Stock to Watch Today - Rupeedesk Reports - 03.04.2023
Buzzing Stocks: Auto stocks, JSW Energy, RVNL, Sterlite Tech, HG Infra & others in news today.
HG Infra Engineering: The infrastructure company has received the Letter of Award for two highway projects worth Rs 1,762.4 crore from National Highways Authority of India, in Jharkhand on hybrid annuity mode. The order worth Rs 998.4 crore is for construction of 6-lane greenfield Varanasi-Ranchi-Kolkata highway from Deoria village to Donoreshan village, and the other worth Rs 764.01 crore is for construction of 6-lane greenfield Varanasi-Ranchi-Kolkata highway from Lepo village to Kamlapur village.
Udayshivakumar Infra: The road construction company will make its debut on the bourses on April 3. The final issue price has been fixed at Rs 35 per share.
Rail Vikas Nigam: The state-owned railway company has bagged several orders including Letter of Award from National Highway Authority of India for construction of six lane elevated Kona expressway project worth Rs 720.67 crore in West Bengal on EPC mode. The second order is in joint venture from Ministry of Railways for manufacturing cum maintenance of Vande Bharat Trainsets including up-gradation of the government manufacturing units & trainset depots, where the total quantity is 120 trainsets and cost per set is Rs 120 crore. RVNL and TTIPL (Tracks & Towers Infratech) consortium received Letter of Award from NHAI for 'construction of 6-lane Greenfield Varanasi-Ranchi-Kolkata highway project worth Rs 1,271.98 crore in Jharkhand on Hybrid Annuity Mode.
Maruti Suzuki India: The country's largest car maker has sold 1.7 lakh units in March 2023, down 0.2% over same month last year, with domestic sales (contributed 82% to total sales) falling 2.7% and exports rising 13.7% to 30,119 units. In FY23, total sales volumes increased by 19% to 19.66 lakh units compared to previous year with domestic sales rising 20.7% and exports up 8.8%.
Tata Motors: The commercial and passenger vehicles manufacturer sold 91,048 units in March, up 1.7% over 89,516 units sold in same month last year, with commercial vehicle exports down 42% at 1,516 units. It registered total sales of 2.51 lakh units in Q4 FY23, up 3% over Q4 FY22, with commercial vehicle exports falling 59% at 4,023 units.
Bharat Heavy Electricals: The company has received an Letter of Intent (LOI) for supply of strategic equipment for defence sector for Rs 3,700 crore. The order will be delivered over next 12 years.
Orient Electric: The CK Birla Group company has appointed Rajan Gupta as its Managing Director and CEO, for five years, effective April 4, after resignation of Rakesh Khanna as MD & CEO with effect from April 3.
Bank of India: The public sector lender has increased its marginal cost of fund based lending rate (MCLR) by 10-40 bps across tenures with effect from April 1.
Time Technoplast: The company has received approval from Petroleum and Explosives Safety Organization (PESO) for manufacturing of composite cylinders for oxygen and breathing air.
Hero MotoCorp: The world's largest motorcycles and scooters manufacturer has sold 5.19 lakh units in March 2023, rising 15% over 4.5 lakh units sold in same month last year. Domestic sales volume grew by 21% YoY to 5.02 lakh units, but exports fell 52% to 16,612 units.
JSW Energy: Subsidiary JSW Neo Energy has received a Letter of Intent from Power Company of Karnataka Limited for procurement of 2,400 MWh (300 MW x 8hrs) energy storage from pumped hydro storage project. The Letter of Intent is for providing storage capacity for a period of 40 years. The project would be located in Karnataka and designed for eight hours storage capacity per day.
SML Isuzu: The company has sold 2,169 units of cargo and passenger vehicles in March 2023, a 59% YoY growth, while during the year FY23, total sales volumes increased by 68% to 12,442 units.
NCC: The construction company has received 5 new orders of Rs 1,919 crore in March. Out of these orders, two orders worth Rs 952 crore relating to transportation division, two orders of Rs 792 crore related to electrical division, and one order of Rs 125 crore relating to building division.
Waaree Renewable Technologies: The company has received Letter of Intent for executing a 1 MW green hydrogen project in Maharashtra on built-own-operate basis. The project is expected to be executed in 12 months.
Godrej Properties: The company has acquired around 4 acre land parcel near Koregaon Park, in Pune. The development on this land will primarily be a luxury group housing project.
Karur Vysya Bank: The private sector lender has tied up with SBI Life Insurance. SBI Life will market its insurance schemes through the branches of the bank. The bank is a major player in South with strong presence in urban, semi-urban and rural locations.
Cigniti Technologies: The digital engineering services company has appointed Srinivas Kandula as Executive Director on the board. Kandula was ex-Chairman and CEO of Capgemini India.
