Top 10 stocks for today – 22nd March 2024

22 Mar 2024 , 08:21 AM

Here are some of the stocks that may see significant price movement today.

Tata Communications: The board of directors has approved the company’s entry into a business transfer agreement to hive off its selected new edged digital services business to its wholly owned subsidiary, Novamesh, as a going concern. The transaction is taking place on a slump sale basis for a consideration of ₹458 Crore.

Mazagon Dock Shipbuilders: The Mumbai Port Authority (MbPA) has awarded Mazagon Dock a 29-year lease for land and buildings, including workshop space and the clark basin, adjacent to the MDL Mumbai Yard. This lease will commence on April 1, 2024, and terminate on March 31, 2053, with a total cost of ₹354 Crore.

Indian Renewable Energy Development Agency: According to the business, the board of directors will meet on March 28 to examine a borrowing programme of up to ₹24,200 Crore for the fiscal year 2024-25. Borrowing comprises raising funds from both local and foreign markets by issuing bonds, term loans, commercial paper, and so on.

Hero MotoCorp: The world’s leading motorcycle and scooter manufacturer has introduced the VIDA Advantage package for its VIDA V1 Pro electric scooter. Customers may enjoy peace of mind with the VIDA Advantage package, which simplifies EV ownership.

Crompton Greaves Consumer Electricals: The Assessment Unit of the Income Tax Department has issued the company a notice of a tax demand of ₹68.67 Crore (comprising ₹57.13 Crore in tax and ₹11.54 Crore in interest) for the Assessment Year 2022-23. The impact on finances is ₹54 Crore.

Wipro: Wipro IT Services LLC, the company’s step-down subsidiary, has signed a deal with General Motors and Magna International to form a new firm, SDVerse LLC. The purchase was finalised on March 20.

Tata Chemicals: The National Faceless Assessment Centre, Income Tax Department, has issued an order imposing a ₹103.63 Crore penalty for interest disallowance. The business intends to appeal this ruling to the National Faceless Appeal Centre (appellate authorities) and anticipates favourable decisions from the appellant authorities.

Muthoot Capital Services: The business conducted a securitization deal, raising ₹61.4 Crore from the assignment of loan receivables totaling ₹66.07 Crore. This is the company’s second securitization or direct assignment transaction during fiscal year 24.

Prestige Estate Projects: Prestige Group, a Bengaluru-based real estate development business, bought 62.5 acres of property in Indirapuram Extension, NCR. The acquisition cost is ₹468 Crore, including a revenue share. The purchased site will be largely developed for residential purposes, with educational and retail components.

Bharat Dynamics: The state-owned defence corporation has issued an interim dividend of ₹8.85 per equity share for the fiscal year 2023-24, as well as the partition of the current one equity share (with a face value of ₹10) into two equity shares (with a face value of ₹5 each). The board has approved the nomination of G Gayatri Prasad, General Manager (Finance), as the company’s Chief Financial Officer following the departure of N Srinivasulu as Director (Finance) and Chief Financial Officer on January 31, 2024.

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