Kolkata: As expected, the stock market ended the trading session on a positive note on Monday, Feb 23. While Sensex 30 closed at 83,294.66, 0.58%, Nifty 50 rose 141.75 points or 0.55% end the day 25,713. While the market sentiment seems to be positive today too, let’s have a lot at the stocks that might be in the news.
Lupin: Pharma major Lupin has received approval from the European Commission for its biosimilar ranibizumab Ranluspec. This approval has been granted in both vial and pre-filled syringe forms. This is likely to fortify the company’s European business.
BPCL: PSU oil marketer BPCL has received an excise demand order of Rs 1816.65 crore from the Kochi Central Tax and Central Excise Commissioner. The company has stated that it will file an appeal against this order. This tax-related news could impact the stock.
Bharti Airtel: Telecom company Bharti Airtel plans to invest up to Rs 20,000 crore in its NBFC arm, Airtel Money Limited, over the next few years. This will strengthen its presence in the financial services segment.
Patel Engineering: Patel Engineering, through a joint venture, has received an irrigation project worth Rs 133.25 crore from the Maharashtra Krishna Valley Development Corporation. The company’s share in this contract is Rs 67.96 crore. These infrastructure stocks will be worth watching.
HFCL: Technology company HFCL has joined a consortium for a research project funded by the Department of Telecommunications. This project, led by IIT Delhi, focuses on developing hollow core fiber technology for next-generation communication networks.
Afternoon Energies: Waaree Energies has received an order to supply 500 MW of solar modules from a domestic solar power developer and independent power producer. This order will further strengthen the company’s order book.
Signpost India: Digital out-of-home media company Signpost India Ltd has received exclusive outdoor advertising rights for the Kolkata Streetscape Renaissance project under a 10-year contract with the Kolkata Municipal Corporation worth Rs 450 crore.
Pace Digitek: Pace Digitek’s subsidiary, Lineage Power, has received an order from Reliance Industries worth Rs 1587.10 million. This order is related to the supply of lithium-ion battery packs.
Chalet Hotels: Chalet Hotels has approved a plan to develop a 330-room luxury hotel and approximately 36,255 square feet of commercial and retail space in Hyderabad. The project will involve an investment of approximately Rs 632.8 crore.
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