The Indian stock market showed positive momentum on Tuesday's weekly expiry day, with indices rising nearly half a percent. Several listed companies made significant announcements, ranging from dividend declarations to stake sales and strategic initiatives.

Dividend Announcement

Prakash Industries has set September 17 as the record date for distributing a dividend of Rs 1.50 per share. Shareholders on record as of this date will be eligible to receive the dividend payment.

Stake Sales and Offers

Blue Jet Healthcare's promoter, Akshay Bansarilal Arora, is preparing to sell shares through an offer for sale (OFS) opening on Wednesday. This move is likely to attract investor attention and potentially impact the company's stock price.

In a significant development for the banking sector, Sumitomo Mitsui has announced plans to divest its entire 1.65% stake in Kotak Mahindra Bank. The block deal, valued at approximately Rs 6,166.00 crore, represents a substantial transaction in the market.

Automotive Sector Updates

Bajaj Auto has decided to pass on the benefits of GST reduction to its customers, offering substantial savings across its product range. Two-wheeler buyers can expect savings of up to Rs 20,000.00, while three-wheeler customers may save up to Rs 24,000.00. This move could potentially boost sales and market share for the company.

Legal and Regulatory Developments

Vodafone Idea has approached the Supreme Court to challenge additional Adjusted Gross Revenue (AGR) demands for the period until 2016-17. This legal move highlights the ongoing challenges in the telecom sector regarding regulatory dues.

In a separate development, the Managing Director of Bikaji Foods has been summoned by the Enforcement Directorate in connection with an investigation into the Rajasthan Premier League.

Strategic Initiatives

Tata Power and Tata Passenger Electric Mobility have joined forces to launch India's largest TATA.ev MegaCharger hub. This initiative underscores the Tata Group's commitment to electric vehicle infrastructure and could position the companies favorably in the growing EV market.

New Project Acquisition

Sterling and Wilson Renewable Energy has secured a significant order worth Rs 415.00 crore for a solar power project in Rajasthan. This contract win strengthens the company's project pipeline and demonstrates its continued growth in the renewable energy sector.

The diverse range of corporate actions and announcements across various sectors reflects the dynamic nature of the Indian market. Investors and market participants will likely be watching these developments closely for their potential impact on individual stocks and broader market trends.

Several Indian listed companies have made significant announcements, ranging from share buybacks to leadership changes and strategic initiatives. Here's a roundup of the latest developments:

Infosys to Consider Share Buyback Proposal

Infosys Limited, a leading IT services company, has announced that its Board of Directors will consider a proposal for a buyback of fully paid-up equity shares at its meeting scheduled for September 11. The company informed the stock exchanges that the decision would be made in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. The outcome of the board meeting will be disclosed to the stock exchanges after its conclusion.

Hero MotoCorp Appoints New CEO

Hero MotoCorp, India's largest two-wheeler manufacturer, has announced the appointment of Harshavardhan Chitale as its new Chief Executive Officer. Chitale is set to assume his role effective January 5, 2026, marking a significant leadership change for the company.

Hudco Signs MoU for Nagpur Metro Development

Housing and Urban Development Corporation (Hudco) has entered into a Memorandum of Understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA). The agreement involves funding of Rs 11,300.00 crore for the development of the Nagpur Metro over a five-year period, demonstrating a substantial commitment to urban infrastructure development.

TVS Motor to Pass on GST Cut Benefits

TVS Motor Company has announced that it will pass on the full benefits of the recent GST rate cut to its customers, effective September 22. This move is likely to impact pricing and potentially boost sales for the two-wheeler manufacturer.

PCBL Chemical's Ambitious Growth Plans

PCBL Chemical has unveiled ambitious expansion plans, aiming to increase its capacity by 50% across all product lines over the next five years. Additionally, the company has set a target to achieve a five-fold growth in profits, signaling a strong focus on both operational expansion and financial performance.

Coal India Explores Data Centers in Decommissioned Mines

Coal India Limited, the state-owned coal mining corporate, is evaluating the possibility of establishing data centers in its decommissioned mines. This innovative approach aims to meet the growing demand for digital capacity while potentially repurposing unused mining infrastructure.

Voltamp Transformers: Potential Block Deal by Promoter

Voltamp Transformers has announced that its promoter is considering selling up to 7.88 lakh shares, representing approximately 7.88% of the company's equity, through block deals. This move could potentially impact the company's shareholding structure.

These developments across various sectors highlight the dynamic nature of India's corporate landscape, with companies making strategic decisions to drive growth, improve efficiency, and adapt to changing market conditions.