Stocks to watch: Maruti, Future Retail, Coal India, NTPC

Maruti Suzuki: India’s largest carmaker Maruti Suzuki has flagged off the impact of chip shortage on vehicle production at two of its manufacturing units in the country. Due to the lack of supply of electronic components due to the ongoing semiconductor shortage situation, vehicle production may be only around 80% to 85% of normal production.

Future Retail: Lenders to Future Retail Ltd are planning to discuss allegations of financial irregularities against the retailer and may initiate a forensic audit of the company’s books, two people aware of the development said. In a letter dated November 24 to the Ministry of Finance and the Reserve Bank of India, Future Group partner Amazon.com Inc. alleges alleged fund diversion at Future Retail, involving approximately $1 billion in improper related-party transactions; Sudden jump in Future Retail’s debt; and inordinate delay in payment to creditors due to discrimination by promoters.

NTPC: State-owned power company NTPC said the 250 MW unit-4 of its Nabinagar power plant will start commercial from Wednesday midnight. “Unit-4 of 250 MW capacity of Nabinagar Thermal Power Project (4X250 MW) of Bhartiya Rail Bijli Company Limited (a subsidiary of NTPC Limited) has been declared on commercial operation with effect from 00:00 hrs of 1st December, 2021, As per BSE filing. This will take NTPC Group’s commercial capacity to 67,907.5 MW (MW).

Coal India: Public Sector Coal India Limited (CIL) Investment Plan 19,650 crore by FY24 to increase coal transport capacity to 330 million tonnes (MT) by building rail links and setting up joint ventures (JVs). The rail mobility drama of the world’s largest coal miner comes against a backdrop of coal shortages that have raised concerns. However, the situation has improved with sufficient fuel stock for nine days in 136 coal-fired power projects totaling 166.109 giga watt (GW). Coal India shares jumped in early deals on Tuesday after miners in a regulatory filing on Monday that the board at its meeting approved the payment of interim dividend for FY22 9 per share of the face value of as opposed to 10 7.5 per share declared last year.

Rail Development Corporation: The company signed a Memorandum of Understanding with the Economic Policy Research Institute of the Government of Kyrgyz Republic, Kyrgyz Republic, for the development of railway corridor projects in the Kyrgyz Republic, especially to connect Bishkek to Karachechenskoye.

NMDC: State-owned mining company NMDC cut one-time ore prices by how much on Tuesday? 750 per ton and fine 200 per tonne, with immediate effect. In a regulatory filing, the company said it has revised the rates of lump sum ore or high grade ore 5,200 per tonne. Whereas the cost of lump sum ore or low grade ore is fixed at 4,560 per tonne.

Yes Bank: The Supreme Court on Tuesday quashed the Noida Police’s direction restraining Yes Bank Ltd from exercising its rights over its shares in Dish TV India Ltd and stayed the police investigation, saying that such actions could have “dangerous consequences”. The order allows Yes Bank, the largest shareholder of the satellite-TV provider with a 25.63% stake, to continue its now-over two-month battle to restructure the board on Dish TV.

Torrent Pharma: Shares of Torrent Pharmaceuticals Ltd have gained over 10% in the past one week. Renewed investor confidence is driven by expectations of a stronger growth trajectory in the domestic market, which has prompted analysts at Credit Suisse to upgrade the stock from “underperform” to “outperform.” The company’s performance in the September quarter was below expectations.

axis Bank: Private lender Axis Bank has received approval from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to reclassify four insurers from promoter category to public shareholders. “We would like to inform you that BSE and NSE vide their respective letters dated November 30, 2021, have given their approval for the reclassification of the above promoters from “Promoter” category to “Public” category, Axis Bank said in a filing. has given.”

Zomato: After committing $1 billion to invest in startups, food delivery company Zomato on Tuesday unveiled Zomato Wings, a platform to help restaurants raise investments. Zomato said it will facilitate fundraising for its partner restaurants by helping them position their story and metrics and connecting them to investors. However, Zomato itself will not invest in the restaurant brand.