Row 12 Wep_Image_750w x 536h px_b (1)

TVS Motor Company has unveiled the 2024 TVS Apache RTR 160 Racing Edition on July 10.



What Happened: As per the press release, the 2024 TVS Apache RTR 160 Racing Edition comes in a Matte Black colour scheme, with carbon fibre race-inspired graphics, the Racing Edition logo, and red alloy wheels.



&#8220;The TVS Apache series has consistently led the way in innovation, and bringing state-of-the-art technology to enthusiasts. The motorcycle showcases TVS Motor Company&#8217;s engineering prowess, incorporating a range of advanced technologies and performance upgrades,&#8221; said Vimal Sumbly, head business – premium, TVS Motor Company.



See Also: <a href="https://in.benzinga.com/content/39703575/kotak-warns-of-crushing-and-lasting-impact-of-possible-sebi-guardrails-on-derivatives-trading" target="_blank" rel="noreferrer noopener">Kotak Warns Of &#8216;Crushing And Lasting Impact&#8217; Of Possible SEBI Guardrails On Derivatives Trading</a>



The motorcycle is equipped with a 160cc air-cooled engine, delivering a16.04 (PS) pferdstarke (a measure of horsepower) @ 8,750 Rotations Per Minute (RPM). It includes three ride modes (Sport, Urban, and Rain), a digital LCD cluster with TVS SmartXonnect, an LED headlamp and tail lamp, and GTT (Glide Through Technology).



The 2024 TVS Apache RTR 160 Racing Edition is priced at ₹ 1,28,720 (ex-showroom, Delhi) and is available for booking starting today at authorized TVS Motor Company dealerships across India.



Read Next: <a href="https://in.benzinga.com/content/39704337/mahindra-mahindra-denies-connection-between-xuv700-price-reduction-and-up-evhybrid-policy" target="_blank" rel="noreferrer noopener">Mahindra &amp; Mahindra Denies Connection Between XUV700 Price Reduction And UP EV/Hybrid Policy</a>




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TVS Motor unveils 2024 TVS Apache RTR 160 Racing Edition, priced at ₹1,28,20. 

TVS Motor Company Launches The 2024 TVS Apache RTR 160 Racing Edition At ₹1.28 Lakh 

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TVS Motor Company Launches The 2024 TVS Apache RTR 160 Racing Edition At ₹1.28 Lakh

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On Monday Nifty 50 fell 0.34% to 23,453.80. 21 stocks gained while 29 declined.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054049/newplot-24.jpeg" alt="" class="wp-image-652614" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054049/newplot-24.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054049/newplot-24-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>



Hindalco emerged as the star performer with a 3.78% jump, closing at ₹651.05. The stock had closed at ₹627.35 in the previous trading session.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054330/newplot-25.jpeg" alt="" class="wp-image-652618" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054330/newplot-25.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18054330/newplot-25-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>



Following closely was Hero MotoCorp, which saw a 2.80% surge, ending the day at ₹4733.00, up from its last close of ₹4604.00.



<h4 class="wp-block-heading">Top Gainers</h4>



<figure class="wp-block-table"><table><thead><tr><th>Stock</th><th>Current Price</th><th>Last Close</th><th>% Change</th></tr></thead><tbody><tr><td>Hindalco</td><td>₹651.05</td><td>₹627.35</td><td>3.78%</td></tr><tr><td>Hero MotoCorp</td><td>₹4733.00</td><td>₹4604.00</td><td>2.80%</td></tr><tr><td>Tata Steel</td><td>₹141.21</td><td>₹137.98</td><td>2.34%</td></tr><tr><td>M&amp;M</td><td>₹2846.90</td><td>₹2807.20</td><td>1.41%</td></tr><tr><td>Hindustan Unilever</td><td>₹2422.90</td><td>₹2389.20</td><td>1.41%</td></tr></tbody></table></figure>



Tata Steel also had a good run, with a 2.34% increase, closing at ₹141.21. The stock had ended the previous session at ₹137.98.



M&amp;M and Hindustan Unilever rounded off the top five gainers, with a 1.41% rise each. M&amp;M closed at ₹2846.90, while Hindustan Unilever ended the day at ₹2422.90.



