Stocks to watch: Zee Entertainment, SpiceJet, Tata Steel, JSW Energy, HDFC Bank

Ze Entertainment: The Competition Commission of India (CCI) said on Tuesday that it has approved the merger of Zee Entertainment Enterprises Limited (ZEE) with two Sony group companies Bangla Entertainment Private Limited (BEPL) and Culver Max Entertainment Private Limited (CME), with certain modifications. It stated that the proposed merger was of a takeover and merger nature and fell under Sections 5(a) and 5(c) of the Competition Act 2002.

JSW Energy: JSW Energy has signed an agreement with the Maharashtra state government to build a 960 MW hydro pumped storage project in the state’s Raigarh district. JSW Energy said in a statement on Tuesday that pumped hydro storage is a mature technology that provides sufficient peak power reserves, reliable grid operation, energy balancing and storage capacity.

spice airlines: The Treasury Department has expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) to increase the maximum loan amount under the program.The loan limit under the scheme has been raised to rupee15 billion rupee$4 billion to help Covid-hit industries weather liquidity pressures. Low-cost airline SpiceJet has welcomed changes to the Civil Aviation Sector’s Emergency Credit Line Guarantee Scheme (ECLGS), but has also asked the government to expand support for jet fuel.

Tata Steel: Tata Steel said on Tuesday it has sold its 19% stake in Oman’s AI Rimal Mining (AI Rimal), reducing its stake to 51% from 70% earlier. This is in reference to our disclosure on May 9, 2019 regarding the divestiture of Al Rimal Mining LLC (Al Rimal) in Oman.

ONGC: State-run ONGC Videsh Ltd (OVL) is seeking to invest about $1 billion in Brazil’s offshore hydrocarbon blocks and increase its stake, a person familiar with the matter said, in India’s latest move to strengthen energy security. Brazil’s state-run Petroleo Brasileiro SA (Petrobras) operates the BM Seal-4 block with a 75% participating interest, while OVL holds the remainder. It made a major natural gas discovery in 2019 and expects to start production after 2026. OVL’s stake in the block is expected to increase following the investment.

Hindustan Unilever: Hindustan Unilever Ltd (HUL) is racing to deliver household items to grocery stores, halving the time it takes to go from order receipt to delivery within a day amid growing competition from online grocery wholesalers. In a pilot project in Chennai, parts of Maharashtra and other states, the company’s ground-based sales teams are tasked with ensuring products arrive in stores the next day, not the day after, three people familiar with the matter said.

happiest mind: IT services firm Happiest Minds Technologies gets board approval on Wednesday to raise up to rupee14 million. The new capital is likely to be raised through the issuance of one or more tranches of securities. It can be offered as a public, preferred or private offering. The company will seek shareholder approval through a mail-in ballot.

Apollo Hospital: Apollo Hospitals Enterprises Ltd said on Wednesday it has acquired a 60% stake in leading classic Ayurvedic hospital chain AyurVAID for rupee264 million. The healthcare professional said in a regulatory filing that the investment will be used to upgrade existing centers, build new ones, strengthen enterprise platforms, as well as digital health initiatives.Start with revenue estimates that exceed rupeeAyurVaid 150 crore in FY23, targets to achieve rupeeIt added that it will reach 1 billion in the next three years.

HDFC Bank: Private sector HDFC Bank said on Tuesday that it rupeeRs 1,480 crore in the second quarter of the fiscal year.credit book is rupeeAs at September 30 last year, it was 11.98 billion rupees. HDFC Bank said in a regulatory filing that the bank’s advances through the gross transfer of inter-bank participation certificates and rediscounted bills increased by approximately 25.8% compared to September 30, 2021.

Avenue Supermarket: Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, reports 35.75% rise in standalone operations revenue rupeeRs 10,384.66 crore in the second quarter of the current fiscal.The company’s operating income is rupeeAccording to regulatory filings, it was 76.4964 billion in the same period last year. “In the quarter ended September 30, 2022, standalone operating income was rupee10,384.66 crore,” it said in a regulatory filing on Monday.