UPL, PSP Projects, Aditya Birla Capital, Tata Power, JSW Steel, NLC India and more: Top stocks to watch out for on November 21

Aditya Birla Capital | The company said it has invested ₹100 crore in its wholly owned subsidiary, Aditya Birla Capital Digital Ltd (ABCDL), through a rights issue. The investment, completed on November 19, 2024, maintains ABCL’s 100% ownership in ABCDL. “…we wish to inform you that, Aditya Birla Capital Limited (the Company or ABCL) has made an investment of ₹100 crore (Rupees Hundred Crore Only) on rights basis, in the equity shares of Aditya Birla Capital Digital Ltd (ABCDL),” according to a stock exchange filing.

Tata Power | The company said it has entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC), a subsidiary of Druk Holding and Investments Ltd, the sole generation utility of Bhutan, to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan. “This is in keeping with Bhutan’s vision for its energy sector which is to take its overall generation capacity to 25,000 MW by 2040 for its energy security and regional energy integration,” according to a stock exchange filing.

JSW Steel | Steelmaker said it has been declared the “Preferred Bidder” for the Codli Mineral Block XII in Dharbandora, Goa, following a forward auction conducted on November 12, 2024. Goa’s Directorate of Mines & Geology made the announcement on November 18. “The company is declared as ‘Preferred Bidder’ with (the) highest final offer price at 92.60% of ‘value of mineral dispatched’,” a stock exchange filing read.

NLC India | State-owned company said its board of directors has approved key initiatives to expand its renewable energy portfolio and support subsidiary operations. In its meeting, the board granted in-principle approval to invest up to ₹3,720 crore in its wholly-owned subsidiary, NLC India Renewables Ltd (NIRL). This investment, to be made in tranches, will fund various renewable energy projects in Gujarat and Rajasthan, subject to regulatory approvals.

Garden Reach | Warship-maker signed a contract worth approximately ₹226.18 crore (excluding GST) with the Transport Department of the Government of West Bengal. The ferries will be operated on the River Hooghly by the West Bengal Transport Infrastructure Development Corporation Ltd (WBTIDCL). The agreement involves the design, construction, operation, and maintenance of 13 hybrid electric ferries under the West Bengal Inland Water Transport, Logistics and Spatial Development Project (WBIWTLSDP).

Dr Reddy’s | The company announced the completion of a Good Manufacturing Practices (GMP) inspection by the United States Food and Drug Administration (USFDA) at its Active Pharmaceutical Ingredient (API) manufacturing facility (CTO-2) in Bollaram, Hyderabad. “This is to inform you that the United States Food & Drug Administration (USFDA) today completed a GMP inspection at our API manufacturing facility (CTO-2) in Bollaram, Hyderabad,” according to a stock exchange filing.

Grasim Industries | The flagship company of the Aditya Birla Group said its new decorative paints business, Birla Opus, has commenced operations at its fourth plant in Chamarajanagar, Karnataka. Unveiled by Aditya Birla Group Chairman Kumar Mangalam Birla, the state-of-the-art, fully automated plant boosts the company’s production capacity to 866 million litres per annum (MLPA), making Birla Opus the second-largest decorative paints manufacturer in India by installed capacity.

Godfrey Phillips | Cigarette maker said its board of directors has declared an interim dividend of 1,750% i.e. ₹35 per equity share of ₹2 each, for the financial year ending March 31, 2025. The record date for the purpose of determining the entitlement of the shareholders for the interim dividend has been fixed as Friday, 29th November 2024, and the dividend amount will be paid to those shareholders within 30 days from today.

GNFC | The company said it has signed a memorandum of understanding (MoU) with INEOS Acetyls International Ltd, UK, to explore the feasibility of building a world-scale, 600kt acetic acid plant at GNFC’s site in Bharuch, Gujarat, India. INEOS Acetyls is a leading producer of acetic acid globally and GNFC is the only current producer of acetic acid in India.

Wipro | IT major announced a strategic collaboration with Lineaje, a US-based software supply chain security firm, to enhance the security of open-source components in enterprise software applications. This partnership follows an investment in Lineaje by Wipro Ventures, the corporate investment arm of Wipro. The collaboration aims to address growing cybersecurity concerns by leveraging Lineaje’s expertise in securing software supply chains.

Godrej Properties | The Mumbai-based real estate developer, has informed the exchanges that it has acquired a 53 acre land parcel in Joka, Kolkata. The proposed project has an estimated revenue potential of ₹500 crore. This project is estimated to have a development potential of 1.3 million square feet of saleable area comprising primarily residential plotted development. The land is strategically located in the fast-developing micro-market of Joka, which is close to the main city and in proximity to Diamond Harbour, a well-known seaside weekend getaway, as per the company.

SECI | The company under the Ministry of New and Renewable Energy, has signed a memorandum of understanding (MoU) with Germany’s H2Global Stiftung to strengthen collaboration on Green Hydrogen initiatives. The agreement, signed on November 19, 2024 by SECI’s Director (Solar), Sanjay Sharma, and H2Global’s Executive Director, Dr Susana Moreira, aims to bolster knowledge exchange on market mechanisms and foster cooperation between India and hydrogen-importing nations.