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Amid improving sentiment, IHCL, Tilaknagar Industries and HFCL are expected to remain in focus following key business developments.
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Indian equity benchmark indices extended gains for the second consecutive session on Thursday, May 14, with the Sensex and Nifty 50 closing over 1 per cent higher amid steady corporate earnings and optimism surrounding improving U.S.-China trade relations.
However, rising crude oil prices and continued foreign fund outflows kept investor sentiment cautious as the Indian rupee slipped to another record low against the U.S. dollar.
Amid improving market sentiment, several stocks are likely to remain in focus during Friday’s trading session.
Indian Hotels Company Ltd announced the signing of a new resort project in South Goa near Colva Beach. The greenfield project will be developed under the company’s Gateway brand.
The company said Goa remains one of India’s leading tourism destinations, known for its beaches, heritage architecture, cuisine and cultural appeal.
With the addition of the proposed resort, IHCL’s portfolio in Goa will expand to 25 hotels, including seven properties currently under development.
Tilaknagar Industries Ltd said its wholly-owned subsidiary, Prag Distillery Pvt Ltd, has received approvals from the Andhra Pradesh government to commence production at its expanded facility.
Following the expansion, the bottling capacity at the unit will increase from 6 lakh cases per annum to 36 lakh cases per annum, representing a six-fold rise.
The company had earlier approved an investment of Rs 59 crore towards the expansion project, including licence fees and interest payments of nearly Rs 34 crore. Tilaknagar Industries said the enhanced facility will be capable of meeting nearly 50 per cent of its volume requirements in Andhra Pradesh.
3. HFCL Ltd
HFCL Ltd said its Board of Directors has approved the establishment of a Defence manufacturing facility in Andhra Pradesh for the production of Multi-Mode Hand Grenades and related products.
The proposed facility will be set up in Sri Satya Sai district with an initial capital outlay of around Rs 230 crore.
The company said the project is part of its long-term strategy to expand into high-value defence manufacturing and aligns with India’s broader push for self-Reliance in defence production under the Aatmanirbhar Bharat initiative.
Disclaimer: The article is for informational purposes only and not investment advice.