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 large cap companies Mahindra & Mahindra, Adani Enterprises, Sun Pharmaceuticals, Bharti Airtel and Godrej Properties are among the stocks that are in the news on Monday. Let us see why!
Mahindra & Mahindra: The company announced its entry into the NFT (non-fungible token) universe, with the release of its first tranche of tokens, becoming the first Indian automotive OEM to enter this space. The first NFT offerings from Mahindra will be based on the iconic Thar and will be released in collaboration with Tech Mahindra Limited, an Associate of the Company. The launch of NFTs is a step to leverage the next frontier of digital marketing. The Company initially proposes to start with four series of NFTs of Thar and the estimated investment towards the same is less than Rs. 1 Crore. On Monday at 9.55 am, M&M was trading at Rs 756, down 1.17% or 8.70 per share.
Adani Enterprises: The company in its exchange filing has announced that its wholly-owned subsidiaries Mahanadi Mines and Minerals Pvt Ltd (MMMPL) and MP Natural Resources Pvt Ltd(MPNRPL) has emerged as successful bidders of Bijahan (IB Valley Coalfield in Odisha) and Gondbahera Ujheni East (Singrauli Coalfield in Madhya Pradesh), respectively. The total geographical resource of Bijahan is 327MT and 250MT Gondbahera Ujheni East with revenue sharing of 14% and 5% respectively with the Government. At 10.10 am on Monday, Godrej Properties was trading at Rs 1866.45, down 0.17% or 3.15 per share.
Sun Pharmaceuticals: The company has announced that its wholly-owned U.S. subsidiary presented data from two pivotal Phase 3 clinical trials of WINLEVI (clascoterone) cream 1% for the topical treatment of acne vulgaris (acne). The results showed favourable safety and efficacy data in patients 12 years of age and older with acne. The company claimed that the data supports the therapeutic rationale for first-in-class androgen receptor inhibitors. There was no topical medication available that was able to reduce sebum production, which is a major cause of acne and this data should also provide dermatologists with confidence that they can use WINLEVI to treat both females and males with acne. In the opening session on Monday, Sun Pharma was trading at Rs 907.70, up 0.62% or 5.6 per share.
Bharti Airtel: The telecom operator announced to acquire a 4.7% stake in Indus Towers from Vodafone Group Plc for Rs 2388 crore at Rs 187.88 per share as agreed transaction price. In a separate filing, the company also announced that it has entered into an Agreement for the acquisition of a 7.036% equity stake in Avaada KNShorapur Pvt Ltd, a special purpose vehicle formed to own and operate the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws. The cost of acquisition is stated as Rs 1.74 crore for 17,42,650 equity shares of Rs 10/- each. Avaada KNShorapur is engaged in business to act as a Special Purpose Vehicle (SPV) under Avaada Indiclean Private Limited to develop, execute, manage and run up to 10 MW Solar Power Generation Plant(s) in the State of Karnataka. In the morning trades, Bharti Airtel was quoting at 717.50 up 1.16% or 8.25.
Godrej Properties: The real estate developer announced that it has entered into an agreement to develop 33 acres of land parcel in the residential micro-market of Bannerghatta Road in South Bengaluru. The agreement is for an outright purchase with a 5% area share to the landowners. Bannerghatta Road is one of the established residential locations in South Bengaluru and has excellent connectivity to the Bannerghatta Main Road and the IT/ITES belt in Electronic City. At the time of writing, shares of Godrej Properties were trading Rs 1650, up by 0.17% or Rs 28.4.
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