Top 10 Stocks To Watch Today: Zomato, L&T, TCS, NBCC & More

On Tuesday's trading session i.e. 29th August, here are the stocks that are likely to be in focus today.

Gokaldas Exports

Gokaldas Exports Limited (GEL), a leading garment manufacturer with a strong market position and relationships with customers throughout the U.S. and Europe, has signed an agreement to acquire Atraco Group (Atraco) through its wholly-owned subsidiaries. The deal will have an equity value of US$55 million, which will be financed by an arrangement of internal accruals and debt. The acquisition of shares and assets will be a part of the deal, which will be subject to customary regulatory approvals. By Q3 FY24 (Oct. - Dec. 23), the deal is anticipated to be finalised.

Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Export Limited said, "We are very excited to welcome Atraco's admirable leadership team, their employees and their global customers to GEL. We have always believed in conƟnuously adding producƟon capacity at strategic locaƟons enhancing our value proposiƟon to customers. The acquisiƟon of Atraco is an important step in this direcƟon as it is strategically relevant, possesses a good complementary customer base, operaƟonally strong, and above all, a leader in its own sphere. With this acquisiƟon, we will gain access to low-cost dutyfree locaƟons for manufacturing. Together, we can deliver a wider choice and value proposiƟon to our global customers. We look forward to welcoming over 13,000 new members into the GEL family."

GRM Overseas

Regarding the order issued by the Indian government imposing a USD 1200 minimum export price per MT of basmati rice and the establishment of a committee to evaluate exports below this limit, GRM Overseas said on Monday that it anticipates no adverse impact on exports as the company primarily exports premium rice. "However, there are some varieties of Basmati rice that may fall below this threshold, in line with government's guidance, we expect companies to be allowed to export such products subject to evaluation by the committee to be established," said the company in a stock exchange filing.

SJVN

Three solar power projects with a total capacity of 320 MW have been awarded by Assam Power Development Corporation Limited (APDCL) to SJVN Green Energy Limited (SGEL), a fully owned subsidiary of the company. In APDCL's three distinct tariff-based competitive bidding bids, for 50 MW, 70 MW, and 200 MW, SGEL had taken part. The 200 MW project is to be constructed anywhere in Assam and has been allocated at a rate of INR 3.90/Unit. The 50 MW and 70 MW projects fall under the solar park category and have been granted at a tariff of INR 3.92/Unit. The commissioning of these Projects is anticipated to result in a 7.14 lakh tonne reduction in carbon emissions, helping the Government of India achieve its goal of lowering emissions.

"These three Solar power projects shall be developed on Build Own and Operate (BOO) basis. The projects are expected to generate cumulative 628 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 14591 MUs. As per RfS the Projects shall be commissioned in a period of 18 Months from the date of signing of PPA and expected to be commissioned by March 2025. The PPA shall be signed between APDCL and SGEL for 25 years. Tentative cost of Construction / Development of these 320 MW projects is around INR 1900 Crores," said SJVN in a stock exchange filing.

NBCC

The company has received an order from Indian Medical Association worth Rs 66.32 Cr for the planning, designing and execution of IMA House at Indraprastha, IP estate, New Delhi, 110002. The nature of the order is project management consultancy on a deposit work basis and the time period granted is 30 Months.

LTIMindtree

LTIMindtree and CAST AI have announced a strategic partnership. As they update older applications for cloud migration, the partnership will assist companies in saving, on average, over 60% on cloud costs. Through this partnership, companies will get a holistic perspective of their cloud portfolio thanks to the integration of the Infinity platform from LTIMindtree and the cloud cost optimisation platform from CAST AI.

"We're thrilled to partner with LTIMindtree, a world leader in helping organizations navigate the digital transformation journey," said Yuri Frayman, CEO and Co-founder, CAST AI. "Our speciality at CAST AI revolves around cloud cost optimization. Google Cloud Platform alone has some hundreds of virtual machines on offer. The manual effort of configuring resources, picking virtual machines, and setting auto-scaling policies is overwhelming. And frankly, it costs more than its optimization impact. We automate the entire process, reducing your cloud costs in real-time."

