Kolkata: The stocks in news today include Texmaco Rail and Engineering, Biocon, NTPC Green Energy, LIC and IREDA. Indian stock market indices continued to end the day’s session on weak note with Sensex diving 856.65 points on February 24, or 1.14% and ending the day at 74,454.41 points. On the other hand, Nifty dipped 242.55 points or 1.06% to end at 22,553.35 points.
According to market experts, the market is still apprehensive of the fallout of the US government’s move for higher tariff levies, which could negatively impact India. On the other hand, FIIs too are relentlessly diluting their holdings of Indian equities. Some still consider valuations high in Indian stocks. Very heavy selling in banking, IT, telecom and other old economy sectors brought down the indices on February 24. Let’s see the stocks in detail.
Texmaco Rail and Engineering
Kolkata-based Texmaco Rail and Engineering has entered a MoU with Polish technology firm Nevomo to develop next-generation Magrail technology, AI-powered railway innovations, and linear propulsion systems. It can lead to innovation in railway infrastructure, high speed rail solutions and AI application in rail systems, and even driverless freight trains, reports said. Nevomo’s cutting-edge Magrail technology might be implemented in India through this MoU.
Biocon
The biotech major has announced that its subsidiary Biocon Biologics said that YESINTEK (ustekinumab-kfce) will be available in the US. It is a similar to Stelara (ustekinumab). With this, YESINTEK has the distinction of becoming one of the first biosimilar to enter the US markets. YESINTEK can be employed for treating Crohn’s disease, ulcerative colitis, psoriatic arthritis etc.
NTPC Green Energy
This company which handles the renewable energy business of power major NTPC has announced that it has concluded an MoU with Madhya Pradesh Power Generating Company to develop renewable energy parks and projects in Madhya Pradesh. The MoU speaks of establishing solar, wind, and hybrid energy projects in the state of Madhya Pradesh. It will also work for establishing a joint venture company to support the Renewable Generation targets of Madhya Pradesh Power Generating Company Renewable Purchase Obligation of the state’s power distribution companies.
LIC
The PSU insurance behemoth has said that it received a demand order from Assistant Commissioner, Delhi of Rs 57.28 crore GST which includes interest and penalties. The demand pertains to FY21. The amount breakdown is: GST demand of Rs 31.04 crore, interest component 23.13 crore, penalty Rs 3.10 crore.
IREDA
Indian Renewable Energy Development Agency (IREDA) shareholders have approved a proposal to raise up to Rs 5,000 crore through Qualified Institutions Placement of equity shares. The company’s board earlier approved the fundraising plan on January 23, 2025> It includes dilution of the Centre’s shareholding in the company by up to 7% post-issue equity.
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The stocks in news today include Texmaco Rail and Engineering, Biocon, NTPC Green Energy, LIC and IREDA. Indian stock market indices continued to end the day’s session on weak note with Sensex diving 856.65 points on February 24, or 1.14% and ending the day at 74,454.41 points. On the other hand, Nifty dipped 242.55 points or 1.06% to end at 22,553.35 points. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
