Stocks that will go into action on March 1, 2023

automotive stocks: Stocks of auto majors such as Tata Motors, M&M, Ashok Leyland, Escorts, Bajaj Auto, Eicher Motors, TVS Motors, Hero MotoCorp and others remain in focus as they announce monthly sales figures for February today. Two-wheeler sales are showing weakness with the exception of EVs, according to LKP Securities Channel Check. Demand for PVs remains strong, but production constraints remain in the automatic and higher-end SUVs. Tractors work stably and strongly.

Tata Power announced on Tuesday that the board of its Tata Power Renewable Energy arm has approved the allotment of 20 million preferred shares worth £2,000 million to GreenForest New Energies Bidco. This completes both tranches of investments of £2,000 billion each into TPREL made by GreenForest under the terms of the agreements, it said.

Reliance Industries Ltd is moving into the commercial real estate development business and has a subsidiary called Reliance SOU Ltd. founded. The company announced in an exchange filing on Tuesday that it formed Reliance SOU “to engage in the business of developing land for commercial use, among other things.” It has invested an initial capital of 1 lakh in the subsidiary.

State-owned NTPC announced Tuesday that it had transferred all of its renewable energy (RE) assets to its subsidiary NTPC Green Energy (NGEL). “Under the aegis of the Government of India’s National Monetization Pipeline (NMP), on February 28, 2023, NTPC completed the closing of transactions related to the consolidation of its RE portfolio under one umbrella company, i.e. NGEL, the country’s largest power generator, said in an explanation.

Tech Mahindra on Tuesday announced the strengthening of its partnership with Microsoft to provide Nexus solutions for Azure operators. According to an official statement, it will enable telecom operators to build, deploy and operate a scalable 5G cellular core.

Integrated Core Strategies (Asia) Pte bought shares in biopharmaceutical company Biocon for ₹185 crore via an open market transaction on Tuesday. According to bulk deals data available from the National Stock Exchange (NSE), Integrated Core Strategies (Asia) Pte purchased 80,61,599 shares at an average price of £229.26 per share. The total value of the deal is ₹184.82 crore. Details about the sellers could not be determined immediately.

Power Grid Corporation of India Ltd has been declared as the winning bidder in the tariff-based competition for the establishment of an interstate transmission system for the construction of Khavda Pooling Station-3 (KPS3) at Khavda RE Park for construction, own operation and transmission ( BOOT) base,” it said.

Zydus Lifesciences has received US Food and Drug Administration (USFDA) approval for apixaban tablets, which block the activity of certain blood clotting substances. The drug is manufactured in Moraiya in Ahmedabad. Zydus has also received USFDA approval for olmesartan medoxomil and hydrochlorothiazide tablets, which are used to treat high blood pressure (hypertension).

Vodafone Idea has allotted to ATC Telecom Infrastructure the remaining 4,000 optional convertible notes (OCDs) with a nominal value of 10 lakh each. The Company has thus completed the entire allocation transaction of 16,000 OCDs to ATC. Shareholders approved the OCDs grant at the February 25 Extraordinary General Meeting.

Bharat Electronics has signed a master supply agreement with Thales Reliance Defense Systems (TRDS), Nagpur, for the manufacture and supply of TR modules, radar LRUs (Line Replaceable Units) and micromodules.

Samvardhana Motherson International has announced the completion of the purchase of assets of Daimler India Commercial Vehicles (DICV) frame fabrication and assembly operations. The automotive components manufacturer signed a strategic agreement to acquire these assets in September last year and also entered into a long-term agreement with DICV to supply the complete frame assembly.

Seamec Ltd has entered into a charter party with HAL Offshore for the chartering of the vessel ‘Seamec Paladin’ for a 5 year ONGC contract. The charter price is $35,000 per day for marine activities. The ship has completed modification and has arrived in India, preparing to mobilize for the ONGC contract. The total order value amounts to approximately 64 million US dollars.

Adani Enterprises subsidiary, Mundra Aluminum, was named the preferred bidder and subsequently received a letter of intent from the Odisha government for the Kutrumali bauxite block in Odisha.

Also read: Adani Green Stock Rise: Green shoots or a lucky day Stocks that will go into action on March 1, 2023

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