Kolkata: The stocks in news today (February 21) include Religare Enterprises, Bharat Light and Power, Kotak Mahindra Bank, JM Financial, Bharat Electronics for various corporate developments. On February 20, the Indian stock market extended its declining streak for the third straight day when benchmark indices ended the session in the red. Sensex climbed down 203.22 points or 0.27% to settle at 75,735.96 points and Nifty inched down 19.75 points or 0.86% to close at 22,913.15 points.
“Domestic equity indices experienced minor losses as rising concerns over potential US tariffs on Indian goods led to capital outflows. Additionally, the proposed trade policy is expected to exert inflationary pressures, with the latest Fed Minutes indicating that an interest rate cut may be delayed,” remarked Vinod Nair, Head of Research, Geojit Financial Services to describe the day’s trading session.
Religare Enterprises
On February 20, Burman Group announced that it has acquired control of Religare Enterprises and described as its promoters. “We are pleased to announce that we have acquired control of Religare Enterprises Limited (REL) and been designated as its promoters. We are grateful to our regulators, shareholders and other stakeholders for their trust and confidence,” mentioned the group in a statement, adding their priority is to bring back stability, governance and sustainable growth. The open offer of the Burmans of Rs 2,116 crore for the acquisition of additional 26% stake in Religare triggered tepid response.
Bharat Light and Power
Bharat Light and Power and NTPC Green Energy signed a MoU on February 19 to implement green energy projects in the country. The understanding is to explore the consumption of green hydrogen and its derivatives from NTPC Green Energy (NGEL) and affiliates to third parties. NGEL and/or affiliates would erect infrastructure required for the green hydrogen project including renewable energy projects and regular operation under BOO mode.
Kotak Mahindra Bank
Kotak Mahindra Bank has made changes in the leadership structure in its crucial Consumer Banking operations. The person heading the Head of Products will be Vyomesh Kapasi and Shahrukh Todiwala is the new Managing Director and Chief Executive Officer of Kotak Mahindra Prime Limited.
JM Financial
JM Financial has confirmed receiving a tax order that it would get a refund of Rs 230 crore for the assessment year 2008-09. It also includes an interest component. The order was issued by the Deputy Commissioner of Income Tax on February 19. It has been issued under Section 254 read with Section 143(3) of the Income-tax Act, 1961.
Bharat Electronics
PSU Bharat Electronics has concluded an agreement with the Ministry of Defence to supply Software Defined Radios and Data Communication Terminals to the Indian Coast Guard. The order has been valued at Rs 1,034 crore. However, it excludes taxes, the PSU mentioned in its communication to the exchanges.
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The stocks in news today (February 21) include Religare Enterprises, Bharat Light and Power, Kotak Mahindra Bank, JM Financial, Bharat Electronics for various corporate developments. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
