Stocks in focus today: Vodafone Idea, GE Power India, Jaiprakash Power, Vedanta, PFC

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Mumbai: With stock markets set to open on Thursday, some stocks which are expected to be in focus today are as follows: Vodafone Idea, GE Power India, Jaiprakash Power, Vedanta, and PFC. The Sensex and Nifty settled lower for the second straight session on April 3 due to profit-booking in select banking and auto stocks.

Vodafone Idea

Vodafone Idea will meet on April 6, 2024 to decide on a proposal of issuance of equity shares or convertible securities on a preferential basis. “We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Saturday, 6th April 2024, inter-alia, to consider proposal for issuance of Equity Shares and/or Convertible Securities on a preferential basis,” the debt-ridden company said in a regulatory filing.

GE Power India, Jaiprakash Power Ventures

GE Power India has sealed two orders worth Rs 774.9 crore from Jaiprakash Power Ventures. The orders are worth Rs 490.5 crore plus 18 per cent GST for the Nigrie plant and Rs 284.4 crore for the Bina plant.

Vedanta

Vedanta Aluminium said it has expanded its annual alumina refining capacity at its Lanjigarh unit in Odisha. The refining capacity has been expanded from 2 million tonnes per annum (MTPA) to 3.5 million tonnes. The company plans to further increase alumina refining capacity to 5 MTPA. Vedanta Aluminium CEO John Slaven said: “We expanded the capacity, which strengthens our raw material security and reduces costs for our Jharsuguda and BALCO aluminium smelters. It is a significant step towards 100 per cent vertical integration and strongly positions us for sustainable growth within the global aluminium market”.

Bharti Airtel, RIL

The Department of Telecom (DoT) has deferred the spectrum auction to June 6, 2024. The DoT has set the new date for “start of the live auction” to 6th of June after the announcement of the Lok Sabha Election results. The government has announced that eight spectrum bands will be up for grabs in the auction for mobile phone services at a base price of about Rs 96,317 crore.

Union Bank of India

State-owned Union Bank of India confirmed to the exchanges that it has raised USD 500 million from foreign markets to fund overseas business growth. Dubai International Financial Centre (DIFC), Dubai Branch, arranged the funds.

PFC

PFC has paid a total dividend of Rs 2,033 crore to the government for the financial year 2023-24. The dividend company was paid in three instalments of Rs 554 crore, Rs 832 crore and Rs 647 crore.

(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)

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