Stocks To Watch On September 18: Domestic markets remained subdued for the third consecutive day on Tuesday, ending slightly in the green. In today’s trade, shares of VST Industries, Torrent Power, REC, Tata Power, Mankind Pharma among others will be in focus due to various news developments.
IndiGo: Aviation watchdog DGCA is probing the incident of tail strike involving an IndiGo aircraft on September 9 and the flight crew has been derostered, a senior official said.
VST Industries: Ace investor Radhakishan Damani has reduced stake in VST Industries by 0.65% at the end of June quarter.
Mankind Pharma: Mankind Pharma said it will consider raising funds via NCDs, commercial papers, other debt securities among others on September 20.
REC: The company has signed non-binding memorandums of understanding worth approximately Rs 1.12 trillion ($13.37 billion) with renewable energy developers, that involve projects in solar, wind, hydroelectric, battery energy, and green ammonia sectors. REC plans to increase its renewables loan book to over Rs 3 trillion by 2030, aiming for renewables to make up 30 per cent of its portfolio by then.
Tata Motors: The vehicle manufacturer is making strides in the used electric vehicle (EV) market, collaborating with online marketplaces like Spinny to facilitate the resale and exchange of EVs. The company has already started listing used Tata Nexons on these platforms. Additionally, Tata Motors and Jaguar Land Rover (JLR) are set to manufacture electric vehicles in India for global markets, with production expected to start at the Sanand facility.
Hindalco Industries: The company is planning to enter the solar module manufacturing sector with a new plant in Mundra, Gujarat. The company, a leading aluminium producer, is evaluating a five-year plan for this venture. The plant would mark Hindalco’s first move into green energy components manufacturing.
NTPC: Nuclear Power Corporation of India Limited (NPCIL) and NTPC have been approved to establish a joint venture, ASHVINI, to build four 700 MWe nuclear power plants at Mahi Banswara, Rajasthan. This joint venture aims to enhance India’s nuclear power capacity as a part of the country’s goal to achieve 22,800 MW of nuclear power by 2031-32.
Tata Power: The company plans to invest up to $9 billion to expand its renewable energy capacity to over 20 GW over the next five to six years. Tata Power aims to increase its renewable energy capacity from 5 GW to more than 20 GW by 2030, with a goal of achieving 100 per cent clean power generation by fiscal year 2045.
Jupiter Wagons: The company has announced a Rs 2,500 crore capacity expansion plan to build a new facility in Odisha for producing forged wheelsets. The expansion will increase production capacity from 20,000 to 100,000 wheelsets per year and is expected to be operational by 2027.
Torrent Power: The company has received a letter of intent for a 1,500 MW pumped hydro storage project from Maharashtra State Electricity Distribution Co Ltd (MSEDCL). The project, which will supply power for 40 years, is part of Torrent Power’s strategy to enhance energy storage capabilities.
SpiceJet: The company has set a floor price of Rs 64.79 per share to raise up to Rs 3,000 crore through a qualified institutional placement (QIP). Additionally, the airline is facing financial difficulties and it said it has substantial unpaid statutory dues. Funds from the QIP are intended to address various financial obligations and expand the airline’s fleet.
Infosys: The IT services company has announced a long-term collaboration with Metro Bank to digitise its operations using Infosys Topaz, its AI-first offerings. The partnership aims to enhance Metro Bank’s digital capabilities, improve automation, and save costs, targeting annualised savings of 80 million pounds.
DCM Shriram Industries, Life Insurance Corporation: LIC has reduced its stake in DCM Shriram Industries from 6.68 per cent to 4.66 per cent over three years, selling shares at an average price of Rs 110.072. DCM Shriram Industries is engaged in the production and sale of sugar, alcohol, and industrial fibers.
EaseMyTrip: The online travel portal has entered the medical tourism sector with acquisitions totaling Rs 90 crore. The company has acquired a 49 per cent stake in Pflege Home Healthcare and a 30 per cent stake in Rollins International, expanding its offerings to include medical and wellness services.
RattanIndia Enterprises: Revolt Motors, owned by RattanIndia, has launched its first electric motorcycle, the RV1, priced at Rs 84,990. The company also introduced a premium variant, RV1+, at Rs 99,990. This move marks Revolt’s entry into the commuter e-motorcycle segment, aiming to expand its product line over the next five years.
Comments
0 comment