Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, fund raising and appointments, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
The bank recorded a global business of Rs 25.06 lakh crore in the quarter ended September 2024, reflecting a growth of 10.23% over the same period last year. Global deposits during the quarter increased by 9.11% year-on-year (YoY) to Rs 13.63 lakh crore, while advances jumped 11.60% YoY to Rs 11.43 lakh crore. Domestic deposits grew by 7.14% YoY to Rs 11.50 lakh crore, and advances increased by 12.51% to Rs 9.39 lakh crore.
The customer franchise increased sharply to 92.09 million as of the September 2024 quarter, compared to 76.56 million as of the September 2023 quarter. Assets under management (AUM) grew by 29% to Rs 3,73,900 crore in Q2 FY25, while new loans booked increased by 14% to 9.69 million, and the deposits book rose by 21% to Rs 66,100 crore. Net liquidity surplus stood at Rs 20,100 crore as of September 2024.
Mahindra & Mahindra Financial Services
In Q2 FY25, the company estimated overall disbursements at Rs 13,160 crore, a YoY decline of 1% over the previous year. Collection efficiency remained flat at 96% for Q2 FY25 compared to the same quarter last year. Stage-3 assets are estimated at about 3.8% as of September 2024, down from 4.3% in September 2023, while Stage-2 assets are at around 6.4%, up from 5.7% in the same period. The company continued to maintain a comfortable liquidity position, with a liquidity chest of over Rs 8,500 crore.
The operator of DMart recorded standalone revenue of Rs 14,050.32 crore for the September 2024 quarter, growing 14.2% compared to Rs 12,307.72 crore in the corresponding period last year. The total number of stores stood at 377 as of September 2024.
The Medicines and Healthcare products Regulatory Agency, United Kingdom (UK MHRA), has issued a certificate of GMP compliance for the manufacturing facility of the company's subsidiary Pinnacle Life Science at Baddi, Himachal Pradesh.
The company's subsidiary, Shilpa Pharma Lifesciences, has received a Certificate of Suitability (CEP) from the European Directorate for the Quality of Medicines & Healthcare (EDQM) for the API Desmopressin. Desmopressin is used to reduce frequent urination and excessive thirst and is prescribed to treat central diabetes insipidus and bedwetting.
Purvah Green Power, a subsidiary of CESC, has entered into a binding term sheet with Bhojraj Renewables Energy (BREPT) for securing connectivity approval and land acquisition, including relevant permits and approvals, for a 300 MW wind project and a 150 MW solar project. The subsidiary will also acquire the entire shareholding of Bhojraj Renewables Energy from its shareholders for Rs 108.56 crore.
The board has approved the acquisition of a US-based entity through its wholly owned subsidiary, Cyient DLM Inc.
The company has proposed to raise funds up to Rs 927.81 crore via a preferential issue of equity and convertible warrants to certain investors. The funds will be utilised for investments in subsidiary companies, capital expenditures, working capital needs, repayment of existing loans, and general corporate purposes.
The company launched its Qualified Institutions Placement (QIP) issue on October 3, with the floor price fixed at Rs 2,320.78 per share.
The largest pure-play electric vehicle company launched its "BOSS - Biggest Ola Season Sale" campaign for the festive season. As part of the campaign, it announced entry-level pricing for its S1 portfolio at Rs 49,999. Additionally, it introduced festive benefits of up to Rs 40,000.
The board has approved raising up to $500 million (Rs 4,200 crore) via unsecured, 10-year foreign currency convertible bonds (FCCBs) on a private placement basis, with a 5% annual interest rate. The FCCBs will be issued to affiliates of Värde Investment Partners, LP. The board also approved an Employee Stock Option Scheme (ESOS) for all eligible employees of the company.
The exchange announced that weekly index derivatives contracts on Sensex 50 and Bankex will be discontinued, effective November 14 and November 18, respectively. No new weekly contracts will be generated after the expiry of existing unexpired contracts, which will continue until their respective expiry dates.
R Rajesh has been appointed as the Functional Head of Credit & Prepaid Cards Wing of the bank, effective October 3. He was the General Manager at the time of his appointment.
Luggage products maker VIP Industries has partnered with Unicommerce to streamline its post-purchase eCommerce operations. The collaboration will enable VIP Industries to process orders faster across various online channels using a single integrated dashboard.
The oil retailer has signed a B2B Framework Agreement with Nepal Oil Corporation for major petroleum infrastructure development in Nepal.
Shareholders approved the re-appointment of Kedarmal Shankarlal Bankda as the Executive Chairman/Whole-time Director and Vijay Shankarlal Bankda as the Managing Director of the company for two years, effective May 2, 2025, and November 29, 2024, respectively.
Amit Dhuria has resigned as Chief Financial Officer (CFO) of the company, effective October 15, due to the reshuffling of resources within the Group.
Hindustan Construction Company
The Zurich District Court has extended Steiner AG's provisional debt moratorium by four months, until February 7, 2025. The court has also authorized Steiner AG to conclude the asset transfer agreement for all real estate development projects, including the transfer of assets from Steiner AG to Steiner Development AG, a wholly owned subsidiary of Steiner AG. Steiner AG is a material Swiss subsidiary of HCC.
The company has entered into a manufacturing and supply agreement for advanced media gateway devices with a US-based brand.
The cybersecurity solutions provider has launched its fraud prevention solution, AntiFraud.AI, revolutionizing digital safety against the escalating threat of financial fraud.
The company's step-down, wholly owned subsidiary, Flex Asepto (Egypt) S.A.E, has decided to set up an aseptic packaging facility in Egypt. This facility will meet the demand for aseptic packaging in Egypt, Europe, the Middle East, and East Africa. The company will invest $126 million.
Bulk Deals
HDFC Mutual Fund has bought a 0.7% stake in the cement company at an average price of Rs 785 per share, amounting to Rs 66.25 crore.
Eris Lifesciences
Motilal Oswal Financial Services has bought a 1.5% stake in the company at an average price of Rs 1,350.18 per share, amounting to Rs 280.7 crore. However, investor Rakesh Shah sold a 1.47% stake at an average price of Rs 1,350 per share, valued at Rs 270 crore.
Macpower CNC Machines
Ambit Investment Advisors has bought a 0.95% stake in the company at an average price of Rs 1,296.81 per share. However, Urmiladevi Taparia sold 0.68% of shares at an average price of Rs 1,300 per share.
Block Deals
HDFC Bank
BNP Paribas Financial Markets sold 43.75 lakh equity shares in the private sector lender at an average price of Rs 1,726.2 per share, valued at Rs 755.3 crore, to Morgan Stanley Asia (Singapore) Pte and Citigroup Global Markets Mauritius. Morgan Stanley bought 17.5 lakh shares, and Citigroup Global acquired 26.25 lakh shares at the same price.
Results Today
Tolins Tyres
Mainboard Listing on October 4
Diffusion Engineers
SME Listing on October 4
Nexxus Petro Industries, Forge Auto International, Sahasra Electronics Solutions, Divyadhan Recycling Industries
Stocks Turn Ex-Dividend
Accelya Solutions, KPI Green Energy
Stocks Trade Ex-Bonus
Classic Electricals, Shikhar Leasing & Trading
Stocks Trade Ex-Date for Split
Godawari Power & Ispat, Real Eco-Energy
F&O Ban
Granules India, Manappuram Finance, Bandhan Bank, Birlasoft, Hindustan Copper, RBL Bank
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