Stocks To Watch: IREDA, UNO Minda, Hero MotoCorp, RIL, TVS Motor Company & More

On Tuesday, 2nd April stocks like Bharat Electronics, Zydus Lifesciences, Praj Industries, Tata Consultancy Services and IREDA are among the top 10 stocks that market watchers are likely to watch.

Tata Power

With great pride, TP Saurya Limited (TPSL), a subsidiary of Tata Power Renewable Energy Limited (TPREL), announces the successful commissioning of a 200 MW solar project for Tata Power Trading Company Limited, a subsidiary of The Tata Power Company Limited, in Bikaner, Rajasthan. The project, which is anticipated to produce an astounding 485 million units of energy annually, is in line with the company's objective of substantially boosting India's potential for renewable energy. With a projected yearly reduction of 3,88,000 tons carbon footprint, the effort is ready to make a noteworthy influence on environmental sustainability in addition to its broad energy output.

Bharat Electronics

In the Financial Year 2023-24, Navratna Defence PSU Bharat Electronics Limited (BEL) had a turnover of around Rs. 19700 Cr (Provisional & Unaudited), up 13.65% over the previous year's turnover of Rs. 17,333 Cr. BEL was successful in securing orders of around Rs. 35000 Cr. for the fiscal year 2023-2024. With this, BEL's total order book as of April 1, 2024, is Rs. 76000 Cr. Additionally, BEL had a 92% rise in export sales during FY 2023-24, reaching about US$ 92.98 million compared to US$ 48.33 million in the prior year. BEL's export order book is valued at USD 407 million as of April 1st, 2024, with USD 211 million in export orders gained throughout the fiscal year.

Zydus Lifesciences

Zydus Lifesciences has been granted clearance by the WHO International Non-proprietary Names (INN) to use the term "Usnoflast" as the recommended name for ZYIL1.

Praj Industries

The prestigious National Level Science Competition, conducted at the CV Raman Auditorium, IISER, Pune, was won by IIT Bombay in the Praj-IISER Pune "Mimamsa 2024."

On this occasion, Dr. Pramod Chaudhari, Founder Chairman of Praj, said "Congratulations to team IIT Bombay for winning this year's Mimamsa 2024. I firmly believe in the transformative power of science and technology to address global challenges and drive sustainable progress. Mimamsa is an excellent platform for budding scientists and technocrats to test their mettle in applying fundamentals to practical problem solving.

I commend this student-led and faculty guided initiative at IISER Pune that is drawing participation from all corners of the nation. I am happy to note increasing participation from Tier-III cities and reiterate our long-term commitment to further growing Mimamsa. I would like to congratulate all the finalists and everyone who participated for keeping the scientific fervour high."

Tata Consultancy Services

According to an independent survey by Whitelane Research of the leading IT spending firms in the Nordics (Sweden, Norway, Finland, and Denmark), Tata Consultancy Services (TCS) is the top IT service provider in terms of customer satisfaction. For the fifteenth consecutive year, TCS ranked first in this study. TCS scored 80% on the customer satisfaction score, which is 7% better than the industry average for IT companies.

Shreerang Talekar, Head of TCS in the Nordics and Sweden, said: "We are very proud to be ranked yet again as #1 in Customer Satisfaction in Sweden and in the Nordics by Whitelane Research. This top position recognizes us as a digital transformation partner of choice, bringing innovation to our Customers in the region where we have established trustful relationships for more than 30 years now. Staying close to them and growing together is our highest priority. This is a wonderful testimony to the deep market engagement, which our talented team drives year after year."

TVS Motor Company

Sales at TVS Motor Company jumped from 317,152 units in March 2023 to 354,592 units in March 2024, representing a 12% gain. Sales of the company's two-wheelers went up from 8.40 lakh units in the fourth quarter of the financial year 2022-23 to 10.32 lakh units in the fourth quarter of the financial year 2023-24, representing a 23% rise. The company's three-wheeler division had a four per cent rise in sales, going from 0.29 lakh units in the fourth quarter of the fiscal year 2022-2023 to 0.30 lakh units in the same quarter of the fiscal year 2023-2024. With sales rising from 1.85 lakh units in the final quarter of FY 2022-2023 to 2.50 lakh units in the current quarter, total exports saw a rise of 40 per cent.

The firm had a 14 per cent rise in sales during the fiscal year 2023-24, going from 36.82 lakh units in FY 2022-23 to 41.91 lakh units. The company's two-wheeler sales increased from 35.12 lakh units in FY 2022-2023 to 40.45 lakh units in FY 2023-2024, representing a 15% gain. Compared to 1.69 lakh units in FY 2022-2023 and 1.46 lakh units in FY 2023-2024, the company's three-wheelers registered 1.46 lakh units. In FY 2023-24, total export sales were 10.13 lakh units, compared to 10.68 lakh units in FY 2022-23.

Aditya Birla Fashion and Retail Ltd. (ABFRL)

On Monday, the board of directors of Aditya Birla Fashion and Retail Ltd. (ABFRL) gave the firm's management permission to look into the possibility of vertical demerger of the Madura Fashion & Lifestyle division from ABFRL into a different publicly traded company. With different capital structures and complementary value creation prospects, the two separately listed firms that result from the proposed demerger will be able to expand independently.

Following the required approvals, the demerger will be carried out via an NCLT scheme of arrangement, with equal shareholdings in the newly established company for each ABFRL stakeholder. Once the proposed demerger is completed, ABFRL plans to seek growth capital within a year to strengthen its balance sheet. The proposal mentioned above will require approval from the ABFRL Board of Directors, shareholders, creditors, regulators, and other relevant parties in accordance with all applicable laws.

Hero MotoCorp

At the end of the 2023-24 fiscal year (April 1, 2023-March 31, 2024), Hero MotoCorp had sold 56,21,455 motorcycles and scooters. In the fourth quarter of the fiscal year (Jan-Mar'24), the firm saw growth of 10%. During the fiscal year, Hero MotoCorp's global business revenue grew by 16% as well. The company had sold 490,415 motorcycles and scooters as of March 2024. Hero MotoCorp had its highest-ever monthly sales in March when it sold over 4000 VIDA V1 in retail sales. Hero MotoCorp disclosed its strategic strategy to launch operations in Europe and the UK in FY'25, marking a significant turning point in its global business activities. Furthermore, by engaging new distributor partners in the region, the firm strengthened some of its key international markets, including Costa Rica and Nepal.

Reliance Industries

On March 31, 2024, when his second term ended, Shri Adil Zainulbhai (DIN: 06646490), an independent director of the company, resigned from his position as a director.

UNO Minda

The company has been notified by Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI or OEM) of a worldwide recall of their motorcycles due to oil leakage that was discovered in the engine. The leak was caused by the sealing plug cone coming loose from the engine cover, which was supplied by the company's plant located in Bawal, Haryana. The recalled part supplied by the company has a value of approximately Rs 3.2 crores. However, the OEM has estimated that the recall will cost them Rs 76 crores due to various costs incurred in replacing the recalled parts in different countries worldwide. UNO Minda said it is hopeful of the settlement of this amount by the insurance company and does not foresee any material impact on the financial or operational or other activities of the company.

IREDA

In FY 2023-2024, IREDA recorded the highest-ever loan sanctioned at Rs. 37354 Crore and loan disbursement at Rs. 25089 Crore. At Rs. 59650 Crore, the Loan Book has grown by a record 26.71%.