Stocks to Watch: Tata Power, M&M, Tata Motors, Ashoka Buildcon, Spandana


Today: After back-to-back losses in the last two trading sessions, the will be hoping for some respite on Monday on the back of buying support by FIIs and sustained downtick in Crude Oil prices.

At 07:10 AM, the SGX Nifty futures quoted at 18,380 as against the spot Nifty 50 close of 18,269 on Friday.

In the primary market, Kfin Technologies’ Rs 1,500 crore opens for subscription today in the price band of Rs 347 to Rs 366. The issue closes on December 21.

Meanwhile, following stocks are likely to be in focus in trade on Monday.

Tata Power: The company has requested the Maharashtra power sector regulator, Maharashtra Electricity Regulatory Commission (MERC), to relax the ceiling on the fuel-adjustment charges so as to recover the electricity purchase cost. READ MORE

M&M, Tata Motors: Competition in the EV space is likely to rise, with Ola Electric set to enter the commercial vehicle space with the launch of electric small commercial vehicles (eSCVs) with three and four wheels. Earlier in May, Tatas had launched electric Ace EV, a four-wheel eSCV, and are expected to give deliveries shortly. READ MORE

Spandana Sphoorty Financial: The company’s board is scheduled to meet on December 21 to consider and approve fund raise by way of issue of debentures on private placement basis.

Speciality Restaurants: The company has scheduled its board meet on December 21 to consider and approve a proposals for raising of funds by way of issue of equity shares or any other eligible convertible securities.

Paisalo Digital: The company’s board will meet on December 22 to consider and issue Unlisted, Unsecured, Unrated Non-Convertible Debentures through private placement basis.

Tata Steel: The steel major on Sunday executed the implosion of two obsolete coke plant facilities at Jamshedpur Works, paving the way for new coke oven batteries with the latest technology and higher efficiency.

Jindal Steel and Power: The company plans to spend Rs 7,930 crore under the PLI scheme for specialty steel to manufacture high-end alloy in India, its Managing Director Bimlendra Jha said.

Adani Enterprises: The Gautam Adani-led group plans to invest up to Rs 10,700 crore for the expansion of Lucknow airport, so that its annual passenger handling capacity zooms from 4 million passengers per annum (MPPA) to 39 MPPA.

Ashoka Buildcon: The company’s subsidiaries Ashoka Concessions & Viva Highways have entered into a share purchase agreement with National Investment & Infrastructure Fund & Jaora Nayagaon Toll Road for sale of 100 per cent share capital of JTCL, from ACL & VHL to NIIF for a consideration of Rs 691 crore.

Stocks in F&O ban: Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, IRCTC and PNB are the seven stocks in F&O ban period on Monday.


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