The following are key points from a recent report on notable stocks to watch:
- Bharat Dynamics signed a contract worth Rs 8,161 crore with the Ministry of Defence for production and supply of Akash Weapon System to the Indian Army. The company also received an order of Rs 261 Crore for CMDS for MLH Helicopters.
- Rail Vikas Nigam received a Letter of Acceptance from the Ministry of Railways for manufacturing and maintenance of Vande Bharat trainsets, including upgradation of government manufacturing units and trainset depots. The total quantity is 200 trainsets, and Rail Vikas Nigam Limited share will be 25%. The period of execution is 82 months.
- Hero MotoCorp elevated Niranjan Gupta as its new Chief Executive Officer, effective from May 1, 2023. Pawan Munjal will continue as Executive Chairman and whole-time director on the company’s board.
- Bharat Electronics signed two contracts with the Ministry of Defence, jointly worth Rs 2,394 crore, for procurement of automated air defence control and reporting system ‘Project Akashteer’ for Indian Army, and acquisition of Sarang electronic support measure systems and associated engineering support package for Indian Navy.
- GR Infraprojects was selected as the lowest bidder for the construction of a four-lane access-controlled greenfield highway section of NH-163G from Venkatpur village in Warangal district to Thallasenkesa village in Mahabubabed district of Telangana at a cost of Rs 847.87 crore. The company also received a Letter of Award from the National Highways Authority of India for four highway projects cumulatively worth Rs 3,712.88 crore, across Karnataka, Maharashtra, and Uttar Pradesh.
- Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power, received a Letter of Award worth Rs 1,755 crore to set up a 300 MW solar project for NLC India in Rajasthan.
- JSW Steel was selected as the preferred bidder by the Ministry of Coal for two coal blocks in Jharkhand and one in Chhattisgarh, which hold 108.85 million tonnes and 235.72 million tonnes of coal reserves, respectively. The block in Chhattisgarh has 1,376.06 million tonnes of coal reserves.
- JK Cement expanded its grey cement capacity by 2 million tonnes per annum by increasing capacity at Mangrol, Muddapur, Jharli, and Aligarh facilities by 0.5 MTPA each. The overall grey cement capacity of the company now stands at 20.67 MTPA.