Stock to Watch Today - Rupeedesk Reports - 04.07.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Stocks To Watch Today | Auto marques, Glenmark Pharma, NMDC, and others in news today.
Maruti Suzuki India: The country's largest car maker announced production of 1.44 lakh vehicles in June 2022 as against 1.65 lakh units a year back. The shortage of electronic components had a minor impact on the production of vehicles last month, it said.
Mahindra & Mahindra: The automotive company sold 54,096 vehicles in June 2022, a growth of 64 percent over 32,964 vehicles sold in same month last year, while exports for the month were at 2,777 vehicles, an increase of 7 percent YoY. It sold 41,848 tractors in June, a fall of 13 percent compared to 48,222 units sold a year ago.
NMDC: The mineral producer announced production of 2.57 million tonnes of iron ore in June 2022, declining from 2.98 million tonnes a year back, while sales dropped to 1.9 million tonnes in June 2022, from 3.18 million tonnes in the same month last year.
Bharat Forge: The company and its subsidiary successfully completed acquisition of JS Auto Cast Foundry India. The enterprise value of the transaction is Rs 489.63 crore.
Muthoot Finance: The Reserve Bank of India has granted permission for opening 150 new branches for the company. It now has more than 5,443 branches across India.
TVS Motor Company: The company registered a growth of 22 percent in June 2022 with sales of 3,08,501 units as against 2,51,886 units a year back, including two-wheelers sales of 23 percent YoY at 2,93,715 units in June 2022. Total exports grew by 8 percent YoY to 1,14,449 units in June 2022.
3i Infotech: After receiving regulatory approvals, the company has completed a sale of the software product business of its subsidiary in Thailand on a going concern basis to Azentio Software. The transaction is as per the business transfer agreement executed between the company and the buyer in December 2020.
MTAR Technologies: Investor Fabmohur Advisors LLP has further sold 1.13 lakh shares or 0.37 percent stake in the defence company via open market transactions on June 29-30. With this, its shareholding in the company further reduced to 0.42 percent, down from 0.79 percent earlier.
Ashoka Buildcon: A joint venture led by Ashoka Buildcon emerged as 'the lowest bidder' for construction and maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur. The project cost is Rs 611 crore and construction period is 18 months from commencement date. Ashoka formed the joint venture in partnership with Cube Construction Engineering, with 65 percent holding in it.
Selan Exploration Technology: The company announced change in management. Vijay Kirpal has resigned as Chief Financial Officer (CFO) of the company with effect from June 30 and Rohit Kapur also resigned as Chairman and Whole- Time Director of the company. Suniti Kumar Bhat is appointed as an Additional Director and Managing Director of the company.
Eicher Motors: The company sold 61,407 units of Royal Enfield in June 2022, a growth of 43 percent over 43,048 units sold in same month last year, which included exports of 11,142 units that grew by 54 percent on-year. During the quarter, Eicher sold 1,87,205 units of Royal Enfield, up 51 percent over 1,23,640 units sold in same quarter previous year.
National Fertilizers: NFL has clocked a growth of 47 percent in total fertilizer sale during April-June 2022. The company reported total sale of 15.58 lakh million tonnes compared to 10.62 lakh million tonnes in corresponding period last year. A major push to sale growth has received from sale of non-urea fertilizers like DAP, bentonite sulphur, bio fertilizers, PDM and micro nutrients.
Endurance Technologies: Endurance has acquired 51 percent stake in Maxwell through a combination of primary issuance and secondary purchase. In May 2022, the company had informed about execution of Share Subscription and Purchase Agreement with shareholders of Maxwell Energy Systems, for acquiring 100 percent stake in a phased manner. Maxwell is in the business of embedded electronics particularly in battery management systems (BMS) for vehicles including electric vehicles (EV).
Take Solutions: Lalit Kanta Mahapatra has resigned as Chief Financial Officer of the company with effect from June 30.
CSB Bank: The private sector lender recorded a 16.16 percent on-year growth in gross advances at Rs 16,332.8 crore for the quarter ended June 2022 and total deposits grew by 8.65 percent to Rs 20,266.8 crore during the same period. Advances against gold and gold jewellery at Rs 7,099.33 crore, which is 43 percent of total advances, increased by 26.37 percent YoY in Q1FY23.
Mazagon Dock Shipbuilders: The company has successfully launched a fuel cell electric vessel (FCEV) prototype being the first indigenous hydrogen powered electric boat. The hydrogen boat prototype has been conceptualized and developed by Mazagon Dock with Tata Advanced Systems & Vijai Marine Services as technology partners.
Hero MotoCorp: The leading two-wheeler maker sold 4.85 lakh units of motorcycles and scooters in June 2022, a growth of 3.3 percent over 4.69 lakh units sold in the corresponding month of the previous fiscal. During the quarter ended June 2022, it sold 13.90 lakh units, a robust double-digit growth of 35.7 percent over 10.25 lakh units sold in same period last year.
Zee Media Corporation: Sudhir Chaudhary has resigned as Chief Executive Officer (CEO) of the company. After the same, the company has initiated process for nomination of Abhay Ojha, Chief Business Officer as a key managerial personnel in place of Sudhir Chaudhary.
Glenmark Pharmaceuticals: The USFDA has issued Form 483 with one observation after an inspection at the company's formulation manufacturing facility based out of Aurangabad, India between June 27 and July 1, 2022.
Phoenix Mills: CRISIL has reaffirmed its long term credit rating on company's bank loan facilities of Rs 400 crore at A+, but revised outlook to Positive from Stable. The outlook revision reflects strong recovery witnessed in the group performance, especially post the third wave, said the rating agency.
Computer Age Management Services: Smallcap World Fund, Inc has offloaded 9.75 lakh equity shares or 2 percent stake in CAMS via open market transactions on June 30. With this, its shareholding in the company stands reduced to 3.01 percent, down from 5.02 percent earlier.
Hemisphere Properties India: Tata Sons Pvt Ltd has sold 59.85 lakh equity shares or 2.1 percent stake in the company via open market transactions during June 28-29. With this, Tata Sons' shareholding in the company reduced to 11.97 percent, down from 14.07 percent earlier.
CIL Nova Petrochemicals: The company has announced temporary shutdown of its operations of manufacturing plant at Sanand, Ahmedabad due to maintenance work of captive power plant from July 1. There would not be any material impact and there is a sufficient inventory to service the sales orders in hand.
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