Stocks to watch: TCS, M&M, Vedanta, Tata Power, Dr Reddy’s, Tata Motors

Stocks to watch today: The Sensex and Nifty are expected to start Friday’s trading on a bullish note amid strong global signals. As of 07:30, the SGX Nifty Futures was reading 16,270 levels, indicating a gap of 140 points on the Nifty50.

In the meantime, here are a few stocks that could see action in the market today:

Results: Tata Consultancy Services, Kohinoor Foods, MMTC, Spectrum Foods and Brahmaputra Infrastructure will release their Q1FY23 quarterly results today.

M&Ms: Britain’s development finance institution, British International Investment (BII), will invest Rs. late night notification. M&M and BII will each invest $250 million in the new entity called EV Co. at a valuation of Rs 70,070 crore ($9 billion).

Dr. Reddy’s Laboratories: The US health regulator issued Form 483 with two observations after inspecting its manufacturing plant located in Srikakulam in Andhra Pradesh.Read here

Tata Power: The company would spend Rs 75,000 crore over the next five years to expand the capacity of its renewable energy business, chairman N Chandrasekaran said on Thursday. An amount of Rs 10,000 crore would be spent in 2022-2023 (FY23) to bring the total capital expenditure (capex) during the financial year to Rs 14,000 crore, Chandrasekaran told the 103rd annual general meeting of the company, which was held virtually. Read more

Vedanta: Mining giant Vedanta announced on Thursday that it would acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore in an all-cash transaction. The company’s liquidation process was initiated in March last year. According to Vedanta, the deal will close in the current fiscal year, meeting its power needs for its aluminum business.Read here

Tata engines: Jaguar Land Rover, owned by Tata Motors, on Thursday reported a 37% drop in retail sales to 78,825 units in the quarter ended June, impacted by shortages of semiconductors, COVID-19 lockdowns in China and the transition to a new Range Rover Sport model. Jaguar brand sales were down 48% to 15,207 units in the April-June 2022 period, while Land Rover’s were also down 33% to 63,618 units. Read here

City of Shriram: Shareholders and secured and unsecured creditors of the company have approved the merger with Shriram Transport Finance Company (STFC). The merger of Shriram City with STFC is to create Shriram Finance – India’s largest retail NBFC.

Oberoi Real Estate: The booking value for the business in Q1FY23 stood at Rs 750 cr compared to Rs 930 cr from the previous quarter. It booked 164 units in April-June compared to 234 units in the fourth quarter.

Adani Ports and Special Economic Zone: The company said the board had reviewed and approved the appointment of Dr Muthukumaran as the company’s chief financial officer and key management personnel, effective July 25.

Alkem Laboratories: The company received Form 483 with a comment regarding the ANDA filed for products to be manufactured at the Indore plant. There are no comments on data integrity. The US FDA conducted a Good Manufacturing Practices (GMP) inspection and pre-approval inspection at the Indore manufacturing facility from July 1-7.

Bank of Baroda: The bank said its investment committee would hold a meeting on July 16 to finalize the quantum and timing of long-term bond issuance for infrastructure and affordable housing funding outside the board-approved limit. of Rs 5,000 crore.

Price : The company has entered into a license agreement with BMS PowerSafe SAS, France, to provide battery management system to original equipment manufacturers in the Indian market and international markets, across all vehicle segments. BMS PowerSafe is the brand of Startec Development Group.

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