*Stocks in the news*
Siemens: The company has received an order for 1,200 locomotives of 9,000 horsepower (HP) from Indian Railways, marking the single largest order in the history of Siemens in India. It will design, manufacture, commission and test the locomotives. Deliveries are planned over an eleven-year period, and the contract includes 35 years of full service maintenance. The locomotives will be assembled in the Indian Railways factory in Dahod, Gujarat. The contract has a total value of Rs 26,000 crore.
NTPC: Government of Tripura has signed Memorandum of Understanding with NTPC Renewable Energy. The company in collaboration will develop large sized renewable energy projects in Tripura.
IRB InvIT Fund: The company has recommenced toll collection at toll plazas of IRB Pathankot Amritsar Toll Road, one of its project SPVs (special purpose vehicle). The toll collection by the said SPV temporarily suspended last month. The project SPV is eligible for compensation against the revenue loss under Force Majeure provisions of the Concession Agreement.
Kesoram Industries: The company has posted consolidated loss of Rs 48 crore for quarter ended December FY23, widening from loss of Rs 32 crore in same period last year, impacted by higher input cost, power & fuel expenses and exceptional loss. But consolidated revenue from operations increased 12.6 percent YoY to Rs 986 crore for the quarter. Its majority of business comes from cement segment.
Ashoka Buildcon: Ashoka Kandi Ramsanpalle Road, the special purpose vehicle (SPV) of the company, has received a provisional certificate for completion of 37.92 KMs out of total project highway length of 39.980 KMs in Telangana. Also the company informed the declaration of Novemer 19, 2022 as the commercial operational date for the said HAM project of NHAI under Bharatmala Pariyojna on hybrid annuity mode. After the declaration of commercial operational date, the SPV is eligible for receipt of annuity payments from NHAI for the operation period of 15 years at the interval of every 6 months from the date of achievement of commercial operational date.
Tinplate Company of India: The tinplate manufacturer and Tata Steel subsidiary has recorded a 62 percent year-on-year decline in profit at Rs 36.4 crore for quarter ended December FY23, impacted by lower top line and operating income. Revenue from operations for the quarter at Rs 959.9 crore fell by nearly 19 percent compared to year-ago period.
*Results on January 17*
Bank of India, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company, Delta Corp, Eris Lifesciences, Hathway Cable & Datacom, Mastek, Metro Brands, Network18 Media & Investments, TV18 Broadcast, Newgen Software Technologies, Shalby, Tata Investment Corporation, and Tata Metaliks will be in focus ahead of quarterly earnings on January 17.
By: via Allies Fin Serve Stock Market
