Stocks to Watch: Jio Financial, Vi, Aster DM, Cipla, Asian Paints

Jio Financial Services: On April 15, Jio Financial Services announced its joint venture with US-based BlackRock to expand into wealth management and brokerage services in India. In a stock exchange filing, the financial institution announced a 50:50 joint venture dedicated to wealth management initiatives, which includes establishing a wealth management company and a subsequent brokerage firm in India.

Vodafone Idea: The company is optimistic about its ₹18,000-crore follow-on public offer (FPO) receiving full subscription, particularly from anchor investors. The company's CEO, Akshay Moondra said that the company plans to roll out 5G services within six to nine months after the FPO. This will involve fast-tracking orders for 5G equipment from vendors. It aims to introduce 5G services within two to two and a half years in regions that account for 40% of its revenue, with a focus on 17 priority circles that generate 98% of its revenue and 92% of the industry's revenue. Vi plans to invest ₹12,750 crore in network expansion until FY26. Of this, ₹5,720 crore will be allocated for establishing 22,000 5G sites. The remaining funds will be used for setting up 26,000 new 4G sites, upgrading existing 4G sites, and other corporate purposes. Vodafone Idea is due to pay ₹2,170 crore to the government in FY25 as an installment for the spectrum purchased in the previous auction.

Cipla: On April 15, Cipla revealed that its wholly owned subsidiary, Cipla Health Limited (CHL), has entered into a business transfer agreement to acquire the distribution and marketing business of Ivia Beaute Private Limited's cosmetics and personal care sector. This includes Ivia's brands such as Astaberry, Ikin, and Bhimsaini that have a global reach. The acquisition cost is set at ₹130 crore, payable on the closing date. Cipla, in a regulatory filing, stated that the transaction is anticipated to be finalized within 60 days from the signing of the business transfer agreement, or on another mutually agreed date.

Aster DM Healthcare: Aster DM Healthcare is planning to double its bed capacity to over 10,000 in the next three years. This expansion will be achieved through both acquisitions and organic growth, according to the company's CEO, Nitish Shetty, in an exclusive interview with Mint. Currently, the hospital chain has approximately 5,000 beds, an increase from 4,800 the previous year. Shetty added that the company intends to invest a minimum of ₹1,000 crore to acquire between 2,000 and 4,000 beds. This is part of their strategy to rank among the top three healthcare providers in India. Additionally, the company plans to organically add 1,700 beds over the next three years and has allocated ₹1,000 crore for this purpose.

Asian Paints: On April 15, Asian Paints launched a new product, Neo Bharat Latex Paint, marking its entry into a novel paint category. This move was spurred by the sector's robust growth, fueled by increasing urbanization and rising disposable incomes, which has prompted existing market players to seize the burgeoning demand and increase their market share. The company promotes this new segment as affordable, providing consumers with a choice of over 1,000 shades. In addition, the company has roped in cricket star Virat Kohli as the brand ambassador for the new launch. Amit Syngle, managing director and chief executive officer, Asian Paints, said, "By offering a branded solution to penetrate the unorganized segment, we aim to broaden the market and stimulate category growth as a market leader."

Reliance Infrastructure: The Mumbai division of the National Company Law Tribunal (NCLT) has concluded the corporate insolvency proceedings against Mumbai Metro One Pvt. Ltd, a subsidiary of Reliance Infrastructure, following a one-time settlement agreement between the company and its lenders, according to regulatory filings. This could enable the Maharashtra government to acquire Reliance Infrastructure's stake in the city's most frequented metro rail line. SBI and IDBI Bank had approached the bankruptcy court against MMOPL, a 74:26 joint venture between Reliance Infrastructure and the Mumbai Metropolitan Regional Development Authority (MMRDA), due to non-payment of dues amounting to ₹416 crore and ₹133 crore, respectively. It operates the Mumbai Metro One line, which runs between Versova, Andheri, and Ghatkopar in the city.

Tata Consultancy Services: TCS plans to recruit approximately 40,000 fresh graduates in the fiscal year 2025, matching the number hired the previous year, said CEO and MD K Krithivasan to Moneycontrol. This announcement comes amidst a period of declining headcount for the company, with three consecutive quarters of reduction. He added that the hiring of fresh graduates in FY25 would be on par with the previous year. As for the recruitment of experienced professionals, decisions will be made quarterly based on immediate needs and requirements, according to Krithivasan.

Mahindra & Mahindra: Mahindra Group has announced an investment of ₹1,200 crore for the development of a 150 MW solar and wind power project in India, stated Mahindra & Mahindra on April 15 in an excahnge filing. The project will be undertaken by Mahindra Susten, a subsidiary of the Mahindra Group, with Ontario, a global investor, serving as a strategic partner. The installation will comprise 101 MW wind capacity and 52 MW solar capacity. It is projected to generate 460 million kWh of energy, resulting in an expected reduction of 420,000 tonnes of CO2 emissions, as per the company's stock exchange filing.

LIC, Hindustan Unilever: According to an exchange filing on April 15, the Life Insurance Corporation of India (LIC) has raised its stake in the FMCG giant Hindustan Unilever. The stake was increased from 4.99 percent to 5.01 percent. The filing disclosed that LIC has increased its shareholding in HUL from 11,74,63,555 to 11,77,18,555 Equity Shares, which is equivalent to an increase from 4.99% to 5.01% of the company's paid-up capital. The shares were acquired through an open market purchase in Hindustan Unilever, which had a market capitalization of ₹5.15 lakh crore as of April 15.

Container Corporation of India: CONCOR announced an annual growth of over 8% in the total physical volume it handled in FY24 in its provisional updates for the quarter and financial year ending March 31, 2024, released on Monday. It showed CONCOR handled 12,44,798 twenty-feet equivalent units (TEUs) in Q4FY24, a 11.24% QoQ increase. The total throughput for the preceding quarter was 11,19,034 TEUs. For FY24, the company's total throughput was 47,19,984 TEUs, marking an 8.23% rise from 43,61,131 TEUs in FY23. The EXIM volumes for the March 2024 quarter grew by 7.08% YoY to 36,48,076 TEUs, compared to 34,06,864 TEUs in the same quarter of the previous year. The total EXIM volumes for FY24 were 9,34,058 TEUs, showing a YoY increase of 9.73% from 8,51,261 TEUs in FY23.