Top 10 Stocks To Watch Today: RIL, L&T, TVS Motor, BHEL & More

Here are the top 10 stocks that are likely to be in focus today on 24th August.

Reliance Industries

In a report to the stock exchange on Wednesday, Reliance Industries Limited (RIL) said that the Qatar Investment Authority (QIA) will make investments of Rs 8,278 crore through a wholly-owned subsidiary in its retail arm, Reliance Retail Ventures Limited (RRVL). A 0.99% minority stake in RRVL will emerge from QIA's investment.

Ms Isha Mukesh Ambani, Director, Reliance Retail Ventures Limited, said, "We are delighted to welcome QIA as an investor in Reliance Retail Ventures Limited. We look forward to benefiting from QIA's global experience and strong track record of value creation as we further develop Reliance Retail Ventures Limited into a world class institution, driving transformation of the Indian retail sector. The investment by QIA is a strong endorsement of a positive outlook towards Indian economy and Reliance's retail business model, strategy and execution capabilities."

Mansoor Ebrahim Al-Mahmoud, CEO, QIA, said, "QIA is committed to supporting innovative companies with high-growth potential in India's fast growing retail market. We are looking forward to Reliance Retail Ventures Limited, with its strong vision and impressive growth trajectory, joining our growing and diverse portfolio of investments in India."

L&T

New orders have been achieved in the Middle East by Larsen & Toubro's Power Transmission & Distribution Business. An established service provider to the energy sector has sent the company a request to build a 220kV Gas Insulated Substation and related Transmission Lines in the United Arab Emirates. A public services infrastructure business in Dubai has also given orders to build two new 132kV substations, and a 220kV overhead transmission line has also been ordered for the area.
The turnkey construction of 4 additional 132kV substations in Kuwait's Al Sabah medical district has been ordered. The subject matter also covers related Civil & Mechanical works as well as accompanying Control, Protection, Automation, and Communication systems. There have been further orders placed for the ongoing projects in Qatar and Saudi Arabia.

TVS Motor

On Wednesday, TVS Motor Company launched its revolutionary premium electric crossover, TVS X and set new global benchmarks in the EV industry.

Speaking at the launch, Mr. Sudarshan Venu, Managing Director, TVS Motor Company said, "Our dedication to harness technology and innovation towards a greener and more sustainable future has brought to us this incredibly desirable machine. This launch marks a defining moment in TVS Motors' journey of showcasing a made-in-India EV, the TVS X. It has been designed for the global citizens, who are trendsetters and visionaries with a passion for technology. It is set to inspire a shift towards premium yet sustainable and technologically advancedmobility solutions. Itleadsthe way to become a global benchmark for a machine that is born electric. The TVS X embodies innovation with a disruptive mindset. It has sustainability at its core and embodies the next era of clean mobility. With its remarkable performance, premium aesthetics, and integrated, intuitive, and personalised experiences, we believe it will redefine mobility worldwide."

Bandhan Bank

On Wednesday, Bandhan Bank celebrated its eighth anniversary and marked eight years of its incredible journey by opening a branch in Leh district, Union Territory of Ladakh. The Bank also opened another branch in Srinagar, J&K. Mr. Keki Mistry, Director, HDFC Bank said, "I am happy to be a part of Bandhan Bank's Foundation Day and privileged to deliver the Anniversary Lecture. Having seen the journey of Bandhan Bank from close quarters, I know their steadfast commitment to purpose-driven banking, reaching the right audiences, and the intent to catalyse meaningful change in the lives of their customers. I wish the best for the future."

Chandra Shekhar Ghosh, Founder, MD and CEO, Bandhan Bank, said, "It has been a great ride in these eight years of Bandhan Bank. With the opening of our Leh branch, we have established our presence in another union territory and enhanced our presence. We will continue to expand our footprint to reach a wider population across the country. I want to thank all our stakeholders and well-wishers for their trust and support; for being a part of this incredible journey and for believing in us."

With the opening of the new branches in Leh and Srinagar, Bandhan Bank is now operational in 35 of the country's 36 states and UTs, providing banking services to more than 3 crore people through a robust network of more than 6100 branches.

