Stocks to Watch: Tata Motors, TCS, Adani Green, HPCL, IndiGo, Berger Paints
Tata Motors: Tata Motors Ltd’s passenger electric vehicle subsidiary on Thursday said it will enter a strategic partnership with Jaguar Land Rover, the wholly-owned British luxury vehicle arm of the group, to leverage its electrified modular architecture (EMA) platform and develop its premium pure EV series. Tata Motors reported a consolidated net profit of ₹3,783 crore for the September quarter. Its total consolidated revenue from operations stood at ₹1,05,128 crore.
TCS: TCS is battling a new problem that is not the company’s making: Making up for a nearly $450 million loss in annual business. Earlier this week, Deutsche Bank announced that it will shut almost half of the 550 branches of Postbank over the next two years as Germany’s biggest bank sees more customers prefer online banking than walking into a branch. It was only in November 2020 that TCS bought Postbank Systems AG as the firm looked at doing more business with its German client.
Adani Green Energy: Adani Green Energy, the renewables firm of Indian billionaire Gautam Adani, is in talks with a group of foreign lenders to borrow as much as $1.8 billion, according to people familiar with the matter. The loan proceeds will be used to build new capacity in solar and wind projects, said the people, who asked not to be named as the matter is private. The banks involved include Barclays Plc, BNP Paribas SA, Deutsche Bank AG, First Abu Dhabi Bank PJSC, Rabobank and Standard Chartered Plc.
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