Sep 18, 2023

Stocks to watch: Check out the companies making headlines before the opening bell, on September 18, 2023. 1/11 Tata Steel: The Tata Group company and the UK government announced a joint agreement to invest 1.25 billion pound in electric arc furnace steelmaking at the Port Talbot site. This included a grant from the UK Government of up to 500 million pound. The Port Talbot project will reduce direct emissions by 50 million tonnes over 10 years. Further, the project would also involve Tata Steel’s balance sheet being restructured with potential elimination of the current cash losses in the UK operations and non-cash impairment of legacy investments. 2/11 Wipro: The technology services and consulting major has opened a new office in Jefferson city, Missouri. The office will serve as a base to more than 500 employees and will partner with the state’s Jobs for America’s Graduates (JAG) programme to attract local talent. 3/11 Jupiter Life Line Hospitals: The Mumbai-based healthcare services provider will list its equity shares on the BSE and NSE on September 18. The issue price has been fixed at Rs 735 per share. 4/11 Hindustan Aeronautics: The Defence Acquisition Council has accorded approval for Acceptance of Necessity (AON) for procurement of 12 Su-30MKI Aircraft from Hindustan Aeronautics, with associated equipment and avionics upgradation of Dornier Aircraft. 5/11 Bharat Electronics: The state-owned defence company has received an order of Rs 2,118.57 crore from Cochin Shipyard for supply of various equipment consisting of sensors, weapon equipment, fire control systems and communication equipment for six numbers of Next Generation Missile Vessels (NGMV), class of anti-surface warfare corvettes for Indian Navy. Further, it also received additional orders worth Rs 886 crore for upgradation of AFNET SATCOM N/W & Akash missiles with RF Seeker, and inertial navigation system and other equipments with accessories and spares. With this it has received orders worth Rs 14,384 Crore till now in FY24. 6/11 Indian Oil Corporation: The company has received the board nod for additional investment of Rs 903.52 crore in Hindustan Urvarak and Rasayan (HURL). HURL is a joint venture of Indian Oil incorporated for setting up of fertilizer plants at Gorakhpur, Sindri and Barauni. 7/11 Lemon Tree Hotels: The hotel chain has opened Peninsula Suites in Bengaluru. This is the sixth property in the city under the Lemon Tree umbrella. The property is managed by subsidiary Carnation Hotels, and the hotel management arm of Lemon Tree Hotels. 8/11 Texmaco Rail & Engineering: The rail solutions provider has received approval from the board of directors for raising of funds up to Rs 1,000 crore from issuance of equity shares through qualified institutions placement (QIP). Further, it also got the approval for raising of funds up to Rs 50 crore through preferential issue to promoters. 9/11 Tata Elxsi: The product engineering and innovation-led design services provider announced a global partnership with INVIDI Technologies. This partnership will enable operators to deliver targeted advertising solutions and create new revenue streams. 10/11 Brigade Enterprises: Subsidiary Brigade Tetrarch has entered into a sale deed for acquiring 5 acres 35.25 guntas of land parcel in Bangalore for Rs 123.5 crore, from Bangalore Ceramics. It will be developing a residential project on this land parcel with an overall development of nearly one million square feet with an overall revenue potential of around Rs 800 crore. 11/11 Zomato: Zomato Slovakia s.r.o, the step down subsidiary of the food delivery giant in Slovak Republic has initiated the process of liquidation on September 14. Further, Zomato Slovakia does not have any active business operations. It may be further noted that Zomato Slovakia is not a material subsidiary of the Company, and the dissolution of Zomato Slovakia will not affect the turnover/revenue of the company. Sunil Matkar