Stocks To Watch: Zomato, IOB, PVR INOX, Yes Bank, SRF, SBI & More

Popular companies like SBI, Zomato, Yes Bank, SJVN, and Aster DM Healthcare are among the top 10 stocks that market observers are likely to be keeping an eye on on Monday, January 1, 2024.

Jubilant Ingrevia

At its manufacturing site in Bharuch, Gujarat, Jubilant Ingrevia Limited announced the commissioning of its cutting-edge multifunctional agro intermediate plant, which would generate derivatives with added value. The plant intends to meet the increasing global demand for agricultural intermediates and is capable of producing a wide range of agro intermediates for the world's supply of various agroactives.

The company's completely backward integrated pyridine capacity, which gives it a leading position globally, has allowed it to use captive raw materials to build value-added products that are cost-competitive. The company currently synthesises a number of agro intermediates at its Bharuch, Gujarat, facility, and this new factory will aid in furthering its market share in the agrochemicals industry.

Torrent Power

The company has incorporated a wholly-owned subsidiary namely "Torrent PSH 4 Private Limited" at a cash consideration of Rs 1 lakh with an aim to carry on the business of generation, transmission, distribution, purchase, procurement, sale, trading, import, export, storage of power or otherwise deal in all forms of conventional, nonconventional, renewable, green, hydro power, or any other sources of energy or Power including electrical power and energy and pumped storage, battery storage or any other combination of storage technologies in all aspects, as per a stock exchange filing.

SRF

The proposal to increase the capacity of fluorocarbon refrigerant gas, with backward integration into a vital raw material at Dahej, was approved by the company's board on 28 July 2021. This notice serves as notice that the Fluorocarbon Refrigerant Gas Capacity expansion project (HFC), which has a total cost of Rs. 317 Crores, was capitalised and put into service on December 30, 2023.

Aster DM Healthcare

DM Medcity entered into a Business Transfer Agreement (BTA) on December 29, 2023 with Aster Shared Services Centre Private Limited (ASSCPL), a wholly owned subsidiary of Aster DM Healthcare FZC, a material subsidiary of the company for sale/transfer of the multiple business of the DM Medcity as a going concern for a lump sum indicative consideration of Rs 3.8 crores to Rs 5.25 Crores. The business includes shared service center units in AGC, Bangalore, Corporate Head Quarters - India Unit, Bangalore and Aster Digital Health (ADH), Bangalore.

SBI

Stock exchanges were notified by SBI that, on December 31, 2023, at the closure of business hours, Shri Prakash Chandra Kandpal, Deputy Managing Director (Retail-P & RE), will be retiring from the bank.

Indian Overseas Bank (IOB)

On December 31, 2023, which is their superannuation date, General Managers Shubhendu Kumar Verma and Shiv Kumar Gupta will resign from their positions. With effect from January 1, 2024, Shri S P Mahesh Kumar, General Manager & CFO, has been assigned additional responsibility for the departments previously held by Shri Shubhendu Kumar Verma. With effect from January 1, 2024, Shri Shyam Sunder Narang, General Manager, has been assigned additional responsibility for the Bank's Marketing Department. With effect from January 1, 2024, Deputy General Manager Shri Hari Raman has been assigned additional responsibility for the Bank's KYC/AML Departments.

Yes Bank

A single trust in the security receipts portfolio has given the private sector lender Rs 150 crore in relation to the sale of the NPA portfolio to JC Flowers ARC on December 17, 2022.

PVR INOX

The largest and most upscale movie theater operator in India, PVR INOX, has announced the opening of the largest theater in Jodhpur, Rajasthan. For Jodhpur's movie enthusiasts, the brand-new 4-screen multiplex at Indiabulls Mega Mall promises to completely change the city's entertainment scene. With 75 screens spread over 20 locations, PVR INOX will bolster its position in Rajasthan and keep growing in West India, where it already has 341 screens spread across 76 properties.

Zomato

The company has received three orders from the Deputy Commissioner, DGSTO-4, Bengaluru, Karnataka, and the Sales Tax Officer, Ward 300, Delhi, saying that there was a shortfall in the payment of GST, together with interest and penalties that amounted to INR 4,24,12,179. These orders pertain to the financial year 2018. The statutory end dates for issuing orders pertaining to financial year 2018 under Section 73 is December 31, 2023, as per a stock exchange filing.

SJVN

SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN Limited, successfully completed the commissioning and COD of its 75 MW Gurhah Solar Power Project, situated in the Uttar Pradesh district of Jalaun. This 75 MW solar power project was awarded to SJVN Green Energy Limited through competitive tariff bidding, which was held by the Uttar Pradesh New & Renewable Development Agency (UPNEDA), at a price of Rs. 2.98 per unit.

A 25-year Power Purchase Agreement has been inked for the same with Uttar Pradesh Power Corporation Limited (UPPCL). The project has incurred construction and development costs of Rs 408.42 crores. The project's first-year energy output is expected to be 159.77 million units (MU), and its anticipated cumulative energy generation over a 25-year period would be 3716 million units (MU). Additionally, this would generate revenue of about Rs. 48 crores annually. The Gurhah Solar Power Project's commissioning has increased SJVN's total installed capacity to 2227 MW.