2 weeks ago

Jio Financial, Groww, Laurus Labs Lead Stocks in Focus

Jio Financial, Groww, Laurus Labs Lead Stocks in Focus
Stocks in focus today: Jio Financial, Groww, Laurus Labs, Airtel, Texmaco Rail · thehindubusinessline.com

Every day, newspapers and apps tell people which company shares to watch in the stock market.

Today's list talks about some big Indian companies.

One big thing: Bank of America, a huge American bank, is buying almost half of Jio's lending business called Jio Credit.

That means they will own 49.9 out of every 100 parts of that business.

It costs them a lot of money: 1.9 billion dollars.

Some companies like Groww and Laurus Labs got a special invitation to join a world-famous list of companies called the MSCI India Index.

Other companies like SBI Cards and Astral had to leave that list.

A phone company called Airtel stopped selling some cheaper prepaid plans, so customers may have to pay more.

Some companies got big orders to build things, like a hospital and railway wagons.

When big news like this happens, people who own these shares watch closely to see if prices go up or down.

Key facts

Jio-BofA Deal
Bank of America to acquire 49.9% stake in Jio Credit for USD 1.9 billion (Rs 18,268 crore)
MSCI India Index
Groww and Laurus Labs added; SBI Cards & Payment, Astral and Balkrishna Industries removed
Airtel Plans Discontinued
Rs 299, Rs 319, Rs 579, Rs 619 and Rs 649 prepaid plans
Krystal-Citelum Deal
100% equity stake in Citelum India acquired; targets Rs 300-350 crore annual revenue in 3-4 years
Texmaco Order
Rs 77.76 crore from Ivc Logistics Limited for ACT1 and BVCM wagons
Diamond Power LoI
Rs 61.03 crore from Purvanchal Vidyut Vitran Nigam for 33 kV HT XLPE cable
Vascon Order
Rs 126.39 crore for a 300-bed general hospital in Wardha, to be executed within 24 months

Sources

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