Stocks to watch: Paytm, Hero MotoCorp, ONGC, Muthoot Finance and more

Since Wabury and Valecha Engineering will be reporting their September quarter profits today, attention will be paid to these equities.

The top 10 stocks that will be the subject of today’s attention are listed below:

One97 Communications: Paytm Payments Services Limited has been invited to resubmit its application to function as a payment aggregator by the Reserve Bank of India (RBI). The onboarding of online merchants by Paytm Payments Services was halted by the banking authority. In order to comply with the RBI’s payment aggregator (PA) guidelines, One97 Communications had proposed to transfer the payment aggregator services business it had been operating to Paytm Payments Services (PPSL) in December 2020. However, the banking regulator had rejected its application.

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Adani Transmission: A member of the Adani Group has applied for a licence to expand its power distribution operations into other parts of Mumbai, including the JNPT container port, the biggest in the nation. Adani Electricity Navi Mumbai (AENM) announced in an advertisement that it and its publicly traded parent company Adani Transmission had applied to the Maharashtra Electricity Regulatory Commission (MERC) for a distribution licence in select areas of the Mumbai Metropolitan Region on Saturday.

Hero MotoCorp: Hero MotoCorp recently disclosed that it would shortly be raising the cost of its motorcycles and scooters. The price increase will take effect on December 1, 2022, and may vary according on the models and markets. According to the company’s announcement, prices will increase by up to ₹1,500. The price of Hero Motorcycles will increase for the fourth time this year. In September of this year, the most recent price hike was disclosed. The cost was then increased by up to ₹1,000.

Coal India: The business announced on Friday that it has produced 400 million tonnes of coal in its fiscal year at the fastest rate ever. To reach its goal of 700 MT in FY23, it anticipates that coal production will rise further in the upcoming months. Coal India produced 342 MT on November 24 of last year and reached record-breaking output of 400 MTs, 31 days earlier than 25 December. The same level of production was reached this year 31 days earlier than it was the previous year.

ONGC: A government-appointed panel looking into gas prices, led by Kirit Parikh, is likely to recommend price caps for natural gas produced from state-owned companies’ legacy fields to help bring down the cost of compressed natural gas (CNG) and piped cooking gas while maintaining the pricing formula for challenging fields. The group may decide to propose two distinct pricing regimes, according to officials. The panel was tasked with providing a “fair price to the end-consumer” while maintaining a “market-oriented, transparent and dependable pricing regime for India’s long-term ambition for securing a gas-based economy.”

TIL Ltd.: On Sunday, the manufacturer of heavy equipment TIL announced that it had decided to increase the business’s authorised capital by bringing in Indocrest Defence Solutions, a subsidiary of Gainwell Group, as a strategic investor. The amount of money that Gainwell Group was going to invest was not mentioned in the statement that TIL shared with stock exchanges.

Muthoot Finance: Muthoot Finance Ltd. has announced its 29th series of secured redeemable non-convertible debentures for the public market (NCDs). Each NCD has a ₹1,000 face value. The issue will release on November 28 and close on December 19. Although the board of directors or NCD committee may choose to do so, there will be the opportunity to close the matter much sooner or later.

Gateway Distriparks: Integrated intermodal logistics provider, Gateway Distriparks By the fiscal year 2025, Gateway Distriparks intends to invest at least ₹500 crore to support its growth objectives, which would include, among other things, expanding the rail vertical. The company’s chairman and managing director Prem Kishan Dass Gupta stated that GDL is looking to add a total of five ICDs by FY25 with the construction of a greenfield inland container depot at Jaipur and the acquisition of an ICD terminal at Kashipur, which is anticipated to be finished in the upcoming months.

L&T Finance: L&T Finance Holdings Limited reported that the sale of its mutual fund division to HSBC Asset Management (India) Private Limited had been completed. According to the definitive paperwork, it has I received about 3,484 crores as consideration for the sale and (ii) additionally realised a surplus cash balance of approximately 764 crores in L&T Investment Management Limited, the asset manager to L&T Mutual Fund (LTIML).

Venus Pipes: On Friday, BNP Paribas Arbitrage purchased 6.5 lakh shares of Venus Pipes & Tubes for a total of ₹42 crore. According to block deal data made accessible by the BSE, BNP Paribas Arbitrage bought 6,50,000 shares, or 3.2% of the firm, in the transaction. The average price paid for the shares was ₹650, making the total transaction value of the deal ₹42.25 crore.