Stocks To Watch Today, Thursday, July 9: Tata Steel, Mahindra & Mahindra, JSW Energy, SBI, NALCO & NLC

Mumbai, July 9: Investors in India on Thursday will be tracking shares of Tata Steel after the company on Wednesday reported increase in production in Q1. Mahindra and Mahindra stocks will be under spotlight after the company announced increase in prices of passenger and commercial vehicles. SBI stocks will be tracked after SBI Funds Management filed for IPO. Here is what the investors will track today.

Tata Steel (TATASTEEL) Q1 Crude Steel Output Up 11% at 5.82 MT

Tata Steel’s domestic crude steel production grew 11 per cent year-on-year to 5.82 million tonnes in the first quarter of FY27, while total deliveries from India were up 9 per cent at 5.17 million tonnes, Tata Group steel major said in a provisional quarterly production update on Wednesday. Higher production volumes from Jamshedpur and Kalinganagar plants drove growth. Among segments, Automotive & Special Products recorded the highest ever volumes for any first quarter, while branded Tata Tiscon and Tata Steelium also recorded robust year-on-year growth, it added. Tata Steel’s India business continues to make progress on capacity utilisation towards its longer-term target of 40 million tonnes per annum. Full Q1 FY27 results are awaited, where investors will look for commentary on capex plans and margins

Mahindra & Mahindra (M&M) Raises Prices on SUV, CVs

India’s largest SUV maker Mahindra & Mahindra (M&M) said on Wednesday it has increased prices across its vehicle portfolio by an average of 2.7 per cent for SUVs and 2 per cent for commercial vehicles, effective July 10, 2026. This is the second big price revision by the automaker after it had raised prices by up to 2.5 per cent in April this year. However, the actual price increase will depend on the model and variant, M&M said in a statement. Customers who have pending bookings are advised to confirm with the dealerships whether the prices at the time of booking will apply or not, it added. Mahindra’s SUV sales have remained robust through the June quarter.

JSW Energy (JSWENERGY) Adds 1,081 MW Renewable Capacity

JSW Energy said that it has commissioned 1,081 MW of renewable energy capacity during the period from April 20June 20,this year. With this, its total installed capacity has risen to 14,535 MW. The company added 442 MW of solar capacity, 108 MW wind capacity, 381 MW hybrid capacity and 150 MW hydro power capacity, JSW Energy said in a statement. This has taken its renewable energy capacity to about 61 per cent of its total installed capacity, from about 59 per cent in the previous quarter. The company is rapidly pivoting towards renewable energy capacity additions, even as it works towards closing its thermal power plants. Majority of this capacity comes with long-term power purchase agreements (PPAs) locked in. Investors will track if JSW Energy hits the 3 GW guidance in FY27 on lower absolute fresh investments of about Rs 20,000 crore.

SBI (SBIN): SBI Funds Management Files RHP for IPO

State Bank of India’s (SBI) subsidiary SBI Funds Management has filed draft Red Herring Prospectus with Registrar of Companies for its initial public offering to be opened for public subscription on July 14. The public offer will consist of a completely offer-for-sale of 20.37 crore shares by the existing shareholders State Bank of India and Amundi India Holding. State Bank of India is selling 6.3 per cent stake through this offer while French asset manager Amundi will pare its stake by 3.7 per cent. The price band for the issue has been set at Rs 545-574 per share. At the upper end of the range, India’s largest asset manager will be valued at about Rs 1.17 lakh crore or roughly $12.24 billion. Since the issue is completely OFS, there won’t be any fresh capital raised by the company. SBI Funds Management had assets under management aggregating to Rs 12.5 lakh crore as of March-end.

NALCO (NATIONALUM), NLC India (NLCINDIA) Signs JV for Captive Power Plant

National Aluminium Company and NLC India on Wednesday signed a Joint Venture- cum-Shareholders’ Agreement for setting up of a joint venture with equal shareholding for development of 4×270 MW (1,080 MW) thermal captive power plant at Angul in Odisha. The agreement was signed in the presence of Union Minister for Coal and Mines G Kishan Reddy here on Wednesday. The power plant would cater to the captive power requirement of NALCO’s 0.5 million tonne per annum aluminium smelter expansion at Angul and the joint venture company will enter into a power purchase agreement with NALCO for a period of 25 years for entire offtake of power to be generated by the power plant. The coal requirement of the power plant would be met through a long-term fuel supply agreement with NLC India’s coal mine at Machhakata.

Source:

• bseindia.com
• nseindia.com
• PTI; company filings