Stocks To Watch: Ashoka Buildcon, Coforge, Bajaj Electricals, PCBL, JSW Energy & More

On Monday, 18th March popular stocks like IRCON International, Avenue Supermarts, Zydus Lifesciences, KPI Green Energy and Balrampur Chini Mills are among the top 10 stocks that are likely to be in the focus of the market watchers.

Ashoka Buildcon

Out of the total 9,45,00,000 equity shares to be acquired, the company has acquired 4,91,39,970 fully paid-up equity shares of Rs. 10/-each from GVR Infra Projects Limited held in GVR Ashoka Chennai ORR Limited (CORR), an Associate business.

IRCON International

Ircon International Limited has won a construction order for Twin Tube Uni-directional Aizawl Bypass Tunnel of 2.5 km and its approaches of 2.1 km from km 10.600 to km 15.200 (Package-2) on Sairang - Phaibawk section of NH-6 in the State of Mizoram on EPC Mode at a quoted bid price of Rs. 630.66 Crores. The contract is to be executed within 36 months, as per a BSE filing.

JSW Energy

For the Solar Energy Corporation of India Limited (SECI) Wind Power Projects (Tranche - XVI), JSW Neo Energy Limited (JSW Neo), a wholly-owned subsidiary of JSW Energy Limited, has obtained a Letter of Awards (LoA) for an additional 500 MW of wind capacity under greenshoe option. Following this, JSW Neo has been allocated a cumulative capacity of 1,000 MW under SECI Tranche XVI. With 1.6 GW coming from wind power, the company's installed generation capacity is at 7.2 GW now. By CY24, the company anticipates having an installed capacity of 9.8 GW. The company's total locked-in generating capacity climbs to 12.5 GW, of which 4.6 GW will be wind, with this assigned capacity of 500 MW under SECI Tranche XVI.

Avenue Supermarts

On Saturday, the company's Board of Directors authorized the acquisition of a 26% shareholding in the equity share capital of Fourth Partner Energy Private Limited's wholly-owned subsidiary, FP Ampere Energy Private Limited. The acquisition aims to increase the company's power consumption from renewable sources. The deal, which involves up to Rs 2 Cr in cash consideration, is anticipated to be finalized by December 31, 2024.

Zydus Lifesciences

The US Food and Drug Administration (USFDA) has given Zydus Lifesciences Limited final permission to market Tadalafil and Finasteride Capsules USP 5 mg/5 mg (USRLD: ENTADFI TM). Benign prostatic hyperplasia is treated with finasteride and tadalafil. The medication will be produced in Ahmedabad SEZ II, India, at the group's formulation manufacturing plant. Since the filing process began in FY 2003-04, the organization has submitted approximately 460 ANDAs and now has 392 approvals.

KPI Green Energy

In the Maharashtra State Power Generation Co. Ltd. (MAHAGENCO) tender for the development of the 100MWAC Solar Power Project, the company has come out as a successful bidder. The company's strategic objective and ambitious goal of reaching 1000 MW by 2020 is in line with the tender.

Balrampur Chini Mills

Sulzer AG, Alpine Engineering GmbH, and Jacobs are three well-known technological experts with whom Balrampur Chini Mills Limited (BCML) has signed partnerships. Modern methods for producing polylactic acid (PLA) will be supplied by Sulzer AG to help India develop its first-ever bioplastics facility. The partnership between BCML and Alpine Engineering GmbH is their second engagement focused on providing technology and technical advising services for the production of PLA-grade lactic acid from sugar. A subsidiary of Jacobs Solutions Inc., Jacobs Solutions India Private Limited is responsible for providing Engineering, Procurement, and Construction Management (EPCM) services for the full setup and integration of lactic acid and polylactic acid manufacturing facilities.

PCBL

A term sheet between PCBL Limited and Kinaltek Pty. to form a joint venture has been signed. The company's Board of Directors authorized the venture at its board meeting on March 16, 2024, and as a result, the company and Kinaltek Pty Limited executed a joint venture agreement with a 51:49 ratio in the company's favor. The company will own 51% of the joint venture company's shareholding and will contribute USD 16,000,000 as consideration, with a commitment to contribute additional funds up to USD 28,000,000 in stages (subject to the achievement of certain milestones).

Container Corporation of India

A Memorandum of Understanding (MOU) has been signed between Container Corporation of India Limited (CONCOR) and Central Warehousing Corporation (CWC) to establish a strategic partnership with the goal of promoting innovation and efficiency in logistics. In order to achieve mutual objectives and provide seamless and affordable end-to-end logistics services, including "First Mile Last Mile" solutions, the collaboration will involve sharing infrastructure, technology, expertise, and resources. The ultimate goal of this collaboration is to lower the nation's logistics expenses overall by providing its stakeholders with the best logistics solutions.

Coforge

At its meeting on March 16, 2024, the company's Board of Directors approved the raising of funds through the issuance of a particular number of equity shares of the company, each with a face value of Rs. 10, and/or other eligible securities, or any combination thereof, for a total amount of up to Rs. 3,200 crores through qualified institutional placement (QIP).

Bajaj Electricals

The company has received a tax demand order of Rs.25.90 lakh which includes a general penalty of Rs.1.83 lakh. "The Company is currently exploring various legal options and necessary steps, including challenging the Order issued by the GST Authority before the relevant appellate authority," said Bajaj Electricals in a regulatory filing on March 16, 2024.