Top 10 stocks for today – 2nd January 2024

2 Jan 2024 , 09:00 AM

Here are some of the stocks that may see significant price movement.

Bharti Airtel: As part of the group restructuring, subsidiary Bharti Airtel Services has agreed to buy 49,45,239 equity shares in Beetel Teletech, reflecting a 97.1% interest in another Bharti Group entity. Beetel Teletech also owns a 49% stake in the joint venture that produces telecom and networking equipment, including those eligible for the production-linked incentive (PLI) scheme.

Tata Steel: The National Company Law Tribunal in Kolkata approved the merger arrangement between Tata Steel, The Tinplate Company of India, and their respective shareholders.

Nestle India: The FMCG company received an order from the Additional Commissioner, Office of the Principal Commissioner, Central Goods & Services Tax & Central Excise Commissionerate, Chandigarh, for a tax demand of Rs 46.4 crore under the CGST/SGST Act, as well as applicable interest and penalty of Rs 4.65 crore.

TVS Motor Company: The two-and-three-wheeler manufacturer reported monthly sales of 3,01,898 units in December 2023, a 25% increase over the same month the previous year. Total exports increased by 8% year on year to 85,391 units in December 2023.

Life Insurance Corporation of India: The Corporation has received a demand order for Rs 806.3 crore from the Deputy Commissioner of State Tax, Mumbai, for the collection of GST along with interest and penalty for the state of Maharashtra. The demand order cum penalty notice is for fiscal year 2017-18, and it includes Rs 365 crore in GST and a penalty of Rs 404.77 crore. There is no major influence on the corporation’s finances, operations, or other activities of this notice.

Eicher Motors: Royal Enfield sold 63,387 bikes in December 2023, a 7% decrease from 68,400 motorcycles sold in the same month the previous year. Exports fell by 29% to 6,096 motorbikes, from 8,579 units at the same time.

SJVN: The Ministry of Finance’s Department of Investment and Public Asset Management (DIPAM) has consented to the Company’s and the Ministry of Power’s request to create four joint venture (JV) firms for the development of hydroelectric and renewable projects in India and Nepal. To construct 5,000 MW of renewable energy projects, the business would create a joint venture with Maharashtra State Power Generation business.

Coal India: Coal output jumped by 8.2% year-on-year to 71.9 million metric tonnes in December 2023, while it increased by 11% year-on-year to 531.9 million metric tonnes from April to December 2023. The offtake increased by 6.1% year-on-year to 66.6 million metric tonnes in December 2023.

UltraTech Cement: The country’s largest cement business increased overall sales volume by 6% year-on-year (2%) to 27.32 million metric tonnes, with India’s sales volume increasing by 5% year-on-year (2%) to 26.06 million metric tonnes.

Power Grid Corporation of India: Power Grid has been designated the preferred bidder for the construction of an inter-state transmission system for the evacuation of electricity from Rajasthan’s REZ (20GW) under Phase III, Part D, Phase I, on a build, own, operate, and transfer (BOOT) basis. The project scope includes the installation of 765 kV D/C transmission lines throughout Rajasthan and Delhi, as well as accompanying bay expansion works at existing substations in Rajasthan and Delhi.

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