NHPC

In order to build pumped-storage hydroelectric projects and renewable energy projects in Andhra Pradesh, the company said on Wednesday that it has signed a Memorandum of Understanding with Andhra Pradesh Power Generation Corporation Ltd.

Trent

On Wednesday, Westside celebrated 25 years of its revolutionary journey in fashion, lifestyle and home decor. Beginning with its initial Camac Street shop in Kolkata and expanding to include a variety of sub-brands such Utsa, Bombay Paisley, Zuba, Vark, NUON, L.O.V., Wardrobe, Gia, WES, NOUN Men, E.T.A, Studiowest, Westside kid's clothing, Westside footwear, and home goods, Westside now has 225 stores in 2023.

Mrs. Shailina Parti, COO at Trent Ltd said, "The growth trajectory of Westside over the years has been a testament to its continuous evolution and adaptability. As we celebrated 25 years of this iconic brand, we reflected on its journey and looked forward to the exciting possibilities that lie ahead."

Mr. Umashan Naidoo, the Head of Customer & Beauty at Westside said, "At Westside, our passion extends beyond fashion; it's about fostering a vibrant community and nurturing safe havens for meaningful engagements. We are proud in being an Indian lifestyle brand that bridges the gap between style and accessibility in modern India. As we embrace the spirit of growth and evolution, we pay homage to our visionary leaders, Ms. Simone Tata and Mr. Noel Tata, who have charted our course with quintessential Tata values."

"Our outlook is one of optimism, curiosity, and unbridled passion. We carry within us the unwavering confidence of those who celebrate their heritage while embracing the contemporary. Gone are the days when retail was a mere transaction-it's now an immersive experience, a source of surprise and delight. We cherish the trust placed in us for matters of style, and our constant commitment to unveiling fresh products and weekly launches at the right price exemplifies our dedication to this trust," said Umashan Naidoo.

"In the world of retail, joy is found in the interplay of agility, relevance, and style. We welcome you to explore Westside, where every visit promises not just a shopping journey, but a delightful experience that resonates with the heartbeat of modern India," Umashan Naidoo further added.

BHEL

On Wednesday, BHEL produced the first batch of SCR (Selective Catalyst Reactor) catalysts for reducing NOx emissions from thermal power plants. Notably, these catalysts were previously imported, and thus marks a big accomplishment for the government of India's "Make in India" campaign. To address NOx reduction in thermal power plants, BHEL established a cutting-edge SCR catalyst production facility at its SBD unit. Recognising the detrimental long-term effects of NOx and taking into account the Ministry of Environment and Forest's notification, TSGENCO ordered for SCRs for 5x800 MW Yadadri TPS, MAHAGENCO for 1x660 MW Bhusawal TPS, WBPDCL for 1x660 MW Sagardighi TPS and NALCO for 1x18.5 MW Damanjodi TPS.

Shriram Properties

Through SPL's wholly owned subsidiary, Shrivision Elevations Private Limited, Shriram Properties Limited and ASK Property Fund have announced an aggregate investment of Rs. 206 crores towards 100% of the development rights in an ongoing project in Chennai. The project has a five-year revenue potential of Rs. 1,200 crores and a total saleable area of 1.9 million square feet across two phases. The project consists of 1,900 residential units and mostly caters to the middle class. The acquisition would be funded by a combined investment of Rs. 206 crores from Shriram and ASK, while the project's working capital requirements will be covered separately. The ASK Real Estate Special Opportunities Fund IV is where the aforementioned investment is coming from.

Star Housing Finance

Star Housing Finance Limited (Star HFL) declared that State Bank of India has granted it the largest-ever term loan approval of Rs. 50 crore. The funds will be used for future lending in its service areas to make it possible for potential homebuyers from the EWS/LIG (Economically Weaker Section/Low Income Group) to get credit. Through its branch offices and Points of Presence, the credit line will be made available and used for retail lending in its operational regions.

KPR Mill

The firm said on Wednesday that the largest fund house in the world, "FIDELITY," a U.S.-based corporation, invested by purchasing more than 1% of the equity shares of KPR Mill Limited over the previous week.