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:
Bajaj Auto, L&T Technology Services, Aditya Birla Money, South Indian Bank, CRISIL, Accelya Solutions India, Aditya Forge, Citizen Infoline, Hi-Tech Winding Systems, Himadri Speciality Chemical, Mphasis, Nutraplus India, Pasari Spinning Mills, Pondy Oxides & Chemicals, Rajnish Wellness, Sai Industries, Saptak Chem and Business, Shah Metacorp, Tips Music, and Vivid Mercantile will announce their quarterly earnings on October 16.
KEI Industries Q2 (Consolidated YoY)
Profit increases 10.4% to Rs 154.8 crore Vs Rs 140.2 crore
Revenue rises 17.2% to Rs 2,279.6 crore Vs Rs 1,944.9 crore
EBITDA grows 9.1% to Rs 220.6 crore Vs Rs 202.2 crore
Margin drops to 9.7% Vs 10.4%
Company to raise up Rs 2,000 crore via qualified institutions placement (QIP)
Rallis India Q2 (YoY)
Profit grows 19.5% to Rs 98 crore Vs Rs 82 crore
Revenue increases 11.5% to Rs 928 crore Vs Rs 832 crore
EBITDA jumps 24.8% to Rs 166 crore Vs Rs 133 crore
Margin expands 190 bps to 17.9% Vs 16%
Madhya Bharat Agro Products Q2 (YoY)
Profit falls 7.3% to Rs 13.84 crore Vs Rs 14.9 crore
Revenue declines 0.06% to Rs 278.3 crore Vs Rs 278.5 crore
Alok Industries Q2 (Consolidated YoY)
Loss at Rs 262.1 crore Vs loss of Rs 174.8 crore
Revenue falls 35.5% to Rs 885.7 crore Vs Rs 1,372.3 crore
Stocks To Watch
The Government of India will be selling a 5% stake in Cochin Shipyard via the offer-for-sale (OFS) route. The floor price has been fixed at Rs 1,540 per share. The OFS includes a base offer size of 2.5% and a green shoe option of 2.5%. The issue will open for non-retail investors on October 16 and for retail investors on October 17.
The company has received Letters of Acceptance from the Maharashtra State Road Development Corporation (MSRDC) for two EPC road projects worth Rs 4,630 crore. The projects involve the construction of an access-controlled Pune ring road from Indori to Chimbali and an access-controlled expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg from Jalna to Nanded in Maharashtra, on an EPC basis.
The company has received a Letter of Acceptance from the Maharashtra State Road Development Corporation for a project worth Rs 1,885.63 crore. The project involves the construction of an access-controlled Pune ring road in the Pune district, package PRR W5, from village Kalyan/Rathwade to village Shivare/Kusgaon in Maharashtra, on an EPC basis.
The company has received a Letter of Award for a solar power developer (SPD) for solar photovoltaic power generating stations with a total capacity of 32 MW (AC) under Component C of the PM-KUSUM scheme. Its scope of work will include power generation, while the Maharashtra State Electricity Distribution Company will purchase the power generated from the project for 25 years from the scheduled commercial operation date.
The non-banking financial company has launched its Rooftop Solar Finance product under MSME loans. It has partnered with Credit Fair, a renewable energy fintech, to onboard customers digitally to avail loans and aims to build a separate loan book of Rs 1,000 crore in the coming years.
The company has transferred two wholly owned subsidiaries of PFC Consulting—Jamnagar Transmission and Navinal Transmission—to Adani Energy Solutions for Rs 19.3 crore and Rs 19.14 crore, respectively. PFC Consulting is a subsidiary of Power Finance Corporation. Jamnagar Transmission was established for the development of a network expansion scheme in Gujarat for the drawl of about 3.6 GW load under Phase-I in the Jamnagar area, and Navinal Transmission was established for the development of a network expansion scheme in Navinal (Mundra), Gujarat, for the drawal of power in the area.
The company has received an order from the Maharashtra State Electricity Distribution Company for a 25-year Power Purchase Agreement (PPA) for solar photovoltaic power generating stations with a capacity of 124 MW (AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.
The company has received a work order from the Maharashtra Housing and Area Development Authority for a project amounting to Rs 79.84 crore. The project involves selecting a service provider (cloud hosting and managed service) to set up, migrate, and manage a data center and disaster recovery site for MHADA on the cloud.
The company has launched two Unlicensed Band Radio (UBR) products, which include (a) a 1 Gbps small form factor 4G/5G backhauling radio offering unprecedented spectral and power efficiency, and (b) an energy-efficient 2 Gbps point-to-multipoint rural connectivity UBR.
Oil and Natural Gas Corporation
ONGC Petro additions (OPaL) has allotted 559.48 crore equity shares to ONGC via a rights issue. After this allotment, the shareholding of the company has increased from 91.16% to 94.04% for Rs 5,594.8 crore.
The company's subsidiary, LTIMindtree GmbH, and step-down subsidiary, Nielsen + Partner Unternehmensberater GmbH in Germany, have merged, effective October 2. Following the merger, Nielsen + Partner Unternehmensberater GmbH has been deregistered.
The Competition Commission of India has approved the proposed acquisition of 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life Insurance by Central Bank of India.
Bulk Deals
Garuda Construction and Engineering
Societe Generale sold a 0.77% stake in the construction engineering company at an average price of Rs 105 per share.
Foreign portfolio investor Smallcap World Fund Inc sold a 1.7% stake in the company at an average price of Rs 2,801.68 per share, valued at Rs 148.5 crore. However, Aalidhra Textool Engineers bought a 0.65% stake in Mastek at an average price of Rs 2,800.81 per share.
Zeta Global Funds (OEIC) PCC Limited - Zeta Series B Fund PC offloaded a 7.1% stake in the company at an average price of Rs 14.31 per share.
JM Financial Asset Reconstruction Company sold a 0.83% stake in the company at an average price of Rs 95.77 per share.
Stock Trades Ex-Date for Split
Pondy Oxides & Chemicals
Stock Turns Ex-Dividend
NRB Bearings
Stock Trades Ex-Date for Amalgamation
TV18 Broadcast
F&O Ban
Bandhan Bank, L&T Finance, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, IDFC First Bank, Indian Energy Exchange, Manappuram Finance, National Aluminium Company, Punjab National Bank, RBL Bank, SAIL, Tata Chemicals
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