News for TD Power Systems Limited (TDPOWERSYS.BO)

The multibagger stock ended 1.41% lower at Rs 380.10 against the previous close of Rs 385.55 on BSE. Market cap of the firm stood at Rs 5,936.54 crore.

Stocks including Tata Motors, JSW Steel, Life Insurance Corporation, Asian Paints, ITI, Divis Laboratories, Ola Electrics, GR Infra and more will be the spotlight on Monday, November 11.

As the earnings season wraps up, JTL Industries Ltd. will be in the spotlight next week as it trades ex-split. Additionally, DCM Shriram Ltd., IRFC Ltd., and Indraprastha Gas Ltd. are set to attract attention this week as they trade ex-dividends.

Over 25 companies will have their shares turn ex-dividend for dividends, bonus issues, amalgamations, and stock splits over the next five days.

T D Power Systems and DCM Shriram have set November 11 as the record date for their announced dividend payouts. Investors looking to receive dividends from these companies have until today to purchase shares. T D Power Systems announced an interim dividend of Rs 0.60 per share, while DCM Shriram declared an interim dividend of Rs 2 per share.

Stock including RIL, Airtel, Vedanta, ONGC, Adani Energy, Lupin, Bharti Hexacom, Biocon and more may remain under the spotlight before the opening bell on Tuesday, August 6.

Multibagger stock: T D Power Systems stock opened lower at Rs 330.15. Market cap of the multibagger stock stood at Rs 5081 crore on BSE.

Any level above 22,400 could push Nifty towards new all-time high and beyond.

BSE's Sesnex added 66.14 points, or 0.09 per cent, to settle at 73,872.29. NSE's Nifty50 index advanced 27.20 points, or 0.12 per cent, to end the session 22,405.60 for the day.

Traders are advised to remain cautious till Nifty closes above 22,300 levels.

Shares of TD Power Systems Ltd have delivered multibagger returns in the last three years. The power sector stock, which closed at Rs 29.21 on January 8, 2021 surged to a high of Rs 287.50 in the current session, clocking 884.25% returns during the period. In comparison, Sensex has surged 46.64% during the period. TD Power Systems stock has gained 99.72% in a year and zoomed 223% in two years. The company had zero borrowings at the end of September 2023 quarter.

Jyoti CNC Automation IPO will close on January 11 and the price band has been fixed at Rs 315-331 per share

Jyoti CNC Automation has raised Rs 447.75 crore from anchor investors as it finalised allocation of 1,35,27,190 equity shares at a price of Rs 331 apiece.

Vijay Kirloskar seeks CVC probe into alleged irregularities, non-disclosures by TD Power Systems management. Kirloskar wants Sebi, BSE to investigate matter. Proxy firm InGovern Research Services had written to Sebi highlighting deliberate omissions in IPO prospectus. Institutional investors had earlier expressed concerns over TDPS management withholding info.

BSE Sensex shed 64.66 points, or 0.10 per cent, to end the session at 66,408.39. NSE's Nifty50 fell 17.35 points, or 0.09 per cent, to end the day at 19,794 for the day.

A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exchanges. He accuses TDPS of insufficient disclosure concerning shareholder agreements.

Top stock picks for today: Deven R Choksey on Monday told BT TV that if the economy has to move to $5 trillion mark in the next 3 to 5 years, banking and finance companies with a larger balance sheet would remain extremely effective preposition.

The 30-share BSE Sensex pack rose 151 points or 0.23 per cent to trade at 65,872, while the broader NSE Nifty moved 44 points or 0.23 per cent up to trade at 19,561. Mid- and small-cap shares were positive as Nifty Midcap 100 climbed 0.11 per cent and small-cap gained 0.49 per cent.

Promoter entity Fortitude Trade and Investment offloads entire 3.39 crore shares or 3.04 percent stake in Adani Transmission at an average price of Rs 786.17 per share, which amounted to Rs 2,666.5 crore.