Holdings to Monitor – New Delhi The stocks listed below may be of interest on Monday:
Tata Power: Has emerged victorious in the bidding process to acquire Bikaner-III Neemrana-II Transmission, a project SDV established by PFC Consulting, an affiliate of Power Finance Corp. Build-Own-Operate-Transfer will be the project’s development model. Transmission service will be provided for 35 years starting on the planned date of commercial operations, which is 24 months after the date of the SPV acquisition. An estimated ₹1,544 crore will be spent on the project.
GAIL: In the London Court of International Arbitration, the company has filed an arbitration case against SEFE Marketing & Trading Singapore Pte Ltd (formerly Gazprom Marketing and Trading Singapore Pte Ltd). The 30-day-old claims, which total $1.817 billion, concern the non-fulfillment of a long-term contract by GAIL regarding LNG cargoes.
Alkem Laboratories: From November 27 to December 1, the US Food and Drug Administration (FDA) conducted an inspection of the company’s API manufacturing facility in Mandva. Based on the inspection, the FDA issued a Form 483 that included three observations. There was not a single data integrity observation.
Life Insurance Corp: On Saturday, the state-owned insurer Life Insurance Corp of India announced that it had changed a set of rules to permit the appointment of directors who are also shareholders to the board. Last year, LIC was listed on exchanges. The government sold off its 3.5 percent share in the insurer to raise ₹20,557 crore.
Hindustan Unilever: The FMCG giant and Brookfield have teamed up to build a 45 MW solar energy park in Rajasthan. This will support HUL’s transition to net zero.
Eicher Motors: Topping 80,251 units sold in November, Royal Enfield motorcycle sales increased 13% year over year. Last month’s exports totaled 5,114 units, up 2% year over year.
Hero MotoCorp: The biggest two-wheeler manufacturer in the world reported sales of 4.91 lakh units in November, up 25.6% from the previous year.
Suzlon Energy: With the purchase of roughly 24.73 lakh shares, investment firm BlackRock Inc.’s equity holding in renewable energy solution provider Suzlon Energy Ltd. has surpassed the 5% threshold.
Godrej Properties: The purchase of land parcels was the primary cause of the company’s 17% increase in net debt to ₹6,174 crore during the July–September quarter. The Mumbai-based Godrej Properties’ net debt increased from ₹5,298 crore at the end of June to ₹6,174 crore as of September 30, 2023, per its investor presentation.
