What to Watch in the Indian Stock Market Today
Here are just a few of the stocks to watch on July 11. Investors should carefully monitor these stocks and make sure to do their own research before making any investment decisions.
Vedanta and Foxconn call off $20 billion semiconductor plant
Vedanta and Foxconn have called off their plans to build a $20 billion semiconductor plant in India. The two companies had been in talks for several years, but the project was ultimately scrapped due to financial and logistical challenges.
Zee Entertainment merger on hold as creditors object
The merger between Zee Entertainment and Sony Pictures has been put on hold after creditors objected to the deal. The creditors, who are owed billions of rupees by Zee, say that the merger would not be in their best interests.
TCS delays onboarding of lateral hires
Tata Consultancy Services (TCS) has delayed the onboarding of several lateral hires by at least three to four months. The IT giant has been making lateral hires with 1.8 to 15 years of experience, but the onboarding process has been delayed due to a number of factors, including the ongoing pandemic.
SBI to sell 2% stake in NSDL
State Bank of India (SBI) has announced that it will sell a 2% stake in National Securities Depositories Limited (NSDL). The stake sale is worth around Rs. 800 crore and is part of SBI’s plan to raise capital.
L&T and Navantia team up for P75 submarine program
Larsen & Toubro (L&T) and Navantia have signed a teaming agreement to jointly bid for the Indian Navy’s prestigious P75 (India) submarine program. The program is worth around Rs. 60,000 crore and the two companies are confident of winning the contract.
SpiceJet and Maran Group continue legal battle
The legal battle between SpiceJet and its former promoter, the Maran Group, continues. The Maran Group has said that there is no question of an amicable settlement with SpiceJet and that the matter will be decided in court.
Tata Communications to acquire remaining stake in eSIM company OSSE France
Tata Communications has announced that it will acquire the remaining 41.9% stake in eSIM company OSSE France for Rs. 99.3 crore. The acquisition will give Tata Communications 100% ownership of OSSE France and will help the company expand its eSIM business.
Nazara Technologies to raise up to Rs. 750 crore through equity shares
Online sports platform Nazara Technologies has announced that it will raise up to Rs. 750 crore through equity shares. The funds will be used to expand the company’s business and to acquire new assets.
Taylormade Renewables to migrate to BSE main board
Taylormade Renewables has announced that it will migrate its equity shares from the BSE SME platform to the main board of BSE. The move is subject to necessary approvals and eligibility criteria prescribed by the BSE/SEBI.
Max Ventures and Industries sells properties worth Rs. 1,800 crore
Max Ventures and Industries’ real estate arm, Max Estates, has sold properties worth Rs. 1,800 crore in its luxury housing project at Noida, Uttar Pradesh. The project is spread over 10 acres and has three high-rise towers with 201 units.
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