Stocks To Watch: HAL, Vedanta, Adani Green Energy, Tata Motors And More

Shares of Hindustan Aeronautics Ltd., Vedanta Ltd., Adani Green Energy Ltd. and Tata Motors Ltd. will be in focus on Tuesday.

The Cabinet Committee on Security approved a proposal for procurement of 240 aero-engines (AL-31FP) for the Indian Air Force's Su-30 MKI aircraft for Rs 26,000 crore from HAL under the Buy (Indian) category. The engines are to have 58% indigenous content.

Vedanta's board of directors sanctioned a third interim dividend of Rs 20 per equity share, with a nominal value of Rs 1 each, amounting to a total of Rs 7,821 crore for the current fiscal.

Adani Green Energy entered into a joint venture agreement with ARE64L and TotalEnergies Renewables. TotalEnergies will contribute an additional $444 million to create a 50:50 joint venture with Adani Green. This new partnership will oversee a portfolio of 1,150 MWac, comprising both operational and under-construction solar assets.

Tata Motors was issued a Rs 2 crore penalty order by the assistant commissioner in Jamshedpur. However, this penalty is not anticipated to have a significant financial impact on the company.

The benchmark stock indices recorded their best closing on Monday, with the NSE Nifty 50 extending gains for the 13th consecutive session—its longest run in decades—and the S&P BSE Sensex rising for the 10th consecutive session.

The Nifty closed 42.80 points or 0.17%, higher at 25,278.70, and the Sensex closed 194.07 points or 0.24%, up at 82,559.84. Intraday, the Nifty hit a new record high of 25,333.60 and the Sensex touched a fresh lifetime high of 82,725.28.

Despite the Nifty's continued upward momentum, options data indicates heavy call writing at the 25,300 level, which could act as resistance during the weekly expiry. Analysts recommend that traders consider booking profits and reinvesting at a dip, as the current bullish trend might face headwinds.

Analysts also noted that profit booking at higher levels and the muted performance of banking stocks, coupled with a relief rally in the dollar index, could influence market direction.

Hindustan Aeronautics: The Cabinet Committee on Security approved a proposal for procurement of 240 aero-engines (AL-31FP) for the Indian Air Force's Su-30 MKI aircraft for Rs 26,000 crore from HAL under the buy (Indian) category.

Vedanta: The company approved a third interim dividend of Rs 20 per share, totalling a payout of Rs 7,821 crore.

Kaynes Technology: Cabinet approves proposal for a new manufacturing plant with a capacity of 6.3 million chips per day. The total cost of the project is Rs 3,300 crore.

Hindustan Composites: To purchase 150,000 Swiggy shares for Rs 5 crore.

NMDC: Receives a penalty order of Rs 1,620 crore for alleged transport of iron ore without a Railway Transit Pass. The company also reported a 10% decrease in total production to 3.07 MT and an 11.3% drop in total sales to 3.14 MT for August 2024.

Welspun Corp.: Board approves a $100 million investment by its subsidiary, Welspun Pipes, for upgrading HFIW pipe manufacturing capabilities in the USA.

Maruti Suzuki: The car maker reported a 2% increase in total production for August, reaching 1,69,000 units year-over-year.

Adani Green Energy: The company approved the execution of binding documents, including a joint venture agreement with ARE64L and TotalEnergies Renewables. TotalEnergies will invest an additional $444 million to form a 50:50 JV with Adani Green. The new JV will manage a 1,150 MWac portfolio, including both operational and under-construction solar assets.

Tata Motors: The automaker received a penalty order of Rs 2 crore from the assistant commissioner, Jamshedpur. The penalty is not expected to have a material financial impact.

Shriram Finance: The board approved a fund raise through debt securities via private placement. The issue size is Rs 500 crore, with a greenshoe option of Rs 1,500 crore.

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