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Stocks to watch: Vedanta, Zee Ent, TCS, SBI, L&T, and Tata Communications



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VedantaFoxconn Technology Group has pulled out of its joint venture with Vedanta Ltd that had planned to invest $20 billion in India to set up a semiconductor fabrication unit, display unit and a semiconductor assembly and test unit. The 60:40 partnership could set up the country’s first semiconductor manufacturing unit under a $10 billion government-backed financial stimulus plan and was once estimated to be ahead of two other consortia in the race to win concessions.

zee entertainment: The Mumbai bench of the National Company Law Tribunal has reserved its order on the proposed merger between Zee Entertainment Enterprises and Sony Pictures (Culver Max Entertainment), according to people familiar with the matter. The merger has so far been opposed by financial creditors such as Axis Finance, IDBI Bank and JC Flower ARC on the grounds that Zee has not paid their dues. Senior advocate Janak Dwarkadas, appearing for ZEE, submitted that public holding of ZEE is 96.01%, out of which 70% is held by public institutions.

TCSAccording to a media report, Tata Consultancy Services (TCS) is postponing several lateral hirings for at least three to four months. The IT giant is doing lateral hiring with 1.8 to 15 years of experience. All these appointments were initially facing a delay of one month in onboarding, however, as per media reports, these people are now facing a delay of at least three months in onboarding. Over 200 lateral recruitments have been affected in cities including Bengaluru, Pune, Kochi, Bhubaneswar, Delhi NCR and Indore.

state Bank of IndiaState Bank of India (SBI) today said it proposes to sell 2% stake in depository organization NSDL by selling 40 lakh shares. State Bank of India proposes to participate in the Initial Public Offering (IPO) of National Securities Depositories Limited (NSDL) through an offer for sale of 2% equity stake (up to ₹40,00,000) held by the bank in NSDL. common share). SBI said in a regulatory filing that the bank intends to participate in the IPO of NSDL.

L&TSpain’s Navantia and Larsen & Toubro on Monday signed a Teaming Agreement (TA) at the premises of the Spanish Embassy here, with an aim to submit techno-commercial bids for the prestigious P75 (India) submarine program of the Indian Navy. The agreement was signed in the presence of SN Subramanian, CEO & MD of L&T and Augustin Alvarez Blanco, Vice President of Naval Construction and Member of the Board – Navantia.

spicejetAmid the protracted legal battle between low-cost carrier SpiceJet and its erstwhile promoter, Maran Group has said there is no question of an amicable settlement with the airline. A statement from KAL Airways, a Marans Group firm, said, “Based on the order dated July 7, 2023, of the Hon’ble Supreme Court of India, the matter has reached its final point, in view of which there can be no question of an amicable settlement with SpiceJet Limited.” Not only.”

Tata Communications: Tata Communications to acquire the remaining 41.9% stake in eSIM company OSSE France 99.3 crore, the company said on Monday. Following the transaction, which the company expects to complete in about a month, Tata Communications’ Singapore-based subsidiary Tata Communications International Pte (TCIPL) will acquire 100% equity shareholding in Oasis Smart Sim Europe. In 2020, TCIPL acquired a majority equity stake of 58.1% in Oasis Smart Sim Europe SAS (OSSE France) and Oasis Smart E-Sim Pte Ltd (OSEPL), making OSSE France and OSEPL its subsidiaries.

Nazara Technologies: Online sports platform Nazara Technologies on Monday said its board has approved a raise of up to 750 crore through equity shares. The board also approved the increase in the share capital in the meeting held on Monday. from 30 crores 50 crore, according to a regulatory filing. “The Board has considered and approved the raising of funds by issue of Equity Shares of face value of such number as 4 to each company for the total amount of Rs. not more than 750 crore,” the filing said.

TaylorMade RenewablesTaylorMade Renewables Ltd on Monday said its board has approved a proposal to transfer its equity shares from BSE SME platform to the main board of BSE. However, the decision is subject to necessary approvals and eligibility criteria prescribed by BSE/SEBI, the company said in a regulatory filing. In order to ascertain the list of shareholders to whom notice of postal ballot will be sent and the cut-off date for calculation of voting rights has been fixed as July 7, 2023.

Max Ventures And IndustriesHow many properties have been sold by Max Estates, the real estate arm of Max Ventures & Industries Limited (MaxVIL)? 1,800 crore in its luxury housing project in Noida, Uttar Pradesh. Max Estates has achieved sales of more than “formal launch 1,800 crore for its first luxury residential project, Estate 128, located in Noida’s Sector 128. The project is spread over 10 acres, comprising three high-rise towers comprising 201 units, MaxVIL said in a regulatory filing. No. of units sold and at what price.

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Updated: July 11, 2023, 07:18 AM IST

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