Big Market Moves: Companies Announcing Deals, Acquisitions, and Investments

Stocks to Watch on March 18: JSW Energy, Bajaj Finserv, IREDA, Vedanta, and More

The domestic equity market is expected to begin on a positive note on Tuesday, March 18, tracking favorable global cues.

Market Opening Trends

At 7:37 AM, GIFT NIFTY futures were trading at 22,745, up 4 points (0.02%), indicating a 160-point higher opening for the NIFTY50 index.

• US stocks gained for the second consecutive session overnight as investors analyzed economic data to assess the impact of Trump administration policies.

Key Stocks in Focus

Vedanta: Demerger Plans and Growth Potential

Vedanta Ltd’s Chairman Anil Agarwal reiterated the company’s commitment to unlocking value, highlighting that its four demerged entities have the potential to become $100 billion companies each.

• The proposed demerger will lead to the formation of four independent companies, each focused on natural resources, with distinct management, capital structures, and strategic priorities.
• In a letter to shareholders, Agarwal emphasized the importance of pure-play businesses, stating that the demerger will help streamline operations and maximize shareholder value.

Bajaj Finserv: Acquires Stake in Insurance Units

Bajaj Finserv Ltd has signed share purchase agreements to acquire a 26% stake in Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance from Germany’s Allianz SE.

• This move marks the end of a 24-year partnership with Allianz SE.
• The agreement was finalized after constructive discussions, ensuring a smooth transition of ownership.

JM Financial: Wealth Management Business Transfer

JM Financial Ltd announced the transfer of its wealth management business to its subsidiary, JM Financial Services Limited (JMFSL), for ₹11.08 crore via a slump sale.

• The transfer will become effective from April 1, 2025.
• The board approved a Business Transfer Agreement (BTA) to ensure a seamless transition.

PC Jeweller: Debt Settlement via Share Allotment

PC Jeweller Ltd has approved the allotment of 51.71 crore shares to lenders through a preferential issue to settle a ₹1,510 crore debt.

• The shares were issued at ₹29.20 per share.
• The 14-bank consortium received equity in the company as part of the debt restructuring plan.

Hindustan Unilever (HUL): Acquires Minimalist’s Parent Firm

The Competition Commission of India (CCI) has approved Hindustan Unilever’s proposal to acquire Uprising Science, the parent company of the Minimalist brand.

• Uprising Science, based in Jaipur, specializes in beauty, personal care, baby care, and hair care.
• This acquisition strengthens HUL’s position in the premium skincare segment.

Shriram Finance: Secures $306 Million Funding

Shriram Finance Ltd (SFL) has secured $306 million in funding from multilateral and bilateral development institutions, including the Asian Development Bank (ADB).

• Other participants in the funding include the Japan International Cooperation Agency (JICA) and Exim Bank of India.
• The funding was raised under SFL’s Social Finance Framework, supporting long-term lending initiatives.

SpiceJet: Promoter Sells Shares Worth ₹90 Crore

SpiceJet’s promoter, Ajay Singh, has offloaded 2 crore shares of the airline for ₹90 crore via an open market transaction.

• The shares were sold at an average price of ₹45 per share, representing 1.6% of the company’s equity.
• Plutus Wealth Management, a boutique investment firm, acquired 75 lakh shares at the same price.

Religare Enterprises: Governance Review and Funding Request

The Religare Enterprises Ltd (REL) board has asked its new promoters, the Burman family, to provide immediate funding support to sustain operations.

• The board initiated a governance review of REL and its subsidiaries to improve internal controls and assess past operational practices.
• The review aims to identify potential misconduct by current and former employees.

Aditya Birla Real Estate: Pune Project Revenue Potential

Birla Estates, a subsidiary of Aditya Birla Real Estate Ltd, anticipates ₹2,700 crore in revenue from its first housing project in Pune, ‘Birla Punya’.

• This project marks Birla Estates’ entry into Pune’s real estate market.
• The company is focusing on premium residential projects with strong revenue potential.

Macrotech Developers: Luxury Apartment Deal

Macrotech Developers has sold a 15,000 sq. ft. luxury apartment in Worli, Mumbai, for ₹187.47 crore to S R Menon Properties LLP.

• The transaction details were confirmed through property registration documents.
• This sale highlights continued demand for luxury real estate in Mumbai.

Other Stocks to Watch

JSW Energy: Acquires O2 Power Entities

The Competition Commission of India (CCI) has approved JSW Neo Energy’s proposal to acquire 100% stakes in O2 Power Midco Holdings and O2 Energy SG.

• JSW Neo Energy, a subsidiary of JSW Energy, focuses on renewable and conventional power generation.
• This acquisition strengthens JSW Energy’s position in the clean energy sector.

IREDA: Increases Borrowing Limit

The board of Indian Renewable Energy Development Agency (IREDA) has approved an increase in its borrowing limit for FY2024-25 by ₹5,000 crore.

• The total borrowing limit is now ₹29,200 crore, up from ₹24,200 crore.
• The funds will be raised through taxable bonds, term loans, external commercial borrowings (ECB), and other financial instruments.

Ircon International: Wins EPC Contract

Ircon International, a public sector undertaking (PSU), has secured an EPC contract worth ₹1,096 crore from the Directorate of Urban Affairs, Government of Meghalaya.

• The contract involves the construction of a major infrastructure project, enhancing Ircon’s project pipeline.

Morepen Laboratories: Launches Diabetes Treatment

Morepen Laboratories Ltd has launched Empamore, a new treatment for Type 2 Diabetes Mellitus (T2DM), Heart Failure with Reduced Ejection Fraction (HFrEF), and Chronic Kidney Disease (CKD).

• The company aims to expand its presence in the pharmaceutical and healthcare sector.

Star Cement: Preferred Bidder for Limestone Block

Star Cement Meghalaya Ltd, a subsidiary of Star Cement, has been declared the preferred bidder for the Boro Hundong Limestone Block by the Government of Assam.

• This win strengthens Star Cement’s raw material supply chain for its production facilities.

Tata Power: Advances Smart Grid Innovation

Tata Power Delhi Distribution (Tata Power-DDL) has partnered with FSR Global to advance smart grid innovation and policy research.

• The collaboration will focus on technical research, knowledge sharing, and industry best practices.

The stock market outlook for March 18 remains positive, with key stocks in focus due to major deals, demergers, acquisitions, funding rounds, and strategic expansions. Investors will watch these developments closely for market impact and growth opportunities.