Top Trending Stocks Today featuring Axis Bank, Tata Steel, NTPC, Glenmark, and more!
Axis Bank
Private investment firm Bain Capital is reportedly preparing to sell its stake in Axis Bank through a block deal, potentially offering the shares at a discounted rate. The Boston-based company is said to have engaged in negotiations for the sale on Thursday. Bain Capital is expected to sell its 0.75% stake in the private lender at a slightly reduced price compared to the closing rate on Wednesday, as per The Economic Times. The proposed offer price range is set between Rs 964 and Rs 977.70 per share, indicating a discount of up to 1.4% relative to the previous closing price of Rs 977.70.
Tega Industries
Tega Industries witnessed a significant rise in share price during early trading on June 15. This surge came as a result of the National Company Law Tribunal (NCLT) granting approval for the corporate restructuring of Tega Industries’ promoter group companies.
Tata Steel
Tata Steel, one of India’s leading steel manufacturers, has joined forces with Germany’s SMS Group to tackle the urgent challenge of reducing carbon emissions. With a clear commitment to achieving net-zero carbon emissions by 2045, Tata Steel aims to leverage the partnership to implement an innovative technology capable of cutting carbon emissions by over 50% during the steel production process. This groundbreaking collaboration was announced in a statement issued by Tata Steel on Wednesday.
Spandana Sphoorty
Hyderabad-based financial firm Spandana Sphoorty has dismissed speculations about its major shareholder, Kedaara Capital, engaging in discussions with YES Bank regarding a stake sale. The company stated that it’s board and corporate promoter remain dedicated to implementing the Vision 2025 business plan, which was approved by the directors in July of the previous year.
Mobility Solutions
Mobility Solutions Ltd (MSL) said on Wednesday that it has successfully landed a contract for INR 100 crore from the famed Indian Railways, which is a big milestone. Deliveries and installations of important parts for the prestigious Vande Bharat Express are included in the deal.
NTPC
In a recent analysis conducted by the Institute for Energy Economics and Financial Analysis (IEEFA), it has been suggested that state-owned NTPC’s strategic acquisition and revival of stranded thermal power plants could offer multiple benefits, including alleviating the burden on banks’ balance sheets.
Glenmark
In a significant move aimed at improving the accessibility and affordability of treatment for a certain type of cancer, Glenmark Pharmaceuticals, a leading pharmaceutical company, announced a substantial price reduction for its drug, Trumab. Effective from June 15, the price of Trumab has been reduced to Rs 35 per milligram, resulting in a 70 percent decrease in cost. The revised price for a 440 milligram vial now stands at Rs 15,749, making it a more affordable option compared to other brands in the market, which are priced between Rs 40,000 and Rs 54,000.
MEIL
Hyderabad-based Megha Engineering & Infrastructures Ltd (MEIL) has announced that its subsidiary, IComm Tele Limited, has successfully won a significant defense contract worth INR 500 crore from the Ministry of Defence (MoD).
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