TORRENT GROUP

Rupee rises 4 paise to 83.06 against US dollar in early trade

The rupee appreciated by 4 paise to 83.06 against the US dollar on Monday, supported by the weakness of the American currency. Elevated crude oil prices restricted the upmove. The Adani Group plans to raise USD 3.5 billion through a Qualified Institutional Placement.

Reliance Capital administrator seeks 90-day extension from NCLT to implement resolution plan

Reliance Capital's administrator has filed a request for a 90-day extension to implement a resolution plan submitted by the Hinduja Group, which was approved by the National Company Law Tribunal (NCLT) Mumbai. The resolution plan, approved by the tribunal, was for IndusInd International Holdings Ltd's Rs 9,650-crore plan. Reliance Capital's board was replaced by the Reserve Bank in November 2021 due to governance issues and payment defaults. The company's debt is over Rs 40,000 crore.

Stocks in news: ITC, IndiGo, Grasim, Power Grid, Nykaa, Gland Pharma

Grasim Ltd, part of the Aditya Birla Group, reported 39% growth in its consolidated net profit (excluding exceptional item) at Rs 1,908 crore for the quarter ended March 2024.

Reliance Capital Administrator seeks 10 days extension from RBI to transfer assets to Hinduja Group

The National Company Law Tribunal (NCLT) Mumbai, while approving the resolution plan on February 27, directed IndusInd International Holdings Ltd to implement it within 90 days ending May 27.

Cipla promoters to sell up to 2.53% for Rs 2,637 crore

The move, days after the company posted its best annual results, has triggered speculation that more such transactions could be in the offing. The collapse of the $7 billion sale last year after lengthy negotiations had reportedly led to divisions within the family, according to people with knowledge of the matter.

Promoter group entities likely to sell 2.5% stake in Cipla worth Rs 2,637 crore via block deals: Report

The price range of the block is fixed at Rs 1,289-1,357, taking the total deal value to around Rs 2,637 crore.

Irdai gives in-principle nod for Hinduja Group-led IIHL bid for Reliance Capital takeover

The Insurance sector regulator IRDAI has conditionally approved Hinduja Group's IndusInd International Holdings Ltd (IIHL) for the acquisition of debt-ridden Reliance Capital.

IndusInd promoter company to raise stake in bank to 26%

IIHL, an investment arm of the Hinduja brothers, aims to improve valuation of its investment to $50 billion by 2030. IIHL has already received RBI nod to raise its state in IndusInd Bank to 26%. The investment arm also plans to grow life and non-life businesses, start its health insurance operations and will retain Reliance Securities and ARC businesses.

What drives the sector is key to long term investments: 5 large cap stocks from different sectors with upside potential up to 19%

There are some sectors where the macro structure is such that for one or the other reasons the overall growth is higher. This is not to say that growth comes without phases of slowdown, but when tailwinds come they are able to take care of all the slowdown and over a period of time, growth is much better. The growth over a period of time ensures that in bearish markets the stocks are able to perform relatively well and when bulls are back they again are able to inch higher.

Torrent's Mehta family pledges Rs 5,000 crore to UNM Foundation

The Mehta family of the Torrent Group has pledged to donate Rs 5,000 crore over five years to the UNM Foundation in honor of founder U N Mehta's birth centenary. Mehta overcame personal challenges to build a successful business, and the foundation will focus on various social causes without discrimination.

SKS Power resolution faces roadblock as HC orders CBI probe

Torrent Power and Sharda Energy and Power are the two entities in the fray to acquire the 600 MW power generation company. The committee of creditors last year approved a ₹1,800-crore debt resolution plan for Sharda Energy. However, Torrent Power claimed it gave a higher offer and alleged an improper sale process.

Deven Choksey on what he likes about Adani Ports, Torrent Pharma now

Deven Choksey discusses the positive trajectory of Adani Ports, Torrent Pharma's strategic growth approach, and Tata Consumer's market readiness. The evolving market dynamics favor strategic expansions and operational stability for these key players. Choksey further says that automobile ancillaries give a good amount of opportunity at this point of time.

Stocks in news: Indian Hotels, RailTel, Dr Lal PathLabs, Torrent Power, Lupin

RailTel received an order worth Rs 352 cr from BMC for supply, operations and maintenance of the health department of the corporation.

Electoral trusts since 2014 have also weighed in favour of BJP

The examination of corporate donations to political parties via electoral bonds reveals significant contributions to the ruling BJP through trusts like Prudent. Major donors include Serum Institute of India, Greenko energy, Essel Mining, Vedanta, Airtel Bharti, Torrent, Tatas, and Reliance.

Torrent Power emerges as successful bidder to supply 388 MU power during crunch period in summers

Torrent Power has been awarded a contract to supply electricity from its gas-based plant during the high power demand period. It is part of the government's Crunch Period scheme to overcome power demand during summer months. The company has a presence across the power value chain and is also involved in renewable projects.

Torrent Power, Lanco emerge as lowest bidders in gas-fired power auction

Torrent Power's DGEN Power plant and Lanco Group were among the lowest bidders in an auction to supply natural gas-fired power during peak electricity demand in India, a document revealed. India, predominantly reliant on coal for electricity generation, is turning to gas-fired power amid fears of shortages during Prime Minister Narendra Modi's election year.

Torrent, three others in race for Stride Climate

Green energy producers, including Torrent Power, Sembcorp, JSW Neo Energy, and Actis, are in talks to acquire Stride Climate Investments. Macquarie Group is also selling Vibrant Energy. India's renewable energy capacity is expected to increase to 170 GW by March 2025.

How Gujarat is becoming the hub for EV manufacturing in India

Gujarat's EV ecosystem is expanding owing to investments in manufacturing, charging infrastructure, and battery technology. MG Motors, Maruti Suzuki, and Tata Motors has set up their plants in the state. Besides, public charging stations have also increased to over 600. Many startups are also contributing to the EV ecosystem of the state.

Sectoral tailwinds and stronger balance sheets: 5 largecap stocks with right mix of two important ratios

There are some sectors where large players have an edge, because the nature of the business is such that there are phases where ability to stay in the game and cash on the balance sheet matter most. When the tide turns in favor of that sector, these large companies are able to make most of it. One sector which has gone through a phase of realignment of business and readjustment of valuations for many years and has once again come in limelight is the pharma space. Right from ability to deal with USFDA, not rely just on product segment to how to deal with uncertainty of supply chain which is dependent on China, Indian pharma companies have come a long way.

Torrent Group signs MoUs to invest Rs 47,000 crore in Gujarat

Torrent Group, based in Ahmedabad, has signed four non-binding memorandums of understanding (MoUs) with the Gujarat government. The MoUs cover renewable energy, pump storage hydro projects, green hydrogen production, and power distribution, with a total investment exceeding Rs 47,000 crore. The projects are expected to generate over 26,000 direct and indirect jobs in Gujarat.

Sensex gains 250 points, Nifty above 21,600; Torrent Power rises 6%, Ujjivan SFB 5%

Electrifying Show! This sector outshines in December as 16 stocks give double-digit returns

The S&P BSE Utilities index rallied 20% and hit a fresh lifetime high of 4825.36 points during the month, whereas S&P BSE Power index surged more than 18% and scaled a fresh lifetime high of 5869.23 points.

Brookfield, Cerberus, Deutsche Bank among lenders keen to fund Hindujas’ Reliance Capital bid

While major lenders have offered term sheets of up to ₹6,000 crore, smaller funds have shown interest in providing loans ranging from ₹800 crore to ₹1,000 crore, contributing to the larger financing package.