Escorts Kubota: The agri machinery business in March 2023 sold 10,305 tractors, registering a growth of 2.3% over 10,074 tractors sold in March 2022, with domestic tractor sales increasing 1.2% to 9,601 units and exports rising 19.1% to 704 units.
TVS Motor registers 3% growth in March sales at 3.17 lakh units TVS Motor Company: The company has registered a growth of 3% with sales increasing from 3.07 lakh units in March 2022 to 3.17 lakh units in March 2023, but exports fell 31.6% YoY to 75,037 units in March. TVS iQube electric recorded sales of 15,364 units in March 2023 as against sales of 1,799 units in March 2022.
Eicher Motors: Commercial vehicle sales volume in March increased by 35.2% to 11,906 units compared to year-ago month driven by domestic business, but exports dropped 36.5% YoY to 414 units. In FY23, company sold 79,623 units, a 39.5% growth over previous year as domestic sales volumes jumped 53.6% to 72,827 units, but exports fell 41.5% to 4,933 units. Royal Enfield announced its sales for March 2023 at 72,235 motorcycles, up 7% YoY and recorded total sales of 8.34 lakh motorcycles in FY23, registering its highest ever overall sales in history, up 39% over the previous financial year.
Kansai Nerolac Paints: The company has entered into a Share Purchase Agreement with Polygel Industries, its Promoters and Nerofix for acquisition of shares (40% of the total shareholding) of Nerofix from Polygel. After the said acquisition, Nerofix has become a wholly owned (100%) subsidiary of Kansai Nerolac Paints. Kansai had acquired 60% stake in Nerofix in January 2022.
HIL: The building material company has started commercial production of Birla aerocon panels at its Balasore plant, Odisha with a capacity of 36,000 MT per annum effective from March 31, 2023.
GR Infraprojects: The company has received Letter of Award for construction of 4-lane access controlled greenfield highway from Venkatpur village in Warangal district to Thallasenkesa village in Mahabubabed district under other economic corridor programme on Hybrid Annuity Mode in Telangana. The cost of project is Rs 847.87 crore. In addition, the company also received Letter of Award for a project worth Rs 1,248.37 crore for construction of 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Anarbansalea village to Sagrampur village in Bihar on Hybrid Annuity Mode.
Borosil: Subsidiary Klass Pack has executed a binding share purchase agreement to acquire a 90.17% stake in Goel Scientific Glass Works, a leading manufacturer of industrial glass process systems. Now Goel Scientific Glass Works will become a subsidiary of Klass Pack and in turn a step-down subsidiary of Borosil.
PNC Infratech: The company has received Letters of Award for three projects worth Rs 3,264.43 crore, from National Highways Authority of India (NHAI). All these projects are parts of 6-lane Greenfield Varanasi - Ranchi - Kolkata highway construction in Bihar on Hybrid Annuity Mode.
Ethos: The company has completed acquisition of 100% stake in Silvercity Brands AG, a Swiss stock corporation having its registered office in Switzerland, for CHF 50,000. Now Silvercity Brands AG has become the wholly owned subsidiary of the company.
NIBE: The company has received 4 purchase orders worth Rs 39.76 crore from Larsen & Toubro for manufacturing of bridge center module structure and other assemblies and sub-assemblies of modular bridge project.
Adani Ports and Special Economic Zone: The Adani Group-owned transport utility has completed the acquisition of Karaikal Port (KPPL) after the NCLT approval. Karaikal Port, an all-weather deep-water port on India’s eastern coast, handled ~10 MMT of cargo in FY23 and acquisition cost of Rs 1,485 crore implies an EV/EBITDA multiple of ~8x on FY23 EBITDA number.
Bharat Electronics: The Navratna defence PSU has achieved a turnover of about Rs 17,300 crore in FY23, a 15% growth over turnover of Rs 15,044 crore in FY22. Its order book as on April 1, 2023, is around Rs 60,500 crore including orders of around Rs 20,200 crore in FY23.
Garden Reach Shipbuilders & Engineers: The warship builder has achieved an annual turnover of Rs 2,550 crore for FY23 and revenue growth of 45%. It also signed the contract worth Rs 3,500 crore with Ministry of Defence for construction of four next generation offshore patrol vessels (NGOPVs), with the first NGOPV scheduled to be delivered in 44 months.
Dixon Technologies: The company has incorporated a wholly owned subsidiary Dixtel Communications to undertake trading of electronic equipments, and other related parts thereof.
Life Insurance Corporation of India: Tablesh Pandey has taken charge as Managing Director of LIC of India with effect from April 1. Tablesh was the Executive Director and Chief Risk Officer of the Corporation.
PSP Projects: France-based financial services company Societe Generale has bought 6.2 lakh shares in the construction company via open market transactions at an average price of Rs 664.35 per share, amounting to Rs 41.2 crore. However, promoter Shilpaben Prahaladbhai Patel was the seller, offloading same shares at same average price.
