Latest Updates on IRFC, HAL, ONGC, Tata Power, and Motherson Sumi

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1 year ago

Updates on the Key Indian Stocks: IRFC, HAL, ONGC, Tata Power and Motherson Sumi The Indian stock market seems to have something interesting going on for it on 10th November 2024. Lets get straight into the most recent news around some of the Indian stocks pertaining to the areas of the defense sector, the energy market and technology industry. Here is what you need to know when dealing in shares like Hindustan Aeronautics Limited, TATA Power, Ongc, Motherson Sumi etc. Major Defense Contract Awarded to Hindustan Aeronautics Limited(HAL) Indian Air Force awarded the contract, and the announcement was made on 8th November 2024 by HAL, making headlines. The contract is centered around enhancing the operational capability of Dornier 228 aircraft through modification. HAL has positioned this contract as firstly a great forward step towards achieving the self reliant goals for the Indian defense industries as articulated in the broader Atma Nirbhar Bharat initiative. Even though Hal shares have witnessed a decrease and closed at 380.21 rupees, such defense contracts forms a positive catalyst for the growth of the company in the analysts’ views. As for the stock movement in the market, it is advised that the audience should wait for their upcoming quarterly results on November 14 and them make an investment. JTL Industries Limited Schedules a 1:2 Split on its Shares According to sources, the risk management department is reporting that JTL Industrie, a moderate-risk company, has approved a stock split of one JTL share into Two with the ex-date being November 14, 2024. This implies that the shareholder who previously held one JTL share would now hold two shares after the above split and this further means an increase in the volume of shares twofold. However, it is advised not only to consider the split ratio of stock in the evaluation but rather decide after deep analysis of the company’s fundamentals. Tata Power Impressive Investments in Renewable Energy Tata Power, in its latest news, has far reaching plans for the installation of wind and solar plants, with the aim being to supply to Noida International Airport and it has been assured with a contract worth over ₹550 crore. This project aims to enhance the renewable energy portfolio of Noida international airport which after the announcement, many in the sector are hopeful of a market rally with subsequent announcements in the near future. Tata Power, however, came under pressure at the 450 target, but today it has solid support in the 420-425 range. However, looking at the long term, Tata Power is a firm to focus on. Motherson Sumi: Key investment and expected results Recently, Motherson Sumi, through its subsidiary, Wiring Harness, has released positive results and is expected to release its quarterly results on November 12, 2024. Motherson Sumi has witnessed substantial institutional purchases with only Foreign and Domestic Institutional Investors increasing their stakes in the recent quarters. Motherson Sumi, however, may have had some recent sell-off of shares but it appears that there are significant support levels in the region of ₹170 to ₹175 which may have interested investors watching out for. Dividend Announcement by the Indian Railway Finance Corporation (IRFC) On ex-date November 12, 2024, the Indian Railway Payroll Finance Corporation has issued an interim dividend of eighty paise for its shareholders. The recent quarterly result of this significant player in the financing of Indian railways was reasonably good where the stock value of IRFC faced headwinds as other railway stocks in the sector. Indian Railway Finance Corporation of up to ₹145 appears to be a robust level of support that could be watched for pullbacks in the stock. ONGC Dividend and earnings announcement Oil and Natural Gas Corporation, which is a contender of nifty 50 and a market leader in the energy sector is scheduled to publish its quarterly earnings on November 11, 2024. ONGC has been known in the market for their outstanding dividend yields and is anticipated to continue the trend even in future. ONGC had a more or less balanced performance in the more recent deal; nevertheless, the company remains a good long-term investment with a delivery of 52.45% according to the last trading day.

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.