Stocks To Watch Today: TCS, RIL, ICICI Bank, Tata Steel, Tata Power & More

After the Nifty crossed the 20k mark on Monday, here are the top 10 stocks that are likely to be in focus today Tuesday, 12th September.

Hindalco Industries

Novelis Inc., a top supplier of sustainable aluminium solutions, declared that Ball Corporation, a manufacturer of aluminium cans in North America, became the new anchor client it inked a new deal with at the beginning of 2023. As per the agreement, Novelis will provide aluminium sheets to North American Ball can manufacturing facilities. Novelis has secured all of the beverage can production capacity from its new Bay Minette, Ala factory through this deal and other agreements. The new facility will have an initial capacity of 600,000 tonnes of finished goods and will be primarily used for the North American beverage can and automotive sectors. It is anticipated to start commissioning in 2025.

Lupin

Lupin Limited aims to enter into a business transfer agreement with Lupin Manufacturing Solutions Limited ('LMSL'), a wholly-owned subsidiary of the Company, to carve out two Active Pharmaceutical Ingredients ('API') manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune, as approved by the Board of Directors at its meeting held on September 11, 2023.

Reliance Industries

A subsidiary of Reliance Industries Limited, Reliance Retail Ventures Limited ("RRVL") stated that international investment company KKR will invest Rs 2,069.50 crore into RRVL through an affiliate. With a pre-money equity value of Rs 8.361 lakh crore, this investment places RRVL among the top four corporations in the nation. On a fully diluted basis, KKR's follow-on investment will result in an additional equity holding of 0.25% in RRVL. This would increase its total equity share in RRVL to 1.42% on a fully diluted basis when combined with its stake from its investment of Rs 5,550 crore in RRVL in 2020. The last round of funding by RRVL in 2020 included contributions from several international investors totaling Rs 47,265 crore at a pre-money equity valuation of Rs 4.21 lakh crore. The majority of KKR's investment comes from its Asian Fund IV. The deal is dependent on receiving all necessary regulatory and other clearances. Morgan Stanley acted as financial advisor to Reliance Retail Ventures Limited and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels, according to a regulatory filing.

Laurus Labs

For the purchase of 37,641 equity shares for Rs 71.60 Cr through secondary purchase, the company has inked Share Purchase Agreements with a few employees/ex-employee shareholders of Laurus Bio Pvt. Ltd. as well as one of the promoters and a non-executive director and his family. With this transaction, the Company would own 87.58% shareholding in Laurus Bio Pvt. Ltd. (including outstanding share warrants and ESOP Pool) on a fully diluted basis.

Gravita India

The Directorate General of Foreign Trade, Ministry of Commerce & Industry, Government of India has upgraded the status of Gravita India Limited from "Three Star Export House" to "Four Star Export House" and congratulated with a certificate of recognition being issued by Government of India based on excellent performance in international trade and successfully achieving desired amount of export performance. "This recognition will help company in ease of doing businesses, easier facilitation of various export licensing norms, relaxation of business norms being issued by Government, various export related benefits and self-recognition among category of export Houses," according to a regulatory filing.

A reputable recycling company with a presence all over the world is Gravita Group. The Group has a 2,84,059 MTPA recycling capacity distributed among 11 eco-conscious, cutting-edge recycling plants with 5 business verticals.

ICICI Bank

Sandeep Bakshi will continue in his position as ICICI Bank MD and CEO till October 3, 2026, thanks to Reserve Bank of India approval of his reappointment.

TVS Supply Chain

The company said on Monday that it will pay Rs 450 crore to acquire all the equity shares of three wholly-owned subsidiaries i.e. TVS Logistics Investments UK, TVS Logistics Investments Inc USA, and TVS Supply Chain Solutions Pte Ltd, Singapore The projected deadline for finishing the investment in foreign subsidiaries is November 30, 2023.

Tata Steel

According to a corporate filing with the stock exchange, TV Narendran's nomination as the Global Managing Director and Chief Executive Officer (CEO) for the upcoming five years received shareholder approval on Monday.

Tata Power

The US International Development Finance Corporation has authorised financial assistance to Tata Power Renewable Energy Ltd. in the amount of up to USD 425 million (about Rs 3,521 crore) for the establishment of a 4.3 GW solar cell in Tamil Nadu by its subsidiary. "The plant's first module production is expected by the year end and the first cell production is expected in the first quarter of FY24," said the company in a regulatory filing.

TCS

Through its Living Heart Project, which brings together an ecosystem of cardiovascular researchers, educators, medical device developers, regulatory agencies including the US FDA, and practising cardiologists, Tata Consultancy Services (TCS) and Dassault Systems have partnered. The project's goal is to create and validate precise digital simulations of the human heart. The project will produce revolutionary medical solutions, such as the use of digital evidence derived from cardiac simulation for the approval of novel cardiovascular devices. Included in this is an in-silico clinical study, which might supplement the data obtained from clinical subjects while obviating the necessity for animal testing and human subject enrollment. As an industry partner, TCS will leverage its domain and technological know-how, as well as its research on the Digital BioTwin of the Heart, to help build and validate highly accurate, individualised digital human heart models through model refinement, simulation, and technological implementation.