Market Commentary - Stock Alert
Coal India, InterGlobe Aviation, Torrent Power, RVNL in action As on : 11-Mar-24  08:48

Coal India: Coal India and Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) have executed a Memorandum of Understanding (MoU) for exploring various opportunities for securing power to meet the growing energy demand in Rajasthan.

InterGlobe Aviation: Co-founder Rakesh Gangwal reportedly plans to sell a 3.3% stake in Interglobe Aviation to raise around $450 million. The offer floor price for the proposed block deal is Rs 2,925 per share, as per reports.

UCO Bank: The public lender increased marginal cost of funds based lending rate (MCLR) and treasury bill benchmark linked lending rate (TBLR) with effect from 10 March 2024.

Torrent Power: Torrent Power announced that it has emerged as a successful bidder and received letter of award (LoA) from Maharashtra State Electricity Distribution (MSEDCL) for setting up of 306 MW grid-connected solar power project at Nasik in Maharashtra.

Rail Vikas Nigam (RVNL): RVNL announced that it has received an order from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company (MPPKVVCL) and Himachal Pradesh State Electricity Board (HPSEBL), aggregating to Rs 1,139.61 crore.

Gujarat Gas (GGL): The company said that it has entered into a memorandum of understanding (MoU) with Bharat Petroleum Corporation (BPCL) for offering liquid fuels, automotive lubricants and expanding CNG infrastructure.

H.G. Infra: The National Highways Authority of India (NHAI) declared H.G. Infra as the L-1 (lowest) bidder for the project. The project involves constructing an access-controlled highway with four lanes and paved shoulders along a stretch of NH-716 and NH-71.

MSTC: MSTC said that Acuit? has reaffirmed the long-term rating of ?ACUITE A+? and reaffirmed the short-term rating of 'ACUITE A1+? on the bank facilities of the company with ?stable? outlook.

Lemon Tree Hotels: The company has signed a license agreement for upcoming hotel in Coimbatore, Tamil Nadu under the company?s brand, Keys Lite by Lemon Tree Hotels. The hotel will feature 40 well-appointed rooms, a restaurant and a meeting room. It is expected to open in FY26.

Dilip Buildcon: Dilip Buildcon said that it has been declared as lowest bidder (L-1) by National Highways Authority of India for Rs 548 crore project on hybrid annuity basis in Tamil Nadu.

KPI Green Energy: The company was awarded a contract for a 305 MWac solar power project in Gujarat. The project is scheduled to be completed in the financial year 2025-26.

Poly Medicure: Poly Medicure announced that its board has approved to raise funds aggregating up to Rs 800 crore through various modes.

Servotech Power Systems: Servotech Power Systems said that it has secured a technical collaboration with a leading international company to bolster the nation's self-sufficiency in critical EV charger components.

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