop 2.6 mn square feet with 40 per cent residential and 60 per cent commercial development potential. 

Suzlon Group, and Torrent Power Ltd have collaborated for a 1 GW wind energy in India with a new 486 MW hybrid order. 

Arvind SmartSpaces has signed an agreement for a large horizontal multi-use project in the Mumbai Metropolitan Region (MMR), with a total estimated area of around 92 acre and a top-line potential of about ₹1,500 crore.

Results Calendar: Coal India, Indian Oil, Tata Steel, Bajaj Housing Finance, Canara Bank, Union Bank of India, Adani Total Gas, Petronet LNG, Federal Bank, ACC, Kaynes Technology, Adani Wilmar, New India Assurance Company, Indraprastha Gas, Sumitomo Chemical, Emami, Sundaram Fastners, Piramal Enterprises, Aditya Birla Sun Life AMC, LT Foods, Railtel Corporation, Prudent Corporate Advisory, Maharashtra Seamless, Aurinpro Solutions, Epigral, Refex Inds, Wonderla Holidays, Mahindra Logistics, Prataap Snacks, Jindal Drilling, Nitin Spinners, Apollo Pipes, Astec Lifesciences, Wheels India, Vardhaman Holdings, Vascon Engineers, Indo Farm Equipment, Dwarikesh Sugar, Rossell India.