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Stocks in Focus: Power Grid Corporation of India, Coal India, AstraZeneca Pharma, and Others

Picture Source: Internet.

The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.19% higher by 48 points at 26,007 indicating that the domestic benchmark indices are likely to make a positive start on Tuesday. 

On Monday, 23 September, Domestic benchmark indices S&P BSE Sensex soared 384 points or 0.45% to end at 84,928.61 while the Nifty50 traded 148 points higher or 0.57%, and settled at 25,939.

Here are some stocks that are likely to remain in focus on 24 September.

Power Grid Corporation of India: The company has emerged as the successful bidder for a key inter-state transmission project that involves the installation of dynamic reactive systems at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3) in Gujarat. 

Coal India: The company has signed a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL), wherein the company will hold a commanding stake of 74%. The joint venture was signed to undertake renewable energy business in Rajasthan. 

AstraZeneca Pharma: The pharma major has received approval from the Central Drugs Standard Control Organisation (CDSCO) to import and distribute durvalumab (Imfinzi) for an additional indication in India. 

Vodafone Idea: The company is in talks with the centre for its Adjusted Gross Revenue (AGR) dues that have been pegged substantially higher by the Department of Telecommunications. 

NHPC: The company has declared a total dividend of Rs 1,286.33 crore for the fiscal year 2023-24, which includes a final dividend of Rs 338.51 crore that was recently paid to the central government. 

NBCC (India): A company’s subsidiary has secured a Rs 1,261 crore contract to construct the All India Institute of Medical Sciences (AIIMS) in Darbhanga, Bihar. 

Firstsource Solutions: The company’s subsidiary, Firstsource Solutions UK Ltd has acquired Ascensos, which is a Uk-based customer experience outsourcing partner for retail and e-commerce business for a total consideration of £42 million.

Reliance Power: The Board of Directors of the company have approved a preferential issue to raise Rs 1,524.60 crore by issuing 46.20 crore equity shares for a issue price of Rs 33 per share. 

BGR Energy Systems: The company has received a contract termination notice from the Chennai Metropolitan Water Supply and Sewerage Board regarding the design, build, and operation (DBO) project for a 45 MLD capacity tertiary treatment reverse osmosis (TTRO) plant in Kodungaiyur.

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