Stocks To Watch: ABB India, Hindalco Ind, IREDA, Archies, Marico, GAIL & More

ABB India, Hindalco Ind, IREDA, Archies, Marico, and GAIL are among the top 8 stocks for Wednesday, February 21st, that market observers probably keep an eye on.

Wipro

The Wipro Enterprise Artificial Intelligence (AI)-Ready Platform, a new service that enables customers to build their own enterprise-level, fully integrated, and customised AI environments, has been launched by Wipro Limited. Born out of an expanded multi-year relationship between IBM and Wipro, the Wipro Enterprise AI-Ready Platform.

The extended alliance aims to improve the deployment of strong, dependable, integrated, and enterprise-ready AI solutions by integrating the industry expertise of Wipro with cutting-edge hybrid cloud and AI innovation from IBM. The IBM TechHub@Wiprosolution, which aims to promote and support collaborative client pursuits through a centralised group of subject matter experts, engineers, assets, and processes, is being jointly funded by Wipro and IBM as part of their relationship.

Ashok Leyland

With the groundbreaking ceremony for a new integrated commercial vehicle facility in Uttar Pradesh that will focus on green mobility, Ashok Leyland accomplished a major milestone. The 70 acres that make up the greenfield manufacturing facility will be utilised. With the newest production technologies, this Ashok Leyland plant will be the greenest and most advanced in the world, producing products with top-notch quality standards.

The manufacture of electric buses will be the main priority, but other vehicles powered by current and new alternative fuels can also be produced. Ashok Leyland has taken a significant step by establishing this factory, which puts it at the forefront of the state's green mobility revolution. This plant would be the sixth automotive plant owned by Ashok Leyland in the nation.

Archies

The company has secured Purchase Orders for the supply of paper bags from V-Mart Retail Limited aggregating to Rs 12.80 Lakhs and Mohan Clothing Company Private Limited aggregating to Rs 12.31 Lakhs.

IREDA

In his speech on the recently launched "PM Surya Ghar Muft Bijli Yojana," the Chairman and Managing Director of IREDA reveals his vision for the retail division and elevates rooftop solar projects. This was during the panel discussion on "Green Financing: Architecture for Accessible Finance," which was held on Tuesday and was organised by CII in collaboration with the Ministry of External Affairs.

He described how IREDA aims to create a Retail Division to serve retail projects related to Business-to-Consumer (B2C) markets such as Electric Vehicles, PM-KUSUM, Rooftop Solar, and others. He said that, with the government of India's consent, IREDA might establish a wholly owned subsidiary to serve the demands of the retail segments.

Hindalco Industries

The Securities and Exchange Commission (SEC) has received a draft registration statement on Form F-1 from Novelis Inc., a fully owned subsidiary of Hindalco Industries, regarding its scheduled initial public offering of its common shares. It is anticipated that Novelis, a fully owned subsidiary of Hindalco Industries Limited, will make an offer for its common shares.

Novelis will not receive any proceeds from the sale of common shares by its sole shareholder. Novelis expects to complete the public offering after the SEC completes its review process, subject to market and other conditions, as per a stock exchange filing.

ABB India

For the fourth quarter that ended on December 31, 2023, ABB India Ltd. announced a 10.9% YoY growth in net profit at Rs 338.7 crore on Tuesday, February 20. ABB India reported a net profit of Rs 305.3 crore for the same period the previous year, according to a regulatory filing from the company.

Compared to the same time in the previous fiscal year, when it was Rs 2,427 crore, the business's revenue from operations climbed by 13.6% to Rs 2,757.5 crore. In comparison to the same period in the previous fiscal year, when EBITDA was Rs 364.3 crore, it increased 14.6% to Rs 417.2 crore in the fourth quarter of the current fiscal year. The board recommended paying Rs 23.8 per share as the final dividend.

GAIL India

Bank officers, LOI holders, compressed biogas (CBG) producers, technology providers, representatives from the World Bank, members of the Indian Biogas Association, oil and gas marketing companies, the Haryana Renewables Energy Development Agency (HREDA), the Punjab Energy Development Agency (PEDA), and various Ministries and Departments were present at the CBG Workshop, which was held at Chandigarh under the auspices of the Ministry of Petroleum and Natural Gas.

The Indian government has set lofty goals to attain net zero emissions by 2070 and to supply half of its energy needs from renewable sources by 2030. In line with these objectives, CBG has shown itself to be a competitive green fuel alternative that benefits all stakeholders, including the income of farmers.

Manappuram Finance

The company said on Tuesday that its Financial Resources and Management Committee will be meeting on Friday, 23rd February 2024 to consider the issue of nonconvertible debentures.