Stocks To Watch On February 29: Weak global market trends caused selling in bank stocks and index heavyweights to send benchmark indices plunging more than 1% on Wednesday. Due to news-related developments, shares of RIL, Shriram Finance, GPT Healthcare, Coal India, and Oil India, among others, will be the focus of today's activity.
"Reliance, Viacom18, and Disney Forge Entertainment Mega-Deal"
Reliance Industries: On Wednesday, Reliance Industries, Viacom18 Media, and The Walt Disney Corporation signed a joint venture deal to combine the digital streaming and television divisions of Viacom18 and Star India, forming an entertainment powerhouse in the country.
"Coal India, BHEL Join Forces for Ammonium Nitrate Plant Venture"
A joint venture agreement has been announced by Coal India and Bharat Heavy Electricals to establish an ammonium nitrate plant as part of their intended coal-to-chemical venture. Coal India will own 51% of the joint venture, while BHEL will own 49%.
Venus Pipes: The company has ventured into the stainless steel fittings and pipes industry. At a total capital expenditure of Rs 175 crore, it would launch a specialist product line of titanium and stainless steel welded tubes.
ICICI Securities: In relation to the examination of books and records for the Merchant Banking operations, SEBI has sent the business an administrative warning.
Greenply Industries: The government’s trade mark registrar has granted its main brand Greenply the designation of “well-known trademark.”
The board of Oil India, a state-owned enterprise, will convene on Friday, March 8, to deliberate and announce a second interim dividend for the fiscal year 2024.
Brightcom Group: Market watchdog Sebi issued confirming orders prohibiting managing director and promoter-turned-chairman Suresh Kumar Reddy from serving in any directorial capacity for an extended period of time.
NTPC: NTPC ARM In order to construct renewable energy parks in Maharashtra, NTPC Green and Maharashtra State Power Generation Co. (MAHAGENCO) have inked a joint venture agreement.
NSE index rejig: Effective March 28, 2024, Shriram Finance will take UPL’s spot in the Nifty50 index under the NSE index rejig.
Adani Power, Indian Railway Finance Corporation, Jio Financial, Power Finance Corp, and REC will be included in the Nifty Next 50 Index. Adani Wilmar, Muthoot Finance, PI Industries, Procter & Gamble Hygiene, and Shriram Finance will take their place.
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