Stocks To Watch: L&T, Vedanta, Adani Ports, NHPC, Adani Total Gas & More

Popular stocks include Adani Total Gas, Adani Ports and Special Economic Zone, Vedanta, Torrent Power, and Ujjivan Small Finance Bank are among the top 10 stocks that market observers are likely to be focusing on on Thursday, January 4, 2024.

Adani Total Gas

A Memorandum of Understanding (MoU) aimed at decarbonising the supply chain by establishing an ecosystem that would facilitate the transition to cleaner fuels like CNG and LNG has been signed by Adani Total Gas Limited (ATGL) and Shigan Quantum Technologies Limited (Shigan). Both partners' main goal is to get fleet operators to use sustainable natural gas solutions, such as those used by Adani Group enterprises in the cement, port, and logistics industries, for transportation and mining applications.

Hero MotoCorp

Hero MotoCorp's state-of-the-art manufacturing facility in Gurugram, Haryana, has been declared the "Winner" in the "Within the Fence" category and has been awarded the CII National Award for Excellence in Water Management. Hero MotoCorp is a company that is well on its way to reaching its promised goal of 500% water-positive by 2025. The largest motorcycle and scooter manufacturer in the world, Hero MotoCorp, is presently saving around 3.8 million kiloliters of water annually.

NHPC

At the 2024 Vibrant Gujarat Global Summit, NHPC Limited and GPCL signed a memorandum of understanding (MoU) for a potential Rs. 4,000 crore investment in the 750 MW Kuppa Pumped Storage Project in Chhota Udaipur, Gujarat, with a proposed commencement date of 2024-25.

Adani Ports and Special Economic Zone Limited

Adani Ports and Special Economic Zone Ltd (APSEZ) has elevated CEO Mr Karan Adani to the role of Managing Director, a position which was held by Mr Gautam Adani, Chairman of the Adani Group, as per a stock exchange filing. Renamed as "Executive Chairman," Mr Gautam Adani will now lead APSEZ, one of the world's fastest-growing integrated transportation utilities. The selection of Mr. Ashwani Gupta, a former global chief operating officer of Nissan Motors, as the new chief executive officer of Adani Ports and Special Economic Zone Ltd. has also been accepted by the board of APSEZ.

Vedanta

Vedanta Ltd. reported on Wednesday that during the third quarter of the current fiscal year, its total output of aluminium rose by 6% to 5,99,000 tonnes. 5,66,000 tonnes of aluminium were produced by the company at the same time last year. In contrast to 69,000 tonnes during the same period last year, Zinc International's total mined output dropped by 40% to 41,000 tonnes in the December quarter. Vedanta stated in a regulatory filing that its Karnataka production of marketable iron ore was steady at 1.4 million tonnes during the third quarter of the current fiscal year.

Torrent Power

On January 3, 2024, as part of the Investment Promotion Activity for the Vibrant Gujarat Global Summit 2024, the company signed a Memorandum of Understanding (MoU) worth Rs. 47,350 Crs. with the Department of Energy & Petrochemicals, Government of Gujarat. The purpose of the agreement was to establish 3,450 MW of solar power projects, 1,045 MW of hybrid power projects, associated infrastructure for a 7,000 MW solar project, a green hydrogen/green ammonia production facility, and capital expenditure for a distribution network.

Larsen & Toubro

The firm has finalised the sale of its entire stake in L&T Infrastructure Engineering Limited to STUP Consultants Private Limited, after the fulfilment of usual conditions precedent. As a result, L&T no longer regards L&T Infrastructure Engineering Limited as a subsidiary.

CEAT

The tyre manufacturer CEAT Ltd announced on Wednesday that tax authorities in Maharashtra and Vadodara had sent them a GST demand and penalties totalling more than Rs 19 crore. According to a regulatory filing from CEAT Ltd, the Additional Commissioner, CGST & Central Excise, Vadodara, has issued an order for interest of Rs 3.27 crore and a penalty of Rs 13.68 crore in response to the show cause notice (SCN) that was initially issued regarding the delay in adhering to input tax credit to the credit ledger, which was caused by a technical issue of TRAN-1 return. Whereas, the Maharashtra Deputy Commissioner of State Tax has issued an order seeking payment of Rs. 22 lakh, interest of Rs. 26 lakh and a penalty of Rs. 2 lakh for adhering to a SCN that was initially issued for the reversal of input tax credit due to supplier nonpayment of tax.

Ujjivan Small Finance Bank

The bank has announced that its total deposits reached Rs 29,869 Cr in the quarter ended December 2023 up by 29% YoY from Rs 23,203 Cr in the year-ago quarter. In the quarter under review, its CASA was Rs 7,549 Cr up by 24% YoY from Rs 6,070 Cr in the same quarter of FY23 where its CASA Ratio stood at 25.3% which was 26.2% in the corresponding quarter of the previous fiscal. The bank's gross loan book reached Rs 27,791 Cr in Q3FY24 up by 27% YoY from Rs 21,895 Cr in Q3FY23. With PAR/GNPA at 3.6%/2.1% versus 3.7%/2.2% as of September 30, 2023, credit quality continues to improve.

Indian Energy Exchange

Indian Energy Exchange had a 14.9% YoY rise in volume in the December 23 quarter with 9,707 MU total, including 10.52 Lac Renewable Energy Certificates (RECs). In December 2023, IEX recorded 8,655 MU of total electrical volume, representing an 8.7% YoY growth. IEX had 28,326 MU total volume for the third quarter of the fiscal year 2024, representing a YoY basis growth of 16.9%. Government statistics on December 23 showed that the nation's energy consumption, at 119.07 BUs, remained stagnant.