Stocks to watch: Hero MotoCorp, Adani Power, JSW Energy, IOC, LIC

Here is the list of the 10 main actions that will be in the spotlight today:

MotoCorp Heroes: The country’s largest two-wheeler maker, Hero MotoCorp, announced on Thursday that it is finalizing a collaboration agreement with a US electric vehicle maker to jointly develop electric motorcycles, presumably for the Indian market. Hero MotoCorp said its collaboration with California-based Zero Motorcycles will focus on the co-development of e-bikes. Zero is a maker of premium electric motorcycles and powertrains, the company said. He added that Zero is a “world leader” in its segment.

Adani Power: The Competition Commission of India (ICC) announced on Thursday that it has approved the acquisition of 100% of the share capital of Diliigent Power Private Limited and DB Power Limited by Adani Power Limited. Diligent Power primarily carries on the business of a holding company. It also provides project management and consulting services, limited to DB Power. DB Power operates a coal-fired power plant with an installed capacity of 1200 MW per hour in Chhattisgarh.

JSW Energy: The Competition Commission of India on Thursday approved the acquisition of 18 subsidiaries of Mytrah Energy by JSW Neo Energy Ltd, a subsidiary of JSW Energy. The proposed combination provides for the acquisition of the shareholding of 18 subsidiaries of Mytrah Energy (India) Pvt Ltd (Mytrah) through individual share purchase agreements by JSW Neo Energy Ltd, according to an official statement. The combination provides an opportunity for JSW Neo Energy to acquire an operational renewable portfolio of 1,753 MW.

Indian oil company: Indian Oil Corporation (IOC), the country’s largest oil company, announced on Thursday that it will launch a new company to carry out financial activities including global treasury services in GIFT City, Gandhinagar. In a filing, the CIO said its board had approved the establishment of a wholly-owned subsidiary and the opening of its office at the International Financial Services Center (IFSC) in Gujarat International Finance Tec-City (Gift City) in Gandhinagar.

LIC: Life Insurance Corporation on Thursday announced the purchase of an additional stake in specialty chemicals maker Deepak Nitrite to bring its overall stake in the company to more than 5%. The Company’s stake in Deepak Nitrite increased from 67,88,327 to 68,58,414 shares, increasing its stake from 4.977% to 5.028% of said company’s paid-up capital, LIC said in a regulatory filing on Wednesday.

InterGlobe Aviation: India’s largest airline IndiGo today inaugurated its first cargo plane in a bid to launch a dedicated cargo service. The airline inducted an Airbus A321 freighter, which was converted from a passenger plane to a full freighter configuration in Singapore. The plane will be used for domestic and international missions carrying products such as valuables, express shipments, perishables, general cargo, documents and mail, IndiGo said.

Blue dart: Courier delivery service provider Blue Dart Express Ltd will increase the price of shipments by an average of 9.6% from January 1, 2023. Customers signing up from October 1 to December 31 will not be affected by the price increase, the company added. . The company said it adjusts its prices every year, taking into account inflation, currency dynamics, volatility in fuel costs, growing regulatory costs and other mandatory costs, such as than expenses related to workforce compliance with enhanced safety regulations at more than 55,000 sites.

Motherson Sumi Wiring: Leading supplier of solutions for OEMs, Motherson Sumi Wiring India (MSWIL) is considering the issue of free shares to its existing shareholders. The company’s board of directors will meet today to consider the bonus issue proposal. In its regulatory filing, MSWIL said, “We would like to advise that a meeting of the Company’s board of directors is scheduled to be held on Friday, September 30, 2022, among other things, to consider the proposed issuance of bonus shares to shareholders. of the society. “

Adani Green: Adani Green Energy Ltd (AGEL) announced on Thursday that it has commissioned the world’s largest wind-solar power plant with a capacity of 600 MW in Jaisalmer, Rajasthan. The plant has entered into a power purchase agreement with Solar Energy Corporation of India (SECI) to 2.69/kwh for 25 years, according to a company statement.

Lupine: Pharmaceutical company Lupine said on Thursday it had received a warning letter from the US health regulator for its Tarapur-based manufacturing plant in Maharashtra. The United States Food and Drug Administration (USFDA) inspected the site from March 22, 2022 through April 4, 2022. “The Company does not believe the warning letter will impact the disruption of supplies or existing revenue from operations of this facility,” the Mumbai-based company said in a regulatory filing.

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