Stock to Watch Today - Rupeedesk Reports - 05.07.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: SBI, BHEL, LTIMindtree, Aurobindo Pharma, Lupin, others in focus.
State Bank of India: The country's largest lender has received approval from its Executive Committee of the Central Board (ECCB) for acquiring the entire stake held by SBICAPS in SBICAP Ventures, subject to receipt of all regulatory approvals. SBICAPS is a wholly owned subsidiary of SBI. The estimated cost of capital for the said acquisition will be Rs 708.07 crore.
LTIMindtree: The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to exclude HDFC and include LTIMindtree in the Nifty50 with effect from July 13. Jindal Steel & Power is going to replace HDFC in the Nifty 100 index and LTIMindtree in Nifty Next 50 index, while Mankind Pharma will replace HDFC in the Nifty 500 index and Jindal Steel & Power in Nifty Midcap 150 index. LIC Housing Finance will replace HDFC in Nifty Financial Services index.
Indian Oil Corporation: The oil marketing company said its the meeting of its board of directors will be held on July 7 to consider raising of capital through right issue of equity shares.
Aurobindo Pharma: Aurobindo Pharma will be in focus as its subsidiary CuraTeQ Biologics announced positive result in phase 3 clinical trial for its proposed Trastuzumab biosimilar product. Trastuzumab is a breast cancer biosimilar product, BP02.
Lupin: The pharma company has received tentative approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA), Dolutegravir tablets for oral suspension. The company will market a generic equivalent of Tivicay PD tablets for oral suspension, which are available in 5 mg strength, of ViiV Healthcare Company, in the United States.
Bandhan Bank: The private sector lender said its loans & advances in quarter ended June FY24 grew by 6.7% YoY to Rs 1.03 lakh crore, but fell by 5.5% QoQ. Total deposits increased by 0.4% QoQ and 16.6% YoY to Rs 1.08 lakh crore. Retail deposits at Rs 77,239 crore rose by 5.9% YoY and bulk deposits increased by 55.4% YoY to Rs 31,240 crore. Sunil Samdani has resigned as Chief Financial Officer (CFO) of the bank to explore professional opportunities outside the bank. His last working day as the CFO would be September 30, 2023.
Bharat Heavy Electricals: BHEL has extended its gas turbines technology agreement with General Electric Technology GmbH Switzerland. BHEL in partnership with GE is the market leader for gas turbines in India. With BHEL-GE partnership in place since 1986, BHEL has been manufacturing and supplying GE designed gas turbines in domestic as well as overseas market.
Lemon Tree Hotels: The company has signed a License Agreement for a 48-room property in Udaipur, Rajasthan under its brand Keys Select by Lemon Tree Hotels. The hotel is expected to be operational by Q4 FY2024. Its subsidiary Carnation Hotels will be operating this hotel.
AU Small Finance Bank: The small finance bank has announced a 27% year-on-year growth total deposits at Rs 69,315 crore for quarter ended June FY24. Gross advances grew by 29% to Rs 63,635 crore in same period, while CASA deposits rose by 14% to Rs 24,286 crore.
Macrotech Developers: The real estate developer has recorded pre-sales at Rs 3,350 crore for quarter ended June FY24, growing 17% over a year-ago period, but fell 11% sequentially. Collections in Q1 dropped 8% YoY and 18% QoQ to Rs 2,400 crore, impacted by seasonal factors (summer vacations and monsoon).
RBL Bank: The private sector lender said its total deposits in Q1FY24 grew by 8% year-on-year to Rs 85,638 crore and gross advances increased by 20% to Rs 74,792 crore. Retail advances grew 32% YoY while wholesale advances rose 8% YoY for the quarter.
Suzlon Energy: The wind & solar energy solutions provider said its board of directors will meet on July 7 to consider capital raising via one or more or combination of permissible methods and seek approval of the shareholders, if required.
Som Distilleries & Breweries: The board members of the company will meet on July 8 to consider fund raising by issuing convertible equity warrants to promoters and/or other prospective investors on preferential basis. The funds will be used for the capex and working capital requirements of the company.
Samvardhana Motherson International: The auto ancillary company via its 100% subsidiary SMRP BV has entered into an agreement to acquire 81% stake in Yachiyo’s 4W (Y4W) business housed under Yachiyo Industry Co Ltd. Honda Motor currently owns 50.4% stake in listed Yachiyo, and the rest is owned by the public. The 100% stake of Yachiyo’s 4W business is valued at JPY22.9 billion.
Minda Corporation: Europe-based financial services group Societe Generale has bought 17.28 lakh equity shares in the auto components manufacturer via open market transactions at an average price of Rs 281 per share. The stake buy is amounted to Rs 48.57 crore.
Shree Pushkar Chemicals & Fertilisers: The company said it has commenced commercial production at its unit 5 at MIDC Ratnagiri plant, Maharashtra, with effect from July 4, for all products and plants. The new facility has production capacity of 66,000 MTPA for sulphur chemistry and its derivatives and 7200 MTPA for dyes intermediates. The unit 5 will augment company’s dyes and dyes intermediates supply.
TCNS Clothing: Foreign portfolio investor Elevation Capital VI FII Holdings has sold 12.96 lakh equity shares or 2.1% stake in the women's apparel company via open market transactions at an average price of Rs 410.01 per share. The stake sale amounted to Rs 53.15 crore. Elevation was holding 5.37% stake in the company as of March 2023.
Syngene International: Syngene announced the acquisition of Unit 3 biologics manufacturing facility in Bangalore, from Stelis Biopharma (SBL), on a slump sale basis for Rs 702 crore. The companies have entered into a binding term sheet and, on completion of the transaction, the site will add 20,000 liters of installed biologics drug substance manufacturing capacity for Syngene. The site has the potential for future expansion up to a further 20,000 liters of biologics drug substance manufacturing capacity. Stelis Biopharma is biopharmaceutical division of Strides Pharma Science.
HMA Agro Industries: Nomura Singapore has sold 4.66 lakh equity shares or 0.93% stake in the company at an average price of Rs 626.9 per share.
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