Here, we highlight some of the notable players in the market today, including TCS, Veritas, Tata Steel, Devyani International, L&T Finance Holdings, Lemon Tree Hotels, and Royal Sense, among others.
Tata Consultancy Services: An IT Behemoth
Tata Consultancy Services (TCS), a leading player in the IT sector, is a company to watch. Reports suggest that Tata Sons, the parent company, is considering selling 2.34 crore shares of TCS at Rs 4,001 per share, amounting to approximately $1.1 billion. This move is indicative of a 3.6 percent discount to the last traded price. It’s noteworthy that TCS continues to hold a strong position in the IT market despite this development.
Tata Steel: Steeling the Spotlight
The steel industry’s significant player, Tata Steel, also catches our attention. The company’s UK branch has announced its decision to halt the coke ovens at the Port Talbot plant in Wales due to operational stability concerns. To compensate for the coke oven closures, Tata Steel plans to increase coke imports. Furthermore, the company is in advanced discussions with UK trade unions about its proposed restructuring, which involves closing the iron and steelmaking assets at Port Talbot.
Devyani International: KFC’s New Leadership
Devyani International, the company that operates KFC outlets in India, has announced a management change. Rajat Luthra, the CEO of KFC, has stepped down, effective from March 29. Pradeep Das will assume the CEO position, transitioning from his current role as the CEO of airports and institutional businesses. This strategic change in leadership is expected to bring fresh perspectives to the company’s operations.
Lemon Tree Hotels: Expanding Horizons
Lemon Tree Hotels, a prominent player in the hospitality industry, has signed a license agreement for a new hotel in Agartala, Tripura. The hotel is expected to open in FY27. Carnation Hotels, a wholly-owned subsidiary and the hotel management arm of Lemon Tree, will operate this hotel. This addition aligns with the company’s expansion plans and is likely to contribute significantly to its growth.
L&T Finance Holdings: FundRaising Endeavor
L&T Finance Holdings has received the Board of Directors’ approval to raise funds up to Rs 1.01 lakh crore through non-convertible debentures (NCDs) in one or more tranches. This move demonstrates the company’s strategic efforts to bolster its financial position and enhance its business operations.
Royal Sense: A Royal Debut
Royal Sense, a supplier of medical equipment, is set to make its debut on the BSE SME on March 19. The company’s shares have been issued at Rs. 68 per share. For the first ten trading days, the stock will be in the trade-for-trade segment. This debut is anticipated to influence the company’s market standing positively.
Veritas (India): A New Partnership
Veritas (India) has received a Letter of Acceptance worth Rs 155.85 crore from Brihanmumbai Municipal Corporation (BMC) for a project in consortium with Genesys International Corporation. The project includes the development, implementation, and maintenance of a 3D city model and change detection using geospatial technology for BMC. This partnership showcases Veritas’ capabilities and its continuous efforts towards technological innovation.
Aditya Birla Sun Life AMC: A Promising Offer
Aditya Birla Sun Life AMC, another noteworthy player, has announced that its promoters, Aditya Birla Capital, and Sun Life (India) AMC Investments Inc. plan to sell up to 2,01,66,293 equity shares (equivalent to 7 percent of the total paid-up equity) through an offer-for-sale (OFS) issue. The issue will open to non-retail investors on March 19, with retail investors able to participate on March 20.