Five largecap names that investors should keep an eye on today!
Check out the largecap companies making headlines in the morning trade session.
Among the largecap companies Maruti Suzuki, Godrej Properties, Reliance Industries, Adani Green Energy and Pidilite Industries are among the stocks that are in the news on Monday. Let us see why!
Maruti Suzuki: Suzuki Motor Corporation (SMC) signed MOU with the State of Gujarat, India to invest approximately 150 billion yen (approximately Rs 104.4 billion) for local manufacturing of electric vehicles (BEV) and BEV batteries, announced the largest automaker in India on Sunday. The MOU was signed on 19 March 2022 at the India-Japan Economic Forum held in New Delhi, India, in the presence of both country's Prime Ministers. On Monday at 9.55 am, Maruti Suzuki was trading at Rs 7898.55, up 2.69% or 206.9 per share.
Godrej Properties: The company in its exchange filing this morning has announced that its township project Riverhills in Mahalunge, Pune, achieved FY 2022 sales of Rs 1,002 crore. In the current fiscal year, the business has sold 1,550 homes totalling over 1.5 million square feet for this township project. GPL has sold over 3,600 homes with a total area of 3.4 million square feet and a booking value of over Rs 2,100 crore since the launch of their first phase in the township in September 2019. At 10.10 am on Monday, Godrej Properties was trading at Rs 1631.60, up 2.15 % or 34.40 per share.
Reliance Industries: The company has announced on March 20, Reliance Retail Ventures Ltd (RRVL), its wholly-owned subsidiary has acquired an 89% equity stake in Purple Panda Fashions Pvt Ltd, which owns and operates the Clovia business, with an investment of Rs 950 crore through a combination of secondary stake purchase and primary investment. With this acquisition, RRVL will further strengthen its portfolio in the innerwear segment, having already acquired Zivame and Amante brands. At 9.55 am on Monday, Reliance Industries was trading at Rs 2458.35, down 0.86% or 20.75 per share.
Adani Green Energy (AGEL): The company informed in its exchange filing this morning that it has extended its Construction Financing Framework to US$ 1.64 billion by raising a US$288 million facility for its under-construction renewable asset portfolio through definitive agreements signed with a group of leading international lenders. The facility will initially finance the 450 MW hybrid portfolio of solar and wind renewable projects that AGEL is setting up in Rajasthan, India. It is noteworthy that AGEL has set a target of achieving 45 GW renewable energy capacity by 2030, representing 10% of the Government’s 450GW countrywide renewable energy target. The extended pool of liquidity strengthens AGEL’s strategy to fast-track the development of its under-construction asset portfolio in sync with accelerating the energy transition. In the morning trades, AGEL was quoting at 1899.15 down 0.35% or 6.60.
Pidilite Industries: The company’s wholly-owned subsidiary Madhumala Ventures Pvt Ltd has made an investment of approximately Rs 3.78 lakh in Kaarwan Eduventures Pvt Ltd engaged in the business of providing interactive and result oriented education for architects and designers. The investment would be done by subscribing to Compulsorily Convertible Preference Shares, which on conversion would translate into 26% of the issued and paid-up share capital of Kaarwan Eduventures. At the time of writing, shares of Pidilite Industries were trading Rs 2501.25, down by 0.36% or 9.15.
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