Stocks To Watch: Tech Mahindra, Adani Enterprises, Shoppers Stop, Tata Power & More

On Tuesday, 21st November hot stocks like Tata Power, Oberoi Realty, Container Corporation of India Limited (CONCOR), Adani Enterprises and Tech Mahindra are among the top 10 stocks likely to remain in focus under the radar of market watchers.

Tata Power

One of the major participants in the Indian renewable energy market, Tata Power Renewable Energy Limited (TPREL), a division of The Tata Power Company Limited, has surpassed the 1.4 GW capacity of group captive projects in the previous seven months. The signing of Power Delivery Agreements (PDA) with several industries across segments is what led to this accomplishment. TPREL's total renewable capacity as of October 23 was 7,961 MW thanks to these group captive projects.

This includes 3,755 MW of projects in various stages of development and 4,206 MW of operating capacity, which is made up of 1,006 MW of wind and 3,200 MW of solar projects. In the past six months, TPREL has signed a number of notable group captive projects, some of which are joint ventures with Tata Steel, Tata Motors, Mukand Limited (a company of the Bajaj Group), Supreme Petrochem Limited, Xpro India Limited, Neosym Industry Limited, Chalet Hotels Limited, Sanyo Special Steel Manufacturing India Pvt. Ltd, ANAND Group, and Endurance Technologies Limited, to mention a few. For Tata Power's upcoming 4.3GW solar cell and module manufacturing facility in Tamil Nadu, TPREL is also planning to build a 41MW captive solar plant.

Oberoi Realty

The first luxury residential project in Kolshet, Thane, dubbed "Forestville by Oberoi Realty," officially opened its doors on Monday, according to Oberoi Realty. Forestville, which will occupy 18 acres, will include five residential buildings. The first phase of this development, which consists of three towers, has been started by the corporation. The majority of the apartments in Forestville will be large three-bedroom units with sizes starting at 1090 square feet and costing about Rs. 1.87 crores and more.

Commenting on the announcement, Mr. Vikas Oberoi, Chairman and Managing Director, Oberoi Realty said, "We are excited to foray into Thane with Forestville by Oberoi Realty at Kolshet. We have transformed locations into destinations and now are poised to change the landscape of Thane. By combining cutting-edge design, space planning and biophilic design principles, we aspire to promote healthier lifestyles, an enhanced quality of life and eco-conscious living at Forestville by Oberoi Realty."

Container Corporation of India Limited (CONCOR)

Container Corporation of India Limited (CONCOR) and Indraprastha Gas Limited (IGL) have signed a Memorandum of Understanding (MoU) on Monday to look into the possibility of setting up LNG/LCNG infrastructure within the premises of CONCOR terminals. The purpose of the MoU is to promote environmentally friendly and sustainable transportation. The goal of this strategic cooperation is to revolutionise the logistics business by substituting natural gas for diesel. The Memorandum of Understanding (MoU) demonstrates the commitment of CONCOR and IGL to lower carbon emissions and advance a cleaner, greener future for the transportation sector.

Titagarh Rail Systems

A partnership has been established between ABB and Titagarh Rail Systems to supply propulsion systems for Indian metro rolling stock projects. The collaboration, which supports the Indian government's "Make in India" and "Atmanirbhar Bharat" (self-reliant India) initiatives, has already shown early success in securing agreements to develop and provide metro coach equipment for the state of Gujarat.

By means of a strategic alliance, the two firms want to use their respective strengths and capabilities to establish themselves as prominent players in the Indian market and expand their market reach to encompass additional projects and nations.

ABB propulsion systems, including traction converters, auxiliary converters, traction motors, and TCMS software, are to be purchased by Titagarh under the terms of the collaboration. It also entails obtaining the production license and manufacturing rights for traction motors in addition to fully transferring ABB's GoA 4 (Driverless metro) TCMS software technology to Titagarh. One of India's most industrialised states, Gujarat, has already placed orders for propulsion equipment and TCMS for metro coaches as part of the strategic cooperation.

Gland Pharma

The company has reappointed Mr. Satyanarayana Murthy Chavali (DIN:00142138) as an Independent Director for another term of five years with effect from 20th November, 2023, and approved payment of Commission on profits as remuneration to him. The tenure of Mr. Satyanaryana Murthy Chavali as an Independent Director was completed on 19th November, 2023. Hence, the Board on 17th October, 2023 had reappointed Mr. Satyanarayana Murthy Chavali as an Independent Director for another term of five years with effect from 20th November, 2023, subject to the approval of shareholders, as per a stock exchange filing.

Shoppers Stop

The company has appointed Mr. Rajan Sharma as Customer Care Associate & Chief of Private Brands of the Company w.e.f November 20, 2023. Mr. Ajay Chablani submitted his resignation from the company as President of Private Brands and Customer Care Associate. Mr. Ajay Chablani has stepped down from his position in order to pursue new business ventures. After his resignation was accepted by the company, he will no longer be employed as of November 30, 2023 (closing hours).

IIFL Finance

"CRISIL Ratings Limited ("CRISIL"), the credit rating agency, has revised its outlook on the long-term debt instruments and bank facilities of IIFL Finance Limited ("the Company") and IIFL Home Finance Limited ("IHFL"), a material subsidiary of the Company, from 'Stable' to 'Positive' and has also reaffirmed the rating at 'CRISIL AA'. Further, the rating on the commercial paper of the Company and IHFL has been reaffirmed at CRISIL A1+. Further, CRISIL has revised its outlook on the long-term bank facilities and debt instruments of IIFL Samasta Finance Limited ("Samasta"), a material subsidiary of the Company, from 'Stable' to 'Positive' and has also reaffirmed the rating at 'CRISIL AA-/CRISIL PP-MLD AA-/CRISIL A1+'," said the company in a stock exchange filing.

Adani Enterprises

Mumbai Travel Retail Private Limited, a step-down subsidiary of Adani Enterprises Limited has completed the incorporation process of its wholly owned subsidiary namely "MTRPL Macau Limited" in Macau on 20th November 2023. MTRPL Macau Limited (MML) is incorporated for the purpose of bidding of the tender of Duty-Free Liquor & Tobacco Shops at Macau International Airport.

Tech Mahindra

Tech Mahindra Limited have, through its material subsidiary Tech Mahindra (Americas) Inc., entered into a Collaboration Deed with NEOM Tech and Digital Company (TONOMUS), pursuant to which Tech Mahindra will incorporate a wholly owned subsidiary (JVCo) to provide technology and digital services that support the cognitive foundation of cities and communities. JVCo, a wholly owned subsidiary of Tech Mahindra, will offer TONOMUS and other NEOM group firms services pertaining to cognitive cities and enterprises in the Kingdom of Saudi Arabia.

GAIL

GAIL (India) Limited has won SAP ACE Award-2023 for the Best Financial Transformation for the implementation of Vendor Invoice Management Systems. Along with other authorities engaged in the system's implementation, the award was accepted by Shri R. K. Jain, Director of Finance, and Shri Sashi Menon, Executive Director of Finance and Administration. Under the Vendor Invoice Management System initiative, GAIL implemented Vendor Invoice Management of SAP, established centralized Shared Service Center -"SARATHI", Supplier Portal -"SP ARSH" and for vendor query resolution CHA TBOT -"ASHA".