Press "Enter" to skip to content

Stocks to Focus: Maruti, TCS, Adani Power, Torrent Power, Tata Motors, IEX | Mint – Mint

Here is the list of the top 10 stocks that will be in focus today:

Maruti Suzuki: Maruti Suzuki India Ltd on Sunday reported a 9 per cent decline in total wholesales at 1,39,347 units in December 2022 compared to the year-ago month. The company had clocked a total sales of 1,53,149 units in the same month in 2021, Maruti Suzuki India (MSIL) said in a statement. Total domestic wholesales were at 1,13,535 units last month as against 1,26,031 units in December 2021, down 9.91 per cent, it added.

Tata Consultancy Services: The Tata Group’s flagship company will announce the third interim dividend for the fiscal on January 9. However, TCS has already fixed the record date for this dividend. TCS has a strong track record of paying dividends to its shareholders. The third interim dividend, if declared, shall be paid to the equity shareholders of the company whose names appear on the records of the Depositories as beneficial owners of the shares as of January 17, 2023.

Adani Power: Adani Power on Saturday said the timeline for the completion of the 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended till January 15, 2023. Earlier, the company had extended the timeline for completion by a month till December 31, 2022. “Parties to the proposed transaction have mutually agreed to further extend the long stop date as January 15, 2023, for achieving the closing/completion,” a BSE filing said.

Torrent Power: Torrent Power Ltd is in talks to buy clean power projects totalling 1.1 gigawatts (GW) from ReNew Energy Global Plc at an enterprise value of around $1.2 billion, two people aware of the development said. Ahmedabad-based Torrent Power has submitted a non-binding offer (NBO) for ReNew’s solar and wind power assets of 350 megawatts (MW) and 750MW, respectively, at an equity value of around $450 million, the people cited above said on the condition of anonymity, adding discussions on valuation are continuing.

Shriram Finance: Non-banking financial company Shriram Finance Ltd. on Friday said that it has secured long-term funding of $100 million from the Asian Development Bank (ADB) to finance its purchase of new and used vehicles across India. The five-year external commercial borrowing (ECB) loan is under SFL’s social finance framework. The fund will enable SFL to provide credit for purchasing new and used vehicles throughout India.

Kalpataru Power Transmission: Kalpataru Power Transmission Limited (KPTL) on Friday said the company and its international subsidiaries have bagged orders worth 1,247 crore in the transmission and distribution (T&D) segment. The orders have been secured in India and overseas markets in the T&D business, the company stated in a press release. With these new orders, the company’s year-to-date FY23 order intake has reached 17,031 crores at a consolidated level.

Tata Motors: Tata Motors on Friday said the acquisition of Ford India’s manufacturing plant at Sanand through its subsidiary will be completed on January 10, 2023. The subsidiary, Tata Passenger Electric Mobility Limited (TPEML), on August 7, 2022, had announced that would acquire Ford India Pvt Ltd’s (FIPL) Sanand plant in Gujarat for 725.7 crore. The acquisition included the entire land and buildings; the vehicle manufacturing plant along with machinery and equipment and the transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand.

Coal India: Coal India is most likely to surpass the ambitious 700 million tonne production target by March 2023, said chairman Pramod Agrawal on 1 January 2023. He added that a ‘price revision is essential’ for the dry fuel to get the company compensated adequately. Once the company meets the annual production target with over 12 per cent growth for the first time set by the government, it will be another feather in coal India’s cap. In 2021-22, the production was 622.6 million tonne.

IEX: Indian Energy Exchange (IEX) on Friday said that it has got shareholders’ approval through a postal ballot to buy back shares worth up to 98 crore. The proposal to buy back shares worth up to 98 crore was approved by the requisite majority through postal ballot, showed a BSE filing. The board of directors in its meeting on November 25 had approved the cash offer for the buyback of equity shares of the face value of 1 each at a maximum price of 200 per share for an aggregate amount of up to 98 crore.

Indian Overseas Bank: Public sector Indian Overseas Bank has elevated Ajay Kumar Srivastava as its managing director and chief executive officer with effect from January 1, the bank said on Saturday. Prior to taking up the new role, Srivastava was serving the city-headquartered bank as its executive director. Srivastava commenced his banking career as a probationary officer at Allahabad Bank in 1991. After serving for over 27 years, he joined Indian Overseas Bank in October 2017.

Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.

Take the test

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.