Stocks To Watch: Sun Pharma, NHPC, Adani Green Energy, KVB, Tata Elxsi & More

On Tuesday, December 19, market observers are likely to be keeping a close eye on the top 10 stocks, which include popular stocks like Adani Green Energy, Tata Elxsi, NHPC, Sun Pharma Industries, and Kotak Mahindra Bank.

Devyani International

In order to gain control over Restaurants Development Co., Ltd. ('RD') Thailand, Devyani International DMCC (DID), Dubai, a subsidiary of Devyani International Limited ('DIL'), has signed a Share Purchase Agreement and other transaction-related documents.

Through the acquisition of an equity stake in RD and its holding companies, Devyani International DMCC (DID) hopes to gain entry into Thailand's Quick Service Restaurant (QSR) and Limited Service Restaurant ('LSR') market. Devyani International Limited and Temasek Holdings (Private) Limited, a worldwide investment organisation with its headquarters located in Singapore and over SGD 380 billion in assets under management, are collaborating on this strategic venture into Thailand.

Tata Elxsi

The prestigious German Design Award 2024 was taken home by Tata Elxsi and Tata Motors. For their exceptional work on the Tata Motors Gen 3 HMI design, both world leaders received the esteemed Excellent Product Design award.

Karur Vysya Bank (KVB)

The bank and HDFC Life Insurance Company Ltd. have signed a contract designating HDFC as an additional bancassurance partner for the bank's life insurance product line.

Adani Green Energy

Adani Renewable Energy Holding Nine Limited, a wholly-owned subsidiary of the company, has incorporated 4 wholly-owned subsidiaries, namely, Adani Renewable Energy Sixty Limited (ARE60L), Adani Renewable Energy Sixty Two Limited (ARE62L), Adani Renewable Energy Sixty Three Limited (ARE63L) and Adani Renewable Energy Sixty Four Limited (ARE64L) on December 18, 2023 with authorised share capital of Rs 1 lakh each.

The main objective of the New Subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy, as per a stock exchange filing.

NHPC

This Friday, December 22, 2023, is the planned meeting of the NHPC Limited Board of Directors. The agenda includes a possible discussion of the proposal to monetize future cash flow (which includes Return on Equity) from one or more of the company's power stations for a suitable duration. This is part of the funding plan for the company's capital expenditures (CAPEx) for the current fiscal year 2023-24 or above.

Sun Pharmaceutical Industries

Sun Pharmaceutical Industries Limited and Lyndra Therapeutics, Inc., a Massachusetts-based company that develops innovative delivery technologies for long-acting oral (LAO) therapies, have reached an agreement for Sun Pharmaceutical Industries Limited to acquire approximately 16.7% of the company's fully diluted shares at a cost of USD 30 million.

PNC Infratech

The company has been designated as the lowest bidder for the 6'Construction of Western Bhopal Bypass as 4-lane with paved shoulders along with service road starting from km 424.0 of Jabalpur-Bhopal Road (NH-46) and ending at km 21.0 of Bhopal-Dewas Road (SH-28) with a Design length of 40.90 km in the State of Madhya Pradesh on Hybrid Annuity Mode (HAM)' highway project by Madhya Pradesh Road Development Corporation (MPRDC) on December 18, 2023, for a bid project cost of Rs. 1174 crore.

Piramal Pharma

The expanded antibody-drug conjugate (ADC) production facility of Piramal Pharma Solutions (PPS), a Contract Development and Manufacturing Organization (CDMO) and a division of Piramal Pharma Ltd. (PPL), was opened in Grangemouth, Scotland, UK. By adding another seventy to eighty per cent to the site's capacity, this expansion allows commercial ADC production batches to be scaled up.

Two more ADC production suites have been added to the capacity increase, which was finished in time for commercialization this fiscal year. They are particularly made to complement the three that are already present. A mix of bank loan, government funding from Scottish Enterprise, customer co-investment, and internal accruals was used to finance the £45 million initiative.

Kotak Mahindra Bank

Mr. Eli Leenaars (full name: Mr. Cornelis Petrus Adrianus Joseph Leenaars) has been appointed by Kotak Mahindra Bank Limited to the position of Additional Director and Independent Director of the Bank. This appointment will take effect on January 1, 2024, and will last for four years, provided he satisfies any additional requirements imposed by law or regulation.

Shalby

The Board of Directors of the company's wholly-owned subsidiary Mars Medical Devices Limited (MMDL) has approved the investment of 2,00,000 preference shares of SGD 1 each in Shalby Global Technologies Pte. Ltd., Singapore (SGTPL). SGTPL is a subsidiary of Mars Medical Devices Limited and a step-down subsidiary of the company. The investment mentioned above will result in MMDL acquiring 100% of the preference shares in SGTPL; its equity stake will remain at 99.33%.