Stocks to Watch: Maruti, Adani stocks, Tata Steel, Hindustan Zinc, Star Health

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Maruti Suzuki: Maruti Suzuki India Ltd on Monday said it is looking to invest as much as ₹1.25 trillion by 2030-31 to develop 10-11 new models, including six electric vehicles (EVs), and double its annual production to 4 million units. In a presentation, the country’s largest carmaker said it plans to dial up its presence in new vehicle segments, including hybrid, flex fuel and electric, particularly in the sport utility vehicle (SUV) format. Adani Group: Adani Group has released a media statement condemning the ‘Malicious Campaign’ by UK-based newspaper Financial Times, claiming that the media outlet has been rehashing old and baseless allegations to hamper the global reputation of the conglomerate.

The Adani Group alleged that the articles in Financial Times were part of an extended campaign to advance vested interests under the guise of public interest. Tata Steel: In the wake of alleviating risk from UK Operations, the Issuer Default Rating (IDR) of Tata Steel was upgraded to ‘BBB-’ from ‘BB+’ by Fitch Ratings on Monday. The upgrade came after Tata Steel Limited's standalone credit profile (SCP) was revised to ‘bb+’ from ‘bb’.

The revision was made on account of the reduction in uncertainty and financial risk from its UK operations. Hindustan Zinc: Vedanta Ltd on Monday said the tax authorities have imposed a penalty of ₹1.81 crore on its subsidiary Hindustan Zinc. The order was received on Sunday, October 8, and Vedanta Ltd informed the exchanges.

"The order has been passed on the contention that the company had wrongly availed input tax credit," it said. The company further said it does not expect the order to have any financial impact on the company. Star Health and Allied Insurance: The company received a notice