Stocks in news: Tata Power, BHEL, Adani Enterprises, Adani Power and more

The domestic equity market was trading higher on Tuesday. Sensex rose 65 points to 65,280 and Nifty was up 22 pts to 19,416.

Here's a look at stocks that are likely to remain in news today.  

Welspun Enterprises

Welspun Enterprises has announced the successful acquisition of a 50.10% stake in Michigan Engineers  from Authum Investment & Infrastructure Limited and Sansaar Housing Finance Limited,  for an equity investment of Rs 137.07 crore.

Tata Power

The company's subsidiary Tata Power Renewable Energy Ltd (TPREL) inked a power purchase agreement (PPA) for 9MWp on campus solar plant with Tata Motors' Pantnagar plant in Uttarakhand. The project will be commissioned within six months from the PPA execution date. Tata Motors also mentioned that a 7 MWp solar project was previously implemented by TPREL and Tata Motors at the Pantnagar production facility. The solar plant will be the largest on campus solar facility in Uttarakhand.

BHEL

BHEL has received an order from Mahan Energen, a unit of Adani Power. The order is worth about Rs 4,000 crore. The order pertains to the supply of equipment (boiler, turbine, generator) and supervision of erection & commissioning for 2x800 MW power project based on supercritical technology at Bandhaura, Madhya Pradesh. Boiler and turbine generator are to be manufactured at BHEL's Trichy and Haridwar plants, respectively.

Paytm

Paytm is investing in AI to build an Artificial General Intelligence software stack to help financial institutes capture risks and frauds, said chief Vijay Shekhar Sharma in the fintech firm's annual report for 2022-23. In his letter to shareholders, Sharma spoke that Paytm pioneered mobile payments in India and led mass adoption with innovations like QR Codes and Soundbox.

Union Bank of India

Shares of Union Bank of India Ltd are in focus as the board of the lender approved raising of up to Rs 5,000 crore via qualified institutional placement (QIP). Floor price for the QIP has been fixed at Rs 91.10 per share.  The decision was taken by Union Bank's committee of directors for raising capital funds, which met on Monday.

Also read: Hot stocks on August 22, 2023: Adani Power, Zomato, BHEL, Welspun Enterprises, Union Bank and more

Adani Power

Shares of Adani Power are in focus after the Adani group company in an investor presentation said it was aiming to achieve a thermal generation capacity of 21,110 MW by FY29, with proposed brownfield projects and inorganic growth.  Adani Power has an existing capacity of 15,210 MW. It has committed  brownfield projects of 1,600 MW and proposed another 3,200 MW projects.

Adani Enterprises

Shares of Adani Enterprises are in focus today as the Adani group promoters upped stake in the group's flagship firm, taking it close to the 70 per cent mark. Kempas Trade and Investment Ltd, a promoter group entity, raised its stake to 69.87 per cent in Adani Enterprises from 67.65 per cent per cent. The promoter firm acquired this additional 2.22 per cent stake via open market operations between August 7 and August 18.

 

Also read: RIL shares: What analysts say ahead of Reliance Industries AGM on August 28; stock price targets & more

Also read: Adani Power shares in focus as Adani firm aims for 21,110 MW thermal generation capacity by FY29