Summary:
Stocks to watch today, October 8: TD Power Systems, Tata Power, Ola Electric, MRF, HCLTech and others are in focus after fundraising, renewable-energy partnerships, rights issue, tax relief, expansion, regulatory developments and project updates that could influence key individual stocks.
Which stocks are in focus today, October 8?
Indian stock markets are likely to track several company-specific developments on October 8, with corporate actions, fund raising, business expansion, regulatory developments and order-related updates expected to influence individual stocks. TD Power Systems, Tata Power Company, Godrej Properties, Allcargo Terminals, Hindustan Aeronautics, HCL Technologies, Ola Electric Mobility, RPP Infra Projects, ASK Automotive and MRF are among the stocks to watch.
Stocks to Watch Today
| Stock | Key Development | What Investors May Track |
|---|---|---|
| TD Power Systems | ₹600 crore QIP launched | Final issue price and institutional participation |
| Tata Power | Floating solar partnership with Ocean Sun | 300-kWp pilot and renewable-energy expansion |
| Godrej Properties | Bandra Bay promenade project | Mumbai development activity |
| Allcargo Terminals | September volumes at 61,800 TEUs | YoY and MoM volume trend |
| Hindustan Aeronautics | New government nominee director | Board change and shareholder approval |
| HCLTech | Johannesburg headquarters with AI Centre of Excellence | South Africa expansion and AI capabilities |
| Ola Electric | ₹999.74 crore rights issue at ₹27/share | Fundraising, dilution and capital deployment |
| RPP Infra Projects | Withdraws from Legend 96 project | Project settlement and financial implications |
| ASK Automotive | GST inspection at Bhiwadi unit | Regulatory outcome and business impact |
| MRF | Kerala tax demand reduced | Lower outstanding tax liability |
Key Takeaways
- TD Power Systems: QIP launched to raise up to ₹600 crore, with a floor price of ₹775.35 per share. The company can offer a discount of up to 5% to eligible institutional buyers, subject to applicable regulations.
- Tata Power: Partnered with Norway-based Ocean Sun to introduce membrane-based floating solar technology in India, including a 300-kWp pilot at the Mulshi reservoir in Maharashtra.
- Ola Electric: Approved 37.03 crore partly paid-up rights shares at ₹27 each, aggregating to nearly ₹1,000 crore. The record date is October 13 and the issue opens on October 22.
- HCLTech: Opened a new regional headquarters in Johannesburg featuring an AI Center of Excellence and training hub.
- Allcargo Terminals: September 2026 container volumes stood at 61,800 TEUs, down 7% YoY and 6% MoM.
- ASK Automotive: Rajasthan GST officials conducted an inspection/search at its Bhiwadi manufacturing facility. The company reported no specific violation communicated by the department and no material financial or operational impact.
- MRF: The Kerala tax demand relating to FY2014-15 was reduced from ₹91.53 crore to ₹36.19 crore following a rectification order.
TD Power Systems
TD Power Systems has launched its qualified institutions placement (QIP) issue to raise up to ₹600 crore. The company fixed the floor price for the issue at ₹775.35 per share. The fund raising could provide additional capital for the company's growth and expansion plans. Investors will track the QIP closely, particularly in terms of the final issue price, participation from institutional investors and the utilisation of proceeds.
Tata Power
Tata Power has entered into a partnership with Norway-based renewable energy technology company Ocean Sun to bring membrane-based floating solar technology to India. As part of the collaboration, the companies will undertake a 300-kWp floating solar pilot project at Tata Power's Mulshi reservoir in Maharashtra.
The development is significant as floating solar can help utilise water bodies for renewable power generation while reducing the need for additional land. The pilot project could also provide Tata Power with experience in deploying this technology at a larger scale.
Godrej Properties and Allcargo Terminals
Godrej Properties is in focus after the Brihanmumbai Municipal Corporation, along with Godrej Properties and RC Group, announced the first phase of a landscaped bayside promenade at Bandra Bay in Mumbai.
Meanwhile, Allcargo Terminals reported September volumes of 61,800 TEUs. Volumes declined 7% compared with the same month last year and were down 6% from the previous month, making the trend in cargo volumes an important factor for investors to monitor.
Hindustan Aeronautics and HCL Technologies
Hindustan Aeronautics has approved the appointment of Anindya Biswas, DS & DG (Aero), DRDO, as a part-time official Director and Government Nominee Director. He replaces K Rajalakshmi Menon, with the appointment effective October 7, subject to shareholder approval.
HCL Technologies has expanded its presence in South Africa by launching a new regional headquarters in Johannesburg. The facility will strengthen the company's technology innovation and delivery capabilities and will house an AI Center of Excellence, highlighting its focus on artificial intelligence-led technology services.
Ola Electric Mobility
Ola Electric is in focus after its Board approved 37.02 crore rights equity shares worth ₹999.73 crore at ₹27 per share. The record date for determining eligible shareholders has been fixed for October 13. The rights issue will open on October 22 and close on October 30. Investors will monitor the fund raising and its potential impact on the company's capital position.
RPP Infra Projects and ASK Automotive
RPP Infra Projects has decided to withdraw from the proposed Legend 96 residential project as Joint Developer. The company cited delays in obtaining approvals, financing challenges, proposed security arrangements and changes to the agreed revenue-sharing arrangement.
ASK Automotive is also in focus after Rajasthan GST officials conducted inspection and search operations at its Bhiwadi manufacturing unit. The company said it has provided the required documents and clarifications and that there is no material impact on its financials or business operations.
MRF
MRF received relief in a tax-related matter after the Deputy Commissioner of State Tax, Kerala, passed a rectification order reducing the total tax demand from ₹91.53 crore to ₹36.19 crore. The matter relates to export clearances and declaration forms for FY2014-15. The reduction in the tax demand could be viewed positively by investors as the company continues to resolve the long-standing tax matter.
