Stocks to Watch: Tata Motors, Piramal Enterprises, Tata Power, and others
Here are few stocks to watch out for:
Tata Motors: The passenger and commercial vehicle maker has announced net loss of Rs 944.6 crore for the quarter ended September FY23, narrowing from loss of Rs 4,441 crore in same period last year, with strong operating and top line performance. Revenue from operations at Rs 79,611 crore for the quarter grew by 30% and EBITDA increased by 35.4% to Rs 5,572 crore compared to same period last year. Jaguar Land Rover's revenue at 5.3 billion pound grew by 36 percent YoY for the quarter with EBITDA margin at 10.3 percent expanded by 300 bps YoY. Tata Motors to delist its American Depositary shares from The New York Stock Exchange.
Tata Power Company: Tata Power Renewable Energy has received the 'Letter of Award' from the Maharashtra State Electricity Distribution Corporation (MSEDCL) to set up 150MW solar project in Solapur, Maharashtra. The project will be commissioned within 18 months from the PPA execution date.
Happiest Minds Technologies: The company announced partnership with Singapore-based ESG (environmental, social and governance) solution provider CredQuant for BFSI (banking, financial services & insurance) customers. This collaboration with CredQuant will help BFSI customers in addressing ESG screening, ESG rating models, sustainability disclosures & reporting, impact reporting and carbon footprint.
Piramal Enterprises: The company posted a consolidated loss of Rs 1,536.4 crore for the quarter ended September FY23, impacted by impairment on financial instruments, net loss on fair value changes, and higher other expenses. It had consolidated profit of Rs 426.5 crore in year-ago period. Revenue grew by 20.3% to Rs 1,893.7 crore compared to same period last year.
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