Market Commentary - Stock Alert
Bharti Airtel, Power Grid, Eicher Motors, SRF in focus As on : 02-Jan-24  08:56

Bharti Airtel: As a part of group restructuring, Bharti Airtel Services Limited, a wholly-owned subsidiary company of Bharti Airtel Limited has entered into an agreement for acquisition of 49,45,239 equity shares representing 97.1% stake in another Bharti Group company, Beetel Teletech Limited, which also has 49% stake in Joint Venture having two manufacturing facilities which produce telecom and networking products including those qualifying for Production Linked Incentive (PLI) Scheme.

Power Grid Corporation of India: The company has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System for ?Transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part D ? Phase I? on Build, Own Operate and Transfer (BOOT) basis.

Eicher Motors: The auto maker?s total motorcycles (Royal Enfield) sales declined 7% to 63,387 units in December 2023 as against 68,400 units sold in December 2022.

TVS Motor Company: The company recorded monthly sales of 301,898 units in December 2023 with a growth of 25% as against 242,012 units in the month of December 2022.

Life Insurance Corporation of India (LIC): LIC has received communication/ demand order for collection of GST along with interest and penalty for Maharashtra state. The demand order cum penalty notice is for FY2017?18, including GST of Rs 365.02 crore, penalty of Rs 404.77 crore and interest of Rs 36.50 crore.

SRF: The company had incorporated SRF Altech, a wholly owned subsidiary, to set up the manufacturing facility for the manufacture of aluminum foil. SRF informed that the facility has been commissioned and capitalized on 1 January 2024 at an aggregate cost of Rs. 536 crores (approx).

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