1 hr ago
Stocks in Focus: Sterlite Tech, Nykaa, JSW Cement, Others
Several Indian companies may attract investor attention on Friday, September 25, after announcing new business developments.
Dr Lal PathLabs plans to buy most of SN Genelab.
LCC Projects won the top bid for a large irrigation project in Rajasthan.
Nykaa and L’Oréal’s investment fund plan to support new Indian beauty brands.
JSW Cement received a tax notice alleging that it paid too little GST.
Sterlite Technologies introduced more fiber products for data centers.
Nava started a 100 MW solar project in Zambia.
Mahindra Finance plans to raise up to ₹2,000 crore through debentures.
These announcements come after Indian stock indexes fell sharply on Thursday.
Dr Lal PathLabs will acquire a 70% stake in SN Genelab for up to ₹168 crore, plus a potential ₹31.5 crore earn-out.
LCC Projects emerged as the lowest bidder for Rajasthan’s ₹653.34 crore Chhoti Kalisindh Medium Irrigation Project.
Nykaa and L’Oréal’s BOLD fund will jointly invest in high-growth Indian beauty and personal care brands.
JSW Cement received a tax notice proposing ₹229.85 crore in GST, interest and a 10% penalty over alleged classification errors.
Sterlite Technologies expanded its data-center portfolio, while Nava commissioned a 100 MW solar plant in Zambia and Mahindra Finance approved ₹2,000 crore of NCDs.
- Who
- Dr Lal PathLabs, LCC Projects, Nykaa, Sterlite Technologies, JSW Cement, Nava and other listed companies.
- What
- The companies announced acquisitions, project awards, product expansion, fundraising, investment plans and regulatory developments that could influence trading.
- Where
- The companies operate or announced projects in India, including Rajasthan and Jammu, as well as Zambia.
- When
- The developments were reported on Thursday, September 24, with investors expected to monitor the stocks on Friday, September 25.
- Why
- The stocks are in focus because of their latest corporate announcements and a sharp fall in Indian equity markets.
Key facts
- Market close
- The Nifty 50 fell 1.64% to 25,169.50 and the Sensex declined 1.67% to 73,580 on Thursday.
- Dr Lal PathLabs acquisition
- The company will acquire 70% of SN Genelab for up to ₹168 crore, with an additional earn-out of ₹31.5 crore.
- LCC Projects order
- LCC Projects was the L-1 bidder for the ₹653.34 crore Chhoti Kalisindh Medium Irrigation Project in Rajasthan.
- Nykaa collaboration
- Nykaa and L’Oréal’s BOLD fund will jointly invest in emerging Indian beauty and personal care brands.
- JSW Cement tax notice
- The proposed GST demand is ₹229.85 crore, plus applicable interest and a 10% penalty, for April 2022 to March 2024.
- Nava solar plant
- Nava’s step-down subsidiary Maamba Solar Energy commissioned a 100 MW solar plant in Zambia.
- Mahindra Finance fundraising
- The company approved up to ₹2,000 crore of secured, rated, listed and redeemable non-convertible debentures through private placement.
Sources
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