Kolkata: The stocks in news today include M&M, SpiceJet, Tata Power, Waaree Energies, Bharti Airtel. SpiceJet has announced its Q3 FY25 results. On February 25, Sensex ended the day’s trading session at 74,602.12 points, up 147.71 points or 0.20%, while Nifty 50 index closed at 22,547.55, down by 5.80 points or 0.03%. Financial and auto stocks gained on Tuesday.
M&M
Mahindra South Africa, a subsidiary of the Indian auto major M&M, has concluded an MoU (Memorandum of Understanding) with Industrial Development Corporation to conduct a feasibility study on setting up a CKD (completely knocked down) vehicle assembly facility in that country. Mahindra South Africa is also going to increase its production capacity at its facility by AIH Logistics in KwaZulu-Natal province. “Reaching the milestone of our 25,000th locally assembled Pik Up is (a) testament to Mahindra’s growing footprint and long-term commitment to South Africa,” Rajesh Gupta, CEO of Mahindra South Africa told the media.
SpiceJet Q3 result
On February 26, budget airline SpiceJet reported a net profit of Rs 26 crore for the Q3 FY25 period. The figures are a marked improved over the Q3 FY24 period when it made a of Rs 300 crore. The company’s total revenue was recorded Rs 1,077 crore in the 2024 July-September period. Compared to Rs 2,149 crore revenue for the Q3 FY24 period, total revenue is lower in the Q3 FY25 period. “Total revenue surged by 35 per cent to Rs 1,651 crore, driven by strong passenger demand, improved yields and enhanced operational efficiency. Passenger Load Factor (PLF) stood at an impressive 87 per cent,” the airline said in a release.
Tata Power
Moody’s Ratings has affirmed the Tata Group firm’s corporate family rating of Ba1 and changed the outlook from stable to positive. This could be a shot in the arm for the company’s shares. Tata Power has also announced signing an MoU with the Assam government to develop about 5,000 MW of renewable energy such as solar, wind, hydro, and energy storage. The investment will be about Rs 30,000 crore. Tata Power stock is down 10.54% this year, but in the past five years, it generated returns of 579%.
Waaree Energies
Waaree Energies has announced that it has received an order to supply 410 MW of solar PV modules from a wholly-owned subsidiary of Aditya Birla Renewables. The contract requires Waaree Energies to supply solar modules for renewable power projects across India. The deliveries will begin in 2025-26. Waaree Energies is known as the largest manufacturer of solar PV modules in India. It operates across India and more than 25 countries.
Bharti Airtel
On February 26, Bharti Airtel said that it is in talks with the Tata Group to chalk out a potential merger of Tata Play and Bharti Telemedia. In a regulatory filing Airtel mentioned, “We wish to submit that we are in talks to explore a potential transaction to achieve a combination of Tata Group’s direct-to-home (DTH) business, housed under Tata Play, with Bharti Telemedia, a subsidiary of Airtel, in a structure acceptable to all parties.”
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The stocks in news today include M&M, SpiceJet, Tata Power, Waaree Energies, Bharti Airtel for corporate developments. SpiceJet has come out with its Q3 FY25 financial results. On Tuesday, February 25, Sensex ended the day’s trading session at 74,602.12 points, up 147.71 points or 0.20%, while Nifty 50 index closed at 22,547.55, down by 5.80 points or 0.03%. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
