Stocks To Watch Today, February 26: Lupin, Reliance Industries, Vedanta, NTPC, IRFC and others

Companies such as Lupin Ltd, Reliance Industries, Vedanta Ltd, NTPC Limited, Maruti Suzuki India Limited, Indian Railway Finance Corporation, Punjab National Bank, Bank of Baroda, Indian Hotels Company Limited, and Vikram Solar are likely to remain in focus following regulatory updates, stake transactions, ratings actions, order wins, and expansion announcements.

Lupin Ltd

GST Inspection and US Drug Approval

The Maharashtra GST Department has conducted an inspection and search operation at the company’s registered office in Mumbai. Separately, Lupin has received approval from the US health regulator to launch a generic drug aimed at treating seizures.

Equity Allotment to Subsidiaries and Meta Arm

Reliance Enterprise Intelligence (REIL), a step-down wholly owned subsidiary, has allotted 59.66 crore equity shares worth ₹596.6 crore to Reliance Intelligence, another wholly owned arm of the company. Additionally, 25.65 crore equity shares worth ₹256.6 crore have been allotted to Facebook Overseas Inc, a wholly owned subsidiary of Meta Platforms, Inc.

Secures 378.75 MW Solar Module Order

The company has secured an order to supply 378.75 MW of solar modules to Indian Oil NTPC Green Energy.

Subsidiary Receives CRISIL Ratings Upgrade

Vedanta announced that its subsidiary, Meenakshi Energy Ltd (MEL), has received a long-term rating of AA- and a short-term rating of A1+ from CRISIL Ratings for its proposed bank borrowings.

2% Government OFS Sees Weak Institutional Demand

The government’s offer for sale (OFS) of a 2 per cent stake in IRFC witnessed weak demand from institutional investors, with the issue not achieving full subscription.

Consortium Completes Sinnar Thermal Power Acquisition

NTPC, along with MAHAGENCO as part of a consortium, has completed the acquisition of Sinnar Thermal Power through insolvency proceedings on February 24.

Fitch Affirms ‘BBB-’ Rating with Stable Outlook

Fitch Ratings has reaffirmed the ‘BBB-’ rating with a stable outlook for both Punjab National Bank and Bank of Baroda.

Launches 26-Key Resort in Maharashtra

IHCL has announced the launch of a 26-key Tree of Life AeroVillage resort located in Panheli, Maharashtra.

Gujarat Facility Recognised Under Global Carbon Standard

The company stated that its in-plant railway siding facility in Gujarat has been recognised as the world’s first modal shift transportation project under Verra’s Verified Carbon Standard initiative.