The stock market is buzzing with activity as several key companies make headlines. Here's a look at six stocks in the news on Tuesday afternoon, including Vedanta, NHPC, Thomas Cook, Maruti Suzuki, Bajaj Finance, and Waaree Energies. Each of these companies has made significant announcements or experienced notable stock movements, capturing the attention of investors and analysts alike.
Vedanta
Vedanta Ltd. saw its share price advance by 1.26% intraday after it received approval from equity shareholders and creditors for its proposed demerger plan on Feb. 18. The scheme of amalgamation will see Vedanta hive off Vedanta Aluminium Metal Ltd., Talwandi Sabo Power Ltd., Malco Energy Ltd., and Vedanta Iron and Steel Ltd. into separate businesses. The resolution was passed with 99% votes favouring the demerger.
NHPC
NHPC Ltd.'s share price rose over 2% as the stock received an upgrade from CLSA. The brokerage has placed the company's stock in the “high conviction outperform” category from the earlier “outperform” category. Despite this upgrade, CLSA has reduced the target price of the company to Rs 117 from Rs 120 to factor in higher capex.
Thomas Cook
Thomas Cook (India) Ltd.'s shares rose nearly 5% following the announcement of a partnership between its group company, SOTC Travel, and the Korea Tourism Organisation. The 24-month collaboration aims to boost tourism from India to South Korea, leveraging the country's growing popularity among Indian travellers.
Maruti Suzuki
Maruti Suzuki's share price declined by 2.25% after the company released its new mid-term management plan. The plan outlines growth targets and significant investments in electric vehicles and other alternative fuel technologies, which invoked mixed reactions from investors.
Bajaj Finance
Bajaj Finance's share price fell by as much as 1.11% after UBS maintained its ‘sell' rating on the stock, while hiking the target price to Rs 6,800 from Rs 6,500. The brokerage remains cautious, expecting the credit cost to remain high and noting that there is too much optimism priced into the earnings per share consensus.
Waaree Energies
Waaree Energies Ltd. saw its share price rise by 4.45% after announcing that it had secured a significant new order for the supply of solar modules. The order, totaling 362.5 MWp, was awarded by Khaba Renewable Energy Pvt Ltd, a subsidiary of Engie India.
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