Market Movers: Reliance, Dr. Reddy’s, M&M, Power Grid Among Top Stocks to Watch

Investors and traders are keeping a close watch on several key stocks in today’s market session, with Reliance Industries and Adani Enterprises drawing particular attention due to recent corporate developments.

Reliance Industries: Strengthening Its Maritime Presence

Reliance Industries Limited (RIL) has made a strategic move in the shipbuilding sector through its step-down wholly owned subsidiary, Nauyaan Tradings Private Limited (NTPL). NTPL has successfully completed the acquisition of a 74% equity stake in Nauyaan Shipyard Private Limited (NSPL) from Welspun Corp Limited for a total consideration of ₹382.73 crore. With this acquisition, NSPL has officially become a step-down subsidiary of Reliance Industries.

Before finalizing the deal, NTPL had already provided NSPL with an unsecured loan amounting to ₹93.66 crore. The loan was extended on an arm’s-length basis, ensuring compliance with fair market practices. This acquisition is expected to bolster Reliance’s position in the shipbuilding and maritime infrastructure sector.

Adani Enterprises: Expanding Global Footprint in Retail

Adani Enterprises Limited has also made a notable move in the international business landscape. Its step-down subsidiary, Cococart Ventures Private Limited, has established a new entity named Cococart International-FZCO in Dubai, UAE. The new subsidiary was incorporated on March 21, 2025.

While the company has officially been registered, it has not yet commenced its business operations. This development indicates Adani Enterprises’ continued efforts to expand its presence in the global retail and consumer goods sector, particularly in the premium chocolate and confectionery market through its Cococart brand.

Both these corporate developments are likely to influence investor sentiment and market movement in today’s trading session.

Stocks to Watch: NCC, Mahindra & Mahindra, and Raymond in Focus

Several key companies are making headlines today due to significant business developments. Here’s a closer look at what’s happening with NCC, Mahindra & Mahindra, and Raymond.

NCC: Major Infrastructure Contract in Bihar

Infrastructure and construction firm NCC Limited has secured a Letter of Acceptance for a substantial project worth ₹1,480.34 crore from the Bihar Medical Services & Infrastructure Corporation. The project involves the redevelopment of the Darbhanga Medical College & Hospital (DMCH) campus in Laheriasarai, Darbhanga.

The scope of work includes not only revamping the existing medical college and hospital but also developing additional structures to modernize healthcare infrastructure in the region. This project underscores NCC’s expertise in executing large-scale infrastructure projects, particularly in the healthcare sector.

Mahindra & Mahindra: Price Hike on SUVs & Commercial Vehicles

Automobile giant Mahindra & Mahindra (M&M) has announced a price increase of up to 3% on its sports utility vehicles (SUVs) and commercial vehicles, effective April 1, 2025. The extent of the price hike will vary across different models within its portfolio.

The company has cited rising costs due to inflation and increased commodity prices as the primary reasons for this adjustment. Automakers have been facing higher input costs in recent months, and Mahindra’s move aligns with industry trends aimed at maintaining profitability amid cost pressures.

Raymond: Investment in Real Estate Subsidiary for Redevelopment Project

Raymond Limited’s Board of Directors has approved an investment of up to ₹65 crore in Ten X Realty East, a step-down wholly owned subsidiary of the company. The investment will be made through redeemable preference shares, which will be issued in one or more tranches.

The funds will be used to support a redevelopment project undertaken by Ten X Realty East. This move highlights Raymond’s strategic focus on its real estate segment, which has been gaining prominence alongside its well-established textile and apparel business.

These corporate developments could have a notable impact on market sentiment as investors assess the implications for each company’s future growth and financial performance.

Stocks in Focus: CG Power, Dr. Reddy’s, and Apollo Hospitals

Several companies have made key corporate announcements that could impact investor sentiment. Here’s a detailed look at the latest developments involving CG Power, Dr. Reddy’s Laboratories, and Apollo Hospitals.

CG Power: Expansion into China’s Semiconductor Market

Axiro Semiconductor Private Limited, a fully-owned subsidiary of CG Power and Industrial Solutions Limited, has taken a strategic step towards expanding its global footprint by establishing Axiro Semiconductor (Shenzhen) Co., Ltd. in China.

