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From a Rs 9,500 crore EV battery expansion to a 25-year power supply agreement and a strategic finance acquisition, these three stocks could remain in the spotlight on Thursday's trading session.
✨ Key Takeaways
Indian benchmark indices ended marginally higher on Wednesday, July 15, supported by buying in financial stocks as the June quarter earnings season gathered pace. Softer-than-expected US inflation data improved global risk sentiment and lifted Asian markets. However, concerns over rising geopolitical tensions in the Middle East and firm crude oil prices kept investors cautious.
The Nifty 50 opened nearly 50 points higher at 24,085.85 and touched an Intraday high of 24,220.35. Profit booking in the second half of the session erased most of the gains before the index recovered towards the close. The benchmark settled at 24,078.50, up 26.45 points, or 0.11 per cent. The Sensex also ended in the green, gaining 130.49 points, or 0.17 per cent, to close at 77,185.43.
Against this backdrop, here are three stocks that are likely to remain in focus during Thursday's trading session.
1. Amara Raja Energy & Mobility Ltd
Amara Raja Energy & Mobility Ltd announced the commissioning of its Customer Qualification Plant (CQP) at the company's Giga Corridor in Telangana. The company has invested around Rs 500 crore in the facility, which forms part of its broader Rs 9,500 crore, 16 GWh Gigafactory programme. The plant will manufacture lithium-ion cells in cylindrical and prismatic formats across multiple chemistries for qualification and approval by original equipment manufacturers (OEMs).
Amara Raja said commercial-scale cell production is expected to begin within the next year, while 2 GWh of manufacturing capacity remains on track for calendar year 2027.
Adani Power Ltd signed a 25-year Power Supply Agreement (PSA) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to supply 1,600 MW of electricity on a long-term basis. The power will be generated from a new 2x800 MW ultra-supercritical thermal power plant that will be developed under the Design, Build, Finance, Own and Operate (DBFOO) model.
The company said the coal linkage for the project has already been allocated under the Government of India's SHAKTI policy. The long-term agreement is expected to strengthen Adani Power's generation portfolio and provide stable revenue visibility over the contract period.
TVS Holdings Ltd said its subsidiary, Home Credit India Finance Pvt Ltd, has signed a Share Purchase Agreement to acquire 100 per cent of the equity share capital of Varthana Finance Pvt Ltd. Following the completion of the transaction, Varthana Finance will become a wholly owned subsidiary of Home Credit India Finance and a step-down wholly owned subsidiary of TVS Holdings.
The acquisition aligns with the group's long-term strategy of expanding its financial services business. By adding Varthana's education finance franchise, TVS Holdings aims to strengthen its presence in secured and longer-tenure lending while expanding its reach across customer segments.
Disclaimer: The article is for informational purposes only and not investment advice.
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