Market Commentary - Stock Alert
Kotak Bank, Tata Power, Hindustan Aeronautics, Biocon in focus As on : 09-Jun-23  08:24

Kotak Mahindra Bank: Canadian-state-owned Canada Pension Fund will reportedly sell a 1.66% stake in Kotak Mahindra Bank. The deal size may be around $754 million, as per reports.

Tata Power Company: Tata Power Renewable Energy Limited through its subsidiary TP Vardhaman Surya Limited received Letter of Award 'LOA' to set up 966 MW RTC (Round-the- clock) hybrid renewable power for Tata Steel. The project has the hybrid renewable capacity of 379 MW solar and 587 MW wind power. Tata Steel, will invest 26% equity in the project. The project will be commissioned by 1st June 2025 as per the arrangement.

Hindustan Aeronautics: The meeting of the board of directors of the company is scheduled on 27 June 2023 to consider and approve a proposal of sub-division of equity shares of the company.

Biocon: The company's Active Pharmaceutical Ingredient (API) manufacturing facility located in Bangalore has received a certificate of GMP compliance from the Competent Authority of Germany, following an EU GMP inspection that was conducted in February 2023.

NHPC: NHDC (a subsidiary of NHPC) has been allotted a Pump Hydro Storage site in Village Narmada Nagar, Punasa, Dist. Khandwa, Madhya Pradesh with estimated storage capacity of 525 MW X 6 hours, by New and Renewable Energy Department, Government of Madhya Pradesh.

IRB Infrastructure Developers: The company and its listed private InvIT, IRB Infrastructure Trust has collectively registered toll collection growth of 20% in May 2023 against May 2022. The toll collection for May 2023 rose to Rs. 411 crore from Rs. 343 crore in May 2022.

Aether Industries: Aether Industries inked a license agreement with Saudi Aramco Technologies Company for the commercialization of the sustainable converge polyols technology.

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