JKB Financial Services Ltd.

As on : 17-Nov-2023

Market Commentary - Stock Alert
17-Nov-2023 08:58

JSW Steel, TVS Motor, JSW Infrastructure, Delhivery in focus

JSW Steel: The company upon considering demand and supply scenario of Iron Ore in India, has withdrawn its application for the Final Mine Closure Plan submitted on 1st September 2023 before the Indian Bureau of Mines for the purpose of surrender of Jajang Iron Ore Block located in the district of Keonjhar, Odisha.

TVS Motor Company: The company announced its entry into Europe by signing an agreement for import and distribution with Emil Frey, a 100 year old enterprise and a leading name in automotive distribution.

JSW Infrastructure: The company has received Letter of Award from Karnataka Maritime Board, Government of Karnataka for development of All- weather, deep water, greenfield port at Keni in Karnataka on Public Private Partnership basis.

Delhivery: Softbank is reportedly planning to sell around 4% stake in Delhivery via the block deal route. The deal size is around $150 million.

Brigade Enterprises: Brigade Group has signed a Joint Development Agreement (JDA) with Krishna Priya Estates Pvt. Ltd. and Micro Labs Ltd to develop around 2 million square feet of residential housing in Bengaluru with a Gross Development Value (GDV) of Rs. 2,100 crore.

SJVN: The company has signed a Power Purchase Agreement for 200 MW Grid Connected Wind Power Project with Solar Energy Corporation of India Limited. The tentative cost for development of this project is Rs 1,400 crore.

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