Stocks To Watch: Torrent Power, Bajaj Finserv, Coal India, HUL, KEC International

Torrent Power Ltd., Bajaj Finserv Ltd. and Moil Ltd. will be the stocks in focus before going into trade on Tuesday.

Torrent Power board approved the opening of its QIP to raise up to Rs 5,000 crore to pare debt at a floor price of Rs 1,555.75 apiece while Bajaj Finserv ended its co-branded card partnership with DBS Bank India.

In November, Moil's manganese ore production reached a record of 1.63 lakh tonnes, while sales of Grade Unlocked manganese ore grew by 32% year-on-year, totaling 1.33 lakh tonnes.

• Torrent Power: The company's board has approved the launch of its QIP to raise up to Rs 5,000 crore to reduce debt, with a floor price of Rs 1,555.75 per share. The company may, at its discretion, offer a discount of up to 5% on the floor price for the issue.

• Bajaj Finserv: The company has ended its co-branded card partnership with DBS Bank India. This decision follows the non-bank lender's move to terminate co-branded credit card partnerships. The company is considering launching its own credit card business, pending regulatory approval, and is awaiting the final guidelines on the matter.

• Moil: In November, manganese ore production hit a record high of 1.63 lakh tonnes, while sales of grade unlocked manganese ore increased by 32% year-on-year, reaching 1.33 lakh tonnes. The company has also exceeded a turnover of Rs 1,000 crore within the first 8 months of FY25.

• Solar Industries (India): The company and its subsidiary have received an export order worth Rs 2,039 crore for the supply of defence products.

• Pricol, TVS Motor Co.: The company will acquire the plastic component division of TVS MOTOR arm Sundaram auto components for Rs 215 crore and will make an investment of up to Rs 120 crore In Arm Pricol Precision Products in one or more tranches.

• Godavari Biorefineries: The company has secured an exclusive license pact with Catalyxx for biobutanol and higher alcohols. It will set up 15,000 tons per year facility in first phase.

• KEC International: The VAT Tribunal has rejected the company's appeal against the VAT demand. The company is currently reviewing the order and plans to take appropriate legal action to challenge it in the High Court of Bangladesh.

• KPI Green Energy: The company has received its largest-ever order from Coal India for the establishment of a 300 MWAC ground-mounted solar PV plant, along with comprehensive Operation and Maintenance services for a period of 5 years. The contract value for the project is Rs 1,311 crore.

• Coal India: The company has executed a memorandum of understanding in Mumbai to explore the setting up of coal to synthetic natural gas project at WCL through Surface Coal Gasification.

• Nazara Technologies: The company has announced five investments totaling Rs 196 crore to fuel growth in gaming and entertainment. Out of the total investment, Rs 148 crore will be invested in its existing subsidiaries, including Sportskeeda, Nodwin Gaming, and Datawrkz.

• Popular Vehicles and Services: The company has received in-principle approval from NEXA to set up a NEXA Workshop in Kerala. The workshop will include 4 service bays and 5 body shop bays, which will help the company achieve a higher Service-to-Sales ratio compared to industry peers. This initiative will support the company’s leadership position as a Maruti service provider across India, driving higher margins and contributing to the company’s bottom-line growth.

• Hindustan Unilever: The company has made a payment of Rs 193 crore towards the tax demand order and provided an update on the tax dispute related to the GSK deal.

• Wipro on Tuesday will issue bonus shares in 1:1 ratio.