Shriram Properties: Navi Mumbai-based Aurum RealEstate Developers has bought 2.42 crore equity shares or 14.27% stake in property developer via open market transactions, at an average price of Rs 55.05 per share. However, foreign company WSI WSQI V (XXXII) Mauritius Investors exited the Shriram Group company by selling entire shareholding of 2.42 crore shares at same average price.
Hindustan Aeronautics: The state-owned defence company has registered highest-ever revenue from operations of around Rs 26,500 crore for FY23, increasing 8% over revenue of Rs 24,620 crore in FY22. The order book stood at around Rs 82,000 crore at the end of March 2023.
Bata India: Life Insurance Corporation of India has acquired 6.88 lakh equity shares or 0.536% stake in the footwear company via open market transactions, raising total shareholding in the company to 5.008%, up from 4.472% earlier.
Campus Activewear: Raman Chawla has resigned as Chief Financial Officer of the company with effect from June 10, 2023. Company is in the process of appointing a new Chief Financial Officer.
Ashoka Buildcon: The company has received Letter of Acceptance from Ministry of Railways for engineering, procurement and construction (EPC) project, worth Rs 284.65 crore.
The Phoenix Mills: Foreign portfolio investor Government of Singapore has sold 51.49 lakh equity shares or 2.88% stake in the retail mall developer and operator via open market transactions, at an average price of Rs 1,300.15 per share. Government of Singapore held 4.28% shareholding in the company as of December 2022.
63 Moons Technologies: Subsidiary Ticker Limited has raised Rs 40 crore through private placement of 3.33 crores equity shares at Rs 12 per share. After fund raising, the shareholding of 63 Moons in Ticker stood at 75.42%.
CreditAccess Grameen: The company has completed three direct assignment transactions of Rs 936.63 crore and a PTC transaction of Rs 98.77 crore in March 2023. During Q4FY23, it has raised total funds of Rs 5,840.09 crore through term loans, NCDs, MLD, ECBs, direct assignments & PTC.
Edelweiss Financial Services: The board has approved the public issue of non-convertible debentures of the face value of Rs 1,000 each for amount up to Rs 200 crore, with an option to retain oversubscription up to Rs 200 crore, aggregating to Rs 400 crore, which is within the shelf limit of Rs 1,000 crore. The Tranche II Issue will remain open for subscription during April 6 and April 21.
Continental Petroleums: The company's turnkey projects business has received orders for supply, erection, installation, testing & commissioning of material / equipment for the various activities of development of distribution infrastructure at Dausa circle of Jaipur DISCOM of Rajasthan. The total contract price is Rs 180.79 crore.
Piramal Pharma: The US Food and Drug Administration has conducted a Good Manufacturing Practices (GMP) inspection of Piramal Pharma's Digwal facility during March 27-31, 2023. The inspection was completed successfully with zero Form - 483 observations.
Zomato: The food delivery giant has initiated the process of liquidation for Zomato NZ Media Private Limited (ZNZMPL), the New Zealand wholly owned subsidiary, and Zomato Australia Pty Limited (ZAPL), the Australia step-down subsidiary. Both are not material subsidiaries of the company and the dissolution of both will not affect the turnover/revenue of the company.
Tinplate Company of India: Rajeev Singhal resigned as non-executive director of the company, with effect from March 31.
Garnet Construction: The board has approved appointment of Kishan Kumar Kedia as Chief Financial Officer of the company with effect from March 31.
Greaves Cotton: Greaves Electric Mobility, the e-mobility business of Greaves Cotton, has achieved over 1 lakh retail sales of its brand Ampere electric 2 wheelers in FY23. In a year full of milestones, Ampere has more than tripled registrations in Vaahan.
Barbeque-Nation Hospitality: The food services company has detected an IT security incident on its IT assets, and then has isolated its impacted IT assets. The core operations are unaffected and all the restaurants are fully operational, serving both dine-in and delivery.
Dredging Corporation of India: The company informed exchanges that GYV Victor, MD & CEO has been suspended by the Chairman and Disciplinary Authority, with effect from March 31, after the completion of disciplinary proceedings against Victor.
Sterlite Technologies: Its subsidiary has completed the sale of telecom products and software business to Skyvera LLC. The subsidiary had signed an agreement for the said transaction on March 28.
EIH Associated Hotels: The company has acquired 40 acres of land on a lease from the Government of Andhra Pradesh for construction, development and operation of a five-star luxury hotel / resort in Visakhapatnam. The lease deed has been signed and registered on March 31. The lease period for the land will be for 94 years including 4 years of construction of hotel / resort..
Nila Infrastructures: The company has received a work order from Ahmedabad Municipal Corporation for construction of affordable housing on PPP basis. The total development cost is Rs 63.06 crore for construction of 658 affordable housing units and 30 commercial shops.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
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