MARKET UPDATES & STOCKS To WATCH:
Hero MotoCorp:
The company extended its partnership with Harley-Davidson Motor to expand the Harley-Davidson into new variants and to develop a new motorcycle.
JSW Energy:
The company's arm JSW Neo Energy acquired a 4,696 MW renewable energy platform from 02 Power Midco Holdings and 02 Energy SG for Rs 12,468 crore.
Max Financial:
Axis Max Life decided to discontinue the operations of Max Life PFM as a pension fund manager. The decision is taken by Axis Bank, as the bank is already an established pension fund manager.
SJVN:
The company appointed Sanjay Kumar as chief financial officer effective Jan.
VODAFONE IDEA:
- Department of Telecommunications waived the requirement of Bank Guarantees (BGs) to be submitted for spectrum auctions held before the 2021 telecom reforms
- Vodafone Group clears Rs 11,650 Cr dues, releases pledged shares in Vodafone Idea
- Vodafone Group has 22.56% stake
- As of June 30, 2024, VIL's payment commitment to the government was Rs 2,09,520 crore
CAMS: Pullakurthi Srinivasa Reddy resigns as CTO.
Reliance Infrastructure: Axis Bank and IDFC First Bank invoke arm's right of substitution for Maharashtra Road project.
IOL Chemicals and Pharmaceuticals: The board approved the subdivision of each share into five.
Prestige Estates: The company signed a business transfer agreement to transfer the hospitality undertaking to its arm, Prestige Hospitality Ventures, for Rs 313 crore.
Utkarsh small finance Bank: The bank approved the sale of NPA and written-off loans worth Rs 355 crore at a reserve price of Rs 52 crore to the asset reconstruction company.
NAVA: The board has fixed Jan. 20 as record date for stock split.
The quarterly rebalancing of the Nifty indices is scheduled for December 30, 2024, during the last trading hour:
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