See Also:<a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030455/should-you-subscribe-to-ntpc-green-energy-ipo-check-analysts-calls-latest-gmp"> Should You Subscribe To NTPC Green Energy IPO? Check Analysts&#8217; Calls, Latest GMP</a>



On the flip side, TCS was the biggest loser, shedding 3.05% to close at ₹4019.50. The IT giant had closed at ₹4145.90 in the previous session.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18055440/newplot-26.jpeg" alt="" class="wp-image-652627" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18055440/newplot-26.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18055440/newplot-26-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /></figure>



BPCL followed suit, with a 3.02% drop, closing at ₹289.20. The stock had ended the previous session at ₹298.20.



<h4 class="wp-block-heading">Top Losers</h4>



<figure class="wp-block-table"><table><thead><tr><th>Stock</th><th>Current Price</th><th>Last Close</th><th>% Change</th></tr></thead><tbody><tr><td>TCS</td><td>₹4019.50</td><td>₹4145.90</td><td>-3.05%</td></tr><tr><td>BPCL</td><td>₹289.20</td><td>₹298.20</td><td>-3.02%</td></tr><tr><td>Infosys</td><td>₹1811.45</td><td>₹1864.55</td><td>-2.85%</td></tr><tr><td>Dr. Reddy&#8217;s</td><td>₹1193.55</td><td>₹1226.70</td><td>-2.70%</td></tr><tr><td>Trent</td><td>₹6301.65</td><td>₹6463.00</td><td>-2.50%</td></tr></tbody></table></figure>



Infosys also had a rough day, with a 2.85% decrease, closing at ₹1811.45. The stock had closed at ₹1864.55 in the last session.



Dr. Reddy&#8217;s and Trent completed the list of top five losers, with a 2.70% and 2.50% fall respectively. Dr. Reddy&#8217;s closed at ₹1193.55, while Trent ended the day at ₹6301.65.



Read Next: <a href="https://in.benzinga.com/markets/equities/24/11/42030973/ntpc-and-ongc-join-hands-to-establish-a-green-energy-venture-ongpl">NTPC And ONGC Join Hands To Establish A Green Energy Venture &#8216;ONGPL&#8217;</a>




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Markets

Movers

Nifty 50 fell 0.34% to 23,453.80. Hindalco emerged as top performer with a 3.78% jump, while TCS was the biggest loser with a 3.05% fall.

TCS Top Loser As Nifty Continues Slide

NTPC

NTPC and Oil and Natural Gas Corporation (ONGC) have come together to form a new company, &#8220;ONGC NTPC GREEN PRIVATE LIMITED&#8221; (ONGPL), aimed at developing renewable energy projects.



What Happened: As per a regulatory filing, ONGPL is a 50:50 joint venture between NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Limited, and ONGC Green Limited (OGL), a wholly-owned subsidiary of ONGC.



See Also:<a href="https://in.benzinga.com/markets/equities/24/11/42030459/rvnl-secures-loa-for-294-94-cr-contract-from-south-central-railway"> RVNL Secures LoA For ₹294.94 Cr Contract From South Central Railway</a>



The joint venture&#8217;s primary objective is to explore and establish renewable energy projects and assets through greenfield development and acquisitions. It will also evaluate the feasibility of offshore wind projects, among other related activities.



The Ministry of Power (MoP), Government of India, had previously approved the formation of this joint venture. The new company&#8217;s authorized share capital is ₹10 Lakh, with an equal amount subscribed and paid up.



ONGPL will operate in the renewable energy sector, exploring opportunities in storage, E-mobility, and ESG (Environmental, Social, and Governance) compliant projects. It will also investigate opportunities related to carbon credits and green credits for low-carbon transition.



Read Next: <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030455/should-you-subscribe-to-ntpc-green-energy-ipo-check-analysts-calls-latest-gmp">Should You Subscribe To NTPC Green Energy IPO? Check Analysts&#8217; Calls, Latest GMP</a>




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ONGPL, a joint venture between NTPC and ONGC, was formed to develop renewable energy projects, including offshore wind, storage, and E-mobility.

