Tata Motors, NDTV, HPCL, Shriram Finance, Alkem Laboratories, Siemens India, SJVN stocks in focus on 26 Dec

Tata Motors, NDTV, HPCL, Shriram Finance, Alkem Laboratories, Siemens India, SJVN stocks in focus on 26 Dec

Indian benchmark indices are likely to open in green, hinted SGX Nifty on Monday. Nifty futures were trading marginally higher at 17886 on the Singapore Exchange. In the previous session, BSE Sensex plunged 981 points, to 59,845, and NSE Nifty 50 tanked 321 points to 17,807. “Going forward, there remain multiple global macro factors at play which would likely have a bearing on the direction of equity markets. Indian growth outlook appears stable and a relative outlier. However, the external sector is the key monitorable. Indian markets are trading at valuations which are above long-term averages on an absolute basis and valuations relative to emerging markets are stretched. With this backdrop, we believe that bottom-up stock picking would be the way forward in 2023,” said Shibani Sircar Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra AMC.Stocks in focus on 26 December, Monday

Tata Motors: Tata Motors subsidiary TML CV Mobility Solutions has signed a contract with the Delhi Transport Corporation (DTC) for the operation of 1,500 electric buses in New Delhi. TML will supply, operate, and maintain 1,500 12-metre, low-floor, air-conditioned electric buses for a period of 12 years.

Shriram Finance: The company has announced an interim dividend of 150%, or Rs 15 per equity share with a face value of Rs 10 each, fully paid up. The dividend has been announced for the Financial Year 2022-23. According to the regulatory filing, 4 January 2023 has been fixed as the record date, for the purpose of payment of interim dividend. The interim dividend payout will be made to eligible shareholders on or after Wednesday, 18 January 2023.

Hindustan Petroleum Corporation (HPCL): The OMC is considering selling partial equity stake of its subsidiary HPCL Shampooer Pvt Ltd. (HSEPL), a joint venture between HPCL and Shampooer Palliation. Sources in both HSEPL and the Gujarat’s ports and transport department confirmed to FE that the PSE is exploring the option of selling up to 50% stake to suitable buyers.

Alkem Laboratories: Eight Roads Ventures India Healthcare IV LP, and F-Prime Capital Partners Life Sciences Fund VI LP are going to pick an 8% stake in Alkem subsidiary Enzene Biosciences for Rs 161.48 crore. The transaction is expected to be completed by January 2023 The funds will be used for capacity expansion in India and the United States.

Siemens India: The company has bagged a contract with the Indian Railways for the manufacture and maintenance of electric freight locomotives. The contract is for 11 years and involves the production of 1200 high-horsepower electric locomotives and the maintenance of these locomotives for 35 years at the railway factory at Dahod. It is estimated that the contract will cost around Rs 26000 crores. The contract is expected to be signed by both parties in the next 30 days.

SJVN: The company has expanded its footprint in wind energy as it has won the full capacity of the 100 MW wind power project at Rs 2.90 per unit on a build-own-and-operate basis through an e-reverse auction.

Quess Corp: The company has said that due to the changed market scenario, the board has decided to withdraw the proposal for the amalgamation of Allsec Technologies with the company. The board has appointed Kamal Pal Hoda as the Group CFO of the company with effect from 10 January 2023, in place of N Ravi Vishwanath.