Stocks in news: Adani Power, JP Associates, ZEEL, Dr Reddy's Labs, M&M, Bajaj Finserv, Biocon and MOIL

Domestic equity markets gave a big thumbs up to the exit polls results on Monday and scaled new highs. Headline indices settled at new record levels, expecting another term for PM Modi. BSE Sensex zoomed a stellar 2,507.47 points, or 3.39 per cent to settle at 76,468.78. NSE's Nifty50 index soared a whopping 733.20 points, or 3.25 per cent, to end the session at 23,263.90. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, June 04, 2024:
 

Dr Reddy’s Laboratories: The pharma major's subsidiary- Aurigene Pharmaceutical Services, a global CRDMO- has opened its biologics facility in Hyderabad, offering process development and clinical scale manufacturing capabilities.
 

Mahindra & Mahindra Financial Services: The over disbursement of the shadow lender stood at Rs 4,430 crore in May, rising 7 per cent on a year-on-year basis. Business assets stood at Rs 1,05,250 crore, up 23 per cent YoY in May.
 

Bajaj Finserv: The Bajaj Group company's board of directors are scheduled to meet on Wednesday, June 6 to consider and approve the IPO proposal of listing of Bajaj Housing Finance, a wholly owned subsidiary of the company. The IPO shall be comprising a fresh issue of equity shares and an offer for sale (OFS) component.
 

Adani Power: The Adani Group company’s wholly owned subsidiary, Mahan Energen, has approved the merger of Stratatech Mineral Resources with itself. Stratatech Mineral Resources is a wholly owned subsidiary of Adani Enterprises.
 

Zee Entertainment Enterprises: The media major informed that the meeting of the board of directors is scheduled for June 6 to consider raising funds via issuance of equity shares and/or any other eligible securities.
 

Biocon: The biopharma player has received approval from the USFDA for its injectable drug product, Micafungin (50mg and 100mg vials). The drug is used as an antifungal medication to treat fungal or yeast infections.
 

MOIL: The metal mining company recorded a new peak of 2.15 lakh tonnes monthly sales of manganese ore in May 2024, registering growth of 41 per cent on a YoY basis.
 

Kalyan Jewellers: The jewellery firm has acquired the remaining 15 per cent equity stake in Candere, an online platform for gold, diamond and other precious metals & stones, from Rupesh Jain for Rs 42 crore.
 

Century Textiles and Industries: A subsidiary of the plywood products firm named Birla Estates has incorporated its wholly owned subsidiary, Vibhavya Properties, to acquire and/or develop real estate projects.
 

Sansera Engineering: A group company, MMRFIC Technology, has opened a new R&D facility in Bangalore integrating semiconductor packaging, precision PCB assembly, and testing.
 

Suraj Estate Developers: The recently listed Mumbai-based real estate developer has appointed Palak Dani Mansotra as Chief Marketing Officer and Mohit Ramsinghani as Chief Business and Strategy Officer, effective from June 3.
 

Jaiprakash Associates: The Allahabad bench of the National Company Law Tribunal (NCLT) has admitted ICICI Bank and SBI's insolvency plea against the company.
 

Capacite Infraprojects: The company said the board has appointed Whole Time Director Rohit Katyal as Chairman and deferred the decision on raising funds up to Rs 100 crore via NCDs.
 

Edelweiss Financial Services: ECL Finance, a subsidiary of the company, has received an assessment order and demand notice on June 3, 2024, under Section 147 of the Income Tax Act, 1961, for the assessment year 2020-21 and a tax demand of Rs. 0.82 crore (including interest) on account of certain disallowances.
 

IFGL Refractories: The company board has appointed Sikander Yadav as Chief Financial Officer and re-designated Amit Agarwal as VP-Finance & Accounts. Earlier, Amit Agarwal was the Chief Financial Officer.
 

3i Infotech: The IT firm's subsidiary 3i Infotech Saudi Arabia LLC has not been able to pay two installments for April and May 2024 due to cash flow issues. Consequently, the Zakat, Tax and Customs Authority (ZATCA) has initiated a mandatory collection process and blocked immigration of employees of the subsidiary and other government portal services.