Markets

Stocks that will see action today

K. S. Badri Narayanan | | Updated on: Apr 01, 2022

Buzzing stocks: Automobile stocks, Lupin, Vedanta, NCC, Hindustan Oil, Omax Autos, Raymond, Nuvoco Vistas, Sterlite Tech, HG Infra

Automobile stocks: Focus will be on automobile companies such as Tata Motors, Maruti Suzuki, M&M, Ashok Leyland, Eicher Motors, Escorts, TVS Motor, Bajaj Auto, Hero MotoCorp and others as they will unveil monthly sales figures for March. Though most analysts expect only weak numbers, any positive surprise could lift the stock of that company.

Lupin: The USFDA has concluded an inspection at the company's wholly-owned subsidiary Novel Laboratories Inc based in Somerset, New Jersey. The inspection commenced on March 7 and concluded on March 30, Lupin said in a statement to the bourses. The inspection closed with thirteen observations.

"We are confident of addressing these observations and will work closely with the agency to address their concerns. We uphold quality and compliance with utmost importance and are committed to being compliant with good manufacturing practice standards across all our facilities," it further said.

Hindustan Oil Exploration Company (HOEC) said that pre-commissioning and safety checks at KGB-Offshore Installation (MOPU) and FSO Prem Pride (FSO) are complete and the system is ready to receive the first hydrocarbons. However, the well opening sequence has encountered operational issues and troubleshooting is currently on, HOEC said.

"The delay witnessed in the commencement of production from the field being unanticipated, necessary corrective actions are being taken by the company, and the field will safely be brought on line for production as soon as the issues are rectified," it further said.

The board of Vedanta has approved plans for the group to source 580 MW of renewable energy for its operations across India. Vedanta has signed a Power Delivery Agreement (PDA) with special purpose vehicles (SPVs) i.e. affiliates of Sterlite Power Technologies Pvt Ltd (SPTPL) — a company engaged in the business to supply hybrid-based power with solar, wind and storage solutions.

NCC Ltd along with other shareholders of NCC Vizag Urban Infrastructure Limited (subsidiary company) have entered into a share purchase agreement with GRPL Housing Private Limited (Gardencity Realty Group, Bengaluru) to sell and transfer their entire shareholding in NCCVUL to the acquirer, subject to obtaining all applicable regulatory approvals. The total consideration is ₹199.50 crore and will be paid in four installments.

Omax Autos Ltd has formally closed its operation at Gurgaon, and sold the industrial property to Sarita Handa Exports Private Limited for ₹68 crore.

GACL-NALCO Alkalies & Chemicals Private Ltd, a joint venture between GACL and National Aluminium Company Limited, has successfully completed the start-up of the 200 tpd caustic evaporation unit (CEU) along with boiler and required utilities in the cogeneration captive power plant and has produced 100 MT caustic soda lye (rayon grade 47 per cent). The product has been filled in tankers and dispatched.

The National Company Law Tribunal (NCLT) has approved the scheme of transfer of Raymond Apparel Ltd business to Raymond Ltd. In September 2021, the board of Raymond had approved demerging the B2C business, including apparels, of Raymond Apparel Ltd (RAL), on a going concern basis to merge with the company itself.

State-owned SJVN on Thursday said it has incorporated a new subsidiary for executing renewable projects. The new subsidiary, SJVN Green Energy Ltd, will work in the verticals of power generation from renewable sources such as solar parks, wind and hybrid projects, battery energy storage systems, assets creation in wave, biomass, small hydro and green hydrogen-based business ventures.

Nuvoco Vistas Corporation has made the timely payment of the redemption amount and interest for its non-convertible debentures of ₹400 crore.

Sterlite Technologies has signed the definitive agreement to sell its 64.98 per cent stake in Maharashtra Transmission Communication Infrastructure (MTCIL) for a total consideration of ₹43 crore.

HG Infra Engineering's subsidiary Gurgaon Sohna Highway Private Limited has received the provisional certificate for the project in Haryana.

The management of Diggi Multitrade Limited is planning to acquire 100 per cent equity share capital of Brookefield Sanjeevani Healthcare private Limited. The management has decided to place the proposal before the Board for its consideration and approval.

Published on April 01, 2022
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