Stocks To Watch: IndusInd Bank, HCL Tech, Hyundai, Wipro, RVNL, SBI Life, And Others

Power Grid: Power Grid Corporation announced its acquisition of Banaskantha Transco Limited, the Project SPV for augmenting transformation capacity at Banaskantha (Raghanesda) PS (GIS), on a build, own, operate, and transfer (BOOT) basis from REC Power Development and Consultancy Limited (RECPDCL). The project includes ICT augmentation works at the Banaskantha (Raghanesda) PS (GIS) in Gujarat.

Indian Overseas Bank (IOB): IOB has completed the closure of the issue period for its Qualified Institutional Placement (QIP). The Committee of Directors has approved an issue price of Rs 40.57 per equity share for 35,41,77,539 equity shares allotted to eligible Qualified Institutional Buyers (QIBs).

HCL Technologies: The technology company has entered into a strategic partnership with Western Union to drive innovation and transformation in the financial services industry. The partnership includes establishing an advanced technology center in Hyderabad, India, to enhance Western Union’s global technology capabilities.

ICICI Bank: ICICI Securities, a subsidiary of ICICI Bank, has been delisted from the stock exchanges effective March 24.

Wipro: Wipro has announced AI-driven autonomous agents for Agentforce to revolutionize experiences for patients, providers, payers, and healthcare companies, while easing administrative burdens across the healthcare industry.

IndusInd Bank: The CGST and Central Excise department in Thane has imposed a penalty of Rs 30.15 crore on IndusInd Bank for various GST-related issues. The bank is exploring the option of filing an appeal.

Britannia Industries: Operations at Britannia’s Jhagadia plant in Gujarat have been partially impacted due to a strike that began on March 24. The company is in ongoing discussions with workers to resolve the matter amicably and is managing demand through available resources.

Hyundai Motor India: The automaker’s board has approved an investment of up to Rs 694 crore to establish and operate a Tooling Centre in India.

SBI Life Insurance Company: SBI Life has received an Income Tax Order from the Income Tax Department, demanding Rs 431 crore in taxes and interest.

Brigade Enterprises: Brigade Enterprises has acquired a 4.4-acre land parcel in East Bengaluru for a residential project, with a total development potential of 0.6 million square feet and a gross development value of approximately Rs 950 crore.

Rail Vikas Nigam: Rail Vikas Nigam has emerged as the lowest bidder for a Central Railway project worth Rs 115.79 crore. The project involves modifying the OHE (Overhead Equipment) to upgrade the existing 1×25 KV electric traction system to 2×25 KV in the Itarsi-Amla section, Nagpur division.

NHPC: NHPC has completed the trial run of Unit-2 (200 MW) of the Parbati-II HE project in Himachal Pradesh. The remaining three units are expected to complete their trial runs by March 31, 2025.

Central Bank of India: The public sector lender opened its Qualified Institutions Placement (QIP) on March 24, with a floor price of Rs 42.62 per share.

BLS International: BLS International has announced that its equity shares will be suspended from trading on March 31, 2025, and subsequently delisted from the Capital Market Segment of MSEI on April 7, 2025.

Garden Reach Shipbuilders and Engineers: The defence company has signed a contract with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG, Germany, for the construction and delivery of the 7th and 8th multi-purpose vessels (MPVs) of 7,500 DWT in Hamburg, Germany.

Bank of India: Bank of India has decided to exercise the green shoe option for $100 million, split into two tranches of $50 million for 3 years and $50 million for 5 years. The funds, expected to be received by March 27, will be used for general corporate purposes, including on-lending at overseas branches.

Aditya Birla Capital: The National Company Law Tribunal in Ahmedabad has sanctioned the scheme of amalgamation of Aditya Birla Finance with the parent company.

Easy Trip Planners: The company has received in-principle approval from its Board to acquire a 49% stake in Big Charter, a leading player in India’s charter aviation sector. The Board also approved infusions into the company’s subsidiaries in Brazil and Saudi Arabia.

Matrimony.com: Matrimony.com’s Board has declared a special interim dividend of Rs 5 per share to mark the company’s Silver Jubilee year. The record date for dividend eligibility is set for March 28.

Restaurant Brands Asia: The QSR company opened its Qualified Institutions Placement (QIP) on March 24, with a floor price of Rs 62.32 per share. The base issue size is Rs 400 crore, potentially rising to Rs 500 crore.

SEAMEC: Larsen and Toubro has awarded a letter of award (LoA) to the SEAMEC and Posh India Offshore consortium for subsea installation works in ONGC’s DUDP & PRPVIII projects, with completion expected by May 2026.

Punjab & Sind Bank: The state-run lender launched its QIP on March 24, with a floor price of Rs 40.38 per share.