Stock News: Today marks several key corporate actions and developments across the stock market. Shares of Fedders Holdings will trade ex-split, while Axita Cotton, IFL Enterprises, Mindteck, RITES, Solex Energy, and The Phoenix Mills will trade ex-bonus. Additionally, stocks like Ambika Cotton, Apex Frozen, Balu Forge, Coastal Corp, Deccan Cements, and others will trade ex-dividend.
NTPC has received board approval for major investments totaling Rs 20,921.85 crore for its Darlipali Super Thermal Power Project Stage-II (1×800 MW) and Sipat Super Thermal Power Project Stage-III (1×800 MW).
In a significant regulatory move, Axis Bank‘s subsidiary, Axis Capital, has been temporarily restrained by SEBI from undertaking new merchant banking assignments. The company has 21 days to respond to SEBI’s observations.
In the technology space, Infosys announced a Rs 17 crore investment in GalaxEye Space Solutions, a SpaceTech startup, as part of its Infosys Innovation Fund.
Tata Power is engaged in a dispute with Adaro International over a coal supply agreement, with both parties seeking compensation—Adaro claims $106 million, while Tata Power seeks $229.947 million.
IDFC First Bank received approval from the RBI to reappoint V Vaidyanathan as Managing Director and CEO for another three years, effective from December 2024.
Meanwhile, The Phoenix Mills subsidiary Casper Realty has emerged as the highest bidder for two prime land plots in Mohali, Punjab, valued at Rs 891 crore.
In other real estate news, Prestige Estates Projects has provided corporate guarantees worth Rs 545 crore to secure credit for Techzone Technologies and Thomsun Realtors.
AU Small Finance Bank has formed a new partnership with Niva Bupa Health Insurance to offer health insurance products to its customers.
Indian Overseas Bank is set to receive a refund of Rs 123.9 crore from the Income Tax Department for the 2021-22 assessment year.
Reliance Infrastructure has approved raising up to Rs 3,000 crore through equity shares or warrants convertible into equity shares, via preferential allotment and qualified institutional placement.
Geojit Financial Services has approved a rights issue at Rs 50 per share, with a 1:6 entitlement ratio.
Rane Holdings has acquired the remaining 51% stake in Rane NSK Steering Systems, making it a wholly-owned subsidiary.
IIFL Finance received permission from the RBI to resume its gold loan business, after restrictions were lifted.
Lastly, Sandur Manganese and Iron Ores has received operational consent from the Karnataka State Pollution Control Board, allowing increased manganese ore production from 0.43 MTPA to 0.55 MTPA.
