Stocks in the news: Tata Power, Tata Steel, Adani Power

Domestic indices opened on a weak note on Wednesday, tracking global cues. Sensex and Nifty extended losses for a second session led by financial stocks on worries over surging domestic inflation and the prospect of aggressive monetary tightening by the US Federal Reserve. The Nifty was down 0.5% at 17,862, as of 0355 GMT, while the sensex fell 0.6% to 59,815.71.
Here are the stocks likely to buzz in Wednesday’s trading session:
Tata Power
Shares of power utility operators including Tata Power have been rising as demand for power surged due to hotter weather. Last week, the company said that it has received approval from the Mumbai bench of the National Company Law Tribunal for the merger of Coastal Gujarat Power Ltd (CGPL) with itself.
CGPL is a wholly-owned subsidiary of Tata Power and operates the 4,000 MW UMPP in Gujarat. The scheme provides for the amalgamation of CGPL with Tata Power and is expected to result in many benefits including streamlining the corporate structure and consolidation of assets and liabilities of CGPL within Tata Power, the company statement said.