Stocks To Watch Today, July 13: NTPC, Adani Green Energy, L&T Finance, RITES, HDFC Bank

Mumbai, July 13: Investors in India on Monday will be tracking NTPC shares on Monday after the power producer received approval to set up a plant in Chhattisgarh. Adani Energy shares will be under spotlight after the company reported increase in operational capacity. Read on to know more. 

NTPC Gets Nod to Invest Rs 20,457 crore for Setting up Super Thermal Project in Chhattisgarh

India’s largest power producer NTPC has received board approval to invest Rs 20,456.7 crore to set up its Lara Super Thermal Power Project Stage-III of 1,600 MW in Chhattisgarh. 

This latest approval will take NTPC’s total thermal capacity at its Lara power plant complex to 4,320 MW, with the previous two stages also located at the same facility. The latest NTPC Board approval will enable it to move forward with detailed engineering preparation, land acquisition and recruitment drives as previously reported by the power producer earlier this year. 

As one of India’s largest generators of thermal power the state-run company continues to commission new coal-based power plants even while aggressively investing in renewable capacity. Investors will likely await further details on the timeline to commission the plant and its contribution towards NTPC’s capacity addition target for the current five-year plan period. 

Adani Green Energy Increases Operational Capacity By 27% YoY In Q1 

Operational capacity at Adani Green Energy climbed 27 per cent year-on-year to 20,142 MW during the quarter ended June 2023. 

With robust commissioning of solar and wind projects ongoing throughout the first half of FY27 the renewable energy company continues to benefit from meaningful growth to its total installed capacity. 

Sale of energy during the quarter increased 30 per cent year-on-year to 13,657 million units on the back of both an expanded installed base and stronger plant utilisation. 

India’s largest solar power producer by capacity also continues to benefit from a high level of under-reported projects that would eventually translate into further upside to capacity addition numbers. 

Investors will look for details on profitability during the quarter as well as the overall capacity addition pipeline and progress on projects currently under-construction when full results are published. 

L&T Finance Q1 Profit Grows 28.7% YoY To Rs 902.5 Crore 

Profit after tax at L&T Finance zoomed higher by 28.7 per cent year-on-year during the first quarter. 

Consolidated net profit during the quarter ended June rose to Rs 902.5 crore from Rs 701.1 crore during the year-ago period. 

Net interest income also increased by 28.4 per cent year-on-year during the quarter to Rs 2,924.8 crore from Rs 2,278.8 crore rupees in the year-ago period on the back of robust loan growth across L&T Finance retail-focused loan book. 

Investors will look for commentary on asset quality parameters, credit costs and loan growth expectations during commentary for the remainder of fiscal 2023. 

RITES Secures Rs 79.22-Crore Order From Patna Metro Rail Corporation 

State-run engineering consultancy RITES has secured an order worth Rs 79.22 crore from Patna Metro Rail Corporation Limited as part of a consortium. 

The work order will be used to fund consultancy services required during the implementation of the Patna Metro Rail Construction Project. 

While the state-run infrastructure engineering consultancy has participated in numerous metro rail projects over the years its total order book in the urban infrastructure and transportation sector has expanded significantly over the past year. 

Investors will look for further details on what work will be undertaken by RITES as part of the larger consortium as well as information on project timelines and what share of the overall order RITES Ltd accounts for moving forward. 

Sources

• bseindia.com
• nseindia.com
• PTI