The new entity was officially incorporated on March 20, 2025, signaling CG Power’s interest in strengthening its presence in the semiconductor industry within one of the world’s largest electronics manufacturing hubs. This move aligns with the growing demand for semiconductor components across various industries, including automotive, consumer electronics, and industrial applications.

Dr. Reddy’s: Divestment of Louisiana Manufacturing Facility

Pharmaceutical major Dr. Reddy’s Laboratories has completed the sale of its entire stake in Dr. Reddy’s Laboratories Louisiana LLC, including its manufacturing facility in Shreveport, Louisiana, USA. The transaction was executed by its U.S.-based subsidiary, Dr. Reddy’s Laboratories Inc.

As a result of this sale, Dr. Reddy’s Laboratories Louisiana LLC is no longer a step-down wholly owned subsidiary of Dr. Reddy’s. This move reflects the company’s ongoing strategy to optimize its manufacturing footprint, possibly reallocating resources to other key markets or facilities.

Apollo Hospitals: Increasing Stake in Keimed Pvt Ltd

Apollo Healthco Limited (AHL), a subsidiary of Apollo Hospitals, is set to increase its stake in Keimed Pvt Ltd by acquiring an additional 11.2% stake from promoter Shobana Kamineni for a total consideration of ₹625.43 crore.

In addition to this acquisition, AHL will also make a primary investment of ₹99.99 crore in Keimed. This dual investment move suggests Apollo Hospitals’ commitment to expanding its presence in the healthcare and pharmaceutical distribution sector, leveraging Keimed’s network to enhance its supply chain and operational capabilities.

These corporate actions highlight strategic shifts in various industries, from semiconductors and pharmaceuticals to healthcare expansion, which may shape the future direction of these companies.

Key Stocks in Focus: Power Grid Corporation of India & Power Finance Corporation

Several notable developments have emerged in the power and infrastructure sector, with Power Grid Corporation of India (PGCIL) and Power Finance Corporation (PFC) making strategic moves. Here’s a detailed breakdown of their latest activities.

Power Grid Corporation of India: Acquisition of Transmission SPVs

Power Grid Corporation of India Limited (PGCIL) has successfully acquired three special purpose vehicles (SPVs)—Fatehgarh II and Barmer I PS Transmission, along with Chitradurga Bellary REZ Transmission—through a competitive bidding process managed by PFC Consulting. The total acquisition cost for these projects is ₹26.57 crore.

• The Fatehgarh II and Barmer I PS Transmission project focuses on increasing transformer capacity (ICT augmentation) at both existing and under-construction substations in Rajasthan. This upgrade is expected to enhance the efficiency and reliability of power transmission in the state.

• The Chitradurga Bellary REZ Transmission project, on the other hand, involves the construction of new 765/400/220kV pooling substations near Davangere/Chitradurga and Bellary in Karnataka. Additionally, it includes the development of 765kV & 400kV double-circuit (D/C) transmission lines and the upgrading of existing substations and transmission networks in the region.

These acquisitions reflect Power Grid’s commitment to strengthening the national transmission network, particularly in regions with high renewable energy generation potential.

Power Finance Corporation: New SPVs & Leadership Update

Power Finance Corporation (PFC), a key player in power sector financing, has made significant advancements through its subsidiary, PFC Consulting, which has established two new special purpose vehicles (SPVs):

• NES Dharashiv Transmission: This SPV has been set up to implement a network expansion project in Maharashtra, designed to facilitate the evacuation of renewable energy from Dharashiv. Efficient transmission of renewable energy is crucial for integrating clean power into the grid.

• NES Navi Mumbai Transmission: This entity is focused on developing a transmission network expansion plan to support power needs for data centers in Navi Mumbai. With the rapid growth of digital infrastructure, ensuring a stable and scalable power supply for data centers is becoming increasingly important.

Additionally, Parminder Chopra, the Chairman & Managing Director (CMD) of Power Finance Corporation, has been assigned additional responsibility as CMD of REC Limited for a period of three months, effective immediately. This interim leadership role highlights her expanding influence in India’s power financing sector.

These developments underscore the continued focus on strengthening India’s power transmission infrastructure, particularly in renewable energy integration and digital infrastructure expansion.