Stock to Watch Today - Rupeedesk Reports - 03.10.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Auto stocks, Cipla, Fortis, Aurobindo, JSW Infra, Vaibhav Jewellers & others in news.
Maruti Suzuki India: India's largest car maker has received a show-cause notice from the GST Authority, proposing to demand interest and impose penalty. This comes besides appropriating tax already paid amounting to Rs 139.3 crore in matter of tax liability under reverse charge basis on certain services. The India's largest car maker has sold 181,343 units in September 2023, rising 2.85 percent over 1.76 lakh units sold in same month last year. Total sales in the month included domestic sales of 1,53,106 units, which grew by 2.5 percent during the same period. During April-September 2023, Maruti recorded a total sales of 10,50,085 units. For the first time, it surpassed half-yearly sales mark of 1 million units.
Adani Total Gas: Ahlem Friga-Noy has resigned as nominee director of TotalEnergies on the board of the company with effect from September 30, 2023, due to restructuring of directorship/nominees of TotalEnergies Group in India. TotalEnerges has nominated new nominee director in place of Ahlem’s. The proposal for appointment of new nominee director will be placed before the Nomination & Remuneration Committee and Board of the company, in due course.
Mahindra & Mahindra: The company sold 75,604 vehicles in the month of September including exports displaying a growth of 17 percent over same month last year. Its passenger vehicle sales in the domestic market stood at 41,267 vehicles, up 20 percent YoY, while tractors sales dropped 11 percent YoY to 43,210 units with domestic sales down 11 percent to 42,034 and exports declining 27 percent to 1,176 units during the same period.
Tata Motors: The Tata Group company has announced total domestic sales of 82,023 units, increasing 2 percent over a year-ago period, while total commercial vehicle sales increased by 12 percent YoY to 39,064 units.
Eicher Motors: Royal Enfield sales in the month of September fell 4 percent YoY to 78,580 units, with exports declining 49 percent YoY to 4,319 units, while commercial vehicle sales increased 8.6 percent to 7,198 units during the same period.
Coal India: The coal supply increased by 12.6 percent YoY to 55 million tonnes in September 2023, and output during the same period jumped by 12.6 percent to 51.4 million tonnes. It produced about 333 million tonnes of coal ending first half of the current financial year posting a strong 11.3 percent YoY growth, and supplies jumped 8.6 percent YoY to 360.7 million tonnes during the same period.
Ramkrishna Forgings: The forging company has received board approval for raising of funds up to Rs 1,000 crore via issuance of equity shares through qualified institutional placement (QIP). Further, the board of directors approved conversion of warrants and allotment of 46 lakh equity shares on exercise of 46 lakh warrants, upon receipt of Rs 70.72 crore at the rate of Rs 153.75 per warrant (being 75 percent of the warrant issue price) from the warrant holders.
Karur Vysya Bank: The lender has announced advances for the quarter ended September FY24 at Rs 70,446 crore growing 15.3 percent over a year-ago period and deposits during the same period increased by 13.2 percent to Rs 83,068 crore, while CASA grew by 3.4 percent YoY to Rs 26,795 crore in Q2FY24.
Hindustan Zinc: The company announced mined metal production in Q2FY24 at 252kt, marginally down by 1 percent YoY mainly due to lower ore production at Rampura Agucha & Kayad mine partly offset by better overall metal grades. Refined metal production in second quarter fell 2 percent YoY to 241kt on account of scheduled maintenance activity. Integrated zinc production at 185kt fell 2 percent YoY, and refined lead production at 57kt was flat compared to Q2FY23. Wind power generation for Q2FY24 was 157 MU, up 27percent YoY owing to higher wind velocity & seasonality impact.
TVS Motor Company: The company announced total sales for September 2023 at 4.02 lakh units, growing 6 percent over 3.79 lakh units sold in same month last year. The two-wheeler sales increased by 7 percent YoY to 3.86 lakh units and exports jumped 8 percent to 1 lakh units, but three-wheeler sales dropped 9.7 percent to 15,598 units during the same period.
Granules India: The pharma company has received approval from the US Food & Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Losartan Potassium and Hydrochlorothiazide tablets. It is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Hyzaar tablets of Organon LLC. Losartan potassium and hydrochlorothiazide tablets are indicated for the treatment of hypertension to lower blood pressure and to reduce the risk of stroke in patients with hypertension and left ventricular hypertrophy.
Hero MotoCorp: The world's largest two-wheeler maker has decided to make a marginal revision in the ex-showroom prices of select motorcycles and scooters, effective from October 3, 2023. The price increase will be around 1 percent and the exact quantum of increase will vary based on specific models and markets. This price revision is part of company's regular review of product competitiveness and positioning, factoring inflation, margins and market share.
Godrej Agrovet: The company will be setting up an integrated palm oil complex in Telangana and will invest Rs 300 crore over the next 3-4 years. It will also establish a nursery with a capacity of up to 7 lakh saplings per year in addition to the seed production & research unit.
Blue Dart Express: The logistics company has announced its general price increase with effect from January 1, 2024. The average shipment price increase will be a 9.6 percent compared to 2023, dependent on the shipping profile. Customers signing up from October 1 to December 31 this year will not be impacted by price increase.
Aurobindo Pharma: The United States Food and Drug Administration (US FDA) has inspected Unit VI - B, a formulation manufacturing facility of the company, in Telangana, during September 22 to September 29 this year. After the inspection, a Form 483 was issued with 1 observation to the said facility, which is procedural in nature.
Fortis Healthcare: Subsidiary Agilus Diagnostics has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India, for fund raising via initial public offering. The board of directors of Fortis had given the approval for initiation of IPO process on August 4.
