Quick Stock Market Updates as of 27 February 2024

1. Vodafone Idea Board Approves Fundraise of Up to Rs 45,000 Crore

Vodafone plans to raise Rs 45,000 crore through a combination of equity and debt. It includes raising of Rs 20,000 crore through a combination of equity or equity-linked instruments and the remaining amount through debt.

The meeting of its shareholders will be held on April 2, 2024. After the shareholder approval, the company expects to complete the equity fund raise in the coming quarter.

The fundraiser will help Vodafone Idea to expand business for 4G coverage, 5G network rollout, and capacity expansion. It will also help to improve its competitive positioning and offer an even better customer experience.

Also Check: Industry Leader Makes Surprise Move with 51% Stake

2. JSW Energy Expands Renewable Portfolio with 700 MW Solar Order

JSW Energy shares gained after its subsidiary received an order for 700 MW solar capacity from SJVN.

The project is required to supply power of full contracted capacity within 24 months,

The company’s total locked-in capacity increases to 11 GW, including 1.4 GW of solar capacity.

JSW Recent performance: In the December quarter, the JSW Group company reported a 24.36 percent year-on-year increase in consolidated net profit and an increase in Revenue of 13.3 percent to Rs 2,661.41 crore.

Also Check: The Next Big Things? 2 Small Caps That Could Change the Game

3. ₹3,000-crore Adani Aerospace and Defence ammunition factory opens in UP

Adani enterprise is aggressively ready with an investment plan of Rs 3000+ crore. The complex is the largest in South Asia and was built by Adani Group. The project will generate around 4000 jobs with five times the multiplier effect on MSMEs.

Additionally, Adani Group will be signing a Memorandum of Understanding (MoU) with the aerospace department of IIT Kanpur, as per Karan Adani.

Read More: Adani Power Share Price Target 2025, 2026, 2027, 2030

4. Moloco and Viacom18 Team Up for Future-Proof Ad Serving on JioCinema

A new partnership between Moloco and Viacom18, where Moloco will use its technology to serve ads on JioCinema. This will allow JioCinema to show targeted ads to viewers. JioCinema is a streaming service owned by Viacom18. The number of viewers on JioCinema has grown in recent years. This partnership is expected to benefit both companies.

5. PM Modi Inaugurates 3 Major Space Infrastructure Projects Of ISRO

The three projects will provide world-class technical facilities for the space sector involving a cumulative cost of about ₹ 1,800 crore.

Keep an Eye on Aerospace & Defence companies Missed the Railway Run? Catch These 7 Aerospace & Defence Stocks Before They Take Off 

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