Here’s a quick look at stocks likely to be in focus in today’s trade.
Infosys: The Board approved a ₹18,000 crore share buyback at ₹1,800 per share, representing 10 crore shares or 2.41% of the company’s equity.
Additionally, Infosys announced a ten-year strategic partnership with NYSE-listed HanesBrands Inc, a global apparel leader, under which it will collaborate on digital, business applications, and data transformation initiatives.
Bharat Forge: The company signed an MoU with UK-based Windracers to collaborate on the deployment, localisation, and application of its ULTRA Unmanned Aerial Vehicle (UAV) technology in India. Separately, Abu Dhabi-based MP3 International, a GRADEONE subsidiary, signed an agreement with Kalyani Strategic Systems (a wholly-owned arm of Bharat Forge) to supply critical artillery spare parts to the UAE.
Lodha Developers: The company entered into a Memorandum of Understanding (MoU) worth ₹30,000 crore with Lodha Developers to develop a large-scale data centre park in Palava. The project is expected to attract over ₹30,000 crore in combined investments from Lodha and multiple data centre players.
Mahindra & Mahindra: Its wholly-owned arm, Mahindra Holdings Ltd, will acquire stakes in Mahindra & Mahindra Contech and PSL Media & Communications, converting them into subsidiaries. The move is aimed at streamlining the group structure, improving operational efficiency, and enhancing transparency.
NBCC (India) Ltd: The company signed an MoU with RIICO to develop infrastructure projects worth ₹3,700 crore near Jaipur International Airport. The development will include a convention centre, Unity Mall, and other allied facilities across 95 acres on Tonk Road.
JBM Auto: Its subsidiary JBM Ecolife Mobility secured a $100 million long-term capital infusion from the International Finance Corporation (IFC) to fund the deployment of modern, air-conditioned electric buses across Maharashtra, Assam, and Gujarat.
Cohance Lifesciences: The USFDA completed a general current Good Manufacturing Practices (cGMP) audit of its API Unit-1 facility at Jaggaiahpet, Andhra Pradesh, between September 8-11. The inspection concluded with zero Form 483 observations.
JSW Infrastructure: Through its subsidiary JSW Port Logistics, the company acquired an 86-acre brownfield rail siding in Ballari, Karnataka, for ₹57 crore. The site was previously owned by Hothur Ispat.
Marico: The FMCG major signed a definitive agreement to acquire the remaining 46.02% stake in HW Wellness Solutions, owner of the True Elements brand, for ₹138 crore. The acquisition follows its earlier purchase of a 53.98% stake in May 2022, making HW Wellness a full subsidiary.
GMR Power and Urban Infra: The Supreme Court dismissed civil appeals filed by Haryana’s Distribution Licensees and GRIDCO, upholding a 2019 Tribunal ruling that confirmed GMR Kamalanga Energy’s right to receive linkage coal on a pro-rata basis among project beneficiaries.