Indian equity market has a lot to offer on November 10, 2024. Let’s get deeper into some of the recent changes regarding some of the major Indian companies in the sectors of defence, energy, and technology. Here is what you need to know about shares such as Hindustan Aeronautics Limited (HAL), Tata Power, ONGC, Motherson Sumi and so on.
- HAL Hindustan Aeronautics Limited Major Defence Deal Awarded
November 8, 2024 was a day to remember for HAL, as the Company earned a breakthrough contract involving Indian Air Force. The agreement primarily focuses on the retrofitment of Dornier 228 aircraft to enhance their operational capability. HAL has negated the view that this contract is one more step towards assisting the nation’s goals of increasing self-reliance in the area of defence, a step in same direction with Aatmanirbhar Bharat initiative. As encouraging for a defense contract, which US analysts predicted would limit production from A Dismal Ending Weaker timeframe for economic rationalization, the stocks slumbered on a scoff, which stood at (-0.65)% in exchange to Rs 380.21
The expectations of the quarterly results to be provided on 14th November 2024 stand high and that the investors should take this announcement into account, because it can make the stocks volatile.
- JTL Industries Limited Announces 1:2 Stock Split
It should be recalled that the company itself is classified as a moderate risk. The company JTL Industries Limited has announced the ex-date of a 1:2 stock split to be November 14, 2024. In other words, shareholders who were in possession of one JTL share will now have two in their possession post the split, thus increasing the number of their holdings two fold. Investors are however cautioned to look into the companies fundamentals before making decisions that are based solely on the stock split.
- Tata Power’s Major Investment in Renewable Energy
In the latest developments, Tata Power has won a substantial bid to develop wind and solar energy for Noida International Airport for a total cost of ₹550 crore. This project shows the distinct focus of Tata Power on increasing its Renewable Energy portfolio, and the market analysts are hopeful that there programmatic bullish impact following this declaration. Despite this, Tata Power’s stock has been capped at ₹450 while it has a robust resistance at ₹420 to ₹425. For long-term investors, Tata Power continues to be a strong hold.
- Motherson Sumi: Key Investment and Upcoming Results
Motherson Sumi has been one of the stocks benefiting from institutional buying through its Wiring Harness subsidiary last quarter on November 12, 2024. That said Motherson Sumi also has support levels just below ₹170 and this can be investigated further. Investors seek to put Motherson Sumi on the watch list as they plan to release their quarterly earnings in the foreseen future.
- Upcoming IPOs and Grey Market Premiums
There are many more anticipated Ipo’s for a few target companies that are expected to reflect on the premium IPO market. IPOs like NTPC Green and Ross Meta Digital Services are anticipated to start selling soon. The company Sool Solar on the other hand is expected to start at a discount.
- Indian Railway Finance Corporation (IRFC) Announcement of Dividend
IRFC has declared an interim dividend of 80 paise in fully paid equity share to those shareholders who would hold the stock till the ex-date, November 12, 2024. IRFC recently reported quarterly results which were within expectations-the stock has been under pressure because of performances of other railway stocks. Investors are sanguine about bounces, as heavy base exists at ₹145 levels.
- Oil and Natural Gas Corporation (ONGC) Announcement of Dividend and Earnings
ONGC, being one of the top energy companies in India as well as Nifty 50 company, is due its quarterly earnings’ announcement on November 11, 2024. ONGC has been reputed for good dividend yield, and it is projected to continue the streak. ONGC has had a mixed performance in the last few months but it’s a good long term stock to hold with the delivery percentage rule still sitting at 52.45% as per the last trading day.
