Stocks to track: Major UPDATES on Ola Electric, Hero MotoCorp, JSW Energy, Reliance Power
By Ajay Joseph | First Published Dec 30, 2024, 9:22 AM ISTOla Electric faced scrutiny after the resignation of two top executives—Chief Marketing Officer Anshul Khandelwal and Chief Technology and Product Officer Suvonil Chatterjee.
The stock market on Monday (December 30) entered the new week amid global caution and persistent selling by Foreign Institutional Investors (FIIs). Key developments have put several stocks in the spotlight for investors to monitor closely.
Reliance Power:
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Reliance Power Ltd will likely see an increased activity following its recent announcement. Its subsidiary, Rosa Power Supply Company, finalised definitive agreements on December 27 to secure a rupee term loan of up to Rs 3,760 crore from Power Finance Corporation Ltd (PFC). The loan will be disbursed in phases, contingent on meeting specified preconditions, potentially strengthening the company's financial position.
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Ola Electric:
Ola Electric faced scrutiny after the resignation of two top executives—Chief Marketing Officer Anshul Khandelwal and Chief Technology and Product Officer Suvonil Chatterjee. These exits, effective December 27, could impact investor sentiment and raise questions about the company's leadership stability.
AstraZeneca India:
It is reportedly said that AstraZeneca India allegedly laid off over 125 employees from its biopharmaceutical business unit as part of restructuring efforts. This development aims to optimise operations, but investors will watch how it affects the company's stock and long-term efficiency.
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Alkyl Amines:
Alkyl Amines announced a rupture in a residue tank at its derivatives plant in Kurkumbh, Maharashtra, on December 28. While the company has not disclosed financial implications, potential production disruptions may influence its short-term stock performance.
IOL Chemicals:
The board of IOL Chemicals has approved a stock split in a 1:5 ratio. This move is designed to enhance liquidity and make shares more affordable for retail investors, potentially increasing market activity.
JSW Energy:
JSW Energy's subsidiary, JSW Neo Energy, has signed an agreement to acquire O2 Power Midco Holdings Pte and O2 Energy SG Pte for $1.47 billion. The acquisition aligns with the company's renewable energy goals, likely bolstering its growth prospects.
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Hero MotoCorp:
Hero MotoCorp extended its partnership with Harley-Davidson, unveiling plans to introduce new variants of the Harley-Davidson X440 and jointly develop a new motorcycle.
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