Stocks To Watch: Adani Green, Adani Energy, Cupid, SJVN, BEL & More

Among the top 10 hot stocks Adani Green, Adani Energy, SJVN, BEL, and Bajaj Finance are probably going to stay in the spotlight for market observers on Wednesday, December 27.

Bharat Electronics

Navratna DPSU Bharat Electronics Limited (BEL) and the UP Government inked a contract for Rs. 445 Cr for the next-generation UP Dial 112 project. BEL is set to supply cutting-edge hardware, artificial intelligence (AI) software tools, and cyber security solutions for the state of Uttar Pradesh's Dial 112 initiative. BEL is pleased to be working on this project, one of Asia's largest emergency response systems, with the UP Government. BEL will carry out this project by leveraging the network of domestic suppliers, which includes MSME's.

Since the previous announcement on December 22, 2023, the company has also received further orders totalling Rs. 233 Cr. These orders are related to various parts and services, thermal imaging cameras, and communication display units. With the aforementioned, BEL has received orders totalling Rs. 26,613 Cr. for the current fiscal year 2023-2024.

Bajaj Finance

The Debenture Allotment Committee of the company has at its meeting held on 26 December 2023, allotted 48,500 Secured Redeemable Non-Convertible Debentures ('NCD'), at the face value of Rs. 1 Lakh each and in case of re-issuance at the face value of Rs. 10 Lakh, aggregating to Rs. 1,057.33 Crore, as per a stock exchange filing.

Maruti Suzuki India

On December 26, 2023, the company's Board of Directors accepted Mr. Kazunari Yamaguchi's (DIN: 07961388) appointment as a non-executive additional director, effective January 2, 2024.

Power Grid Corporation of India

Power Grid Corporation of India Limited was chosen as the winning bidder in Tariff-based competitive bidding, and on December 26, 2023, it acquired Koppal II Gadag II Transmission Limited (KIIGIITL), the Project SPV, to establish a Transmission System for the "Transmission Scheme for Integration of Renewable Energy Zone (Phase-II) in Koppal-II (Phase-A & B) and GadagII (Phase-A) in Karnataka" on a build, own, operate and transfer (BOOT) basis from PFC Consulting Limited, the bid process coordinator. As part of the project, two new 765kV D/C transmission lines and one 400kV D/C transmission line crossing through the state of Karnataka, as well as related bay extension work at the Narendra and Raichur Substations, will be established, along with a new 400/220kV and 765kV Koppal-II pooling station.

The 500 MW "Evacuation of RE in Tirunelveli and Tuticorin wind energy zone (Tamil Nadu)" project has been put into service as of December 24, 2023, and on December 26 of the same year, a Notification for Commercial Operation (DOCO) was received by the company.

SJVN

The company has secured a 100 MW Solar Power Project through an e-Reverse Auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). Through a tariff-based competitive bidding procedure of GUVNL, the company successfully won the quoted capacity of the 100 MW Solar Project at Rs 2.63/Unit on Build Own and Operate basis. The company's fully owned subsidiary, SJVN Green Energy Limited (SGEL), will create this ground-mounted solar project, with an estimated cost of Rs 550 crore. The project may be created anywhere in India, and it is anticipated to be completed and put into service within 18 months of the Power Purchase Agreement (PPA) being signed. For a period of 25 years, SGEL and GUVNL will sign the PPA.

It is anticipated that the project would produce around 252 million units in its first year of operation, and that 5,866 million units of energy will be produced cumulatively during a 25-year period. It is also expected that the activation of this solar project would result in a reduction of 2,87,434 tonnes of carbon emissions. With this project added, the company's portfolio of solar and wind energy stands at 5,090.5 MW, of which 179.5 MW are now in operation, 1,860 MW are in construction, and 3,051 MW are in different phases of implementation. The corporation is making great strides towards achieving its goals, which include installing 50,000 MW of capacity by 2040, 25,000 MW by 2030, and 12,000 MW by 2026.

Adani Energy Solutions

Adani Energy Solutions Limited (AESL) announced that it has received the Letter of Intent (LoI) from PFC Consulting Limited (PFCCL) regarding the acquisition of Halvad Transmission Ltd. PFCCL has established a special purpose vehicle (SPV) called Halvad Transmission Ltd. with the objective of removing 7 GW of Renewable Energy (RE) from Khavda RE park as part of the Phase III Part A package. Through the Tariff-Based Competitive Bidding (TBCB) procedure, AESL was awarded the project. It will be put into service on a BOOM (Build, Own Operate and Maintain) basis during the next 24 months. For a duration of 35 years, AESL will invest around Rs 3,000 crore to construct, own, run, and maintain the 301 km (656 ckm) transmission project. Establishing a 765 kV Halvad switching station with two 330 MVAr bus reactors and a 765 kV D/C line from Lakadia to Ahmedabad is part of the project.

Adani Green Energy

With TotalEnergies, Adani Green Energy Limited (AGEL) has declared the completion of its 1,050 MW joint venture (JV). Under the terms of the JV, TotalEnergies contributed USD 300 million to the AGEL subsidiary in order to acquire a 50% stake in the projects. This comes after the legally-binding JV announcement made in September 2023 by AGEL and TotalEnergies. The 1,050 MW portfolio is housed in the JV and consists of a combination of solar and wind power facilities in India that are both now operational (300 MW), under development (250 MW), and under construction (500 MW). Through this deal, TotalEnergies has strengthened its strategic partnership with AGEL and contributed to AGEL's goal of 45 GW of capacity by 2030. '

Cupid

The Rs. 113-crore open offer by Columbia Petro Chem Private Limited and Aditya Halwasiya to acquire up to 3.47 million equity shares, or 26% of Cupid Limited, at a price of Rs. 325 per share was successfully completed. Public shareholders submitted just 367 shares in response to an Open Offer that included up to 34,67,880 fully paid-up equity shares. Through Columbia Petro Chem Private Limited and Mr. Aditya Halwasiya, the Universal-Halwasiya Group and Family followed the open offer.

They had previously acquired 5.58 million shares, or 41.84 percent of Cupid Limited's issued and paid-up capital, at a cost of Rs. 285 per equity share, or Rs. 159.06 crores, from the company's outgoing promoters, Mr. Omprakash Garg and Mrs. Veena Garg. In accordance with all applicable SEBI standards, the Acquirers of Cupid Limited have successfully completed their Open Offer. Tuesday, December 12, 2023 saw the opening of the issue, which was successfully concluded on Tuesday, December 26, 2023.

Aditya Birla Capital

Aditya Birla Capital Limited (ABCL) has invested on a rights basis in equity shares valued at Rs. 50,00,00,000 in Aditya Birla Capital Digital Limited (ABCDL) and Rs. 849,99,99,456 in Aditya Birla Finance Limited (ABFL). As a result of the aforementioned investments, ABCL's % shareholding remains unchanged, and both ABCDL and ABFL are still the company's fully owned subsidiaries.

KPI Green Energy

The 16.83 MWp of solar power plants under the company's "Captive Power Producer (CPP)" division were successfully put into service. The company successfully finished the tasks in its scope in accordance with the terms of the contracts it had with the relevant CPP customers. Furthermore, in the names of the appropriate customers, permissions from the Chief Electrical Inspector (CEIG) have been received.