Stocks To Watch • Shree Cement: To set up integrated cement p | Day Trader తెలుగు

Stocks To Watch
• Shree Cement: To set up integrated cement plant in Nawalgarh Tehsil of Rajasthan with clinker capacity of 3.8 Million Ton Per Annum and cement capacity of up to 3.5 MTPA. The plant will cost company Rs 3,500 crore. The proposed capacity will be added by quarter ended March 2024. The company will also set up solar power plants with capacity up to 106 MWp. The plants will be set to meet the captive power requirement of cement plants. Investment required for power plants estimated at Rs 500 crore. The proposed capacity to be set by quarter ending September 2022. Further, the company’s wholly owned subsidiary, Shree Cement East Pvt Ltd, will set up a clinker grinding unit with capacity of 3 MTPA in Purulia district of West Bengal. The unit will cost company Rs 750 crore.
• LIC Housing Finance: Promoter Life Insurance Corporation of India's stake in the company increased to 45.239% from 40.313% post preferential allotment.
• Power Finance Corporation: UBS Group AG increased stake in the company to 5.67% from 3.4% earlier, through the rights issue.
• Jindal Steel & Power: CRISIL Ratings has upgraded the rating of the Long-Term Bank Facilities of the company to A+/positive from A-/stable. The rating agency also upgraded Short-Term Bank Facilities’ rating to A1+ from A2+.
• Gail (India): The company is in process of accepting Letter of Intent and signing a Sale and Purchase Agreement with IL&FS to acquire 26% equity stake of IL&FS group in ONGC Tripura Power Company. After acceptance of LOI by GAIL and signing of SPA, IL&FS will send the proposal to NCLT. The transaction will be completed after NCLT approval.
• UTI Asset Management Company: Board of Directors to meet on September 20 to consider and approve general matters of the company.
• PI Industries: Shareholders have approved promotion of Rajnish Sarna from Whole-time Director to Joint Managing Director of the company w.e.f. May 18.