Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, appointments and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Quality Power Electrical Equipments Q3 (Consolidated YoY)
Profit grows 23% to Rs 13.83 crore Vs Rs 11.24 crore
Revenue declines 48.9% to Rs 72.6 crore Vs Rs 142 crore
Stocks To Watch
After some speculation regarding IndusInd Bank, the Reserve Bank of India stated that the bank is well-capitalized, and its financial position remains satisfactory. As per the financial results for Q3FY25, the bank has maintained a comfortable capital adequacy ratio of 16.46% and a provision coverage ratio of 70.20%. The liquidity coverage ratio stood at 113% as of March 9, against the regulatory requirement of 100%. IndusInd Bank has already engaged an external audit team to comprehensively review its current systems and assess the actual impact expeditiously. Therefore, there is no need for depositors to react to the speculative reports at this juncture, as the bank’s financial health remains stable and is being closely monitored by the Reserve Bank. Meanwhile, HDFC Mutual Fund acquired a 0.2% stake on March 11, increasing its shareholding to 5.02%, from 4.82% earlier.
The infrastructure EPC major has received new orders worth Rs 1,267 crore in the transmission & distribution and cable businesses. With these new orders, its YTD order intake stands at over Rs 23,300 crore, a growth of 35% compared to the same period last year.
Bharat Heavy Electricals (BHEL) has awarded a formal purchase contract worth Rs 231.78 crore to the company. The contract is expected to be executed progressively over the next 13 months (by April 2026). Earlier, on March 4, BHEL (Trichy) had selected Welspun Specialty Solutions as the L1 bidder for the supply of 4,050 tons of stainless steel seamless boiler tubes for a series of super-critical thermal power projects.
The US FDA conducted a Bioresearch Monitoring (BIMO) inspection at the company’s Bioequivalence Center in Taloja, Maharashtra, during March 10-13. At the end of the inspection, no Form 483 was issued by the US FDA. Additionally, the company's subsidiary, Alkem Medtech, has executed a Share Purchase and Share Subscription Agreement with Bombay Ortho Industries to acquire 100% stake in Bombay Ortho.
The United States Food and Drug Administration (USFDA) has conducted an inspection at Unit-2 of Shilpa Pharma Lifesciences, located in Raichur, during March 10-14. The US FDA closed the inspection with zero observations. This is the second consecutive zero 483 inspection at this site. Shilpa Pharma Lifesciences is a wholly owned subsidiary of Shilpa Medicare.
The company has emerged as the selected bidder by the National Highways Authority of India for a project worth Rs 4,262.78 crore. The project involves the construction of the Agra-Gwalior greenfield road across Uttar Pradesh, Rajasthan, and Madhya Pradesh.
The company has received an order worth Rs 298 crore for the supply of seamless pipes for the oil & gas sector.
The pharma company is recalling one batch of Levetiracetam in 0.75% sodium chloride injection single-dose infusion bags in the United States due to incorrect labeling of the infusion bag. According to the risk statement, patients administered the mislabeled product are likely to experience adverse events.
The company announced its intention to appoint Deloitte Haskins & Sells LLP as statutory auditors, effective FY28, subject to the completion of all regulatory compliances. BSR & Co LLP, the current statutory auditors, will continue to audit Tata Motors until FY27.
The Board has appointed K V Sridhar as the Chief Financial Officer of the company, effective April 1, 2025, upon the superannuation of Jitender Pal Verma. Additionally, the Board has approved the transfer of overseas branches in Dubai and Abu Dhabi to the company’s subsidiary, Universal MEP Contracting LLC, Dubai, UAE, for Rs 45-70 crore.
The company has launched its residential project – Ebony at Brigade Orchards in Devanahalli, with a revenue potential of over Rs 380 crore, and another residential project – Brigade Eternia in Yelahanka, with a revenue potential of over Rs 2,700 crore.
The company has received Rs 123.45 crore from the Department of Telecommunications as an incentive for FY24 under the PLI (Production Linked Incentive) scheme for telecom and networking products.
Qualcomm Ventures LLC is set to acquire a shareholding worth up to 10 million euros in the Qorix GmbH joint venture. Qualcomm will be the third shareholder in Qorix GmbH, alongside KPIT and ZF.
The Board has approved and declared an interim dividend of Rs 18 per equity share for FY25. The record date for the payment of this interim dividend is set as March 20.
Adar Poonawalla-owned Sanoti Properties has decided to sell its stake in its insurance subsidiary, Magma General Insurance, to Baba Ramdev's Patanjali Ayurved and DS Group, for Rs 4,500 crore. Patanjali Ayurved is one of the promoters of Patanjali Foods.
The company has withdrawn its proposal for the acquisition of a 51% equity stake in Solitude Flame, leading to the termination of the share swap agreement. The termination of this proposal will not have any material adverse financial or operational impact on the company.
The Board has appointed Nikhil Arora as Chief Financial Officer of the company, effective May 5, and Jayanand Vasudeorao Kaginalkar as an Additional Director of the company, categorized as Executive Director, effective April 1.
The company has acquired 27,228 equity shares worth Rs 2.95 crore in Central Depository Services, and 1,29,685 equity shares worth Rs 2.65 crore in La Opala RG for investment purposes.
The Board will meet on March 19 to declare the third interim dividend for FY25. The record date for the dividend, if declared, will be March 25.
The company has received final approval from the United States Food and Drug Administration (USFDA) to manufacture Eluxadoline tablets, which are available in 75 mg and 100 mg strengths. Eluxadoline is a mu-opioid receptor agonist indicated for the treatment of irritable bowel syndrome with diarrhea (IBS-D) in adults.
Bulk Deals
Promoter Ajay Singh sold a 0.9% stake in the airline company at an average price of Rs 45.34 per share, valued at Rs 52.3 crore.
India Opportunities Growth Fund - Pinewood Strategy acquired 7.5 lakh shares in the company at an average price of Rs 12.88 per share.
Stock Trades Ex-Date for Split
Sika Interplant Systems
Stocks in F&O ban
BSE
IndusInd Bank
Hindustan Copper
Manappuram Finance
SAIL
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
