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  5. Stocks to watch, January 8: Berger Paints, Jindal Worldwide, Ola Electric, M&M, Tata Steel, CESC, and more

Market News

Stocks to watch, January 8: Berger Paints, Jindal Worldwide, Ola Electric, M&M, Tata Steel, CESC, and more

Upstox
By Upstox News Desk

6 min read | Updated on January 08, 2025, 08:25 IST

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SUMMARY

Jindal Worldwide Ltd. said on Tuesday it would issue four bonus shares to its shareholders against one each held by them. In its exchange filing, the company said it would issue bonus equity shares in the proportion of 4:1—four new fully paid-up equity shares of ₹1 each for one existing fully paid-up equity share of ₹1 each held—to eligible equity shareholders.

Stock list

JINDWORLD
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OLAELEC
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TATASTEEL
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CESC
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At 7:56 AM, the GIFT Nifty futures were trading at 23,776, up 82 points, or 0.35%.

At 7:56 AM, the GIFT Nifty futures were trading at 23,776, up 82 points, or 0.35%.

Stocks to Watch: The domestic equity market is expected to start trading with mild losses on Wednesday, January 8.

At 7:56 AM, the GIFT Nifty futures were trading at 23,776, up 82 points, or 0.35%. This suggests that the NIFTY50 index will open 20 points lower.

On the global front, Asian stocks drifted lower on Wednesday, with a robust dollar keeping the yen pinned near six-month lows as traders wagered the Federal Reserve will likely be slow in cutting rates after data showed the US economy and labour market remained stable.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%, with Japan's Nikkei down 0.8%. On Wall Street, all three main indexes finished lower as the data stoked worries of a rebound in inflation.

Here is a list of stocks that may remain in focus today.
Jindal Worldwide: Jindal Worldwide Ltd. on Tuesday said it would issue four bonus shares to its shareholders against one each held by them. In its exchange filing, the company said it would issue bonus equity shares in the proportion of 4:1—four new fully paid-up equity shares of ₹1 each for one existing fully paid-up equity share of ₹1 each held—to eligible equity shareholders.
Berger Paints: Berger Paints issued a clarification on news reports that the company was looking to buy Akzo Nobel's India stake. It said that at present there is no material event/information/development in this matter to disclose under the Listing Regulations.
Dr Reddy's: Dr. Reddy’s Laboratories Inc, USA, the wholly owned subsidiary of the company, has entered into an agreement for the sale of all the issued and outstanding membership interests in its wholly owned subsidiary, Dr. Reddy’s Laboratories Louisiana LLC (DRLL), along with the manufacturing facility of DRLL in Shreveport, Louisiana, USA.

"Consequently, Dr. Reddy’s Laboratories Louisiana LLC will cease to be a wholly owned subsidiary of Dr. Reddy’s Laboratories Inc as well as step down as a wholly owned subsidiary of Dr. Reddy’s Laboratories Limited," the company said in its exchange filing.

CESC: CESC Limited (CESC) has issued the Letter of Award to Purvah Green Power Private Limited (Purvah), a subsidiary of CESC, for the project to set up a 150 MW wind-solar hybrid power project, with an additional 150 MW capacity under the greenshoe option.
Tata Steel: Steel major Tata Steel on Tuesday said its crude steel production in the country grew by six per cent to 5.68 million tonnes in the third quarter of the current fiscal.

The company's crude steel output was 5.35 MT in the corresponding quarter of the previous fiscal.

"Tata Steel India crude steel production stood at 5.68 million tonnes. Production was up eight percent quarter-on-quarter and six per cent year-on-year, aided by the commissioning of the five MTPA blast furnaces at Kalinganagar in September," the steel firm said in a regulatory filing.

M&M: Mahindra & Mahindra (M&M) has announced the pricing for its high-end Pack Three variants of the Electric Origin SUVs, BE 6 and XEV 9e, during the Unlimit India Tech Day event held in Pune. The BE 6 Pack Three is set at ₹26.9 lakh, while the XEV 9e goes for ₹30.5 lakh.
Ola Electric Mobility: The company has received an administrative warning via email on January 7, 2025, issued by SEBI through its letter dated January 7, 2025.

"The administrative warning letter issued by the SEBI in connection with the violation of regulations 4(1)(d), 4(1)(f), 4(1)(h), and 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 w.r.t channels for disseminating information shall ensure equal, timely, and cost-efficient access to relevant information for all investors," Ola Electric said in its exchange filing.

Sobha: In Q3-FY25, Sobha recorded a sales value of ₹13.88 billion, supported by a new sales area of 1.01 mn sft at an average price realisation of ₹13,663 per sft. Sales value recorded growth of 17.8% compared to the previous quarter.
Rail Vikas Nigam Limited (RVNL) has signed an MoU with M/s GBH International Contracting LLC (GBHIC), a Dubai, United Arab Emirates-based company. The main objective of the MoU is to work together to explore the business opportunities in the civil infrastructure sector in GCC countries.
Signatureglobal (India): Realty firm Signature Global on Tuesday reported a more than two-fold jump in sales bookings to ₹2,770 crore mainly on better demand for its housing projects in Gurugram.

The company had sold properties worth ₹1,260 crore in the year-ago period.

Signature Global Chairman Pradeep Kumar Aggarwal attributed the growth in sales bookings to customers' trust in the company.

Tata Technologies: Tata Technologies on Tuesday said it has partnered with Telechips, an automotive semiconductor solutions company, aimed at innovations for vehicle software solutions for next-gen software-defined vehicles.

Under the strategic partnership, the two companies aim to develop innovative solutions for ADAS (advanced driver-assistance system) platforms, automotive cockpit domain controllers, and central and zonal gateway controllers that will accelerate the realisation of software-defined vehicles (SDVs), Tata Technologies said in a statement.

SBI: The lender has appointed Baldev Prakash as deputy managing director and group chief risk officer.
Puravankara: Realty firm Puravankara Ltd has appointed Deepak Rastogi as the Group Chief Financial Officer (CFO), with effect from January 15, 2025.

Rastogi brings over three decades of extensive experience in finance, strategy, and transformation across diverse industries and international markets, Bengaluru-based Puravankara said in a statement.

NTPC: The company announced the incorporation of “NTPC PARMANU URJA NIGAM LIMITED” as a wholly owned subsidiary of NTPC Limited for undertaking nuclear energy business.

"The objective of the company is to carry on the business of planning and executing an integrated programme for harnessing and developing nuclear energy for generating electricity or other purposes on a commercial basis and to build, own, operate, and manage, or to operate and manage as an agent, nuclear energy and promote research and development, select suitable sites for nuclear power stations and ancillary facilities of every kind and description, etc.," it said.

Birlasoft: Roopinder Singh has resigned from his position as chief executive officer—Americas of the company, effective February 7.
Maruti Suzuki India: Maruti Suzuki India Limited (MSIL) on Tuesday announced its progressive blueprint for electric mobility, christened ‘e For Me.’ "This strategic vision embodies a comprehensive ecosystem that integrates state-of-the-art electric vehicles, pioneering technology, and a robust charging infrastructure," the press release said.
(With inputs from Reuters)

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