NTPC And ONGC Join Hands To Establish A Green Energy Venture &#39;ONGPL&#39;

IPO (3)

NTPC Green Energy IPO is set to open for subscription on November 19. Brokerage firm Ventura gave a "subscribe" rating to the IPO In its review note. The brokerage said that the company's capacity utilisation factor (CUF) has been consistently improving, powered by operational efficiency. 



NTPC Green Energy's CUF increased from 19.4% in FY22 to 24.73% in FY24, the brokerage said. The company has fared well in comparison to its peers, the research firm added.&nbsp;



Ventura also noted that NTPC plans to enhance its project pipeline through prudent bidding and strategic joint ventures with PSUs and private companies. NTPC had recently signed a joint venture agreement with MahaPreit to implement renewable energy park which includes solar, wind and hybrid energy.&nbsp;



See Also: <a href="https://in.benzinga.com/markets/equities/24/11/42030086/suzuki-and-tata-elxsi-launch-offshore-development-centre-in-pune-to-propel-future-mobility">Suzuki And Tata Elxsi Launch Offshore Development Centre In Pune To Propel Future Mobility</a>



The company's main priorities involve developing battery storage and renewable energy Projects. This includes the green hydrogen hub at Pudimadoka. The company's focus is also on green hydrogen production in Rajasthan and Renewable energy park in Maharashtra. 



Earlier, SBI Securities had also issued a subscribe for <a href="https://in.benzinga.com/markets/equities/24/11/41964629/sbi-securities-gives-long-term-subscirbe-rating-for-ntpc-green-energy">long-term rating to the upcoming IPO.</a>



IPO Details: The ₹10,000 crore issue will be open for subscription on November 19 and will close on November 22. The IPO is a fresh issue of 92.59 crore shares. The company has set a price band of <a href="https://in.benzinga.com/markets/equities/24/11/41931624/ntpc-green-energy-ipo-to-open-on-nov-19-check-price-band">₹102 to ₹108 per share</a> for the issue.&nbsp;



NTPC Green IPO&#8217;s GMP has further declined to ₹1 on Monday from <a href="https://in.benzinga.com/markets/equities/24/11/41964629/sbi-securities-gives-long-term-subscirbe-rating-for-ntpc-green-energy?utm_source=benzinga_india&amp;utm_campaign=partner_feed&amp;utm_medium=partner_feed&amp;utm_content=site">₹3 on Thursday</a>. It's important to note that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock's performance upon listing.



Read Next: <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42030213/bdl-shares-down-3-after-q2-but-analyst-expects-over-40-surge-ahead">BDL Shares Down 3% After Q2, But Analyst Expects Over 40% Surge Ahead</a>

Analyst Color

Analyst Ratings

NTPC Green Energy IPO to open on Nov 19 &amp; close on Nov 22. Ventura gives a subscribe rating, notes company&#39;s improving CUF &amp; plans for project pipeline &amp; green energy development. IPO is a fresh issue of 92.59cr shares with price band of ₹102-108. Grey market premium declines.

Should You Subscribe To NTPC Green Energy IPO? Check Analysts&#39; Calls, Latest GMP

Railway

Rail Vikas Nigam Limited (RVNL) has bagged a substantial Engineering Procurement Construction (EPC) contract from South Central Railway.



What Happened: RVNL announced the receipt of the&nbsp;letter of acceptance from South&nbsp;Central Railway in an exchange filing on Monday. The contract entails the doubling of the track between Navipet Station and Indalvai Station in Telangana, excluding the Nizamabad Yard. This project is a segment of the Mudkhed-Medchal doubling project in the&nbsp;state.



