From Adani Power’s GVK Energy acquisition to Swiggy’s stake sale in Lynks Logistics and new orders for GE Vernova T&D India, here are some stocks to t…
1/7Adani Power | Adani Power has received a Letter of Intent (LoI) to acquire GVK Energy after the company’s Committee of Creditors approved its resolution plan under the insolvency process. GVK Energy owns a 330 MW hydroelectric project in Uttarakhand through its subsidiary, Alaknanda Hydro Power Company.
2/7Swiggy | Swiggy Networks, a wholly owned subsidiary of online food ordering and quick commerce platform Swiggy, will sell its entire stake in Lynks Logistics to Singapore-based Trustroot Internet for about $52.4 million. The transaction, involving 166,534 Series R compulsorily convertible preference shares, is expected to close by October 22, subject to agreed conditions. Following the deal, Lynks will no longer be part of the Swiggy group.
3/7Mankind Pharma | The pharma major said its subsidiary, Bharat Serums and Vaccines (BSVL), has received shareholder approval for voluntary liquidation. The move remains subject to approval from BSVL’s creditors under applicable provisions of the Insolvency and Bankruptcy Code and voluntary liquidation regulations.
4/7Shiprocket | E-commerce logistics and shipping platform reported a net loss of ₹13.7 crore in Q1, narrowing from ₹18 crore a year ago. Revenue grew 33.8% year-on-year to ₹592 crore from ₹442 crore, while EBITDA loss narrowed to ₹21 crore from ₹26 crore. This was the company’s first quarterly result after its listing on August 19.
5/7Neuland Laboratories | The firm has approved a ₹126 crore capital expenditure to acquire around 134 acres of land at Auro Industrial City in Kakinada, Andhra Pradesh, for future expansion. The company also has the right of first refusal to purchase an additional contiguous 66-acre parcel, potentially taking the total land holding at the location to around 200 acres. The investment will be funded through internal accruals.
6/7GE Vernova T&D India | The company has emerged as the L1 bidder for Power Grid Corporation of India’s project to design and establish a 6,000 MW, ±800 kV HVDC LCC terminal station for evacuating renewable power from Barmer II to South Kalamb. The project will be executed over multiple years.
7/7Asian Energy Services | The firm said its holding and amalgamating company, Oilmax Energy Pvt Ltd, has received a Letter of Intent (LoI) from the Arunachal Pradesh government for a composite licence for the Pakro Vanadium and Graphite Block. The block is spread over 155.46 hectares in Pakke Kessang district. The company clarified that the LoI has been awarded to Oilmax Energy and not directly to Asian Energy Services.
