Stocks to watch: Maruti Suzuki, IREDA, ONGC, BHEL, Waaree Energies among shares in focus today

Here’s a quick look at stocks likely to be in focus in today's trade.

Maruti Suzuki

The automobile company has received a draft assessment order from the Income Tax Authority for FY22, proposing certain additions and disallowances totaling ₹2,966 crore to the income reported in its tax return.

NCC

The company has secured two advance work orders totaling ₹10,804.6 crore from Bharat Sanchar Nigam for designing, supplying, constructing, installing, upgrading, operating, and maintaining the middle-mile network of BharatNet in the Uttarakhand Telecom Circle, as well as in the Madhya Pradesh, DNH, and DD telecom circles.

Welspun Enterprises

Welspun Michigan Engineers, a subsidiary of the company, in partnership with Aaradhyaa & Co., has won a ₹328.12 crore contract from Brihanmumbai Municipal Corporation (BMC) for upgrading the Haji Ali Storm Water Pumping Station in Mumbai, Maharashtra. The project also includes a 15-year operations and maintenance period.

IREDA

State-owned IREDA announced on Tuesday that it has secured ₹910 crore through bond issuance. The raised funds will strengthen IREDA's Tier-II capital, boosting its net worth and improving its capital-to-risk-weighted assets ratio.

Federal Bank

Federal Bank is set to acquire a 4% stake in Ageas Federal Life Insurance for approximately ₹97.4 crore, purchasing 3.2 crore shares.

TVS Motor

TVS Motor's subsidiary, TVS Motor (Singapore), plans to acquire an additional 8.26% stake in GO Corporation, Switzerland, for CHF 500,000.

ONGC

The company plans to invest ₹3,300 crore in its subsidiary, ONGC Green, through a rights issue. The funds will be used to acquire a 100% equity stake in Ayana Renewable Power via ONGC NTPC Green (ONGPL), a 50:50 joint venture between ONGC Green and NTPC Green Energy.

Additionally, the company's subsidiary, ONGC Videsh, will invest up to ₹1,500 crore in Beas Rovuma Energy Mozambique. ONGC Videsh holds a 60% stake in Beas Rovuma Energy Mozambique, with Oil India as the joint venture partner.

Brainbees Solutions (FirstCry)

The Board has approved a fund infusion of up to ₹146 crore in Globalbees Brands through the subscription of Compulsory Convertible Preference Shares and AED 9 million (approximately ₹20.98 crore) in Firstcry Management DWC LLC, UAE, via equity shares. Both entities are subsidiaries of the company.

BHEL

BHEL has renewed its Technology Collaboration Agreement (TCA) with Vogt Power International Inc., USA, for heat recovery steam generators.

Granules India

The Board has approved an internal restructuring plan involving its wholly owned subsidiaries in the USA. As part of this process, Granules USA, Inc., a subsidiary of the company, will transfer its business and most of its net assets to Granules Pharmaceutical, Inc. (GPI). This restructuring will not affect the ultimate ownership of the company's subsidiaries or alter the nature of its business operations in the US. The plan aims to streamline the number of legal entities, simplify legal, tax, and operational structures, establish a unified holding framework, and enhance market focus.

Waaree Energies

Waaree Energies is set to inaugurate its 5.4 GW solar cell manufacturing facility in Chikhli, Navsari, Gujarat, on March 29.

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