Wipro, BEML, Bajaj Finserv, HAL, Kirloskar Electric, PTC India

Stocks to watch in trade for September 7: Wipro, BEML, Bajaj Finserv, HAL, Kirloskar Electric, PTC India.

BEML:

This is the last day to buy shares of the split entity, BEML Land Assets, which will be listed on the stock exchange. The equity issuance ratio is 1:1 and the new entity will own BEML’s non-core land assets. Antique Stock Broking values ​​the land reserve at Rs 640/share (36% of the value).

Bajaj Finserv

Bajaj Alliance Life Insurance’s total new business premium in August stood at Rs 669 cr from Rs 896 cr, down 25% MoM. From April to August, New Business Premium stood at Rs 4,482 cr against Rs 3,812 cr, up 17.5% MoM

Wipro

Wipro and Palo Alto Networks Expand Alliance to Deliver Managed Security and Network Transformation

HAL

Gas turbines supplied by HAL power recently commissioned INS Vikrant

Zuari Industries

Signature of an agreement with Envien for a biofuel distillery. The companies will establish a 50/50 joint venture and plan to operate a 150 kilolitre/day ethanol distillery

Oil Trust

To issue 2 crore warrants to the promoter group and other entities. Quant Mutual Fund is one of the parties to whom warrants will be issued. Although the issue price is yet to be announced, at CMP the fundraising could be around Rs 155 crore.

Globus Spirits

Commencement of commercial operations of Jharkhand plant.

Interglobe Aviation

Mr. Petrus Johannes Theodorus Elbers joins as CEO of the company on September 6, 2022

Salasar Techno Engineering

Set the issue price for the sale of shares at Rs 27.3/share

Electric Kirloskar

Recall of all workers who were laid off in a unit located in Hirehalli, Tumkur with immediate effect

Paras Defense & Space Technologies

Conclusion of an exclusive association agreement with ‘ELDIS Pardubice’ sro, Czech Republic, to supply turnkey anti-drone systems to civil airports in India.

Mazagon Dock Shipbuilders

The company says that the launch of the third ship of the Frigate project “Taragiri” is scheduled for September 11, 2022 at Mazagon Dock Shipbuilders Ltd, Mumbai.

TPC India

Specifies that no negotiations related to the establishment of a factory in Nepal have taken place with any entity

City Gas Distributors (CGD), ONGC, Oil India, RIL and Vedanta

Indian panel to review gas pricing formula to tame inflation

The panel must submit its report by the end of this month, according to the order.

A government source said the panel’s recommendations will not be taken into account in the next half-yearly review of local gas prices from October as cabinet approval is required for implementation.

Negative for CGDs; they are unlikely to be able to pass on the full impact to consumers

Positive for ONGC, Oil India, RIL and Vedanta as they would benefit from higher gas prices, provided the government does not impose a windfall tax

Websol Energy Systems, Tata Power

Govt Should Relax Solar Module Sourcing Standards

Solar power project developers can freely source solar modules from anywhere including China

Positive for solar power project developers – Tata Power, Adani Green, Sterling Wilson and Solar

Negative for solar module and component manufacturers – Websol Energy System, Adani Solar, BHEL, Tata Power Solar, BHEL, HBL Power Systems.

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