Stocks In News At Noon: Vedanta, Bharti Airtel, Zen Technologies, Among Others

Several prominent stocks are making headlines today, with notable movements observed in Vedanta Ltd., Bharti Airtel Ltd., Max Healthcare Ltd., Zen Technologies Ltd., KPI Green Energy Ltd., and Maruti Suzuki India Ltd. Here’s a detailed look at the latest developments for each of these companies.

Vedanta Ltd.'s share price traded lower during early trade on Tuesday, declining by 2.44%. This drop comes ahead of a crucial meeting of creditors set to vote on a plan to split the mining conglomerate into five different businesses.

The demerger plan, approved by its board on Sept. 29, 2023, aims to streamline operations and enhance shareholder value by allowing each entity to pursue its respective growth opportunities more effectively. Approval from both secured and unsecured lenders, with a majority representing three-fourths of the debt value, is required for the plan to proceed.

Bharti Airtel Ltd.’s share price slipped by 1.18% in trade on Tuesday, after its promoter offloaded shares via a block deal. Indian Continent Investment Ltd. sold 51.1 million shares for Rs 8,485 crore.

Additionally, Bharti Telecom Ltd., another promoter entity, acquired 12 million shares of the company. ICIL is owned by Sunil Mittal, while Bharti Telecom is jointly owned by Sunil Mittal and SingTel. SingTel now owns a 49.4% stake, while Mittal owns a 50.6% stake in Bharti Telecom.

Max Healthcare’s share price surged by 3.19% after receiving an upgrade from UBS due to its efficient execution in bed additions and profitable acquisitions. The brokerage resumed its coverage with a ‘buy’ rating, upgrading from the earlier ‘neutral’ rating, and raised the target price to Rs 1,200 from Rs 610.

UBS cited the company’s strong visibility, efficient execution of bed additions, and fast break-even of newer hospitals as key positives. The brokerage also expects the bed capacity to double in the next three years.

Zen Technologies Ltd.'s share price continued its downward slide for the second consecutive day, hitting a lifetime low on Tuesday. The stock declined by 10%, following a 20% drop on Monday, after the company announced its third-quarter earnings, which fell short of analysts’ expectations. Over the past two days, the stock has declined by a total of 30%.

KPI Green Energy Ltd.'s share price declined by 5.04% on Tuesday after the shares turned ex-dividend. The Gujarat-based solar power generation company had announced an interim dividend of Rs 0.20 per equity share for the financial year 2025.

The announcement came after KPI Green Energy released its financial statements for the quarter ending December 2024. The record date for the interim dividend payout was fixed as Feb. 18, and shareholders listed on the Register of Members as of this date are eligible to receive the dividend within 30 days of its declaration.

Maruti Suzuki’s share price initially surged by 0.96% but later gave up gains to trade 0.05% lower. Citi has given Maruti Suzuki India a target price boost of Rs 800, accommodating the latest volumes data for various models. The brokerage also adjusted its margin assumptions, citing expectations of a better mix and lower discounts for the company. Citi’s EBIT estimates for the financial years 2025-27 were hiked by 3-5%.