Top stocks to watch: Tata Steel, Power Grid, TCPL, Coal India, NMDC, JSW Energy, RITES & Siemens

Indian stock markets kicked off the new fiscal with a sharp sell-off amid US reciprocal tariff fears, which bruised the sentiments at Dalal Street. BSE Sensex cracked 1,390.41 points, or 1.80 per cent to settle at 76,024.51, while NSE Nifty50 tumbled 353.65 points, or 1.50 per cent to end at 23,165.70. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, April 02, 2025:

Corporate actions today: Shares of ADC India Communications, RailTel Corporation of India and MSTC shall trade ex-dividend, while shares of Capital Trade Links, Sahaj Solar and Ranjeet Mechatronics will trade ex-bonus today.

Tata Steel: The steel major acquired 1,24,90,000 equity shares worth Rs 12.49 crore in the Indian Foundation for Quality Management (IFQM). Post the acquisition, the company’s aggregate shareholding in IFQM has increased from 9.09 per cent to 16.66 per cent.

Power Grid Corporation of India: The company board will meet on April 4 to consider fund-raising via issuance of NCDs. It has been declared the successful bidder to establish an inter-state transmission system for the evacuation of power from Mahan Energen Generating Station in Madhya Pradesh under the build, own, operate, and transfer (BOOT) basis.

Coal India: The company board of the PSU coal miner has approved an increase in the notified price of coal by Rs 10 per tonne (from the existing Rs 10 per tonne to Rs 20 per tonne for non-coking and Rs 10 per tonne for coking coal for regulated and non-regulated sectors across Coal India), effective April 16.

Shriram Finance: The Reserve Bank of India has approved the company’s acquisition of 100 per cent equity stake in Shriram Overseas Investments (SOIPL) from Shriram Investments Holdings.

Tata Consumer Products: The Tata Group company has received an assessment order for the financial year 2021-22, demanding tax of Rs 262.08 crore (including interest). The Assessing Officer has proposed certain additions/disallowances with respect to the returned income.

Siemens India: The National Company Law Tribunal (NCLT), Mumbai, has sanctioned the Scheme of Arrangement between Siemens and Siemens Energy India, providing for the demerger of the company’s energy business to Siemens Energy India.

RITES: The state-run railway company has mutually agreed with UP State Bridge Corporation (UPSBCL) to foreclose the agreement for consultancy services for construction supervision of civil works. Due to interpretation issues of certain provisions of the agreement, it was difficult for the company to continue with the execution of the agreement under the existing terms.

NMDC: The iron ore production declined sharply by 27 per cent to 3.55 MT in March 2025, compared to 4.86 MT in March 2024, but iron ore sales grew by 6.3 per cent to 4.21 MT, from 3.96 MT in the same period.

JSW Energy: The JSW Group firm has added 3.6 GW of generation capacity during FY25, marking the highest annual capacity addition. The installed generation capacity at the end of FY25 stands at 10.9 GW, significantly surpassing the 10 GW capacity target set for FY25. In the fourth quarter of FY25, the company added 2.8 GW of operational capacity.

Hindustan Copper: In FY25, the Matanjkhand Copper Project (MCP), the company’s flagship unit in Madhya Pradesh, achieved an annual ore production of 27.25 lakh tonnes, which is 103 per cent of the annual target. MCP has processed 24.34 lakh tonnes of copper ore during the year and achieved 97 per cent of the annual target.

Polycab India: The wires & cables maker has received an assessment order for FY23 from the Income Tax Department, Mumbai, demanding Rs 8.53 crore for disallowance of certain expenditures and additions.

Godawari Power & Ispat: The mining activities at the Boria Tibu iron ore mines have been temporarily suspended effective April 1 due to the expiry of the mining plan approval. Operations at the mines will be resumed after receiving renewal approval from the Indian Bureau of Mines, which is expected to take around 10 days.

MOIL: The prices of all ferro grades of manganese ore with manganese content of Mn-44 per cent and above have been increased by 3 per cent, effective April 1 for the month of April. The prices of all other ferro grades of manganese ore with manganese content below Mn-44 per cent have been increased by 0.5 per cent.

Indian Bank: The Government has appointed Venkatachalam Anand as the Chief Vigilance Officer (CVO) of the bank, effective April 1. The current CVO, Vishesh Kumar Srivastava, has been transferred to Bank of Baroda as CVO.

SJVN: The utilities player’s subsidiary SJVN Green Energy completed the trial run of 241.77 MW capacity in Phase-I of the 1,000 MW Bikaner Solar Power Project on March 31. The said capacity is currently under operation and is all set to achieve COD on April 2.

Zaggle Prepaid Ocean Services: The financial services company has signed a master services agreement with Truecaller International LLP, providing the Zaggle Save (employee expense management & benefits) for one year.

Syngene International: The drugmaker’s company board approved the appointment of Peter Bains as an Additional Director, designated as Managing Director & Chief Executive Officer of the company, effective April 1, subject to the approval of the shareholders of the company.

Sansera Engineering: MMRFIC Technology, an associate company of Sansera Engineering, has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Madras (IITM) for the development of RISC-V based Secure SoC.

Vaibhav Global: The jewellery company has received a draft assessment order from the Income Tax Department, Jaipur, for the assessment year 2022-23, wherein major adjustments amounting to Rs 204.86 crore on transfer pricing issues have been proposed.