Stocks in Focus Today:
UltraTech Cement: Plans to invest ₹32,400 crore in expanding operations, aiming for a capacity of 200 MTPA with two new greenfield projects in Chhattisgarh and Tamil Nadu.
Zee Entertainment Enterprises: CEO Punit Goenka announces a voluntary 20% salary reduction amid cost-effective measures within the organization.
Mahindra and Mahindra Financial Services: Reports strong performance for FY24 with significant growth in disbursements and business assets.
JSW Energy: Announces intention to raise ₹5,000 crore through Qualified Institutional Placement process for undisclosed purposes.
Hindustan Zinc: Reports a slight decrease in mined metal production but an increase in refined metal production for Q4 FY24.
Zomato: Faces service tax demand and penalty order exceeding ₹184 crore for specific sales conducted by foreign subsidiaries.
Shriram Properties: Subsidiary issued penalty order of ₹446.79 crore by Income Tax office, contesting it in the Madras High Court.
Axis Bank: Receives Competition Commission of India’s approval for stake acquisition in Max Life Insurance Company Ltd.
Biocon: Completes transfer of branded formulations business in India to Eris Lifesciences for ₹1,242 crore.
Anupam Rasayan India: Signs letter of intent with Japanese multinational corporation for a $90 million deal over seven years for advanced intermediates supply using fluorination chemistry.
