Stocks to watch out for today: Tata Power, KPI Green, Canara Bank, Swan Energy and more

The domestic equity market closed higher on Wednesday. Sensex rose 701 points to end the session at 72,038 and Nifty gained 213 points to settle at 21,654.       

Here's a look at stocks to watch out for today.

Reliance Capital

The Competition Commission of India (CCI) has cleared the acquisition of the stake in Reliance Capital by IndusInd International Holdings Limited, IIHL BFSI (India) Limited, and Aasia Enterprises LLP. Reliance Capital is undergoing insolvency resolution proceedings initiated under the Insolvency and Bankruptcy Code.

Tata Power Company

The Tata Group firm has inked a share purchase agreement and bought a 100 percent equity stake in Bikaner III Neemrana II Transmission, a project special purpose vehicle. The acquisition cost is Rs 18.6 crore. The special-purpose vehicle formed in June 2023 will build, own, operate, and transfer an electrical power transmission system between Bikaner and Neemrana in Rajasthan.  

Zomato

Shares of Zomato Ltd are in focus after the online food delivery firm informed stock exchanges that it has received a show cause notice under Section 74(1) of the Central Goods and Services Tax Act, 2017 from the Directorate General of GST Intelligence, Pune Zonal unit.

IIFL Finance

Foreign investor FIH Mauritius Investment has offloaded a 7.2 percent stake or 27 lakh shares in the company via open market transactions on June 16 and December 22. With this stake sale, FIH's shareholding in the company fell to 15.12 percent, from 22.32 percent earlier.  

Exide Industries

The company has invested Rs 40 crore in the equity shares of the wholly owned subsidiary Exide Energy Solutions. The total investment made by the company in Exide Energy Solutions stands to Rs 1,820.01 crore.

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Oil India

The state-owned oil and gas exploration company has paid the second call (Rs 27.50 per equity share) of Rs 5,50,94,75,262.50 to Numaligarh Refinery. Numaligarh Refinery has allotted 20,03,44,555 partly paid-up equity shares to Oil India under a rights issue allotment. Oil India owns a 69.63 percent stake in Numaligarh Refinery.

KPI Green Energy

The company and its subsidiary KPIG Energia have commissioned solar power projects totaling 17.35 MWp. The projects were executed on behalf of esteemed clients, namely, Jay Metal Tech, Reenam Fabrics, JPB Fibers, and Creative Technologies, as part of company's captive power producer business segment.

Coromandel International

The Tamil Nadu government has temporarily suspended the operation of the Coromandel International plant at Ennore near Chennai after an ammonia leak at its facility late at night on December 26. The Tamil Nadu Pollution Control Board said no further leakage was found from the pipeline.

Swan Energy

Foreign portfolio investor Hypnos Fund offloaded 32,82,958 equity shares in the company via open market transactions. The shares were sold at an average price of Rs 500.58 per share, amounting to Rs 164.33 crore. The fund owned 32,92,758 equity shares, or a 1.25 percent in Swan, as of September 2023.

PTC Industries

The company has inked a Memorandum of Understanding (MoU) with Nasmyth (UK) for collaboration to leverage their capabilities for offering solutions to defence and aerospace customers in India and globally.

KP Energy

The company said its board will meet on December 30 to consider the proposal for the issue of bonus equity shares to the shareholders of the company.

South Indian Bank

The bank said its Board of Directors has cleared the fund raising of Rs 1,750 crore via issue of equity shares of the bank on a right basis to its existing eligible shareholders.

Droneacharya Aerial Innovations

Foreign investor BofA Securities Europe SA has bought 1.67 lakh shares in the industrial drone solutions company at an average price of Rs 187.65 per share.

Canara Bank

The public sector lender has approved to initiate the process of listing its mutual fund subsidiary, Canara Robeco Asset Management Company, on the stock exchanges via an initial public offering (IPO). The modalities of listing will be decided in due course.

GE Power India

The company has won an order from NTPC for supply of generator spares and Bokaro Power Supply Company for supply of spares. Base value of the order from NTPC is Rs 10.47 crore and Bokaro Power Supply Rs 9.91 crore.

Azad Engineering

The shares of aerospace components and turbine manufacturing company will list on the bourses on December 28. The final issue price was fixed at Rs 524 per share.