Market Commentary - Stock Alert
RIL, NTPC, Coal India, Bhel, GPT Healthcare in focus As on : 29-Feb-24  08:48

Reliance Industries (RIL): RIL, Viacom 18 Media Private Limited (Viacom18) and The Walt Disney Company (Disney) announced the signing of binding definitive agreements to form a joint venture (JV) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (SIPL) through a court approved scheme of arrangement. In addition, RIL has agreed to invest at closing Rs 11,500 crore into the JV for its growth strategy. The transaction values the JV at Rs 70,352 crore on a post-money basis, excluding synergies. Post completion of the above steps, the JV will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney.

NTPC: NTPC Green Energy Limited (NGEL), a wholly owned subsidiary of NTPC, has signed a joint venture agreement with Maharashtra State Power Generation Company (MAHAGENCO), for development of Renewable Energy Parks in Maharashtra. The agreement aligns with the green energy objectives of NTPC and is another step in the Government of India?s efforts towards energy transition.

Coal India, Bhel: Coal India has signed a joint venture agreement (JVA) with Bhel to form a joint venture company to undertake coal to chemicals business by initially setting up a coal to 2000 TPD ammonium nitrate plant using Bhel's in-house developed PFBG (Pressurized Fluidized Bed Gasification) technology.

Oil India: The meeting of the board of directors of the company is scheduled on 08 March 2024 to consider and approve second interim dividend for Financial Year 2023-24, if any.

JSW Steel: The company has incorporated a new Wholly-owned Subsidiary ?JSW Green Steel? for manufacture of hot-rolled and coldrolled products of steel which is in line with the main line of business of the company.

PB Fintech: Insurance Regulatory and Development Authority of India (IRDAI), has granted Certificate of Registration to Policybazaar Insurance Brokers Private Limited (Policybazaar), a wholly owned subsidiary of the company to act as Composite Insurance Broker under IRDAI (Insurance Brokers) Regulations, 2018 (?Regulations?) with effect from 28 February 2024. With grant of new Certificate of Registration, the category has been changed from Direct Insurance Broker (Life & General) to Composite Insurance Broker.

GPT Healthcare: Shares of the company will debut on the stock exchanges today. The issue price is Rs 186 apiece.

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