Stocks To Watch: Adani Green Energy, BoB, RITES, Adani Wilmar, UPL & More

Popular stocks like Adani Green Energy, RITES, Adani Wilmar, Godrej Properties, and Mahindra Logistics are among the top 10 stocks that market observers are likely to be keeping an eye on on Tuesday, December 26.

Adani Green Energy Ltd (AGEL)

The Solar Energy Corporation of India (SECI) and Adani Green Energy Ltd. (AGEL) have signed a power purchase agreement (PPA) for the supply of 1,799 MW of solar power. AGEL has finalised the power offtake tie-up for the whole 8,000 MW manufacturing-linked solar tender that SECI awarded to it in June 2020, setting a record as the largest solar tender in history, with the authorization of this balance PPA.

Godrej Properties

Godrej Properties Ltd. (GPL), which is developing Godrej Aristocrat in Sector 49 on Golf Course Extension Road in Gurugram, has said that it has sold an inventory of more than INR 2,600 crore. In terms of the amount of sales made, this is Godrej Properties' most successful launch to date. It has surpassed its previous record launch, which was valued at over INR 2,000 crore at its Godrej Tropical Isle project in Noida, last quarter.

Inox Wind

A significant C&I player has placed an order with Inox Wind Limited (IWL) for 279 MW. The order is for the latest 3 MW Wind Turbine Generators (WTGs) from IWL, and it includes both end-to-end turnkey execution for 99 MW and limited scope EPC for 180 MW of equipment delivery. Furthermore, Inox Wind will offer multi-year operations and maintenance (O&M) services following commissioning. By June 2025, the project will be completed, and WTGs will be placed throughout Gujarat and Rajasthan. This recurring contract comes from a major C&I client for whom Inox Wind has already completed orders totalling around 325 MW.

Kalyan Jewellers India

The company's wholly-owned subsidiary, Kalyan Jewellers FZE, has established a new wholly-owned subsidiary in the United Arab Emirates named "Kalyan Jewellers Procurement LLC." 100% of Kalyan Jewellers Procurement LLC's shares are owned by Kalyan Jewellers FZE, a fully owned subsidiary of Kalyan Jewellers India Limited.

Mahindra Logistics

Mahindra Logistics Ltd. (MLL) announced its acquisition of a majority stake in ZipZap Logistics Private Limited, a last-mile logistics service provider operating under its brand 'Whizzard'. The acquisition will enhance EDeL, MLL's EV-based delivery services, and its current last-mile delivery business. A key component of MLL's development plan is the expansion of technology-based last-mile services, and this deal will hasten the addition of technology, geographic coverage, and operational expertise.

UPL

The company's Board of Directors approved the plan to raise funds up to Rs 4,200 crores through rights issue, subject to gaining any necessary statutory or regulatory approvals. The record date will be announced in due course.

Jindal Steel & Power

An MOU for the operationalization of Rashtriya Ispat Nigam Limited's (RINL) Blast Furnace-3 (BF-3) has been signed between Jindal Steel & Power (JSP) and RINL. The furnace will boost monthly production by 2 lakh tonnes of hot metal when it is lighted on December 30, 2023. Through their partnership with RINL, JSP will be able to discharge more liquid steel from its soon-to-be state-of-the-art Hot Strip Mill at Angul, which is scheduled for commissioning shortly, for use in slab casting and subsequent rolling into Hot Rolled Coils.

Adani Wilmar

Adani Commodities LLP and Lence Pte Ltd., the promoters of Adani Wilmar have proposed to divest part of their shareholding amounting to up to 1.24% of the total paid-up equity share capital of the company aggregating to 16,116,014 equity shares. The divestment process will take place on December 26, 2023 till January 31, 2024 or the actual date of completion of the sale of all equity shares.

RITES

The South Asian Federation of Accountants (SAFA) and The Institute of Chartered Accountants of India (ICAI) presented the company with a Joint Silver Award (PSE category) at the "Best Presented Annual Report Awards, Integrated Reporting Awards & SAARC Anniversary Awards for Corporate Governance Disclosures 2022" ceremony on December 22, 2023.

Aurobindo Pharma

From December 11 to December 22, 2023, the US Food and Drug Administration (US FDA) completed a Pre-Approval Inspection (PAI) at the new injectable plant of Eugia US Manufacturing LLC, a step-down fully owned subsidiary of Aurobindo Pharma Ltd., located in East Windsor, New Jersey, USA.