The project, worth ₹294.94 crores, also includes electrification and signalling works. The contract is domestic and is expected to be executed within 24 months. The company was declared the lowest<a href="https://in.benzinga.com/markets/equities/24/11/41877831/rvnl-bags-294-94-cr-order-from-south-central-railway"> bidder for the order earlier this month.</a>



See Also:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42030086/suzuki-and-tata-elxsi-launch-offshore-development-centre-in-pune-to-propel-future-mobility" target="_blank" rel="noreferrer noopener">Suzuki And Tata Elxsi Launch Offshore Development Centre In Pune To Propel Future Mobility</a>



This win follows a string of successful bids by RVNL. Earlier this month, a joint venture between <a href="https://in.benzinga.com/markets/equities/24/11/41743252/rvnl-jv-bags-613-cr-rail-infrastructure-project-in-karnataka">RVNL and Rithwik Projects</a> secured a ₹613 crore rail infrastructure project in Karnataka. Additionally, a consortium led by <a href="https://in.benzinga.com/markets/equities/24/11/41742334/rvnl-led-consortium-bags-massive-5-000-cr-project-from-bsnl">RVNL, HFCL, and Aerial Telecom Solutions</a> was declared the lowest bidder for a ₹7,000 crore order from Bharat Sanchar Nigam Limited (BSNL).



The company&#8217;s <a href="https://in.benzinga.com/news/earnings/24/11/41799851/rvnl-q2-net-profit-down-27-to-287-cr-misses-estimates">second-quarter net profit declined</a> by 27.12% to ₹286.89 crore. The railway major's revenue also fell 1.2% to ₹4,854.95 crore, missing the street's estimates for the company. However, RVNL maintained a <a href="https://in.benzinga.com/news/earnings/24/11/41835819/rnvl-sees-fy25-revenue-at-23-000-cr-orderbook-stands-at-92-000-cr">positive outlook</a> for the second half of FY25, with the company&#8217;s Director of Finance, Sanjeeb Kumar, expressing confidence about hitting a topline of ₹22,000 crore to ₹23,000 crore in FY25.



Read Next:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42029262/mgl-igl-shares-tank-up-to-20-after-govt-cuts-apm-gas-allocation-for-2nd-straight-month" target="_blank" rel="noreferrer noopener">MGL, IGL Shares Tank Up To 20% After Govt Cuts APM Gas Allocation For 2nd Straight Month</a>




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Contracts

The project, worth ₹294.94 crores, also includes electrification and signalling works. The contract is domestic and is expected to be executed within 24 months.

RVNL Secures LoA For ₹294.94 Cr Contract From South Central Railway

Stocks.Watch_.Shutterstock

Shares of Bharat Dynamics Limited (BDL) have been under the pump after the company <a href="https://in.benzinga.com/news/earnings/24/11/41964223/bdls-q2-net-profit-slumps-16-to-122-53-cr-revenue-drops-11">posted its earnings for the quarter ended September</a>. However, analysts at Antique Broking see the stock turning things around.



The BDL Analyst: Antique Broking maintained its &#8220;buy&#8221; rating for the stock, but reduced the target price to ₹1,357 from ₹1,579. The revised target still indicates an around 42% upside from the stock&#8217;s current market price of around ₹955.



The BDL Thesis: BDL reported Q2FY25 revenue of ₹550 crore, a decline of 11.5% year-on-year (YoY) and below Antique Broking&#8217;s<a href="https://in.benzinga.com/markets/equities/24/11/41962178/bdl-shares-in-green-ahead-of-q2-results-what-to-expect"> estimate of ₹700 crore. </a>Analysts attributed the revenue miss to continued supply chain challenges that have persisted for the past eight quarters, hampering the execution of the company's robust ₹19,000 crore order backlog.



EBITDA stood at ₹98.8 crore, below the brokerage&#8217;s estimate of ₹140 crore, due to under-absorption of costs. EBITDA margin contracted 370 basis points YoY to 18.1%. PAT came in at ₹120 crore, a 16.7% YoY decline, and below Antique&#8217;s estimate of ₹157 crore.



Despite these issues, BDL has maintained its revenue guidance of ₹3,000 crore+ for FY25. The company plans to prioritize orders with a functional supply chain and defer those facing challenges to FY26, the brokerage said.



See Also: <a href="https://in.benzinga.com/news/earnings/24/11/42028685/hal-shares-jump-4-as-brokerages-remain-strongly-bullish-after-q2-print">HAL Shares Jump 4% As Brokerages Remain Strongly Bullish After Q2-Print</a>



With an order backlog of ₹19,000 crore —equivalent to 8.6x its trailing 12-month revenue—Antique highlighted robust revenue visibility.



