Stocks in Focus: Power Mech, Highway Infra, and Others

The GIFT Nifty futures, which is an early indicator of the Nifty50 index stocks, was trading higher by 35 points at 26,002.50, indicating that the domestic benchmark indices are likely to make a positive start on Friday. 

Earlier on Thursday, 8 January, Domestic benchmark indices S&P BSE Sensex slipped by 780 points or 0.92%, and settled at 84,181 while the Nifty50 traded 1.01% lower or 264 points, closing at 25,876.

Here are some stocks that are likely to remain in focus on 9 January.

Power Mech Projects: Power Mech Projects’ subsidiary, PM Green Private Ltd, received a major order from WBSEDCL to develop a 250 MW / 1,000 MWh standalone battery energy storage system at Goaltore, West Bengal, under a build-own-operate model with a 100% power offtake guarantee.

Highway Infrastructure: Highway Infrastructure won a Rs 328 crore contract from NHAI to operate and collect user fees at the Kaza Fee Plaza on the Chilakaluripet–Vijayawada stretch of National Highway-16 in Andhra Pradesh.

Bajaj Finserv: Bajaj Finserv, along with Bajaj Holdings & Investment Ltd and Jamnalal Sons Pvt Ltd, completed the acquisition of a 23% stake in Bajaj General Insurance and Bajaj Life Insurance from Allianz SE for Rs 12,190 crore and Rs 9,200 crore, respectively.

Bharat Forge: Bharat Forge signed an MoU with Germany-based Agile Robots SE to explore a strategic partnership in AI-driven robotics and intelligent industrial automation, combining Bharat Forge’s industrial expertise with Agile Robots’ advanced automation technologies.

Bharat Electronics: Bharat Electronics won fresh orders worth Rs 596 crore since January 1, including contracts for drone detection and jamming systems, mobile communication terminals, software solutions, upgrades, spares, and services.

Astra Microwave: Astra Rafael Comsys, a joint venture between Astra Microwave Products and Israel’s Rafael Advanced Defence Systems, secured a Rs 275.27 crore order from the Indian Air Force. The contract covers software integration and installation on MiG-29 aircraft, network-centric applications, and the supply of 24 software-defined radios for the LCA Mk-1A.

Waaree Renewable Technologies: Waaree Renewable Technologies received a Letter of Award for a revised project size of 704 MWac / 1,000 MWp. The company reduced the commercial order value to Rs 1,039.60 crore from Rs 1,252.43 crore, reflecting a cut of Rs 212.83 crore, while keeping all other project terms unchanged.

Rail Vikas Nigam: Rail Vikas Nigam secured a Letter of Acceptance from East Coast Railway to build a wagon Periodical Overhaul (POH) workshop with a capacity of 200 wagons at Kantabanji. The project cost stands at Rs 201.2 crore.

Morepen Laboratories: The Himachal Pradesh High Court stayed a Rs 118 crore tax demand raised through a Show Cause Notice issued by the Central GST and Central Excise Commissionerate, Shimla.

BHEL: BHEL bagged a Rs 5,400 crore order from Bharat Coal Gasification and Chemicals Ltd for the coal gasification and raw syngas cleaning plant under the LSTK-1 package at its coal-to-2,000 TPD ammonium nitrate project in Lakhanpur, Odisha.

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