Stocks in focus: Tata Motors, NDTV, HPCL, Siemens India and more

The SGX Nifty suggests that the Indian benchmark indices BSE Sensex and NSE Nifty 50 are off to a good start. On Monday, keep an eye on Tata Motors, NDTV, and Quess Corp.

Indian benchmark indices are expected to open in the green, according to the SGX Nifty on Monday. On the Singapore Exchange, Nifty futures were trading marginally higher at 17886. The BSE Sensex fell 981 points to 59,845, while the NSE Nifty 50 fell 321 points to 17,807.

Tata Motors: TML CV Mobility Solutions, a subsidiary of Tata Motors, has signed a contract with the Delhi Transport Corporation (DTC) to operate 1,500 electric buses in New Delhi. TML will supply, operate, and maintain 1,500 12-metre, low-floor, air-conditioned electric buses over a 12-year period.

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NDTV: Gautam Adani will own 64.71% of NDTV after founders Prannoy Roy and Radhika Roy agreed to sell 27.26% of the company to the billionaire. Adani already owns more than 37% of NDTV through RRPR Holding and Vishvapradhan Commercial, as well as an open offer. Adani purchased RRPR Holding, a firm owned by the founders. Following this transaction, the founders will own 5% of NDTV.

Shriram Finance: Shriram Finance has declared a 150% interim dividend, or Rs 15 per equity share with a face value of Rs 10 each, fully paid up. The dividend for Fiscal Year 2022-23 has been declared. According to the regulatory filing, the record date for the payment of the interim dividend is January 4, 2023. The interim dividend will be paid to eligible shareholders on or after January 18, 2023.

Hindustan Petroleum Corporation (HPCL): The OMC is thinking about selling a portion of its equity stake in HPCL Shampooer Pvt Ltd. (HSEPL), a joint venture between HPCL and Shampooer Palliation. Sources in both HSEPL and Gujarat’s ports and transport department confirmed to FE that the PSE is considering selling up to 50% of its stake to suitable buyers.

Alkem Laboratories: Eight Roads Ventures India Healthcare IV LP and F-Prime Capital Partners Life Sciences Fund VI LP will acquire an 8% stake in Alkem subsidiary Enzene Biosciences for Rs 161.48 crore. The transaction is expected to be completed in January 2023. The funds will be used to expand capacity in India and the United States.

Siemens India: Siemens India has won a contract with the Indian Railways to manufacture and maintain electric freight locomotives. The contract is for 11 years and includes the production of 1200 high-horsepower electric locomotives as well as their maintenance for 35 years at the Dahod railway factory. The contract is expected to cost around Rs 26000 crores. Both parties are expected to sign the contract within the next 30 days.

SJVN: The company has expanded its footprint in wind energy by winning the full capacity of the 100 MW wind power project through an e-reverse auction at Rs 2.90 per unit on a build-own-and-operate basis.

Quess Corp.:  Quess Corp. has announced that, due to the changing market conditions, the board of directors has decided to withdraw the proposal to merge Allsec Technologies with the company. The board of directors has appointed Kamal Pal Hoda as the company’s Group CFO, effective January 10, 2023, in place of N Ravi Vishwanath.