Key Stocks to Watch: Tata Power, Indian Hotels, and More on Nov 12

Tata Motors’ CV unit lists today; Tata Power invests ₹1,572 crore in Bhutan hydro project; IHCL expands with Tree of Life Panheli; BASF India partners Clean Max for hybrid plant; CCI clears Wilmar–AWL Agri deal. | Photo Credit: iStockphoto

BASF India on Tuesday announced a tie-up with Clean Max Enviro Energy Solutions to build a 12.21 MW wind-solar hybrid captive power plant to provide renewable energy to meet the growing energy needs of its manufacturing sites at Dahej and Panoli. The captive power project is scheduled to go operational next year, and BASF aims to maximise the use of renewable energy at its manufacturing sites in Gujarat, as per a statement.

Fair trade regulator CCI on Tuesday cleared Wilmar International’s proposal to acquire up to 20 per cent stake in AWL Agri Business Ltd from Adani Group. The move came after Adani Group in July this year announced that it will sell a 20 per cent stake in AWL Agri Business (formerly Adani Wilmar Ltd) to Singapore-based Wilmar International for Rs 7,150 crore, as part of its decision to exit the FMCG business and focus on its infrastructure vertical. Wilmar International, through its arm Lence Pte, is acquiring the stake in AWL Agri Business Ltd.

Tata Power on Tuesday said it will invest Rs 1,572 crore to acquire a 40 per cent equity stake in a special purpose vehicle that will set up the 1,125 MW Dorjilung hydro power project in Bhutan at an investment of Rs 13,100 crore. The acquisition will be done in one or more tranches for which a shareholders’ agreement would be executed between the company and Druk Green Power Corporation Ltd (DGPC) in Bhutan, a regulatory filing said.

Tata Motors’ Commercial Vehicles (CV) business, formerly known as TML Commercial Vehicles Limited, will be listed at the exchanges today. It may be recalled that Tata Motors had announced to separate its diverse business segments, Commercial Vehicles (CV), Passenger Vehicles (PV), including EVs, and Jaguar Land Rover (JLR). Tata Motors’ demerger has a share entitlement ratio of 1:1. This means shareholders will receive one fully paid-up share of ₹2 in Tata Motors TMLCV for each share they hold in Tata Motors as of the record date – October 14.