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 company has received regulatory approvals, including approval from the Competition Commission of India, for the acquisition of Bharat Serums and Vaccines. In July 2024, the Share Purchase Agreement was executed between the company, Bharat Serums and Vaccines, the sellers (Ansamira and Miransa—affiliates of funds managed by Advent International), and certain minority shareholders (Bhaskar Iyer and Abhijit Mukherjee) for the acquisition of a 100% stake in Bharat Serums and Vaccines.
The pharmaceutical company has received tentative approval from the USFDA to manufacture Enzalutamide tablets in 40 mg and 80 mg strengths. Enzalutamide is used for treating castration-resistant prostate cancer and metastatic castration-sensitive prostate cancer.
The infrastructure company has received a letter of award for a project worth Rs 474.10 crore from MMRDA, involving the design and construction of an elevated road from Kalyan Murbad Road to Badlapur Road to Pune Link Road. Additionally, it has bagged two more letters of award for contracts worth Rs 1,264 crore, which include the design and construction of a creek bridge from Kolshet to Kalher, and another from Gaimukh to Payegaon.
Royal Enfield sales increased by 11% year-on-year to 86,978 units, exceeding analysts' estimates, compared to 78,580 units sold in September last year. Exports in September jumped by 77% to 7,652 units, compared to 4,319 units in the same month last year.
The two-wheeler major has announced sales of 6.37 lakh units in September 2024, beating analysts' estimates and growing by 18.7% over the 5.36 lakh units sold in the same month last year. Domestic sales increased by 18.6% year-on-year to 6.16 lakh units, and exports grew by 21.7% to 20,344 units during the month.
The country's largest carmaker recorded total sales of 1.84 lakh units in September 2024, marking a 1.9% increase from the 1.81 lakh units sold in the same month last year. Total domestic sales fell by 1.15% to 1.57 lakh units, as domestic passenger vehicle sales dropped by 3.9% to 1.45 lakh units. However, total exports jumped by 23.2% to 27,728 units compared to September 2023.
While demand trends showed some improvement, heavy rain and floods across parts of the country impacted out-of-home consumption and consumer offtake during Q2FY25. This led to some negative impact on its business, especially in the beverage category. The company is expected to post a mid-single-digit decline in consolidated revenue for the quarter, although its international business is expected to register double-digit constant currency growth in topline. The Badshah Masala business continued to perform well, growing in double digits in Q2. However, low primary sales will impact the company’s profitability in Q2, and the operating margin is expected to decline in the mid-to-high teens due to deleveraging and continued investments in brands.
The lender recorded gross advances at Rs 84,741 crore (provisional numbers) for Q2FY25, growing by 13.07% from Rs 74,947 crore in the same quarter last year. Total deposits during the same period increased by 8.6% to Rs 1.05 lakh crore, while CASA grew by 8% year-on-year to Rs 33,583 crore in Q2FY25.
ITC Infotech India, a subsidiary of the company, has acquired 100% shares of Blazeclan Technologies for Rs 485 crore. Consequently, Blazeclan and its subsidiaries have become step-down wholly owned subsidiaries of the company, effective October 1.
The board has approved the sale of company's 7.6% equity stake in Haryana Orbital Rail Corporation to promoter group company Allcargo Terminals for Rs 115 crore.
Shareholders have approved the re-appointment of RK Dabriwala as Managing Director of the company for three years, and the appointment of Narayan Tulsiram Atal as Non-Executive Independent Director for five years.
The Reserve Bank of India has granted an Authorised Dealer Category 1 licence to Ujjivan Small Finance Bank.
Rashtriya Chemicals & Fertilizers
The Government of India has extended the additional charge of Chairman & Managing Director of Fertilizer and Chemicals Travancore to SC Mudgerikar for one year, effective October 1.
The company reported iron ore production of 3.04 million tonnes (MT) in September 2024, growing by 1.3% over the 3 MT produced in the same month last year. Sales grew by 13.8% year-on-year to 3.54 MT in September.
The company has received an order from the Income Tax Department granting a refund of Rs 13.6 crore for Assessment Year 2021-22. The refund amount is yet to be received.
Thermax Engineering Singapore Pte, a wholly owned subsidiary of the company, made a further investment of Rs 25.9 crore in its subsidiary Thermax (Thailand).
Coal production in September fell by 1% to 50.9 million tonnes, compared to 51.4 million tonnes in the same month last year. Offtake declined by 1.4% year-on-year to 54.4 million tonnes during September.
The company has received final approval from the USFDA to manufacture and market Cephalexin tablets USP, 250 mg and 500 mg, in the US. The drug is bioequivalent and therapeutically equivalent to Keflet tablets from Eli Lilly and Company. Aurobindo is eligible for 180 days of shared generic drug exclusivity. Cephalexin is used to treat infections caused by susceptible strains of designated microorganisms.
The company has received EUGMP certification for its Visakhapatnam facility following an inspection conducted from February 28 to March 1, 2024, for its Ibuprofen dossier. The European Directorate for the Quality of Medicines & HealthCare (EDQM) confirmed the facility's compliance with quality management standards based on EU rules governing medical products.
The company has transferred its 26% stake in its wholly owned subsidiaries—Bangalore Malur Highways, Malur Bangarpet Highways, and Narenpur Purnea Highways—to Alpha Alternatives Holdings for Rs 236.3 crore.
Bulk Deals
Institutional investor Plutus Wealth Management LLP has acquired an additional 0.58% stake in the airline at an average price of Rs 66.7 per share.
AG Dynamic Funds has acquired a 1.86% stake in Tiger Logistics at an average price of Rs 62.75 per share, from Nexpact.
Mainboard Listing on October 3
KRN Heat Exchanger and Refrigeration
SME Listing on October 3
Thinking Hats Entertainment Solutions, Unilex Colours and Chemicals, TechEra Engineering
F&O Ban
Birlasoft, Bandhan Bank, Hindustan Copper, RBL Bank
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