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:
Navkar Corporation, Transformers and Rectifiers India, VL E-Governance & IT Solutions, Darshan Orna, Emerald Finance, Gautam Gems, Hawa Engineers, and Integra Switchgear will announce their quarterly earnings on October 8.
Quarterly Earnings (Q2 Provisional Numbers)
Nykaa has recorded consolidated net revenue growth of mid-twenties in the quarter ended September 2024. However, fashion consumption has witnessed subdued demand in the first half of FY25. The industry is expected to see a gradual revival in the second half, driven by the festive and wedding season.
Stocks To Watch
Jaguar Land Rover, a subsidiary of the company, recorded retail sales of 1.03 lakh units for the quarter ended September 2024, down 3% compared to the same period a year ago. Production during the period declined by 7% YoY to 86,000 units, due to disruptions in the aluminium supply chain in Q1FY25. Wholesales were down 10% YoY to 87,303 units. JLR expects production and wholesale volumes to recover strongly in the second half of the year.
The company opened its Qualified Institutional Placement (QIP) on October 7. The floor price has been set at Rs 194.98 per share.
Its subsidiary, Ebix Cash, has secured a contract for providing network integration services to Punjab National Bank. The contract, valued at Rs 138.75 crore, has been awarded for a three-year period.
Its subsidiary, SWELECT Clean Energy, has commissioned an additional 7 MW solar power plant at Pudukottai, Tamil Nadu.
The Puravankara Group entity has entered into a sale deed for the acquisition of a 3-acre, 4-gunta land parcel in North Bangalore to develop a residential project.
The Board has approved the sale of a 100% stake in HDFC Education and Development Services to Vama Sundari Investments (Delhi) for Rs 192 crore. Vama Sundari Investments is a related party of HDFC Asset Management Company, a subsidiary of HDFC Bank.
Apex Buildsys has initiated a Rs 38.7 crore claim against IRCON. The claim is being adjudicated by an Arbitral Tribunal. Apex Buildsys is a contractor for IRCON, and the potential financial implications will depend on the final adjudication of the disputes or claims.
The company has invested Rs 248.62 crore to acquire an 8.23% stake in GrafTech International, a NYSE-listed manufacturer of graphite electrodes, through secondary market transactions.
Cholamandalam Investment and Finance
Ravindra Kumar Kundu has assumed office as Managing Director of the company, effective October 7, 2024.
The company has signed a License Agreement for a 54-room hotel property in Udaipur, Rajasthan. The property will be managed by the company’s subsidiary, Carnation Hotels, and is expected to open in FY27.
The board has appointed Pooja Duggal as Chief Human Resources Officer of the company, effective October 7, 2024. Preeti Dhall Pal has resigned as Vice President, Human Resources, due to personal reasons.
The company has received an order worth Rs 154.27 crore from the Ahmedabad Municipal Corporation. The order involves the design, supply, installation, testing, and commissioning of a 30MW ground-mounted solar project in Gujarat, including erection, operation, and maintenance for five years.
The company has received additional orders worth over Rs 500 crore since September 11. With these new orders, BEL has now accumulated total orders amounting to Rs 7,689 crore in the current financial year.
Bulk Deals
Quant Mutual Fund has acquired an additional 1.1% stake in the company at an average price of Rs 636.56 per share. The fund house held a 2.76% stake in the company as of June 2024.
Minerva Ventures Fund has bought an additional 0.8% stake in the company at an average price of Rs 25.84 per share.
SME Listing on October 8
Subam Papers, Paramount Dye Tec
Stock Trades Ex-Bonus
Power Mech Projects
F&O Ban
IDFC First Bank, Punjab National Bank, Bandhan Bank, Birlasoft, GNFC, Granules India, Hindustan Copper, Manappuram Finance, RBL Bank
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