Stocks in News: UltraTech, Wipro, DLF, Paytm, Lupin, BHEL & More
Key Ideas
  • UltraTech Cement to acquire a 26% stake in a renewable energy company, AMPIN C&I Power Eight.
  • Wipro reports a strong year-on-year jump in net profit for the March quarter but issues a cautious outlook for the June quarter.
  • DLF strikes a deal to sell its IT/ITeS SEZ project in Kolkata for ₹693 crore.
  • BHEL partners with BARC to develop hydrogen electrolysers, supporting India's green hydrogen production goals.
In today's stock market news, UltraTech Cement is set to diversify its portfolio by purchasing a 26% stake in AMPIN C&I Power Eight, a move towards renewable energy. On the financial front, Wipro has reported a significant 25.9% increase in net profit for the March quarter, although the company remains cautious about the upcoming quarter due to global uncertainties. DLF, a major real estate player, has finalized a deal with Srijan Realty to sell its IT/ITeS SEZ project in Kolkata for ₹693 crore. Another highlight is the voluntary surrender of 2.1 crore stock options by Paytm's CEO, resulting in a one-time non-cash charge of ₹492 crore in the fourth quarter. Lupin faces a setback as a US court upholds Astellas Pharma's patent on Myrbetriq, postponing Lupin's generic version launch. Meanwhile, BHEL has joined hands with BARC in a technology transfer agreement to develop hydrogen electrolysers using membrane diaphragm technology. This collaboration is a significant step in supporting India's aim for self-reliance in green hydrogen production.
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