Stocks in news: Adani Green, Vedanta, IRFC, Adani Energy, Welspun Corp & Premier Energies

Indian benchmark indices tried to make a marginal recovery on Tuesday and settled with modest gains due to eased down domestic CPI inflation. However, India Inc's results season, crude oil prices and weakness in rupee will guide momentum on Dalal Street in near term. The BSE Sensex added 169.62 points, or 0.22 per cent, to end at 76,499.63. NSE's Nifty50 rose 90.10 points, or 0.39 per cent, to settle at 23,176.05. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, January 15, 2025:

Q3 results today: HDFC Life Insurance Company, Oracle Financial Services Software, L&T Technology Services, Punjab & Sind Bank, Ceat, Bank of Maharashtra, Authum Investment & Infrastructure, Maharashtra Scooters, Transrail Lighting, Oriental Hotels, Nelco and Aeroflex Industries are among the companies that will announce their results for December 2024 quarter.

Adani Green Energy: The Adani Group entity' subsidiary, Adani Renewable Energy Forty Eight, has commissioned a 57.2 MW wind power component of its wind-solar hybrid project at Khavda, Gujarat worth. With the commissioning of this plant, the company's total operational renewable generation capacity has increased to 11,666.1 MW.

Vedanta: The mining major has received an order from the Deputy Commissioner of State Tax, Udaipur, confirming a penalty of Rs 92.55 crore along with a tax demand and applicable interest for FY19 & FY20. The issue pertains to a dispute over Input Tax Credit.

Adani Energy Solutions: The Adani Group entity won transmission projects worth Rs 28,455 crore in the quarter ended December 2024, bolstering the company's under-construction project pipeline to Rs 54,700 crore.

Indian Railway Finance Corporation: The railway firm has emerged as the L1 bidder for financing Rs 3,167 crore for the development of the Banhardih coal block in Latehar District, Jharkhand. This project is being undertaken by Patratu Vidyut Utpadan Nigam (PVUNL), a joint venture between NTPC and Jharkhand Bijli Vitran Nigam.

Network18 Media & Investments: The media major reported a consolidated loss of Rs 1,435.5 crore in the quarter ended December 31, compared with a loss of Rs 58.8 crore in the same quarter last year. The Mumbai-based company’s revenue from operations dropped by 23.3 per cent to Rs 1,360.5 crore. News business revenue grew marginally, while Ebitda margins dropped.

Welspun Corp: The metal and metal pipe company has signed an MoU with Saudi Aramco for strategic cooperation to establish LSAW line pipe manufacturing capacity in the Kingdom of Saudi Arabia. The production capacity of this plant will be 350,000 MT per annum.

Innova Captab: The pharmaceutical company has announced the commencement of commercial production at its manufacturing facility in Kathua, Jammu. The facility comprises four dedicated manufacturing blocks: General, Cephalosporin, Penicillin, and Penum. The company now has a total of five manufacturing facilities with nine independent manufacturing blocks.

Premier Energies: The renewable company's subsidiaries Premier Energies Global Environment, Premier Energies International, and Premier Energies Photovoltaic have received multiple orders worth Rs 1,460 crore from two large independent power producers (IPP) and others. These orders include Rs 1,041 crore for solar modules and Rs 419 crore for solar cells.

Shoppers Stop: The retail player reported a 41.7 per cent YoY growth in its net profit at Rs 52.2 crore in the December 2024 quarter, while revenue surged 11.5 per cent YoY to Rs 1,379.5 crore. Ebitda for the period rose 13 per cent YoY to Rs 245.8 crore, with margins expanding 20 basis points.

Optiemus Infracom: The telecom company's subsidiary, Optiemus Unmanned Systems, announced its partnership with KunWay Technology, a Taiwan-based drone manufacturing company, to manufacture their wide range of drones in India. Optiemus Unmanned Systems will be selling, manufacturing, and localizing some of the shortlisted products for the Indian market.

Allcargo Gati: The total volume for December 2024, including surface and air express, stood at 1.13 lakh tonnes, rising 7.6 per cent compared to 1.05 lakh tonnes during December 2023 and up 10.8 per cent compared to 1.02 lakh tonnes in November 2024.

Sula Vineyards: The leading wine producer reported a 0.7 per cent YoY drop in the net revenue to Rs 217.3 crore, while its own brands revenue rose 1 per cent YoY to Rs 194.7 crore. Wine tourism revenue increased 11.5 per cent to Rs 16.4 crore for the reported quarter.

Jaiprakash Associates: The National Asset Reconstruction Company (NARCL) has emerged as the sole bidder to acquire Jaiprakash Associates' loans, valued at Rs 12,000 crore, from its lenders, suggests some media reports. According to sources, no other bidders participated in the Swiss Challenge Auction conducted on January 14.

Jammu & Kashmir Bank: The state run lender has received an administrative warning letter from SEBI for non-compliance with regulations pertaining to the appointment of Amitava Chatterjee as MD & CEO of the bank.

Morepen Laboratories: The medical company board has approved the hiving off the medical devices business of the company to Morepen Medtech, a subsidiary of the company, on a slump sale basis as a going concern. This hiving off is subject to the receipt of the requisite regulatory approvals.

Indiabulls Enterprises: The commercial services company has launched a residential project, Indiabulls Estate & Club-I, in Gurugram. The project will consist of three residential towers, comprising 387 units. Bookings for the project commenced on January 14.

Techknowgreen Solutions: The recently listed SME player has received a work order worth Rs 3.13 crore from Gargantuan Industrial Space Solutions.
 

IEL: The trading player has announced a Rs 45 crore rights issue to expand into warehousing and logistics sector and it has acquired 29,800 square meters of land in Lucknow. The rights issue is set to between on February 4 and February 21 2025 as the company shall issue up to 10,01,28,990 fully paid-up equity with a face value of Rs 1 each for cash at a price of Rs 4.45 apiece.