Stocks to watch: DRL, TVS Motor, PSP Projects, EID Parry India, Voda Idea

Nifty futures on SGX were trading 38 points higher at 17,417 around 8.45 am, indicating a firm start for the benchmark indices on Wednesday. 

Here are the top stocks to track in today's session:

Telecom stocks: Shares of telecom companies could be in focus as the Union Cabinet is likely to discuss a relief package for the financially stressed telecom sector on Wednesday, according to sources in the government. As part of the package, there could be some relaxation on payment of levies to the government including a one-year moratorium on spectrum installment due in April 2022. READ MORE

DRL: Dr Reddy's Laboratories on Tuesday said it initiated supply of the first dose component of Russian COVID-19 vaccine Sputnik V to partner hospitals all over the country. The development came following the announcement that Panacea Biotec supplied the first shipment of the second component of the Russian Sputnik V vaccine manufactured by it for sale in India. Further, Citius bought Dr Reddy’s license for Oncology Immunotherapy.

McDowell Holdings: The recovery officer of Debt Recovery Tribunal (DRT) on Tuesday offloaded shares worth Rs 50 lakh of McDowell Holdings Ltd through an open market transaction. According to the bulk deal data on the NSE, Recovery Officer, DRT, sold 1.1 lakh shares of McDowell Holdings at an average price of Rs 45.45 apiece. This translated into a total deal value of Rs 49.99 lakh.

TVS Motor Company: Chennai-based TVS Motor Company on Tuesday said it has appointed ETG Logistics (ETGL) as its new distributor in South Africa as part of its expansion plan in the country. ETGL will operate 30 dealerships for TVS Motor Company in South Africa under the partnership, the company said in a regulatory filing.

National Fertilizers: State-owned fertiliser firm NFL on Tuesday said Nirlep Singh Rai has been appointed as Chairman and Managing Director of the company. In a regulatory filing, NFL informed that Nirlep Singh Rai, Director (Technical), has been appointed as Chairman & Managing Director, on the Board of the company with effect from date of his assumption of charge i.e. September 6.

PSP Projects: The company has received Letter of Intent(s) for projects worth Rs 132.57 crore towards industrial and precast segment from different clients in Gujarat.

Vidhi Specialty Food Ingredients: The company has set up 2 MW Solar Power Plant at Rambhapur in Akola, Maharashtra. 

Wipro: The company has partnered with Securonix to deliver managed security services. Securonix’s cloud-first SIEM, analytics-driven detection and automated response tools with Wipro’s global reach and cybersecurity intelligence capabilities will provide organizations with improved governance and security threat protection, the company said. 

ICRA: LIC cut its stake in the company from 7.96 per cent to 5.81 per cent via open market sale.

Maruti Suzuki: August production was down 7.9 per cent at 1.14 lakh units against 1.24 lakh units (YoY). Production volume an August was affected due to electronic components shortage.

Biocon: The company has entered into a confidential settlement agreement with Celgene on Revlimid patent.

EID Parry India: The company has approved the setting up of a 120 KLPD grain/sugar syrup/molasses based Distillery at Sankili unit in Andhra Pradesh.