SUMMARY
A list of stocks that could see decent trading volumes on Monday, December 30, 2024: Reliance Infrastructure, JSW Energy, IOL Chemicals, and more.
1 / 6Reliance Infrastructure | The company’s unit, PS Toll Road Private Ltd, received notices from Axis Bank and IDFC First Bank on Friday. The two banks have invoked the right of substitution under the Concession Agreement for six-laning the Pune Satara section of NH-44 in Maharashtra, for and on behalf of lenders of the PSTR citing alleged DSRA defaults by it.
2 / 6Axis Max Life Insurance | The insurer’s unit, Max Life Pension Fund Management Ltd (Max Life PFM), announced plans to discontinue its operations as a pension fund manager and a point of presence under regulations set by the Pension Fund Regulatory and Development Authority (PFRDA). The decision follows a brand-related ambiguity between Max Life PFM and Axis Pension Fund Management Limited (Axis PFM), a pension fund management entity within Axis Bank’s group.
3 / 6JSW Energy | The energy behemoth announced the acquisition of O2 Power, a renewable energy platform, in a transaction valued at ₹12,468 crore, marking its largest acquisition since inception. The deal will significantly expand JSW Energy’s generation capacity by 23%, increasing it from 20,012 megawatt (MW) to 24,708 MW.
4 / 6Utkarsh Small Finance Bank | The lender said it will sell a portfolio of non-performing assets (NPAs) and written-off loans to an asset reconstruction company (ARC). The portfolio under consideration consists of unsecured stressed microfinance institution (MFI) loans with an aggregate outstanding principal of approximately ₹355 crore as of September 30, 2024.
5 / 6IOL Chemicals | The company’s board approved to split the company’s shares in the proportion of 1 share into 5 shares. This means that for every stock investors hold in the company, it will be subdivided into 5 shares.
6 / 6Hero MotoCorp | India’s largest two-wheeler maker extended its partnership with US-based premium motorcycle maker Harley-Davidson Motor to co-develop and manufacture a new motorcycle as well as expand the existing co-developed model – X440 – into new variants.
