Top 10 Stocks To Watch Today: Tata Power, Bharti Airtel, BHEL, Paytm, Oil India & More

Here are the 10 best shares that are likely to be in focus on Tuesday, 5th September.

Hero MotoCorp

The Board of Directors of the company at its meeting held on September 4, 2023 has approved an investment of up to INR 550 crore in the rights issue of Ather Energy Private Limited. Hero MotoCorp Ltd. is subscribing to the Ather rights issue; this is not an acquisition. The company already owns a stake in Ather. Prior to the proposed investment, HMCL owned 33.1% of Ather's fully paid-up share capital.

Cipla

Cipla South Africa, a 100% owned subsidiary of Cipla Limited has signed a legal deal with Actor Holdings (Pty) Limited to acquire 100% of the issued ordinary shares of Actor Pharma (Pty) Limited. Cipla South Africa made this strategic purchase to take advantage of cost synergies in the South African market and to open up new business potential. In the upcoming three to four months, the deal is anticipated to conclude.

Paul Miller, CEO, Cipla South Africa said, "This is a unique opportunity that helps to build Cipla's OTC portfolio, providing the business with a more balanced revenue contribution between the prescription and over-the-counter business and continue to provide additional quality medicines for consumers".

Lynton Lomas, shareholder of Actor said, "We are delighted to transact with a company of Cipla's stature. With the focussed approach of their commercial team, we are excited to see Actor grow from strength to strength in future".

Tata Power

Tata Power Renewable Energy Limited (TPREL), a leading renewable energy company of India, a subsidiary of Tata Power has signed a Power Delivery Agreement (PDA) with Neosym Industry Limited (Neosym), a leading Gray & S.G. Iron casting, manufacturing company in India, for 26 MW AC Group Captive Solar plant, according to a stock exchange filing. The project, which will begin operations in March 2024 and be located in Jamkhed, Ahmednagar in Maharashtra, is expected to have an annual electricity generating capacity of 59 million units. An annual reduction in CO2 emissions of about 32,500 tonnes is anticipated from the facility.

Mr. Ashish Khanna, CEO, Tata Power Renewable Energy Limited, said, "This partnership with Neosym marks a significant milestone in our relentless pursuit of providing clean and sustainable energy solutions to our C&I consumers. The Jamkhed project is a step towards enhancing renewable energy capacity and reducing carbon emissions in the country."

Mr. Vinay Mohta GM Commercial, Neosym Industry Ltd, stated, "Our partnership with Tata Power Renewable Energy Limited indicates a ground-breaking association in our unwavering journey towards clean and sustainable energy solutions. Our project serves as an authentication of our dedication to diminish our carbon footprint and actively contribute to India's green energy revolution."

IEX

The largest energy exchange in India, Indian Energy Exchange, recorded a total electricity volume of 8,469 MU in August 2023, an increase of 21% on a YoY basis. The overall volume traded on the IEX reached 8,865 MU, which included 242.3 MU of green market trading, 40 MU of auxiliary market transaction, 2.53 Lac RECs (equal to 253 MU), and 1.03 Lac ESCerts (equivalent to 103 MU). On a YoY basis, the total volume of trades during the month grew to 13.3%.

BHEL

For the Electro-Mechanical (E&M) works of the 2,880 MW Dibang Multipurpose Project in Arunachal Pradesh, the nation's largest hydropower project by capacity, Bharat Heavy Electricals Limited (BHEL) has received an order. NHPC has given the company the go-ahead for the 12x240 MW project at Roing, in the Lower Dibang Valley area of Arunachal Pradesh. The project's major equipment will be produced by BHEL's facilities in Bhopal, Bengaluru, Jhansi, and Rudrapur, while the company's Power Sector - Eastern Region division in Kolkata will handle the on-site execution activities.

Paytm

The debut of Card Soundbox, India's first Soundbox that supports card payments, has been announced by One97 Communications Limited (OCL), the parent company of Paytm, India's largest provider of banking and payment services and the pioneer of QR and mobile payments. Through the use of its distinctive Soundbox with "tap and pay," the firm enables retailers to take both mobile and card payments across all Visa, Mastercard, American Express, and RuPay networks, enabling merchants to grow their businesses. Through the integrated "tap and pay" feature of Paytm Card Soundbox, companies can process card payments up to Rs 5,000. The Made in India gadget has 4G network access, which offers fastest payment alerts.

Bharti Airtel

For its data center firm, Nxtra, Bharti Airtel stated on Monday that it will purchase 23,000 MWh of renewable energy by the fourth quarter of FY 23-24. Airtel will invest in the renewable energy project companies founded by Continuum Green India Pvt. Ltd. and Vibrant Energy Holdings Pte. Ltd. to power six of Nxtra's Edge data center facilities as part of its goal to lower its carbon footprint. A share in the project firm of Continuum Green, which will deliver green electricity from solar and wind power projects to its Edge data centers in Madhya Pradesh, would be acquired by Airtel as part of the transaction through an open access route. To provide solar energy to its Edge data center in Vijayawada, Airtel has also signed into a similar share acquisition arrangement with the project developer Vibrant Energy.

The total contracted renewable energy capacity for Nxtra data centers will have surpassed 274,000 MWh with the addition of these additional capacities, and it will soon establish itself as the leader in developing green data centers.

SpiceJet

SpiceJet reported today through a statement filed with the BSE that it has decided to award 4.81 crore equity shares to nine of its aircraft legal or beneficial owners on a preferential basis in order to pay off its outstanding Rs 231 crore debts. Additionally, the company has launched a fundraising effort for Rs 2,500 crore and a preferential sale of shares to owners at a price of Rs 48 per share.

InterGlobe Aviation

The board of directors of IndiGo Airlines has authorised the purchase of 10 more Airbus A320 NEO family aircraft. According to the corporate filing, the purchase for 10 additional aircraft brings the total to 300.

Oil India

The corporation announced on Monday that the board approved its up to Rs 1,738 crore equity investment in the joint venture company, the North East Gas Distribution Company (NEGDCL), which it established with the Assam Gas Company. The 49 per cent stake held in NEGDCL by Oil India is in line with this strategic investment.