“Stocks to Watch: Check out the companies making headlines before the opening bell today”.
UltraTech Cement: The company announced commissioning of 1.30 mtpa brownfield cement capacity at Hirmi in Chhattisgarh, and 2.80 mtpa greenfield grinding capacity at Cuttack in Odisha. This is a part of the ongoing capacity expansion. With this, company’s total cement manufacturing capacity in India now stands at 126.95 mtpa.
Hero MotoCorp: The two-wheeler major is going to turn ex-dividend with effect from February 17. The firm has announced an interim dividend of Rs 65 per share for the financial year 2022-23.
RailTel Corporation of India: The company has received the work order from Bangalore Metro Rail Corporation for supply, installation testing and commissioning of the IT network infrastructure amounting to Rs 27.07 crore. Also, it received comprehensive annual maintenance contract worth Rs 6.22 crore per year for five years extendable to 10 years. The order will be executed within three months.
Bharat Forge: Bharat Forge, Hindustan Aeronautics’ foundry and forge division, and Saarloha Advanced Materials have signed MOU for collaboration in development and production of aerospace grade steel alloys. They also accentuate development, certification and application of new material for use in production of aircrafts, engines, and accessories.
Alkem Laboratories: The share price of the pharmaceutical firm will start trading ex-dividend with effect from February 17. The company announced an interim dividend of Rs 15 per share and a special dividend of Rs 25 per share for FY23.
Vedanta: Diversified natural resources company Vedanta Resources-owned Vedanta is declared as preferred bidder for nickel, chromium and associated platinum group elements block in Chhattisgarh. The preferred bidder is based on highest final price offer of 4.15% submitted by the company.
Angel One: Narayan Gangadhar has resigned from the post of Chief Executive Officer of the company with effect from May 16 this year due to personal reasons. With this, the day-to-day affairs of the company will be under Dinesh Thakkar as Chairman and Managing Director.
NLC India: The company has received power allocation order from the power ministry for its projects in Uttar Pradesh and Odisha. NLC, through its Joint Venture Company Neyveli Uttar Pradesh Power (NUPPL), is in the process of setting up of 1,980 MW coal-based thermal power project at Ghatampur, Uttar Pradesh; for which the entire power has been tied up with UP and Assam after allocation order issued by Ministry of Power. Further NLC has also planned to set up another coal-based pit head thermal power project of 2,400 MW at Talabira, Odisha; for which also the entire power has been tied up with Tamil Nadu, Pondicherry, Kerala, and Odisha.