Stocks that will see action today: March 27, 2025

FMCG major Hindustan Unilever Ltd has appointed former Britannia CEO and Executive Director Rajneet Kohli as its Executive Director, Foods. He will take over from Shiva Krishnamurthy, who will move on from his role to pursue an external opportunity, Hindustan Unilever Ltd (HUL) said in a statement. Kohli will join the company’s Management Committee with effect from April 7, 2025, it added.

The Ministry of Defence signed contracts with Bharat Forge Ltd and Tata Advanced Systems Limited (TASL) for the procurement of 155mm, 52 calibre Advanced Towed Artillery Gun Systems (ATAGS) and high‐mobility 6×6 gun towing vehicles at a total cost of about ₹6,900 crore on Wednesday.

Private equity firm KKR has launched an offer to offload up to 10.2 per cent stake in JB Chemicals and Pharmaceuticals for up to $300 million, according to a term sheet viewed by businessline .According to the term sheet, the entire deal consists of a base offer size of 1.06 crore shares or 6.8 per cent of the stake for around $200 million. There is an oversubscription option for up to 53 lakh shares or 3.4 per cent of the equity, amounting to $100 million.

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IT and digital transformation firm Happiest Minds anticipates double-digit organic growth in FY26 and FY27, driven by the momentum gained through its 10 strategic transformational initiatives. Chairman & Chief Mentor Ashok Soota expressed confidence in the company’s outlook, despite concerns over a potential US slowdown. The firm plans to develop a private equity company ecosystem and portfolio companies; address the requirements of GCC companies; create a large accounts focus strategy, which will take 10–15 of the company’s $2-3-million accounts; and raise them to $10-20 million. The Bengaluru-headquartered firm last week announced a slew of apex-level changes in its organisation structure with immediate effect. As part of the rejig, Executive Vice-Chairman Anantharaju has been elevated to Co-Chairman and CEO, while Soota has taken up an additional position as the Chief Mentor of the company.

Maruti Suzuki India has appointed Sunil Kakkar as an Additional Director and Whole-Time Director, the first instance of a homegrown Indian employee being nominated as a director on its board by parent Suzuki Motor Corporation for a period of three years up to March 31, 2028.

The board of the BSE will meet on March 30 to consider a bonus issue of shares, it said in an exchange filing. Earlier, the BSE had issued two bonus shares to its shareholders for every one share in 2022. 

Infosys Ltd has has received tax refund orders from the Income Tax Department pertaining to Assessment Years 2016-17 and 2019-20. As per the official exchange filing, the company expects a total refund of ₹2,949 crore, which includes interest. Infosys further noted that it is currently evaluating the financial impact of these orders on its results for the quarter and year ending March 31, 2025.

Bandhan Bank informed the exchanges that it has received a ₹119.38-crore income tax demand for AY2023-24, including interest, under Sections 143(3) and 144B of the Income Tax Act. The demand relates to disallowance of certain expenditures and deductions.

Axis Bank on Wednesday divested a 1.3 per cent unitholding in National Highways Infra Trust (NHIT) for Rs 230 crore through an open market transaction. NHIT, an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI), was set up in 2021 to support the Centre’s National Monetisation Pipeline. According to bulk deal data available on the BSE, Axis Bank sold more than 1.71 crore units at an average price of ₹133.80.

Wipro on Wednesday announced that it has clinched a 500-million pound ($644.7 million), 10-year strategic deal from British insurer Phoenix Group. Announcing the blockbuster deal, Wipro said the project is designed to deliver life and pension business administration for the ReAssure business and accelerate Phoenix Group’s operational transformation.

The Reserve Bank on Wednesday said it has imposed penalties on HDFC Bank and Punjab & Sind Bank for deficiencies in regulatory compliance. A penalty of ₹75 lakh on HDFC Bank has been imposed for non-compliance with certain directions issued by RBI on ‘Know Your Customer’ (KYC), the central bank said in a statement. In another statement, the RBI said a penalty of ₹68.20 lakh has been imposed on Punjab & Sind Bank for non-compliance with certain directions on ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ and ‘Financial Inclusion – Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)‘.

Chhattisgarh Chief Minister Vishnu Deo Sai on Wednesday invited state-owned BEML to set up an advanced mining equipment manufacturing plant in the state, a PTI report said. The Chief Minister presented the ‘Invitation to Invest’ to BEML Chairman & Managing Director Shantanu Roy at the Investor Connect event, the company said in a statement. “The proposed plant will focus on producing high-performance dump trucks, water sprinklers, and motor graders, catering to increasing demand in the mining and infrastructure sectors,” it added.

The board of Vedanta has approved the appointment of Rajiv Kumar as CEO of its aluminium business. The development comes at a time when Vedanta is demerging its businesses, including its aluminium business, into four independent entities.

TVS Motor (Singapore) (TVSM Singapore), the wholly-owned subsidiary of TVS Motor Company, has completed the acquisition of an additional 8.26% of the share capital of The GO Corporation (GOAG), Switzerland from its existing shareholder for a total consideration of CHF 500,000. Pursuant to the aforesaid acquisition, TVSM Singapore’s holding in GOAG has increased to 100% and consequently has become a wholly-owned subsidiary of TVSM Singapore and the Company.

Indian Bank has received a tax demand notice of ₹873.15 crore from the Income Tax Department for the assessment year 2017-18. The bank said it will challenge the order before the appropriate appellate authority.

Info Edge (Naukri.com) has informed the exchanges that it has received an income tax demand of ₹17.05 crore for assessment year 2023-24. The tax demand from the Assessment Unit of the Income Tax Department is mainly due to the disallowance of employee stock option plan (ESOP) expenses claimed by the company

Max Ventures Investment Holding is likely to offload up to 1.59% stake in Max Financial Services through block deals, according to market buzz. The offer price is reportedly fixed at ₹1,117.6 per share, representing a 0.5 per cent discount to the company’s current market price (CMP). The total size of the block deal is estimated at ₹611.6 crore, the sources added.

SBI Life Insurance has received an Income Tax Order under Section 270A from the Assessment Unit of the Income Tax Department, imposing a penalty of ₹23.80 crore for the Assessment Year 2018-19 (Financial Year 2017-18). The tax demand and interest for the period stands at nil, with the penalty arising from the tax authority’s alleged erroneous addition of allowable expenses under the Income Tax Act, 1961.

The board of Piramal Enterprises has approved investment of ₹600 crore into Piramal Finance Ltd (PFL), its wholly-owned subsidiary, through a rights issue. According to a regulatory filing by the company, the investment aims to support PFL’s business operations and general corporate purposes. The company clarified that there will be no change in its shareholding percentage in PFL following this transaction.