"This partnership with CAST AI has enabled us to offer discrete services to our customers aligned with their business goals and objectives. Through this collaboration, we are assisting our customers in deriving value from their cloud investments through enhanced end-to-end observability & cost optimization, along with freeing up their budget for modernization," said Nachiket Deshpande, WholeTime Director, and Chief Operating Officer, LTIMindtree.

Captain Pipes

A major participant in the PVC pipe market, Captain Pipes Ltd., announced that it received its highest monthly export order ever in August, totaling USD 360,000. Within the following three years, the company aims to boost its export revenue share from 12% of total sales in FY23 to 20%.

"As a growing player in the PVC pipe industry, Captain Pipes Ltd. has accomplished yet another significant milestone. With immense pride, we confirm the reception of our largest monthly export order to date, with a substantial value of USD 360,000. Our dedication to excellence, innovation, and customer satisfaction is exemplified by this accomplishment. It is our commitment to provide high-quality products adhering to industry standards as we continue to expand our global footprint. Our strategic aim is to elevate the share of export revenue within our total revenue from its current 12% in FY23 to 20% over the course of the next three years. This endeavor showcases our confidence in the demand for Captain Pipes' superior products on the international stage," said the management.

TCS

In the Everest Group's Peak Matrix® for Identity and Access Management Services (IAM), Tata Consultancy Services has been recognised as a Leader. According to the research, TCS' ongoing investments in identity data aggregation and analytics, as well as its expertise with CIAM engagements, could assist companies secure their digital identity ecosystem.

"Enterprises are expanding their digital footprint with cloud-based solutions and hyperconnected critical infrastructure while weaknesses in the human element of security are exponentially rising. IAM will thus play an increasingly significant role in ensuring cyber confidence in enterprise boundaries, controls, and cyber risk management readiness.

Our holistic approach, innovative solutions and accelerators have successfully delivered IAM adoption, modernization, and transformation - using the best technology products, our processes, accelerators, and automation - for many of our clients, maximizing their investments," said Santha Subramoni, Head, Cybersecurity Practice, TCS. "This Leadership position is a testament to our vision, strategy and market success of our comprehensive digital identity management solutions that help our customers ensure digital trust and grow their businesses."

"TCS has made significant investments in developing intellectual properties centered on identity-led zero trust services, responding to growing market demand. In addition, TCS emphasizes the critical role of hyperautomation in IAM implementation scenarios including areas such as bulk onboarding of applications/systems into IGA/PAM/WAM, streamlining IAM business processes, swift automated responses in ITDR, and advanced identity analytics. These combined strengths have earned TCS the position as a Leader in the Everest Group's IAM Services PEAK Matrix® Assessment for 2023," said Kumar Avijit, Practice Director, Everest Group.

Schaeffler India

The Board of Directors of the company held on Monday has approved the acquisition of 100% shareholding of KRSV Innovative Auto Solutions Private Limited ("Koovers"). Accordingly, the company has entered into a Share Purchase Agreement for acquisition of 100% shareholding of KRSV Innovative Auto Solutions Private Limited at a cost of INR 1,423.98 Mn.

Zomato

By selling all of its shares in the food delivery service for a sum of Rs 1,123.85 crore, Tiger Global announced its divestment of its residual shares in Zomato. Tiger Global divested Zomato by selling over 12.35 crore of its shares, generating a transaction value of Rs. 1,124 crore at an average share price of Rs. 91.01.

L&T

The record date for the Rs 10,000 crore share buyback has been fixed as September 12 by Larsen & Toubro Ltd. 3.33 Cr shares with a face value of 2 rupees each for a total value of Rs 10,000 crore is a part of buyback plan of the company. The maximum price for the share buy back, which will be accomplished through a tender offer, has been set at Rs 3,000.