Stocks to Watch Today, Tuesday, July 28: Tata Power, Adani Energy Solutions, Welspun Corp, TVS Motor, Usha Martin

Mumbai, July 27:  Five stocks are in focus on Tuesday, from Tata Power posting an 11 per cent jump in June-quarter profit to Adani Energy Solutions launching a Rs 3,500 crore share sale. Here’s what’s driving each stock and what to track through the day. 

Tata Power (TATAPOWER): Consolidated profit rises 11% to Rs 1,176 crore on higher revenue, record capex  

Consolidated net profit attributable to owners of Tata Power rose 11 per cent year on year to Rs 1,175.93 crore for the June quarter ended June 30, 20 26, as against Rs 1,059.86 crore in the same period a year earlier. Revenue from operations increased about 5.6 per cent to Rs 19,051 crore, and EBITDA dropped 3 per cent to Rs 4,013 crore as margins contracted to 21.06 per cent from 22.95 per cent a year earlier. Tata Power deployed a record capex of Rs 5,375 crore during the quarter. Growth was led by thermal, hydro, transmission and distribution segments. Income from Tata Projects and higher corporate expenses impacted the numbers. Return of Mundra to full operation and continued momentum in rooftop solar business were the highlights of the quarter. Commentaries on margin pressure and capital expenditure-led capacity additions will be watched by investors.  

Adani Energy Solutions (ADANIENSOL): Launches QIP to raise Rs 3,500 crore at floor price of Rs 1,698.15  

Adani Energy Solutions said on Monday it has launched a qualified institutional placement to raise Rs 3,500 crore from institutions under the base issue. The floor price at which shares have been allotted is Rs 1,698.15 per equity share. Consolidated net profit more than doubled to Rs 1,149 crore and revenue rose over 42 per cent to Rs 9,711 crore for the June quarter. Growth was driven by its transmission business and its smart metering businesses across states. In May, the company said it had got shareholder approval for a capital raise of up to Rs 10,000 crore until April 2025. Funds from the issue would be used to ramp up transmission pipeline including recently awarded projects such as Andhra Pradesh transmission business. Investors would watch cues on institutional response to the base issue and if the company upsizes the placement  

Welspun Corp (WELCORP): Bags Rs 960 crore US pipe order; order book at Rs 25,750 crore, a record  

Welspun Corp said it has received an order worth about Rs 960 crore to supply coated line pipes from its manufacturing facility at Little Rock, US. The latest addition takes its consolidated order book to about Rs 25,750 crore or about $2.7 billion globally, the highest ever. The company expects to execute the order during FY27 and FY28. Welspun’s Little Rock facility enables it to cater directly to demand from North American pipelines transmission projects such as oil, gas and water without incurring cost of exporting from India. Shares rose as much as 4 per cent intraday. Investors would look for further export order wins and commentary on capacity utilisation in India and US facilities  

TVS Motor Company (TVSMOTOR): Buys 4.39% stake in TVS Credit Services from Lucas-TV  

TVS Motor Company has bought equity shares of TVS Credit Services Ltd, its subsidiary, from group company Lucas- TVS Ltd for Rs 711 crore. TVS Motor said in a filing that it bought 1.13 crore equity shares of TVS Credit Services representing a 4.39 per cent stake. After the transaction, TVS Motor’s stake in TVS Credit Services would increase to 85.15 per cent from 80.76 per cent. Investors would watch for clarity on long term plans of the group for TVS Credit Services. The group has been evaluating strategic options for TVS Credit Services including a possible separation of the non-banking finance company to unlock value for shareholders.  

Usha Martin (USHAMART): Q1 profit zooms 40.7% to Rs 142 crore on robust wire rope demand  

Usha Martin’s consolidated net profit jumped 40.7 per cent year on year to Rs 142 crore for the quarter ended June 2023 as compared with Rs 100.9 crore in the same period last fiscal. Revenue from operations rose 16.4 per cent to Rs 1,033 crore. EBITDA surged 43.8 per cent to Rs 208 crore and profit before tax stood at Rs 184.1 crore for the April-June period. Earlier this month, rating agency India Ratings upgraded the standalone long-term rating of the specialty steel wire rope manufacturer. Investors will look for commentary on raw material costs and demand from international markets during the earnings call on Tuesday.  

Source

• BSE
• NSE
• company filings
• PTI