Top Stocks to Watch: Grasim Industries, Adani Group, Aptus Value Housing, Biocon and More
The Indian stock market is abuzz with activity, and several companies are making headlines for their strategic moves and financial decisions. Here’s a closer look at the top stocks to watch, including Grasim Industries, Adani Group, Aptus Value Housing, Biocon, and more.
Grasim Industries, the flagship holding firm of the Aditya Birla Group, has announced a significant financial move. The company's Finance Committee has approved the issuance of non-convertible debentures (NCDs) aggregating up to ₹1,000 crore. These NCDs will be fully-paid, unsecured, listed, rated, and redeemable rupee-denominated, priced at ₹1,00,000 each. This move is expected to strengthen Grasim’s financial position and support its ongoing projects.
The Adani Group, one of India’s largest conglomerates, is once again under scrutiny by the US Department of Justice. According to a report by the Wall Street Journal (WSJ), the group is alleged to have imported Iranian liquefied petroleum gas (LPG) into India through the Mundra port. The WSJ’s investigation into tankers that frequently traveled between Mundra and the Persian Gulf found that their behavior often exhibited traits seen in ships seeking to evade sanctions. This development could impact the group’s operations and reputation.
Aptus Value Housing Finance India Ltd, a leading housing finance company, is set to see a significant stake divestment. Private equity firm Westridge Investments plans to divest a 9.8% stake in the company through a block deal worth ₹1,495 crore. The floor price for the transaction has been fixed at ₹305 per share, according to sources close to the development. This move could lead to changes in the company’s shareholder structure and strategic direction.
HCLTech, a prominent IT services company, has announced a strategic partnership with UiPath, a leader in agentic automation. The partnership aims to accelerate agentic automation for UiPath customers globally, driving large-scale transformation for enterprises across various industries. This collaboration will enable more intelligent and self-sufficient business process operations that require minimal human intervention, potentially boosting HCLTech’s growth in the automation sector.
Zinka Logistics Solutions Ltd, a digital platform for truck operators, is also in the news. Quickroutes International is likely to divest a 9% stake in Zinka Logistics through a block deal, aiming to raise approximately ₹647 crore. The floor price for the sale has been set at ₹405 per share. This transaction could provide Zinka Logistics with the capital needed to expand its operations and enhance its platform.
MAN Industries, a leading engineering company, has announced plans to raise up to ₹300 crore through a preferential allotment of convertible warrants and equity shares to promoter and non-promoter entities. The proposal includes the issuance of 12,19,512 convertible warrants to Man Finance Private Limited at ₹328 each, aggregating approximately ₹39.99 crore. Additionally, 79,26,822 equity shares will be allotted to non-promoters at the same price, totalling around ₹259.99 crore. This move is expected to strengthen the company's capital base and support its expansion plans.
Biocon, a leading biotechnology company, has received regulatory approval in India for its Liraglutide drug substance. The company’s wholly owned subsidiary, Biocon Pharma, has also secured clearance for the drug product, a 6 mg/ml solution for injection in pre-filled pens and cartridges. The generic version of Novo Nordisk’s Victoza is indicated for treating Type 2 diabetes in adults, adolescents, and children aged 10 and above, as an add-on to diet and exercise. This approval is a significant milestone for Biocon, potentially boosting its market presence in the diabetes treatment sector.
Torrent Power, a leading power company based in Ahmedabad, has signed a long-term sales and purchase agreement (SPA) with BP Singapore Pte Limited, a subsidiary of global integrated energy company BP. The agreement is for the supply of up to 0.41 MTPA (million tonnes per annum) of LNG from 2027 to 2036. The LNG procured under this agreement will be utilized by Torrent Power, including to operate its 2,730 MW combined cycle gas-based power plants (GBPPs) in India. This strategic move is expected to enhance the company’s energy security and operational efficiency.
Jindal Stainless, a leading manufacturer of stainless steel, has acquired a 33.64% equity stake in a special purpose vehicle (SPV) to develop a 282 MW hybrid renewable energy project for its manufacturing operations. The SPV, named Oyster Green Hybrid One Private Limited, has been formed in collaboration with Oyster Renewable Energy Private Limited. This acquisition aligns with Jindal Stainless’s commitment to sustainable and renewable energy, supporting its goal to reduce carbon emissions and enhance operational sustainability.
These developments highlight the dynamic nature of the Indian stock market and the strategic moves being made by leading companies. Investors and market watchers should keep a close eye on these stocks for potential investment opportunities and market trends.
