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Stocks in Focus: Adani Energy Solutions, LTIMindtree, ONGC and Others

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The GIFTY Nifty futures were trading in the red during the early hours before the opening of the markets on Thursday. Domestic Indices are expected to open negative in line with the GIFT Nifty futures amid a weak trend in global markets. 

The benchmark equity indices, NSE Nifty 50 and S&P BSE Sensex closed lower on Thursday after two straight winning days. The Nifty50 nearly lost 100 points or 0.5% to close at 19,365.25 points, while the Sensex dipped by 0.59% or 388.40 points to settle at 65,151.02 points.

Here are the top stocks likely to be on investors’ radar today.

Adani Green Energy: Mundra Solar Energy’s Solar PV Cells and Solar PV Modules manufacturing plant, with a capacity of 2.0 GW per annum, has received the commercial operational date certificate from Solar Energy Corporation of India. Adani Green Energy holds a 26% stake in the company. 

Concord Biotech: This Rekha Jhunjhunwala-backed company will get listed on the exchanges today. The Grey Market Premium (GMP) suggests a likely gain of 10-15% listing gain. The company’s initial public offering (IPO) received a fairly good response from investors, with a 24.9 times subscription. 

Adani Energy Solutions: Adani Energy Solutions, formerly known as Adani Transmission, inked a definitive agreement with Megha Engineering & Infrastructures to acquire an under-development special purpose vehicle (SPV) transmission project for an undisclosed amount. Additionally, the company initiated arbitration proceedings against Gujarat Energy Transmission Corporation (GETCO), claiming certain receivables to the sum of Rs 99.76 crore regarding work performed for the supply and erection of the 400kV D/C MundraZerda transmission line. 

LTIMindtree: US insurance firm picked LTIMindtree to digitally transform the organisation with the help of the cloud-native services of Amazon Web Services (AWS). The IT service provider will rebuild Aflac’s digital architecture for application modernisation and cloud transformation.

Oil and Natural Gas Corporation (ONGC): The state-owned oil company will invest Rs 1 lakh crore by the end of this decade in low-carbon energy opportunities, including renewables and green hydrogen. ONGC looks to transform into a low-carbon energy player and contribute towards the nation’s aim to curtail carbon emissions by 1 billion tonnes and simultaneously reduce carbon intensity by 45 per cent by 2030.

NTPC: NTPC board has approved to sign a business transfer agreement (BTA) to hive off its mining business to its arm NTPC Mining Ltd. The coal mining business and all related assets and liabilities, including 6 coal mines, are being transferred from NTPC books to NTPC Mining Ltd. 

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