Stocks to watch out for today: Tata Motors, CG Power, Cipla, ZEE Entertainment and more

The domestic equity market closed lower on Monday. Sensex fell 671 points to end the session at 71,355 and Nifty lost 198 points to settle at 21,513.

Here’s a look at stocks to watch out for today.

Lemon Tree Hotels

The hotel chain will open a new hotel in Meerut, Uttar Pradesh. It will open from FY25 and will be franchised by the company. The hotel will have 75 rooms.

Tata Steel

The record date for the merger of Tata Steel and The Tinplate Company of India Limited (TCIL) has been fixed for Friday, January 19, 2024.

Inox Wind

Shares of Inox Wind Ltd, a wind energy solutions provider, will be in focus on Tuesday morning after the company said it received a letter of intent (LoI) for 50 MW turnkey wind power project from NLC India Ltd. The project, Inox Wind said, will be executed at the Dayapar site in Gujarat and connected to ISTS, the scope of which includes comprehensive operations & maintenance (O&M) services for over 10 years.

RailTel

RailTel Corporation has received a work order from Bihar Education Project Council for supply of teaching learning material for Class IV to V amounting to Rs 39.88 Crore (Including GST).

ZEE Entertainment

Shares of ZEE Entertainment are in focus today amid a report that the proposed ZEE-Sony merger could be called off.

Tata Motors

Jaguar Land Rover (UK), an arm of Tata Motors, logged a rise in sales volumes for the third quarter of FY24 (three-month period to 31 December 2023), reflecting improvements in supply as more vehicles were delivered to clients as per its filing.

Oil India

The state-owned oil & gas exploration company has inked a Joint Venture Agreement (JVA) with Assam Power Generation Corporation to work together in renewable/green energy business. The company will collaborate with the public sector company to achieve maximum renewable power generation in the state.

BEML

The company has inked a Rs 329.87 crore worth order from the Ministry of Defence to supply a Mechanical Minefield Marking Equipment Mark-II.

Brigade Enterprises

The Bengaluru-based real estate developer has inked MoUs worth Rs 3,400 crore with the Tamil Nadu government to develop projects in the next 3-4 years as part of the Tamil Nadu Global Investors Meet 2024, Chennai.

Bajaj Finserv

The company's subsidiary, Bajaj Allianz General Insurance Company, recorded a Gross Direct Premium underwritten at Rs 1,425.1 crore for the month of December 2023.

Eicher Motors

Royal Enfield has inked a non-binding MoU with the Tamil Nadu government to invest Rs 3000 crore over 8 years to build greenfield and brownfield projects in the state as part of the Tamil Nadu Global Investors Meet 2024, Chennai.

Tata Communications

The company's board will consider the financial results for the third quarter on January 18, 2024.

Cipla

The pharma company has announced a joint venture in the US with Kemwell Biopharma and Manipal Education & Medical Group to make and commercialise novel cell therapy products for unmet medical needs in the US, Japan and the EU.

CG Power and Industrial Solutions

The company said it received a demand notice for Goods and Services Tax (GST) amounting to Rs 25.86 lakh.

Bajaj Auto

Bajaj Auto’s board on Monday approved share buyback of up to Rs 4,000 crore at Rs 10,000 per share through tender offer route. The share buyback represents 16.33% and 14.49% of the total paid-up equity share capital and free reserves (including securities premium account) as per the audited standalone financial statements and audited consolidated financial statements for the financial year ended on March 31, 2023.

Skipper

The company said its board has cleared a proposal to raise about Rs 199 crore through equity rights issue on partly-paid basis. The board has approved the rights issue of 1,02,67,021 equity shares having a face value of Rs 1 each to eligible shareholders on a partly-paid basis for an amount aggregating to Rs 1,991.80 million (Rs 199.18 crore). The company has set January 12 as the record date for the rights issue.

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