Atul Auto: The cargo vehicle maker sold 2,662 units in the month of September, growing 18.1 percent over 2,254 units sold in same month last year. In the financial year-to-date period, sales stood at 10,465 units, down 7.46 percent YoY.
Vedanta: India's largest diversified natural resources company announced a plan to demerge its business units into independent pure play companies, in order to unlock value and attract big ticket investment into the expansion and growth of each of the businesses. It has received the board approval for a pure-play, asset-owner business model that will result in six separate listed companies namely: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta. The de-merger is planned to be a simple vertical split, for every 1 share of Vedanta, the shareholders will additionally receive 1 share of each of the 5 newly listed companies.
VST Tillers Tractors: The company announced total sales at 2,627 units in September 2023, down 1 percent compared to the 2,656 units sold in same month last year. Power tillers sales at 2,092 units increased by 1.06 percent, but tractors sales dropped 8.7 percent YoY to 535 units.
Rail Vikas Nigam: RVNL emerged as the lowest bidder for the development of distribution infrastructure at South Zone of Himachal Pradesh, under the Revamped Reforms based and Results-linked Distribution Sector Scheme (loss reduction works). The said project is worth Rs 1,098 crore and it will be executed within 24 months.
AstraZeneca Pharma: The company has appointed Bhavana Agrawal as Chief Financial Officer with effect from October 1. Rajesh Marwaha will retire as the Chief Financial Officer and Wholetime Director of the company with effect from September 30.
Lemon Tree Hotels: Lemon Tree Hotels has signed a franchise agreement for a new hotel property - Lemon Tree Resort Somnath in Gujarat. The property is expected to open in FY25.
Cipla: The pharma firm has divested its 51 percent stake held in UAE-based Saba Investment for $6 million. Accordingly, Saba and its subsidiaries viz Cipla Middle East Pharmaceuticals FZ LLC, UAE and Cipla Medica Pharmaceutical and Chemical Industries, Yemen, have now ceased to be subsidiaries of Cipla.
JSW Infrastructure: India's second largest commercial port operator will make its debut on the bourses in the T+3 timeline on October 3. The final issue price has been fixed at Rs 119 per share, while the date of allotment of IPO shares was set as September 28.
SML Isuzu: The company has decided to increase the prices of its vehicles (both trucks & buses) with effect from October 1, to cover the increase in input cost due to implementation of the Fire Alarm and Protection System (FAPS) and also general inflation. The price of all buses & trucks increased in the range of Rs 20,000-30,000, and all school buses in the range of Rs 1.95 lakh – 2.45 lakh. In September 2023, the company sold 872 units, rising 16 percent over a year-ago period.
Indus Towers: Indus Towers has signed an agreement with IOC Phinergy (IOP) for deployment of 300 zero-emission energy systems based on aluminium-air technology, to optimize diesel consumption at Indus’ telecom tower sites. This development accelerates Indus Towers’ progress towards its sustainability priorities. IOC Phinergy will supply 300 energy systems which will be deployed in the next few quarters as a pilot project.
Kalpataru Projects International: The EPC company and its international subsidiaries have secured new orders amounting to Rs 1,016 crore, including orders in the transmission & distribution business of Rs 552 crore.
Mahanagar Gas: The natural gas distribution company announced reduction in the retail price of compressed natural gas (CNG) by Rs 3 per kg and domestic PNG (piped natural gas) by Rs 2 per SCM in and around Mumbai.
Vaibhav Jewellers: The Andhra Pradesh-based jewellery retailer has preponed its listing date to October 3, from October 6 earlier, making the debut in T+3 timeline. The issue price has been finalised at Rs 215 per share, while the date of allotment of IPO shares was September 28.
Infibeam Avenues: The fintech company has sent a proposal to license & support its base marketplace intellectual property to government e-Marketplace (GeM), the online public procurement platform of Government of India.
Eris Lifesciences: The company has entered into term loan agreement to avail the rupee term loan facility amounting to Rs 212 crore from HDFC Bank. However, the consolidated net debt of the Company is not expected to be altered due to this development, as an equivalent amount is expected to be paid by Eris Oaknet Healthcare to the bank towards repayments of outstanding loans over the next fortnight.
Butterfly Gandhimathi Appliances: Ananda Shalini has resigned as Chief Financial Officer (CFO) of the company, to pursue opportunities outside the company. She will be relieved from her duties effective October 20.
Indian Hotels: The company has issued a corporate guarantee of 10.05 million euro in favour of lessor Diana Hotel till June 14, 2045, for the lease agreement entered into for a hotel in Frankfurt.
Saakshi Medtech and Panels: The company will list its equity shares on the NSE Emerge on October 3. The issue price is set at Rs 97 per share. Its equity shares will be available for trading in trade-for-trade segment.
Bhageria Industries: The company has received a Letter of Award (LoA) from Paranjape Autocast, for the execution of engineering, procurement and construction (EPC) works of a ground mounted solar power project of 4.5 :MW (AC)/ 6.0 :MWp (DC) capacity with 10 year's comprehensive operation & maintenance. This project has a cumulative order value of Rs 27.70 crore (including comprehensive O&M).
Kothari Fermentation & Biochem: Ace investor Ashish Chugh has picked 1 lakh shares, which is equivalent to a 0.67 percent shareholding, in the yeast-based products company via open market transactions at an average price of Rs 67.03 per share.
Tube Investments of India: Promoter entity Ambadi Enterprises exited the company by selling its entire personal shareholding of 10.58 lakh shares in the Murugappa Group company via open market transactions at an average price of Rs 2,904.6 per share, amounting to Rs 307.4 crore. However, SBI Mutual Fund was the buyer, acquiring 12.04 lakh shares or 0.62 percent stake in the company, at an average price of Rs 2,900 per share, which was worth Rs 349.4 crore.
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