In a busy week for corporate developments, several major Indian companies have announced significant regulatory, financial, and strategic updates. From tax notices to massive fundraises, energy deals, overseas investments, and business restructuring, these moves could shape the company’s future growth and operations. Here’s a quick roundup of stock-related updates involving Tata Steel, Can Fin Homes, JSW Energy, and Mahindra & Mahindra. These stocks are likely to focus on.
Tata Steel
The company received a show cause notice from the CGST and Excise Department, Jamshedpur for alleged irregular input tax credit claims of Rs. 890.52 crore during FY19-Fy21. Tata Steel received a show cause notice from tax authorities on June 19, following its issuance on June 13.
Mahindra & Mahindra (M&M)
M&M is reorganizing its defence business. Stakes in Mahindra Emirates Vehicle Armouring and Mahindra Telephonic will move from Mahindra Defence to Mahindra Advanced Technologies. M&M will also transfer its shareholding in Mahindra Defence Systems Ltd to the same unit.
JSW Energy
JSW Energy’s subsidiary, Energizing Power has entered into a power purchase agreement with NHPC for the supply of 300MW from solar-wind hybrid projects. The projects will be based in Rajasthan and Andhra Pradesh, and the tariff is set at Rs. 3.49 per unit.
Can Fin Homes
The housing finance firm plans to raise Rs 11,000 crore. This includes Rs 10,000 crore through warrants and debt instruments, domestic or overseas, and Rs 1000 crore via equity options like QIP, rights, issues, or preferential allotment. Shareholders will vote on the proposal at the next AGM.
CEAT
The Tyre measure plans to invest ₹400 crore in its Sri Lankan subsidiary, CEAT OHT Lanka, via equity or preference shares and phases. It will raise ₹500 crore in India through unsecured non-convertible debentures.
