Stocks To Watch Today: Adani Green, Tata Steel, PVR, Ashok Leyland & More

Here are the top stocks of today that are likely to be in the spotlight and showcase price action on Friday.

Adani Green

According to a regulatory filing, the company on September 07, 2023, appointed Mrs. Neera Saggi and Dr. Anup Shah as additional directors (Non-Executive, Independent) of the company, for an initial term of 3 years i.e. upto September 6, 2026, subject to approval of the shareholders to be obtained within three months hereof.

Ashok Leyland

On Thursday, Ashok Leyland celebrated its 75th year in operation, emphasising its unwavering dedication to the progress and advancement of the country. On this occasion, Switch Mobility's revolutionary IeV Series of Electric Light Commercial Vehicles were revealed by Shri Nitin Gadkari, Minister of Road Transport and Highways for the Government of India. The 9-meter Hydrogen Fuel-Cell Electric Bus designed by Ashok Leyland for NTPC (National Thermal Power Corporation) was also on display. Additionally, the company displayed the nation's first hydrogen internal combustion engine truck, which was previously introduced in partnership with Reliance Industries.

Hitachi Energy

One of the top independent power producers in the nation, Ayana Renewable Power, has signed an agreement with Hitachi Energy India Limited to supply a grid connection solution for its upcoming 300 megawatt (MW) solar photovoltaic power facility in Bikaner, Rajasthan. In March 2024, the project is expected to be put into operation.

PVR INOX

On Thursday, PVR INOX announced the launch of a screen at New Delhi's legendary Paras Cinema. With its debut, Delhi gains its fifth IMAX cinema and India gains its second standalone IMAX theatre with IMAX® with Laser technology. With the launch of this new theatre, PVR INOX's footprint in New Delhi will increase to a total of 27 theatres with 108 screens, solidifying its position in North India with a total of 457 screens in 103 spots. With this introduction, PVR INOX, which has 1704 screens spread over 360 venues in 114 cities (India and Sri Lanka), has the largest multiplex network.

Nazara Technologies

On Thursday, Nazara Technologies Limited said that its board has approved issuing equity shares with a face value of 4 rupees each in order to raise up to 410 crores of rupees on a preferential basis, subject to the company's shareholders' approval. The company intends to provide SBI Mutual Fund a total of 57,42,296 equity shares through a preferential issuance on a private placement basis for a total of INR 4,099,999,344 (Rs. 714 per equity share). The funds will be invested in SBI Mutual Fund's SBI Multicap Fund, SBI Magnum Global Fund, and SBI Technology Opportunities Fund, three different mutual fund schemes. The aforementioned Issue is being made in addition to the issuance of up to 14,00,560 fully paid-up Equity Shares that the Board authorised at its meeting on September 4, 2023. Together, the two transactions total a maximum of Rs. 510 crores, which includes the Issue and the preferential issue that the Board authorised on September 4, 2023.

Crompton Greaves Consumer Electricals

Under the esteemed PM Kusum Scheme, Crompton Greaves Consumer Electricals Limited has won a significant work order for solar pumps for the state of Haryana. The New & Renewable Energy Department Haryana and HAREDA have awarded the company the first work order for the delivery, installation, and commissioning of 7.5 HP and 10 HP Solar Submersible Water Pumping Systems. This accomplishment is a component of a larger project that the Solar Energy Corporation of India and the Ministry of New & Renewable Energy are leading to replace and install new connections for 6.6 lakh pumps throughout India. In the next two years, the company aims to deploy a sizable number of solar pumps under the PM Kusum Scheme.

Exide Industries

On Thursday the company invested Rs. 100 Cr- by way of subscription in the equity share capital of its wholly owned subsidiary, "Exide Energy Solutions Limited" on rights basis. Exide Industries reported in a regulatory filing that it acquired 3,22,58,065 equity shares worth Rs 10 each for a total of Rs 100,00,00,015 by paying a premium of Rs 21 per share.

Samvardhana Motherson

On Thursday, Motherson's facility in the Emirate of Ras Al Khaimah (UAE) was officially inaugurated by Sheikh Saud bin Saqr Al Qasimi, a member of the UAE Supreme Council and the ruler of Ras Al Khaimah. The building is situated in RAKEZ, the Ras Al Khaimah Economic Zone. "Specialising in manufacturing wiring harnesses for commercial vehicles and other special purpose vehicles, the facility also exports them to its customers in Europe. With a built-up area of over 11,000 m2 , the facility employs around 500 people and is built with an initial investment of about Euro 10 million. H.H. Sheikh Saud also toured the facility and was briefed on its advanced manufacturing technologies," said the company in a stock exchange filing.

Power Mech Projects

The company has received orders worth Rs.625.21Crores from for operation and maintenance of 2x 91.2 MW including control room operation of CPP (Captive Power Plant) at Dariba, Udaipur, Rajasthan worth Rs.229.20 from Hindustan Zinc Limited. The order also comprises erection, testing and commissioning assistance of Boiler, Turbine, Generator for its project site for 2x600 MW Power Plant at Village Singhitarai, Chattisgarh (erstwhile known as Athena Chattisgarh Power Limited) (ACPL) from Vedanta Limited for RS.396.01Crores.

Tata Steel

AVAADA Group and the steelmaker's subsidiary Tata Steel Special Economic Zone have partnered to build a green hydrogen and ammonia manufacturing facility in Odisha.