Home / Markets / Stock Markets /  Stocks to Watch: L&T, M&M, Tech Mahindra, Axis Bank

Here is the list of the top 10 stocks that are likely to be in focus on Tuesday:

Mahindra & Mahindra: Automaker M&M on Monday said it expects slowness in the commercial vehicle market to continue in the ongoing quarter of FY22 as uncertainties surrounding the Omicron variant of Covid-19 are keeping demand low. “We have always seen a V-shaped recovery when we come out of the pandemic," Veejay Nakra, CEO, Automotive Sector, M&M said, “First quarter next year is when we will probably start seeing good revival in the industry as people and goods movement starts happening".

Axis Bank: The bank has emerged as the frontrunner to buy Citi's consumer business in India, which is being valued at around $1.5 billion in a planned deal that's likely to happen this month, according to two sources with direct knowledge of the matter. Another Indian lender, Kotak Mahindra Bank is still in the race but has submitted a lower bid than Axis Bank so ranks second in Citi's order of preference, the sources told Reuters.

L&T: The heavy engineering arm of Larsen & Toubro has flagged off five critical renewable diesel reactors to North America’s largest renewable diesel producer Diamond Green Diesel (DGD), two weeks ahead of the delivery date. DGD is a joint venture of Darling Ingredients Inc. and Valero Energy Corporation in Texas, US. L&T is executing additional three such green diesel projects for the US and European clients at its fully integrated, state-of-the-art, digitally-enabled heavy engineering complex located at Hazira in Gujarat.

Tata Power: Tata Power Renewable Energy Limited (TPREL) on Monday said that it has commissioned two Solar Power projects of 50 MW each at Prayagraj, and Banda in Uttar Pradesh. The projects have been completed by TPREL, 100% subsidiary of Tata Power. The plants are expected to generate more than 221.26 million units annually.

Tech Mahindra: The IT giant on Monday announced the acquisition of 100% stake in Europe-based Com tec Co IT (CTC) for 310 million euros (approximately 2,628 crore), a deal which includes earnouts and synergy-linked payouts. In addition, the IT company has also announced the acquisition of 25% stake in two IT platforms – SWFT and Surance – for 20 million euros. SWFT and Surance are part of the same founding group as CTC.

NTPC: The state-owned firm plans to raise up to $750 million through external commercial borrowing (ECB) in the form of a term loan. According to a request for proposal (RFP), floated by NTPC, the amount raised will be utilised for capital expenditure for ongoing or new capacity addition programmes, including renewable energy projects, coal mining, and washeries. The proceeds of the term loan will also be used to refinance existing ECB or rupee loans availed domestically.

Shriram Transport Finance Company: The commercial vehicle financier, STFC, has partnered with Skill India to train 1,000 drivers to ensure seamless and accident-free transportation of oxygen tankers. With an objective to streamline the supply chain of liquid medical oxygen (LMO) tankers amid the pandemic, Shriram Transport Finance has launched a CSR initiative- Shriram Seva Sankalp LMO Driver Training.

HFCL Ltd: The company on Monday reported a consolidated net profit of 81 crore for the December quarter, down 5% over a year ago. It was 85.11 crore in the same quarter last year. The company's consolidated revenue stood at 1,215 crore, as compared to 1,277 crore in the third quarter of last year, a fall of 5%.

Tatva Chintan: The chemical manufacturing company on Monday reported a consolidated net profit of 22.8 crore for the three months ended 31, December, 2021 (Q3FY22), up 10% when compared with 20.8 crore clocked in the year-ago period. The company's revenue from operations surged 30% to 104 crore for the period under review. The same was 80 crore in the same period last year.

Angel One: Reported higher profit at 164.54 crore in Q3FY22 against 73.16 crore in Q3FY21, revenue surged to 597.3 crore from 306.79 crore YoY.

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