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Stocks in news: Tata Motors, Zee Entertainment Enterprises, Infosys, Coal India and more

Stocks in news: Tata Motors, Zee Entertainment Enterprises, Infosys, Coal India and more

The 30-share Sensex ended 148.53 points or 0.25 per cent higher at 60,284.31 on Tuesday. Nifty rose 46 points or 0.26 per cent to its fresh closing peak of 17,991.95.

Stocks in news: Tata Motors, Zee Entertainment Enterprises, Infosys, Coal India and more Stocks in news: Tata Motors, Zee Entertainment Enterprises, Infosys, Coal India and more

Indian benchmark indices are likely to open on a flat to positive note amid mixed global cues.

The 30-share Sensex ended 148.53 points or 0.25 per cent higher at 60,284.31 on Tuesday. Nifty rose 46 points or 0.26 per cent to its fresh closing peak of 17,991.95.

Here are the stocks that are likely to be in focus today.

Tata Motors: Tata Motors Ltd (TML) and TPG Rise Climate have today entered into a binding agreement whereby TPG Rise Climate, along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated. The first round of capital infusion will be completed by March 22 and the entire funds will be infused by end of 2022, Jim Coulter, Managing Partner, TPG Rise Climate and Founding partner of TPG, said.

TPG Rise Climate, along with co-investors, will invest Rs 7,500 crore in compulsory convertible instruments to secure between 11 per cent to 15 per cent stake in this company translating to an equity valuation of up to $9.1 bn.

Zee Entertainment Enterprises Ltd : The Zee Board, in a stock exchange filing today, said Invesco's actions over the past few weeks have been motivated by circumstances extraneous to the company's business or performance or the issues of corporate governance or public interest.

"The board of directors of the company (board) held a meeting today, on 12  October 2021, to consider a note addressed to them, by the Managing Director (MD) and chief executive officer (CEO) Punit Goenka," the company said in a statement.

According to the note, a deal was presented by Aroon Balani and Bhavtosh Vajpayee, the representatives of Invesco, to Punit Goenka in February 2021, which involved the merger of the company and certain entities owned by a large Indian group (Strategic Group).

Coal India: Coal India arm NCL said it is ensuring sufficient fuel supply to meet the growing energy demand of the nation and reaffirmed its commitment for uninterrupted fuel dispatch to its dependent coal consumers, including thermal power plants.

The assurance assumes significance as at present the country''s power plants are grappling with coal shortages.

Power Grid Corporation of India: State-owned Power Grid Corporation of India Ltd''s (PGCIL) board on Tuesday okayed an investment of Rs 14.23 crore for an electric vehicle charging station in Navi Mumbai and to create an arm to undertake telecom and digital technology businesses.

The board in its meeting on Tuesday approved the investment approval for "setting up of electric vehicle charging station in Navi Mumbai under the FAME India Scheme Phase-II" at an estimated cost of Rs 14.23 crore, according to a BSE filing.

Infosys: The company will announce its September quarter earnings today.

IndusInd Bank: The bank has been authorised by RBI to collect Direct and Indirect Taxes on behalf of the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).