Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, order wins, and appointments, here’s a quick look at which stocks will be in focus in today's trade:
ABB India, Amara Raja Energy & Mobility, Bata India, Sun Pharma Advanced Research Company, Exide Industries, KEC International, Gland Pharma, Indian Railway Catering and Tourism Corporation, Indian Railway Finance Corporation, Hatsun Agro Product, JK Paper, Sai Silks (Kalamandir), Procter & Gamble Health, Raymond, Shankara Building Products, Tilaknagar Industries, Tube Investments of India, and VST Tillers Tractors will announce their September quarter earnings on November 4.
Zen Technologies Q2 (Consolidated YoY)
Profit jumps 365.3% to Rs 63.4 crore Vs Rs 13.6 crore
Revenue spikes 263.7% to Rs 241.8 crore Vs Rs 66.5 crore
EBITDA surges 322% to Rs 80 crore Vs Rs 18.96 crore
Margin expands 457 bps to 33.07% Vs 28.5%
Bondada Engineering Q2 (Consolidated YoY)
Profit zooms 142.1% to Rs 36 crore Vs Rs 14.9 crore
Revenue grows 62.5% to Rs 480.6 crore Vs Rs 295.7 crore
Monthly Auto Sales
Hero MotoCorp October Sales (YoY)
Total sales increases 18.1% to 6.79 lakh units Vs 5.74 lakh units
Domestic sales jumps 17.4% to 6.57 lakh units Vs 5.59 lakh units
Exports grow 43.02% to 21,688 units Vs 15,164 units
Stocks To Watch
The company's subsidiaries, Premier Energies International and Premier Energies Photovoltaic, have received multiple orders totalling Rs 560 crore from two large independent power producers (IPPs) and others. These orders include Rs 513 crore for solar modules and Rs 47 crore for solar cells.
The US District Court of New Jersey has granted a preliminary injunction delaying the launch of Leqselvi by Sun Pharma. As a result of this court decision, the company is prohibited from launching Leqselvi until a subsequent favourable court ruling or until the expiration of the patent in the lawsuit, whichever occurs first. The company disagrees with the court's decision and intends to appeal immediately. Leqselvi (deuruxolitinib) is commonly used to treat severe alopecia areata.
The company has clarified media reports indicating its name appears on the sanctions list of the United States Department of Treasury, stating that it has neither been contacted nor informed by the Department of Treasury about any such sanctions. However, it is in the process of reaching out to the Department of Treasury to gather more information. Lokesh Machines has been exporting machines to Russia since 2011, and these machines are sourced by distributors who either stock them or sell them further. None of its distributors are featured on any sanctions list. According to news articles, the company has been sanctioned for supplying Russia with technology and equipment that could be used for military operations. However, Lokesh Machines is unaware of any machines being used in connection with any sanctioned entities or individuals.
The Board has appointed Trilok Chand Saini as Chief Financial Officer. He has also been appointed as the internal auditor of the company until FY27.
Saurabh Jain has resigned from his position as Chief Digital Excellence Officer of the company. He will be relieved of his duties effective January 31, 2025.
Adonmo has raised additional capital from select new investors on September 25, and Zomato did not participate in this fundraising. As a result of the fundraise, Zomato's shareholding in Adonmo has decreased to 17%, down from 19% at the time of its investment in January 2022.
The company will carry out a planned shutdown of its Chikmagalur MDF manufacturing unit, tentatively scheduled from November 5 for 16 days for maintenance work. This is a planned shutdown, and there may not be any revenue loss, as the company has maintained proper inventory to manage it.
Mainboard Listing on November 4
Afcons Infrastructure
Stocks Turn Ex-Dividend
Colgate Palmolive, Kajaria Ceramics, Manba Finance, Oberoi Realty, Patanjali Foods, Cube Highways Trust
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