Stocks to Watch: Vodafone Idea, Vedanta, TVS Motor, Nestle India, LIC, SJVN

New Delhi: Following are the stocks that could be in focus on Tuesday:

Vodafone Idea: News reports claim that the government could sell its 33% stake in Vodafone Idea to tech-billionaire Elon Musk and his satellite internet venture Starlink collaborating with the carrier. Securities and Exchange Board of India (Sebi) has sought a clarification from India’s third-largest telecom service provider on the development.

Vedanta Ltd: The London-based parent of India’s Vedanta Ltd has received between 20% and 40% investor votes in favour of its $3.8 billion bond restructuring exercise as of 29 December. For the company’s proposal to go through, more than two-thirds of each bond’s investors need to vote, of which at least two-third votes need to be cast in favour of the restructuring.

TVS Motor: Has reported a 25% year-on-year rise in its December total dispatches to 301,898 units. Two-wheelers sales stood at 290,064 units in December, compared to 227,666 units sold in the same month last year.

Life Insurance Corp of India: Has received demand order of ₹806.3 crore for collection of GST along with interest and penalty for Maharashtra, from the Deputy Commissioner of State Tax, Mumbai. The order and penalty notice is for FY18, including GST of ₹365 crore and penalty of ₹404.77 crore.

Nestle India: Has received a tax demand of ₹46.4 crore under the CGST/SGST Act, and applicable interest, and a penalty amounting to ₹4.65 crore from the additional commissioner, Office of the Principal Commissioner, Central Goods & Services Tax & Central Excise Commissionerate, Chandigarh.

SJVN: The state-owned power producer has received the government’s approval to form four joint venture firms for developing hydro and renewable projects with a total capacity of 8,778 MW in India and Nepal. SJVN will be the leading partner in three joint venture companies, whereas SJVN’s wholly-owned subsidiary SJVN Green Energy Ltd will be the leading partner in the fourth JV.

Alembic Pharmaceuticals: Has received approval for various products, including Selexipag tablets, Rivaroxaban tablets, Dapsone gel, Bromfenac Ophthalmic Solution, Fluorouracil injection, Carmustine for injection, Acyclovir cream, and Osimertinib tablets, from the US Food and Drug Administration during the quarter ended December. 

Dhanlaxmi Bank: The lender's deposits grew 10.6% year-on-year to ₹14,310 crore, and gross advances rose 11.9% to ₹10,347 crore in Q3 FY24 (October-December). The gold loan segment registered a 28.36% growth at ₹2,675 crore, and CASA grew 5.69 percent on year to ₹4,459 crore during the quarter.

Power Grid Corp of India: Has been declared the successful bidder to set up an inter-state transmission system for evacuation of power from REZ in Rajasthan (20GW) under phase-III part D – phase I, on build, own operate and transfer (BOOT) basis.

G R Infraprojects: Has emerged as a successful bidder and has received a Letter of Intent for transmission system for evacuation of power from RE projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh- phase II, through tariff-based competitive bidding process, with annual transmission charges of ₹41.9 crore.