Buzzing Stocks: United Spirits, Tata Chemicals, MTNL, Aurobindo Pharma, Federal Bank, and More

United Spirits may experience stock pressure after Pernod Ricard emerged as the top Indian spirit maker by revenue in FY24, achieving Rs 26,773.22 crore. Pernod Ricard overtook Diageo-owned United Spirits, which reported Rs 26,018 crore, with Pernod Ricard's profits climbing 20.9% to Rs 1,620.58 crore according to regulatory filings.

Tata Chemicals is set to invest 60 million euros (Rs 655 crore) to establish a pharmaceutical-grade sodium bicarbonate facility in the UK through its subsidiary, Tata Chemicals Europe. This new plant will triple the company’s production capacity for pharmaceutical-grade sodium bicarbonate.

State-run MTNL reported a default on a payment of Rs 5,726.29 crore, including Rs 5,492 crore in loans and Rs 234.28 crore in interest. The telecom firm now has a total debt of Rs 32,097.28 crore, with Union Bank of India as its largest lender.

Aurobindo Pharma has secured a GMP compliance certificate from the European Medicines Agency for its Hyderabad-based biosimilars manufacturing unit, operated by its subsidiary CuraTeQ Biologics.

The Securities and Exchange Board of India (SEBI) imposed fines totaling Rs 12 lakh on LCC Infotech and several promoters for financial misrepresentation.

LIC sold a 2.02% stake in Tata Power, raising Rs 2,888 crore and reducing its stake to 3.88% as per filings. The shares were sold at an average price of Rs 446.402 per share.

Federal Bank has raised Rs 1,500 crore through its debut 10-year infrastructure bonds at a coupon rate of 7.76%, including a greenshoe option.

EMS secured a Letter of Award (LoA) for a Rs 681.5 crore project in a joint venture with the Kolkata Municipal Corporation.

Results Calendar: Key companies scheduled to release their financial results include Eicher Motors, Apollo Tyres, Vodafone Idea, Happiest Minds, NBCC, Kalyan Jewellers, PI Industries, Thermax, and Thomas Cook.