Market Commentary - Stock Alert
Power Grid, Thermax, TVS Motor in focus As on : 02-Aug-23  08:24

Power Grid Corporation of India: The board of directors of the company accorded Investment Approval for implementation of ?85 MW Solar PV Power Project at Nagda (M.P.)? at an estimated cost of Rs 554.91 crore with an implementation schedule of 10 months from the date of award and O&M phase of 05 years for Solar Plant.

Thermax: The company reported consolidated net profit of Rs 60 crore in Q1 FY 2024, slightly higher from net profit of Rs 59 crore related in Q1 FY 2023. Revenue surged to Rs 1933 crore from Rs 1654 crore. PAT is impacted due to exceptional item of provision related to litigation of Rs. 51 crore.

Hero MotoCorp: Hero MotoCorp sold 3,91,310 units in July 2023, lower than 445,580 units sold in July 2022.

Hero MotoCorp said that officials from the Enforcement Directorate yesterday visited two of offices in Delhi and Gurugram and the residence of Executive Chairman Pawan Munjal. We continue to extend all cooperation to the agency.

TVS Motor Company: The company registered a sales growth of 4% increasing from 314,639 units in July 2022 to 325,977 units in July 2023.

Ashok Leyland: The company's total sales rose 11% to 15,068 units in July 2023 from 13,625 units sold in July 2022.

Som Distilleries and Breweries: The company got the approval to supply Indian Made Foreign Liquor (IMFL) brands in Rajasthan.

Sterling and Wilson Renewable Energy: The company has received a Limited Notice to proceed for an Engineering, Construction and Procurement, order for a value of approx. Rs 360 crore for a project in India.

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