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Nestlé India implemented a stock split announced in October 2023. For each share held, shareholders received 10 shares each.
Polycab India's shares plummeted by 21 per cent in a single day (January 11, 2024). This is the steepest decline since its debut, following Income Tax raids across 50 of its locations over alleged hidden cash sales of around Rs 1,000 crore.
HDFC Bank's profit after tax saw a modest 3 per cent sequential increase in Q3 FY24, constrained by new RBI provisions. Net interest income (NII) dropped by 70 basis points due to higher fund costs. This led to an 8.5 per cent stock dip on January 17, 2024.
Bajaj Auto announced a Rs 4,000 crore buyback at Rs 10,000 per share, a significant 40 per cent premium over the January 17, 2023 share price.
Maruti Suzuki, an automotive giant, announced an ambitious Rs 35,000 crore investment to potentially double its output to four million units by FY31. They are also setting aside Rs 3,200 crore for a new electric vehicle (EV) production line at Suzuki Motors Gujarat.
The government announced a Rs 2,300 crore offer for sale on January 17 to divest a 3.5 per cent stake in NHPC, in line with its disinvestment plans.
Business tycoon Gautam Adani announced a massive Rs 2 lakh crore investment plan in Gujarat for an integrated renewable energy system over the next five years. The plan includes the construction of the world's largest green energy park in Kutch.
Reliance Industries is establishing its first carbon fibre facility in Hazira, Gujarat. It has also embarked on building a giga energy complex to meet half of the state's energy needs.
Eicher Motors, renowned for its premium two-wheelers, signed an MOU with the Tamil Nadu government for Rs 3,000 crore investment in greenfield and brownfield projects. The emphasis will be on new product development, particularly on electric vehicles (EVs).
Japan's Nikkei 225 and TOPIX indices hit their highest levels since 1990, fueled by negative interest rates and robust foreign investments, although still shy of the 1989 bubble peak. Major contributors include Toyota Motors, Keyence Corp, and Sony Group.
Tata Consumer Products is acquiring Capital Foods (known for Ching's Secret and Smith & Jones) and Organic India, with an aim to diversify its portfolio and enter new market segments. The deal includes a 75 per cent initial stake in Capital Foods and a complete takeover of Organic India. Tata Consumer Products values Capital Foods at Rs 5,100 crore and Organic India at around Rs 1,900 crore. Funding for these acquisitions combines debt (Rs 3,500 crore) and equity (Rs 3,000 crore rights issue).
Adani Enterprises signed an MOU with the Maharashtra government for a Rs 50,000 crore, 10-year investment in a 1 GW data centre, powered by renewable energy.
Aarti Industries secured a four-year specialty chemical contract projected to yield Rs 1,500 crore annually, totaling Rs 6,000 crore. The current capital expenditure of the firm is sufficient for this deal, and additional capex is not required.
Tata Power is committing Rs 70,000 crore to develop 10 GW of solar and wind power capacity in Tamil Nadu.
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