Stocks to Watch: Sanathan Textiles, Welspun Corp, Ceigall, JB Chemicals, Waaree Energies, NTPC Green Energy, Aequs, Novus Loyalty in Focus on March 25
Stock Market Update
Stocks to Watch
Sanathan Textiles
Sanathan Polycot, a subsidiary of Sanathan Textiles, has entered into a Share Subscription and Shareholders' Agreement and a Power Supply and Consumption Agreement (PSCA) to acquire a 26% stake in Serentica Renewables India 33 Private Limited, a subsidiary of Serentica Renewables India. The investment aims to source renewable power as a captive consumer for a contracted capacity of 32 MW.
Welspun Corp
Welspun Pipes Inc., USA (WPI) will acquire a 22% stake in East Pipes Integrated Company for Industry (EPIC) from Welspun Mauritius Holdings (WMHL) for SAR 979.90 million. The transaction has been executed and completed on the Tadawul Stock Exchange.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Ceigall India
Ceigall India has received two work orders worth Rs 298 crore from Purvah Green Power, to be executed in Andhra Pradesh. Additionally, a tender worth Rs 207 crore, won by the company's subsidiary Ceigall Infra Projects from the Punjab Infrastructure Development Board, has been cancelled due to administrative reasons.
JB Chemicals & Pharmaceuticals
Shareholders have approved the appointment of Aman Mehta as Managing Director of the company, effective January 21, 2026.
Thomas Cook India
The Board has approved the execution of a Supplemental Agreement to the Share Subscription-cum-Joint Venture Agreement with Atirath Technologies for investing in the joint venture company, Indian Horizon Marketing Services, to co-develop a Travel AI platform.
Waaree Energies
The Board has approved an increase in the company's equity stake in its subsidiary, Waaree Transpower, from 64.04% to 75.10%. Additionally, the Board has approved capital expenditure of Rs 3,900 crore for a glass manufacturing plant in its wholly owned subsidiary, Waaree Green Glass, with a capacity of 2,500 TPD.
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
NTPC Green Energy
The company has signed a Memorandum of Understanding (MoU) with Nxtra Data for the development of renewable energy projects to supply round-the-clock (RTC) renewable energy power to Nxtra Datacenters on a pan-India basis for captive consumption.
TVS Motor Company
TVS Motor has received Board approval for the payment of an interim dividend of Rs 12 per share.
Nitco
Bikash Jain has resigned as Chief Financial Officer (CFO) and Key Managerial Personnel of the company, effective March 31.
Aequs
Dinesh Iyer has resigned as Chief Financial Officer of the company, effective June 30, 2026.
Bosch Home Comfort India
The Board has appointed Rishi Mehta as Executive Director and Chief Financial Officer of the company, effective April 1.
Natco Pharma
The Board has approved a scheme of arrangement between the company and Natco Crop Health Sciences. The appointed date under the scheme is October 1, 2026. Additionally, the Board has approved the incorporation of a wholly owned subsidiary in Nigeria, with an investment of up to US$0.1 million, to be named Natco Pharma Nigeria.
Bharat Petroleum Corporation
NeuEN Green Energy, a 50:50 joint venture between Bharat Petroleum Corporation and Sembcorp Green Hydrogen India, has secured a contract to supply 10,000 tonnes per annum (10 KTPA) of green hydrogen to Numaligarh Refinery (NRL).
ICICI Prudential Life Insurance
The company has received an order from the Assistant Commissioner of Income Tax, Mumbai, demanding income tax of Rs 391 crore for AY 2024–25.
New India Assurance Company
The company has received an income tax demand of Rs 189.37 crore for AY 2023–24 from the Income Tax Department.
HDFC Life Insurance Company
The company has received a tax order of Rs 126.46 crore and a penalty of Rs 45.55 crore for AY 2023–24 from the Assistant Commissioner of Income Tax, Mumbai.
Tata Steel
The company has acquired 178.57 crore shares worth up to US$180 million (Rs 1,680.27 crore) in its subsidiary, Tata Steel Holdings.
Bulk & Block Deals
ICICI Prudential Mutual Fund sold 8.62 lakh shares (1.3% stake) in Rashi Peripherals at Rs 345.09 per share, valued at Rs 29.78 crore.
Investor Takeaway
Investors should monitor these stocks for potential market movements due to recent investments and acquisitions.
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