Stock to Watch Today - Rupeedesk Reports - 18.10.2024
Stock to Watch Today - Rupeedesk Reports
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks : Infosys, Wipro, Axis Bank, LTIMindtree, Zomato, MGL, IGL, Polycab, Tata Chemicals in focus on Friday.
Results Today : Tata Consumer Products, Jio Financial Services, ICICI Lombard General Insurance Company, Zee Entertainment Enterprises, Aether Industries, L&T Finance, Manba Finance, Mastek, Jindal Saw, Oberoi Realty, Hindustan Zinc, Tejas Networks, Kesoram Industries, Ashapuri Gold Ornament, Benares Hotels, Best Agrolife, Duncan Engineering, Elecon Engineering, Ganesh Housing Corporation, GNA Axles, Indostar Capital Finance, Mangalore Refinery & Petrochemicals, Mudra Financial Services, Ponni Sugars (Erode), Sarveshwar Foods, Supreme Infrastructure India, and Tree House Education will release quarterly earnings scorecard on October 18.
Results on October 19 : HDFC Bank, Kotak Mahindra Bank, Tech Mahindra, RBL Bank, Dalmia Bharat, UCO Bank, IndiaMART InterMESH, Multi Commodity Exchange of India, Netweb Technologies India, PC Jeweller, Punjab & Sind Bank, Rossari Biotech, Seshasayee Paper & Boards, SM Auto Stamping, Trident Lifeline, Eiko Lifesciences, High Energy Batteries, and Lloyds Engineering Works will announce quarterly numbers on October 19.
Kotak Mahindra Bank : The private sector lender has reduced its savings account interest rates by 50 basis points for account balances under Rs 5 lakh, bringing the new rate to 3%, down from the previous 3.5%, reports CNBC-TV18. Earlier, the bank offered two slabs for savings account interest rates: 3.5% for account balances below Rs 50 lakh and 4% for balances above Rs 50 lakh. The savings account rate slabs for balances above Rs 5 lakh remain unchanged.
Zomato : The Board will meet on October 22 to consider raising funds via a qualified institutional placement (QIP) issue and to review the unaudited financial results for the quarter and half year ended September 2024.
Reliance Industries : Reliance Brands Holding UK, a wholly-owned subsidiary of Reliance Brands, has deepened its partnership with Mothercare Plc by forming a new joint venture that will own the Mothercare brand and its intellectual property assets across India, Nepal, Sri Lanka, Bhutan, and Bangladesh. Reliance Brands first acquired the rights to the UK-based Mothercare brand for the Indian market in 2018. Reliance Brands Holding will hold a 51% stake in the new joint venture, while Mothercare will own a 49% interest.
Nitco : The company has entered into a one-time settlement (OTS) with Life Insurance Corporation of India (LIC) for its debt facilities. LIC has approved the OTS proposal, and accordingly, the company paid the one-time settlement amount on October 16 towards its entire dues outstanding with LIC.
Adani Enterprises : The company has completed the Qualified Institutional Placement (QIP) amounting to Rs 4,200 crore ($500 million). The proceeds from the QIP will be utilized for funding capital expenditure, debt repayment, and general corporate purposes.
Aether Industries : The company has executed and commissioned another 5 MW solar power project (auto-tracker modules) facility out of the total 15 MW solar power project. With this, a cumulative 10 MW is now operational. The remaining execution is scheduled to be completed in the coming month.
Zydus Lifesciences : The pharma company has received final approval from the United States Food and Drug Administration (USFDA) to manufacture Fludrocortisone Acetate tablets USP, 0.1 mg. Fludrocortisone acetate tablets are used as partial replacement therapy for primary and secondary adrenocortical insufficiency in Addison's disease and for the treatment of salt-losing adrenogenital syndrome.
Coromandel International : The company has incorporated its wholly-owned subsidiary, Coromandel Vietnam Company, in Vietnam. The subsidiary will help the company carry out export, import, wholesale, and retail distribution of agricultural inputs such as crop nutrition, crop protection chemicals, and bio-products.
Indraprastha Gas (IGL) : According to communication from GAIL India (the nodal agency for domestic gas allocation), there has been a major reduction in domestic gas allocation to Indraprastha Gas effective October 16. The revised domestic gas allocation to the company is approximately 21% less than the previous allocation, which will adversely impact its profitability. The company is in discussion with key stakeholders to minimize the impact.
Mahanagar Gas (MGL) : The CNG transport allocation to the company has been reduced by 20%, effective October 16, compared to the previous average quarterly APM allocation. This major reduction in allocation will have an adverse impact on the company's profitability. To bridge this shortfall, the company is exploring options for sourcing gas through domestically produced high pressure high temperature (HPHT) gas, new well/well intervention gas (NWG) from ONGC, and benchmark-linked long-term gas contracts.
Mahanagar Telephone Nigam : Punjab and Sind Bank has classified the accounts of MTNL as non-performing assets (NPA), effective October 8.
Network People Services Technologies (NPST) : The Board has appointed Deepak Chand Thakur as Chief Executive Officer of the company, effective October 17. Before becoming CEO, Deepak Chand Thakur was the Chairman and Managing Director of the company. Furthermore, the Board has sought member approval for migrating the company from the NSE Emerge SME exchange to the main board of the National Stock Exchange (NSE) and simultaneously to the BSE.
F&O Ban : Bandhan Bank, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange, L&T Finance, Manappuram Finance, National Aluminium Company, Punjab National Bank, RBL Bank, SAIL, Tata Chemicals.
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