Stocks in focus: TCS, UltraTech Cement, JSW Steel, Lupin and more

The domestic equity market closed flat on Thursday. Sensex fell 5 points to 66,017 and Nifty lost 10 points to settle at 19,802.

Here’s a look at stocks that are likely to remain in news today.

L&T Finance

The non-banking financial company has inked a $125 million loan pact with the Asian Development Bank (ADB) to support financing in rural and peri-urban areas in India, particularly for women borrowers. The funding comprises a loan of up to $125 million from ADB, and an agreement to syndicate an additional $125 million co-financing from other development partners, L&T Finance said.

UltraTech Cement

India’s largest cement producer, has expressed interest in acquiring Kesoram Industries’ cement assets and commenced negotiations to acquire promoters’ stake in the firm. Kesoram Industries – which has presence in cement, tyres and tubes, heavy chemicals and spun pipes – sells cement under the brand Birla Shakti.

JSW Steel

The company has completed the Rs 750 crore investment in JSW Paints, a group company of Sajjan Jindal-owned JSW Group. “With the last tranche of investment of Rs 74,99,99,903, the company has completed making the entire investment of Rs 750,00,00,000 in JSW Paints and has been intimated by JSW Paints today that it has on November 22, 2023, completed the allotment in respect of the aforesaid strategic investment,” it said in a regulatory filing.

BHEL

The company has received notices from BSE Ltd. and National Stock Exchange of India (NSE) for imposing the fine of Rs 5,42,800/- for non-compliance of Regulation 17 (1) of SEBI (LODR) Regulations, 2015 pertaining to composition of Board of Directors as the number of Independent Directors are less than 50% of the actual strength of the BHEL’s Board, the PSU said.

Lupin

The global pharma major has received tentative approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application for Canagliflozin Tablets, 100 mg and 300 mg, to market a generic equivalent of Invokana Tablets, 100 mg and 300 mg, of Janssen Pharmaceuticals, Inc. This product will be manufactured at Lupin’s Pithampur facility in India, the company said in a regulatory filing.

LTIMindtree

The technology consulting and digital solutions company has launched Quantum-Safe virtual private network (VPN) link in London, to secure data transmission for the approaching quantum era. LTIMindtree collaborated with its partners Quantum Xchange, and Fortinet for Quantum-Safe VPN platform.

NMDC

The state-owned iron ore company has fixed prices of lump ore (65.5%, 6-40mm) at Rs 5,400 per tonne and fines (64%, -10mm) at Rs 4,660 per tonne. These prices will be fixed with effect from November 23.

Prestige Estates Projects

The real estate firm has launched Prestige Glenbrook, a high-rise residential project in the Bangalore's IT Hub. The development comprises 285 apartments across two high-rise towers with a developable area of 0.7 million square feet and has a revenue potential of Rs 550 crore.

Tata Consultancy Services

The firm is set to turn ex-buyback with effect from November 24. The company had cleared a buyback of shares worth Rs 17,000 crore, at a price of Rs 4,150 per share in October. Meanwhile, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) will also trade ex-buyback with effect from today.

Also read: GIFT Nifty down 11 points: Asian markets, crude oil prices, dollar movement & more,

Also read: Stock recommendations for November 24, 2023: CDSL, Bajaj Auto and Star Health