Stocks To Watch: Tata Power, SJVN, Afcons Infrastructure, Protean eGov, Hyundai Motor

Tata Power Ltd., SJVN Ltd., Afcons Infrastructure Ltd., Protean eGov Technologies Ltd. and Hyundai Motor India Ltd. will be the stocks to watch before going into trade on Friday.

Tata Power signed a memorandum of understanding with Asian Development Bank for $4.25 billion to finance clean energy initiatives.

SJVN has also signed a MoU for development of 5 gigawatts of pumped storage projects and 2 GW floating solar projects in the state.

Afcons received a letter of acceptance from the Uttarakhand Project Development and Construction Corp. for civil works worth Rs 1,274 crore.

Stocks to Watch

• Tata Power: The company signed an MoU with Asian Development Bank for $4.25 billion to finance clean energy initiatives. The collaboration will fund strategic projects, including a 966-megawatt solar-wind hybrid power project, a pumped hydro storage system, and advancements in battery storage and distribution networks.

• SJVN: The company signed an MoU with the Rajasthan Energy Department to spearhead the development of renewable energy in the state. Under the MoU, SJVN will develop 5 GW of pumped storage projects and 2 GW of floating solar projects in the state.

• Afcons Infrastructure: The company received a letter of acceptance for Rs 1,274 crore from Uttarakhand Project Development and Construction Corp for civil works. The project also includes HM works for construction of 130.6 m high concrete gravity dam project in Uttarakhand. The project is to be completed in 60 months.

• Protean eGov Technologies: NSE Investments to sell up to 20.32% stake in the company via an offer for sale. The floor price is set at Rs 1,550 per share. The OFS will have a base offer of 41.17 lakh equity shares, representing a 10.16% stake and it will also have an option to additionally sell up to 41.17 lakh shares, representing a 10.16% stake.

• Hyundai Motor India: The company set up two renewable energy plants in Tamil Nadu to completely decarbonise its manufacturing units in the state. It has signed a power purchase and shareholder agreement with Fourth Partner Energy Pvt., a renewable energy-as-a-service enterprise, to set up a 75 MW solar power plant and a 43 MW wind power plant for captive use at its Chennai plant.

• Mphasis: The company has been named as the 'official digital partner' of MoneyGram Haas F1 Team. The company will collaborate with MoneyGram Haas F1 Team to develop cutting-edge solutions aimed at enhancing the team's performance on the track and driving operational efficiency off the track. Mphasis and MoneyGram Haas F1 Team will also engage fans through a series of interactive digital activations, bridging the gap between technology and sport.

• Raymond: The BSE and NSE have issued a 'no objection' letter for the demerger between Raymond and Raymond Realty. Raymond Realty, after obtaining the necessary approvals, will be listed on both the NSE and the BSE. The demerger plan aims to exploit the growth potential of the real estate business and attract a fresh set of investors and strategic partners to participate in it, Raymond said.

• LIC: The company increased its shareholding in LTIMindtree from 5.033% to 7.034%. The state-run insurer raised its stake by 2.001% —from 1.49 crore to 2.08 crore shares — in the information technology major between March 20 and Nov. 19 this year via open market purchases. The shares were acquired at an average price of Rs 4,950.8 apiece. On the basis of the average buying price, the overall value at which the 2.001% stake was acquired was calculated as approximately Rs 2,934.5 crore.

• ICICI Prudential Life Insurance Co.: The company to make an investment up to 10% of share capital in Bima Sugam India Federation. Bima Sugam aims to create and operate a centralised marketplace of insurance products and services.

• Wipro: The company has fixed Dec. 3 as a record date for the purpose of determining the equity shareholders of the company eligible for bonus equity shares.