Top stocks in focus: Hindalco, Adani Enterprises, Hero MotoCorp, Tata Power, Vedanta

22 Feb 2022 , 07:35 AM

Hindalco: Novelis announced that it will invest approximately $50 million to build a recycling center at its Ulsan Aluminum joint venture in South Korea. Fully funded by Novelis, the Ulsan Recycling Center will have an annual casting capacity of 100 kilotonnes of low-carbon sheet ingot. Once online, the company’s expects the recycling center to reduce the company’s carbon emissions by more than 420,000 tons each year.

Adani Enterprises: Adani Group has signed a non-binding Memorandum of Understanding (MoU) with Ballard Power Systems to evaluate a joint investment case for the commercialization of hydrogen fuel cells in various mobility and industrial applications in India. Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India.

Hero MotoCorp has created a new position, titled Chief Growth Officer, integrating the Marketing, Sales, and After-Sales functions. Ranjivjit Singh — who has been heading Marketing – is being elevated to this newly constituted role of Chief Growth Officer, with immediate effect.

Tata Power and RWE have agreed on a partnership to explore the potential for joint development of offshore wind projects in India. A corresponding Memorandum of Understanding (MoU) has been signed between Tata Power Renewable Energy Limited, a 100 percent subsidiary of Tata Power, which is one of India’s largest integrated power companies, and RWE Renewables GmbH, one of the world’s leaders in offshore wind.

Vedanta: The firm announced it has made an oil discovery in its exploratory well in Rajasthan’s Barmer district. In a regulatory filing, the company said it has notified the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas about the oil discovery in a block that was awarded to it under the Open Acreage Licensing Policy (OALP). This is the third hydrocarbon discovery notified by the company under the OALP portfolio.

Isgec has commissioned its largest Biomass Boilers for a Bio Ethanol project in Thailand for GKBI through an EPC company, Sbang Corp. Ltd., Thailand.

BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda (BoB) and Indian Railway Catering and Tourism Corporation Ltd (IRCTC) have come together to launch the IRCTC BoB RuPay Contactless Credit Card. The card is specially curated to offer maximum savings to frequent railway travellers.

7NR Retail: The company informed exchanges that it has approved the sub-division of equity shares from face value of Rs10 each to face value of Re1 each.

NHPC: The firm said its 120 MW Sewa-II power station in Mashka in Union Territory of Jammu and Kashmir has resumed power generation. The power station was under complete shutdown from September 25, 2020 due to damage of the Head Race Tunnel (HRT).

Krsnaa Diagnostics: Himachal Pradesh gave an order to Krsnaa Diagnostics for providing diagnostic and laboratory services in the state. Krsnaa will install, operate and maintain Routine and Advance Laboratory testing facilities at selected Public Health Institutions (PHIs) which includes Government Medical Colleges, Districts / General Hospitals owned by Government and Community Health Centers.

Shankara Building Products: Flowering Tree Investment Management Pte Ltd sold 36,000 shares in the company via open market transactions on February 18. With this sale, Flowering Tree now holds 4.85 percent stake from 5.01% earlier.

Ducon Infratechnologies: The company said its board will meet on February 25 to consider the proposal for issue of bonus shares