Stocks to Watch: SJVN, Kirloskar Industries, Piramal Enterprises, Suzlon Energy, and more | Stock Market News
Source: Live Mint
Here’s a quick look at stocks likely to be in focus in today’s trade.
SJVN: State-owned power producer SJVN Ltd announced on December 31 that it has signed a Memorandum of Understanding (MoU) with the Bihar government to develop the Hathidah Durgawati Pumped Storage Project (PSP) with a capacity of 1,000 MW. The project, located on the Durgawati River in Kaimur District, is estimated to cost ₹5,663 crore and is designed to generate 6.325 Million Units (MU) of daily peak energy, translating to 2,308.65 MU annually. With a levelized tariff of ₹9.39 per kWh and a pumping energy rate assumption of ₹3 per kWh (February 2024 prices), the project is expected to create 5,000 direct and indirect jobs and attract ₹10,000 crore in investments.
Piramal Enterprises: Piramal Enterprises has infused ₹1,000 crore into its wholly-owned subsidiary, Piramal Capital & Housing Finance Ltd (PCHFL), through a rights issue subscription. The funds will be utilized for business expansion and general corporate purposes. The transaction does not alter the shareholding structure, with Piramal Enterprises retaining full ownership of PCHFL.
Kirloskar Industries: Kirloskar Industries announced plans to challenge a directive from the Securities and Exchange Board of India (SEBI) that requires the disclosure of a family settlement deed dated September 11, 2009. SEBI issued the directive in a letter dated December 30, 2024, under applicable regulatory provisions.
Kalpataru Projects: Kalpataru Projects, along with its international subsidiaries, has received new orders and awards worth ₹1,011 crore. The projects span the transmission and distribution (T&D) sector in international markets, railways in India, and the buildings and factories (B&F) segment within the country.
ITD Cementation: ITD Cementation has secured a marine contract worth ₹1,648 crore (excluding GST) for the greenfield Vadhvan Port in Dahanu, Maharashtra. The project involves nearshore reclamation and shore protection for what is set to become India’s largest deep-water port, with an overall investment of ₹76,220 crore.
Suzlon Energy: Suzlon Energy Ltd announced on December 31 that the Income Tax Appellate Tribunal (ITAT) has cancelled a tax penalty of ₹87.59 crore imposed on the company for FY16. The penalty, initially levied under Section 271(1)(c) of the Income Tax Act, 1961, was related to disallowances from the financial year 2015-16. Suzlon had previously disclosed the issue in a regulatory filing dated March 28, 2024.
