Stock that will see action today: January 20, 2025

Results Calendar: Zomato, IRFC, Dixon Technologies, Indian Overseas Bank, IDBI Bank, Oberoi Realty, One 97 Communications, Supreme Inds, Central Bank of India, APL Apollo Tubes, AGI Greenpac, Aurum Proptech, L&T Finance, MCX, ICICI Securities, Indo Star Finance, IDBI, MRPL, Newgen Software, Nazara Technologies, Gayatri Bioorganics, Karur Vyasa Bank, J&K Bank, Oberoi Realty, Sunteck Realty, AGI Greenpac, Vidhi Specialty, International Travel House.

Sugar stocks will in focus on Monday, as the government has allowed export of 1 million tonnes (mt) of sugar, a Businessline report quoting sources said. The move will help mills realise better rates amid falling prices in the domestic market. Both the Indian Sugar and Bio-Energy Manufacturers Association (ISMA) and the National Federation of Cooperative Sugar Factories were insisting that exports be permitted to help mills pay sugarcanefarmers. Though ISMA had sought approval for 2 mt of sugar exports, Union Food Secretary Sanjeev Chopra, in December 2024, said the government would take a decision based on the actual surplus, stating that the first two priorities are to ensure sufficient domestic availability and divert surplus towards ethanol.

Muthoot Finance has received the Upper Layer status for the first time in FY’23. In Q2-FY25, the company had crossed the historic milestone of ₹1 lakh crore in consolidated loan assets under management. In Q2 FY25, it recorded a net profit of ₹1,321 crore, registering a 21% year-on-year growth, and its total revenue from operations surged by 36.7% to ₹4,928.8 crore.

Western Coalfields Ltd (WCL), a subsidiary of Coal India, has projected flat coal production at 69 million tonne in FY’25, mirroring last year’s output, as it grapples with operational and pricing challenges. Despite achieving its highest-ever coal production of 69.113 million tonne in FY24, reflecting a 7.5 per cent growth, WCL anticipates no growth this fiscal or the next due to limited reserves, adverse geo-mining conditions, and escalating production costs, a top company official said, according to PTI.

IndusInd Bank’s CFO, Gobind Jain, has stepped down from his position, citing personal reasons, according to an exchange notice. Arun Khurana, the bank’s Executive Director and Deputy CEO, will take over the role of CFO, effective Tuesday, January 21.

The board of Hitachi Energy India has approved the proposal for raising of funds either by way of issuance of Equity Shares and / or other securities including securities convertible into Equity Shares, warrants or fully convertible debentures, partly convertible debentures, non-convertible debentures along with warrants, or convertible preference shares for an aggregate amount not exceeding Rs 4,200 crores by way of public issue, rights issue, preferential allotment, private placement, including Qualified Institutions Placement in one or more tranches.

 TD Power Systems has received a prestigious order from Nuclear Power Corporation of India (NPCIL) valued at Rs.57 Cr (inclusive of GST of Rs.9 Cr) for the supply of Induction motors. These unique low-speed motors will replace existing high-speed imported motors with reduction gearboxes. he motors will be supplied to NPCIL’s Kudankulam plant with delivery, erection and commissioning scheduled during FY 2025-26 and 2026-27.

Dixon Technologies (India) Limited announced that its subsidiary, IsmartU India Private Limited (IIPL), has signed a Binding Memorandum of Understanding (MOU) with KHY Electronic India Private Limited (KHY)on January 18, 2025. The MOU is aimed at enhancing IIPL’s manufacturing capacity through the acquisition of assets from KHY.

Adani Energy Solutions Ltd, India’s largest electricity transmission and distribution company, has won two new transmission projects, helping swell its order book to Rs 54,700 crore — more than three times of the work order it had at the start of current fiscal in April 2024. In October-December 2024 — the third quarter of the fiscal year April 2024 to March 2025 (FY25), won two new transmission projects worth Rs 28,455 crore in Rajasthan, related to the renewable energy park, Jefferies said in a report. The orders include the 25,000-crore Bhadla-Fatehpur HVDC project, which is AESL’s largest order win till date.

Ashapura Minechem has announced that its overseas subsidiary has entered into a long-term memorandum of understanding (MoU) with China Railway. The MoU outlines a strategic partnership to jointly develop the bauxite deposit located in the Kindia region of Guinea.

Burmans’ Religare Enterprises’ open offer to acquire an additional 26 per cent stake from the open market would commence on January 27 following the regulatory approvals. Last month, the Reserve Bank approved the open offer of the Burman family — the promoters of FMCG major Dabur — to acquire an additional 26 per cent stake in NBFC firm Religare Enterprises Ltd (REL).

The Union Cabinet has approved a Rs 11,440 crore revival package for Rashtriya Ispat Nigam Ltd to help the struggling steelmaker tide over its financial woes, Union Steel Minister HD Kumaraswamy said on Friday. He also said that the privatisation issue of the steel-making entity does not arise.

Mahanagar Gas has received an Order from Joint Commissioner CGST and Central Excise Mumbai East Commissionerate, confirming GST liability amounting to Rs. 54,32,95,413/- plus applicable interest and 100% penalty for equivalent amount under Section 74(1) of Central Goods and Services Tax Act.

Zydus Lifesciences has received approval from USFDA to conduct Phase II(b) clinical trial for Usnoflast, a novel oral NLRP3 inflammasome inhibitor in patients with Amyotrophic Lateral Sclerosis (ALS).

Gland Pharma informed the exchanges that following the Inspection for Good Manufacturing Practices (GMP) by US FDA at the Company’s Pashamylaram facility at Hyderabad between July 25, 2024, and August 2, 2024, the Company has received Establishment Inspection Report (EIR) from the US FDA indicating closure of the inspectio.

Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement (QIP) during the ongoing quarter, a top official of the bank said, according to a PTI report. The bank has already appointed merchant bankers and legal advisers for the proposed QIP, Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. “With the QIP, the government holding in the bank would come down 3-4 per cent and capital adequacy ratio would rise at the end of March 2025,” he said. The government of India holds 98.25 per cent stake in Punjab & Sind Bank at the end of December 2024, he said.

Tech Mahindra has announced the opening of an advanced Manufacturing Experience Centre at its Chennai campus. The centre was inaugurated by Mahindra Group chairman Anand Mahindra and Tech Mahindra CEO Mohit Joshi, according to a company statement. The centre will help manufacturers to quickly prototype and scale AI-based innovations to tackle industry issues like high operational expenses, inefficiencies in processes, supply chain disruptions, and complex operational challenges.

Tata Motors has unveiled 32 passenger and commercial vehicles as well as various intelligent solutions at the Auto Expo in the national capital. Hyundai Motor India plans to set up 600 public fast charging stations across India over the next seven years to bolster the adoption of electric vehicles. The company has launched Creta Electric in the country with a price starting at Rs 17.99 lakh (ex-showroom). Ashok Leyland has unveiled entry-level Light Commercial Vehicle Saathi at Bharat Mobility Global Expo, strengthening its play in the segment. The Hinduja group firm has also presented GARUD 15, a multi-axle, front-engine 15-meter fully-built premium bus, a first in the country. It is designed specifically for long-distance intercity travel for India’s diverse road conditions, with 42 sleeper berths.