Stocks to Watch: Vedanta, Grasim, Reliance Power, Shriram Finance, Gland Pharma, and more | Stock Market News

Here’s a quick look at stocks likely to be in focus in today’s trade.

Vedanta: Vedanta, owned by Anil Agarwal, announced a board meeting scheduled for Monday, December 16, to discuss the consideration of a fourth interim dividend. This meeting was initially planned for October but was postponed due to unforeseen circumstances. Earlier this year, Vedanta declared its third interim dividend of ₹20 per share in September, following two prior payouts of ₹11 and ₹4 per share, respectively.

Grasim Industries: Grasim Industries, the flagship company of the Aditya Birla Group, has approved a Non-Convertible Debentures (NCD) issuance to raise ₹2,000 crore on a private placement basis. The decision was taken during a Finance Committee meeting on Wednesday, where the company stated it plans to issue the NCDs in one or more tranches. This move was confirmed through an official filing with the stock exchanges.

Gland Pharma: Gland Pharma has received the United States Food and Drug Administration’s (FDA) approval for its phytonadione injectable emulsion USP, 10 mg/mL in single-dose ampoules. This product is bioequivalent to Hospira Inc.’s vitamin K1 injectable emulsion and is used for treating coagulation disorders caused by vitamin K deficiencies.

Reliance Power: Reliance Power, led by Anil Ambani, announced that its subsidiary, Reliance NU Suntech Private Ltd, has secured a 930 MW solar energy project with a Battery Energy Storage System (BESS). The project was awarded through an e-reverse auction conducted by the Solar Energy Corporation of India (SECI) on December 9, 2024. The project will require a minimum storage capacity of 465 MW/1,860 MWh. SECI’s official letter of award (LoA) is awaited.

Shriram Finance: Shriram Finance has completed the sale of its 84.44 percent stake in Shriram Housing Finance Limited (SHFL) to Mango Crest Investment Ltd, an affiliate of Warburg Pincus, for ₹3,929 crore. The transaction, which has received all required approvals, represents a strategic milestone for the company.

Godawari Power: Godawari Power and Ispat have signed a seven-year agreement with GAIL (India) Ltd for the supply of regasified liquefied natural gas (RLNG). This supply will support the company’s upcoming pellet plant operations. The agreement was finalized on December 10, 2024, in Raipur and forms part of the company’s ordinary business activities.

Shakti Pumps: Shakti Pumps announced it has secured an order worth ₹754.30 crore (inclusive of GST) from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). The order involves the design, supply, and installation of 25,000 standalone off-grid DC solar photovoltaic water pumping systems under the “Magel Tyala Saur Krushi Pump Scheme.”

Greaves Cotton: Greaves Cotton concluded its board meeting on December 11, 2024, approving the Offer for Sale (OFS) component for the IPO of Greaves Electric Mobility Ltd. (GEML). The quantum of shares to be sold has not yet been disclosed. This IPO aims to position GEML for future growth in the electric vehicle market.

Sammaan Capital: Sammaan Capital has announced plans to raise up to ₹2,500 crore through equity issuance via Qualified Institutional Placements (QIPs). The decision, approved during a board meeting on December 11, aligns with SEBI’s capital issuance regulations. The funds will strengthen the company’s capital base and support its operational activities.

ACME Solar: ACME Solar Holdings secured a 250 MW firm and dispatchable renewable energy (FDRE) project in an e-reverse auction conducted by NHPC. The project, awarded at a tariff of ₹4.56 per unit, includes a greenshoe option that could expand the total capacity to 500 MW. With this addition, ACME Solar’s total portfolio now stands at 6,970 MW.