The brokerage said that the defence manufacturer should see a strong influx of orders. The company expects to finalise orders worth ₹2,000–5,000 crore in FY25, with a strong pipeline exceeding ₹20,000 crore over the next two to three years. Key projects in the pipeline include large-scale orders for Astra MK II, QRSAM, and MRSAM. BDL had secured ₹1,760 crore in orders during FY24.



Antique noted that while supply chain issues have dampened execution, BDL is taking steps to address these challenges. The company is developing alternate strategies to accelerate deliveries for orders unaffected by supply chain disruptions, with execution expected to pick up in the second half of FY25. The brokerage believes that supply chain normalization and indigenization efforts will enhance BDL's ability to execute its large order backlog.



Antique remains optimistic about BDL's long-term prospects, citing strong business fundamentals and export opportunities. 



Price Action: BDL&#8217;s share price was down 3.48% to trade at ₹955.15 on Monday afternoon.



Read Next: <a href="https://in.benzinga.com/analyst-ratings/analyst-color/24/11/42029033/vodafone-idea-shares-in-red-for-7th-consecutive-session-brokerages-cut-price-target">Vodafone Idea Shares In Red For 7th Consecutive Session: Brokerages Cut Price Targets</a>



Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Price Target

Reiteration

Trading Ideas

Shares of Bharat Dynamics Limited (BDL) have been under the pump after the company posted its earnings for the quarter ended September. However, analysts at Antique Broking see the stock turning things around.

BDL Shares Down 3% After Q2, But Analyst Expects Over 40% Surge Ahead

car factory

Suzuki Motor Corporation and Tata Elxsi have inaugurated the &#8220;Suzuki-Tata Elxsi Offshore Development Center&#8221; in Pune, India, on Friday.



What Happened: The Japanese multinational mobility manufacturer Suzuki and Tata Elxsi have unveiled a dedicated centre in Pune. This centre is set to drive Suzuki&#8217;s advancements in engineering, thereby charting the path for future mobility.



The collaboration between the two companies will concentrate on next-generation powertrains and software-defined vehicles, promoting energy-efficient solutions for electric, hybrid,&nbsp;and alternative fuel vehicles. Tata Elxsi will align&nbsp;with Suzuki's goals for sustainable&nbsp;innovation in lightweight design, safety,&nbsp;styling and engineering, eco-friendly materials, and advanced simulations&nbsp;to improve time-to-market.



See Also:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42029262/mgl-igl-shares-tank-up-to-20-after-govt-cuts-apm-gas-allocation-for-2nd-straight-month" target="_blank" rel="noreferrer noopener">MGL, IGL Shares Tank Up To 20% After Govt Cuts APM Gas Allocation For 2nd Straight Month</a>



Suzuki's Chief Technology Officer, Katsuhiro Kato, emphasised the centre&#8217;s importance as a crucial part of Suzuki's innovation strategy. &#8220;Tata Elxsi's expertise in advanced computing, simulation, and design digital makes them an ideal partner in bringing forward-thinking solutions to market. This strategic and long-term partnership incorporates Suzuki's endeavour of minimising energy and enables India's talent to actively contribute to our development efforts globally,&#8221; said Kato.



This development comes on the heels of <a href="https://in.benzinga.com/markets/equities/24/10/41621219/maruti-suzuki-to-supply-ev-suvs-to-toyota-production-to-begin-in-2025">Suzuki&#8217;s recent collaboration with Toyota</a> to produce battery EV SUV models, set to begin in spring 2025 at its plant located in Gujarat. This partnership marked the first between the companies in green vehicles. 



Read Next:&nbsp;<a href="https://in.benzinga.com/markets/equities/24/11/42029214/why-tata-steel-hindalco-vedanta-and-other-metal-stocks-are-surging-up-to-4-today" target="_blank" rel="noreferrer noopener">Why Tata Steel, Hindalco, Vedanta And Other Metal Stocks Are Surging Up To 4% Today</a>




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The collaboration between the two companies will concentrate on next-generation powertrains and software-defined vehicles, promoting energy-efficient solutions for electric, hybrid, and alternative fuel vehicles. 

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