Stocks to Focus on: Force Motors, BHEL, RVNL, IEX, Tata Steel

By siliconindia  |  Thursday, 06 June 2024, 10:02:20 AM IST

Stocks to Focus on: Force Motors, BHEL, RVNL, IEX, Tata Steel
Indian markets are expected to open flat to positive on Thursday, according to GIFT Nifty, with futures indicating a slight increase. Political uncertainty in New Delhi is likely to ease after the BJP-led NDA Alliance confirmed Narendra Modi's upcoming oath-taking ceremony as Prime Minister for the third consecutive term. Across the Asia-Pacific region, markets showed a positive trend, with Japan's Nikkei 225 and South Korea's Kospi both posting gains, while Hong Kong's Hang Seng index futures were trading higher.
Force Motors: The company experienced a 13.38 percent surge in domestic sales in May, moving 2,412 units, while exports plummeted by 63.34 percent to only 180 units.
Bharat Heavy Electricals: The company clinched an order worth Rs 3,500 crore from Adani Power's Mirzapur Thermal Energy (UP) Private Limited for a 2x800 MW thermal power project in Uttar Pradesh.
RVNL: Rail Vikas Nigam (RVNL) bagged multiple orders worth more than Rs 500 crore.
IEX: The Indian Energy Exchange (IEX) recorded a total monthly volume of 10,633 MU in May 2024, reflecting a 28.9 percent year-over-year increase.
Tata Steel: The Netherlands is considering providing up to $3.26 billion for the eco-friendly overhaul of Tata Steel Ltd.’s IJmuiden factory, which has been linked to severe health and environmental issues in the surrounding area.
TCNS Clothing: TCNS Clothing's shareholders overwhelmingly approved the merger with Aditya Birla Fashion and Retail Limited, with a staggering 99.9 percent in favor.
Torrent Pharmaceuticals: The company has inked a non-exclusive patent licensing agreement with Takeda Pharmaceuticals to introduce Vonoprazan, a novel potassium-competitive acid blocker (P-CAB) used for treating gastroesophageal reflux disease (GERD), in India. Vonoprazan will be marketed under Torrent's trademark, Kabvie.
KP Green Engineering: The company has secured new orders from multiple clients totaling Rs 351.35 crore.
Trident: Trident's Dhaula facility faced operational disruption due to a massive fire accident occurring at 8.30 pm on Wednesday.
Edelweiss Financial Services: The company’s subsidiary, Edelweiss Rural and Corporate Services Limited, received a tax demand of Rs 1.21 crores under Section 147 of the Income Tax Act, 1961. Additionally, other subsidiaries, Ecap Securities and Investments Limited and Edel Finance Company Limited, faced tax demands of Rs 55.11 crores and Rs 29.45 crores respectively.
Adani Power: Adani Power's stake in Mirzapur Thermal Energy surged to 99.8 percent after Mirzapur Thermal Energy U.P. Private Limited allotted 50 lakh equity shares of Rs 10 each on a preferential basis.
Kalpataru Projects International: The company will deliberate and approve a proposal for raising funds by issuing non-convertible debentures (NCDs) on a private placement basis.
Century Textiles and Industries: The company’s subsidiary Birla Estates has partnered with Barmalt India for a luxury residential group housing development in Sector 31, Gurugram.
Reliance Infrastructure: The company has established a new subsidiary, Reliance Risee Private Limited, to provide advisory and consultancy services related to engineering and technology, and engage in commodities and their derivatives.
Aptech Limited: The company has secured a contract from the Ministry of Electronics and Information Technology to conduct computer-based tests.
Infinite India: Janisha Shah will step down as the compliance officer of Infinite India effective 31 May.
Bharat Parenterals: Bharat Parenterals intends to acquire approximately 99 lakh equity shares of its subsidiary, Innoxel Lifesciences, on a preferential basis at Rs 64.90 per share, in addition to its existing equity holdings.
PNB Housing Finance: The company’s nomination and remuneration committee approved the grant of 72,500 restricted stock units of Rs 10 each to certain eligible employees under the PNB Housing Restricted Stock Unit Scheme 2020.
Kalpataru Projects: The company’s board will convene on 10 June to discuss raising funds through the issuance of Non-Convertible Debentures on a private placement basis.
Heritage Foods: Heritage Foods unveiled a new range of pure ghee laddus under the brand name ‘Truly Good’.
VIP Industries: Nisaba Godrej resigned as an independent director from the board of VIP Industries due to differences in succession planning with Dilip Piramal, the company's founder-chairman.
Uno Minda: The company has entered into an agreement with Suzhou lnovance Automotive for the manufacture and sale of select high voltage category electric vehicle products for passenger vehicles and commercial vehicles in India.
IndiGo: The airline is exploring various financing options for the wide-body planes expected to join its fleet in 2027.

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