Stocks to Watch: Reliance Industries, Bharti Airtel, Spandana Sphoorty, JSW Energy, Ashoka Buildcon and more

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Reliance Industries | Jio launches 5G services in 11 cities across India, includinLucknow, Trivandrum, Myrusu, Nashik, Aurangabad & Chandigarh Tricity.

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Bharti Airtel | A report in Mint suggests that the company is considering raising tariffs across India by February after seeing lower than anticipated churn after raising the lowest prepaid tariffs by Rs 56 in Odisha and Haryana. Another report in the Economic Times indicates that the company is planning to list Airtel Payments Bank, which has already turned profitable and growing in healthy double digits.

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Spandana Sphoorty | Approves transfer of stressed loan portfolio, including written-off loans worth Rs 323.08 crore as of September 30, 2022 to an Asset Reconstruction Company for a total consideration of Rs 95 crore via the Swiss Challenge Method.

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JSW Energy | Completes acquisition of Ind-Barath Energy (Utkal) Ltd. for a resolution amount of Rs 1,047.60 crore. The company now holds 95 percent of the shares while secured financial creditors hold the remaining portion. Ind-Barath Energy (Utkal) Ltd. is implementing a 700 MW thermal power plant in Odisha.

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Ashoka Buildcon | Awarded projects worth Rs 754.57 crore from the Madhya Pradesh PoorvKshetra Vidyut Vitaran Company for supply, installation, testing and commissioning of new 11 KV lines in the Balaghat, Satna and Rewa circles.

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Tata Power | Tata Power Renewable Energy Ltd. gets Letter of Award (LoA) to set up a 255 MW hybrid project for Tata Power Delhi Distribution Ltd. - a joint venture of Tata Power and the Delhi government. The project will be commissioned within 24 months from the execution date of the Power Purchase Agreement (PPA). The total renewables capacity of TPREL now stands at 6,048 MW, with an installed capacity of 3,884 MW and 2,164 MW under various stages of implementation.

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Kanoria Chemicals | Commercial production at the Phenolic Resin plant in Ankleshwar, Gujarat will begin from January 1, 2023. The plant has an overall capacity of 6,500 MTPA.

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NACL Industries | The greenfield project of its wholly-owned subsidiary with a capacity of 6,000 MTPA has commenced commercial operations.

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Coal India | Coal Ministry has identified four more blocks to enhance production of domestic coking coal. The Central Mine Planning and Design Institute will finalise the geological report for 4-6 new coking coal blocks in the coming months. The blocks will then be offered in the subsequent auction rounds to the private sector.

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Coromandel International | Incorporates wholly-owned subsidiary under the name Coromandel Technology Ltd., which will be involved in the design, development and manufacture of Unmanned Aerial Vehicles (UAV) and UAV mapping services and other services.