Stock to Watch Today - Rupeedesk Reports - 12.10.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: TCS, RVNL, IndusInd Bank, Infosys, Adani Enterprises and others in news.
Adani Enterprises: The company has raised Rs 700 crore through the allotment of 70,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh each on a private placement basis.
Tata Consultancy Services: The country's largest IT services exporter has recorded an 8.7 percent on-year growth in profit at Rs 11,342 crore for the quarter ended September FY24, slightly ahead of analysts estimates due to better operating numbers. Revenue for the quarter grew by 7.9 percent YoY to Rs 59,692 crore, with a constant currency revenue growth of 2.8 percent, driven by energy, resources, utilities, and manufacturing segments. Operating margin at 24.3 percent expanded by 0.3 percent YoY. The company has announced an interim dividend of Rs 9 per share and order wins at $11.2 billion for the quarter, higher compared to $10.2 billion in the previous quarter. TCS has decided to buy back shares worth Rs 17,000 crore at a price of Rs 4,150 per share.
IndusInd Bank: The Reserve Bank of India has given its approval to SBI Mutual Fund for acquiring up to 9.99 percent of the paid-up share capital in IndusInd Bank. The RBI has advised SBI MF to acquire the said shareholding in the bank within a period of one year i.e. by October 10, 2024. Further, SBI MF must ensure that the aggregate holding in the bank does not exceed 9.99 percent of the paid-up share capital of the bank at all times.
Delta Corp: The casino gaming company has recorded a consolidated profit of Rs 69.44 crore for the quarter ended September FY24, rising 1.74 percent over a last year, impacted by a muted topline and operating performance. Revenue from operations stood at Rs 270.6 crore, increasing 0.2 percent YoY. The board of directors has appointed Anil Malani as president and CFO, and Manoj Jain as chief operating officer of the company with effect from October 11.
Rail Vikas Nigam: The state-owned railway company has emerged as lowest bidder for project worth Rs 28.73 crore from Northeast Frontier Railway. The project work includes supply, installation, testing and commissioning of integrated tunnel communication system in the Sukhovi-Pherima new single line section of Lumding division.
Cipla: The United States Food and Drug Administration (USFDA) has inspected the manufacturing facility of InvaGen Pharmaceuticals Inc., wholly owned subsidiary of the company in Central Islip, Long Island, New York. The company has received the EIR (Establishment Inspection Report) from the USFDA on the classification of this inspection as Voluntary Action Indicated (VAI).
Maruti Suzuki India: The country's largest car manufacturing company has started exporting its Jimny 5-Door. The vehicle will be shipped to Latin America, the Middle East, and Africa.
Larsen & Toubro: The infrastructure major has received an order from the Assistant Commissioner of CGST & CX, Gangtok Division, Gangtok, Sikkim, imposing a penalty of Rs 64.98 lakh under the Central Goods and Services Tax Act.
Patanjali Foods: The FMCG company said the edible oil segment faced ongoing pricing pressure during Q2 FY24, mainly due to excessive imports that led to elevated inventory levels, impacting both revenue and margins. The price trend observed in Q2 remained consistent with that of Q1, displaying divergent price fluctuations between the physical and futures markets. The firm registered an uptick in edible oil sales volume with a single-digit YoY growth in Q2 and achieved double-digit sequential growth in Q2 in the food and FMCG segments.
South Indian Bank: The Reserve Bank of India has approved the appointment of V. J. Kurian as the non-executive part-time chairman (independent director) of the bank with effect from November 2, 2023, to March 22, 2026. The appointment is in place of Salim Gangadharan, who will be retiring from his office as Non-Executive Part-Time Chairman (Independent Director) of the bank on November 1.
MIRC Electronics: Vikram Surendran has resigned as Chief Executive Officer of the company with effect from October 11, due to personal reasons.
PCBL: The RP-Sanjiv Goenka Group company has been granted two patents for invention, from the Indian Patent Office. One is for the process for treatment of carbon black and oxidised carbon black obtained thereof, which is in relation to the innovative process for modifications of specialty grade carbon blacks for inks and coating applications. The second patent is for surface modified carbon black grades to improve performance of rubber compounds, which is in relation to the innovative carbon black composition developed by the company to improve fuel efficiency and tyre life.
Plaza Wires: The wire and cables manufacturer is set to make its debut on the BSE and NSE on October 12. The issue price has been fixed at Rs 54 per share.
Pricol: The automotive components maker has entered into a co-operation agreement with Heilongjiang Tianyouwei Electronics. Both companies will closely work with each other through technology transfer and supply partnership in order to provide advance technologies in driver information system solutions for Indian vehicle makers across various vehicle segments.
MedPlus Health Services: The retail pharmacy chain has received approval from the board of directors to raise funds up to Rs 1,200 crore via issue of non-convertible debentures and warrants, in one or more tranches.
National Aluminium Company: The state-owned aluminium company has appointed Jagdish Arora as Director (Projects & Technical) with effect from October 11.
Grasim Industries: The Aditya Birla Group company said the Board of Directors will be meeting on October 16 to consider the raising of funds via equity shares or other securities through rights issue, qualified institution placement, preferential issue, or any other method.
EMS: The company has received a contract worth Rs 270.82 crore from the Office of Municipal Corporation, Jaipur Heritage. The contract work includes the laying, testing, and commissioning of sewerage systems and all ancillary works, along with one-year defect liability and ten years of operation and maintenance for towns.
Shilpa Medicare: The company has received approval from the Office of the Directorate of Ayurveda and Unani Services (a division of the Ministry of Aayush) for the manufacture and sale of oral mucositis spray in India under the brand name ORAAL. The composition of ORAAL is protected by a granted patent in India until November 2033.
Route Mobile: Subsidiary Route Mobile (Bangladesh) has partnered with Robi Axiata in Bangladesh as a technical enabler and sales partner for RCS (rich communication service) business messaging.
Laxmi Organic Industries: The chemicals manufacturer has raised Rs 259 crore through a qualified institution placement (QIP) of its equity shares. The Fund-Raising Committee of the firm has approved the allotment of 96.25 lakh equity shares at an issue price of Rs 269.20 per share.
Bhagiradha Chemicals: The Patent Office, the Government of India, has granted a patent titled “Novel Process for Preparation of Ethiprole” to Bhagiradha Chemicals and Industries for 20 years, with effect from January 12, 2021.
Sharp Chucks and Machines: The forging and graded casting machined component manufacturer will debut on the NSE Emerge on October 12. The offer price is Rs. 58 per share. Its equity shares will be available for trading in the trade-for-trade segment.
Timken India: Jamshedpur plant operations will be trimmed down from October 19 to 24 on account of physical verification of inventory and the Durga Pooja festival.
Shakti Pumps: The company has received approval from the Board of Directors to make an investment of Rs 114.29 crore in subsidiary Shakti EV Mobility, in one or more tranches, in the next five years.
Vivaa Tradecom: The clothes and garments manufacturing company will list equity shares on the BSE SME on October 12. The issue price is Rs. 51 per share. The stock will be seen in the trade-for-trade segment for 10 trading days.
Karnika Industries: The trading in garments manufacturing firm will commence on the NSE Emerge, with effect from October 12. The issue price is Rs 76 per share. Its equity shares will be available for trading in trade-for-trade segment.
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