Stocks in the news: NTPC, IndiGo, GMDC, Hinduja Global and Federal Bank

Nifty futures on the Singapore Exchange traded 110 points, or 0.64 per cent lower at 17,170, signaling that Dalal Street was headed for a negative start on Monday. Here are a dozen stocks which may buzz the most in today’s trade:


InterGlobe Aviations: IndiGo’s co-founder Rakesh Gangwal has stepped off its board and will sell his holdings in the airline over about five years, he said. His letter to the board came barely two weeks after his partner Rahul Bhatia, with whom he has sparred for long, assumed the position of managing director.


HDFC Bank: The private lender said that Srikanth Nadhamuni has resigned as a director from its board, citing potential future interests. Nadhamuni has tendered his resignation as non-executive (non-independent) director of HDFC Bank vide his resignation letter dated February 18, 2022.

HCL Technologies: The IT company has extended its relationship with The Royal Automobile Club of Victoria (RACV) with a multi-year agreement to provide Integration-as-a-Service offering. The company did not divulge the size of the contract.

NTPC: The state-run power giant said it surpassed the maximum annual electricity generation of 314 billion units achieved in 2020-21 on February 18. NTPC has recorded a generation of 314.89 billion units upto 18th February 2022, surpassing the maximum annual generation of 314 BU achieved in 2020-21.

Federal Bank: A subsidiary of the private lender, Fedbank Financial Services Ltd (FedFina), has filed preliminary papers with Sebi for its initial public offering. The draft red herring prospectus was filed with the capital markets regulator on February 19, 2022, Federal Bank said in a regulatory filing.

Escorts: The tractor maker will receive Rs 1,872.74 crore from Kubota Corporation as it approved preferential allotment of 93.63 lakh equity shares at Rs 2,000 per share. After the allotment, Kubota Corporation holds 16.39 per cent stake in the company.

Indian Oil Corportaion: India’s largest oil firm will set up ‘green hydrogen’ plants at its Mathura and Panipat refineries by 2024 to replace carbon-emitting units as it sees the just announced green hydrogen policy as a watershed moment in the country’s energy transition that will help cut costs.

Ashok Leyland: The Hinduja Group flagship firm plans to set up a new manufacturing facility in the country to roll out electric vehicles. The Chennai-based firm has also lined up a Rs 500 crore investment to develop powertrains based on alternative fuels like CNG, hydrogen and electric for its commercial vehicles range.

Bharat Petroleum Corporation: The oil marketing player has launched 10 EV fast-charging corridors on the 900-km long Chennai–Trichy–Madurai highway. The first phase launch on Chennai–Trichy–Madurai highway will be followed by key routes, which have high existing motorist traffic and a propensity for transition to travel by electric vehicles,

Gujarat Mineral Development Corporation: The leading mining PSU and the largest lignite seller in the country, has received the approval from the environment ministry to mine the Tadkeshwar lignite block in Gujarat up to the depth of 135 meters. The company had earlier received approval to mine the lignite block up to the depth of 94 meters.

Equitas Small Finance Bank: The private lender said it has fixed the price for its proposed QIP issue at Rs 53.59 per share. The bank in October 2021 had said that it will raise up to Rs 1,000 crore through a qualified institutional placement (QIP) in order to fulfil the regulatory norms regarding minimum public shareholding.

The Phoenix Mills: The real estate player will make Classic Mall Development Company as its wholly owned subsidiary after buying 50 per cent stake from Crest Ventures and Escort Developers for Rs 918 crore in the subsidiary which owns Phoenix Market city Chennai with chargeable area of approximately 1 million square feet in Velachery, Chennai.

Hinduja Global Solutions: The BPO/KPO player said its UK arm has bagged a contract worth Rs 2,100 crore to provide critical customer support to UK citizens for an initial period of two years.

Godrej Properties: The realty firm has committed investments worth USD 700-900 million in the last three years and continues to be extremely bullish on the Indian real estate sector.

NHPC: The state-owned hydro power giant has incorporated a wholly-owned subsidiary for clean energy business, including green hydrogen. The new company — NHPC Renewable Energy Ltd — was registered with Registrar of Companies, NCT of Delhi & Haryana, on February 16, 2022.

Puravankara: The realty firm’s sales bookings rose 17 per cent to Rs 666 crore in the third quarter of this fiscal year on the back of higher volumes as well as per square feet price realization. Puravankara sold 0.99 million square feet area during October-December 2021-22 as against 0.91 million square feet area in the year-ago period.

Power Finance Corporation: Life Insurance Corporation of India sold 2.02 per cent stake in the company via open market transactions. As a result, its shareholding in the company reduced to 5.06 per cent, from 7.09 per cent earlier.

Kalpataru Power Transmission: The global power transmission and infrastructure player announced a merger with JMC Projects (India) Ltd which will create one of the largest engineering, procurement and construction (EPC) companies in the country. The merger process is expected to be completed in Q4 FY23.

Sterlite Technologies: The digital networks integrator expects about 20 per cent growth in business across key markets of the US, Europe and India in FY2023 amid global scale-up of networks and 5G build outs.

Kansai Nerolac Paints: The paint maker has appointed Anuj Jain as its Managing Director with effect from April 2022. Incumbent Managing Director and Vice-Chairman H M Bharuka retires on March 31, 2022, on completion of his term.

Future Retail: The debt-ridden company of Kishore Biyani’s Future Group has made a payment of $14 million (about Rs 105 crore) for interest due on the dollar-denominated notes (USD Notes) listed on the Singapore Stock Exchange after missing the due date last month.

HDIL: The crisis-hit realty firm, which is facing insolvency proceedings, said its resolution professional has received 16 bids from nine applicants to acquire the company. In a regulatory filing, HDIL informed, “The Resolution Professional of the company has received sixteen resolution plans from nine Prospective Resolution Applicants.”

Hazoor Multi Projects: The company has bagged order worth Rs 6.54 crore from Varaha Infra. The work order is for completion of balance work of ‘national highway No 548-A from section Waken Pali to 2 lane with paved shoulder