Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Transformers and Rectifiers (India), Reliance Home Finance, Adarsh Mercantile, and Vivid Mercantile will announce their quarterly earnings on January 8.
Quarterly Earnings (Provisional Numbers)
Signature Global Q3 (YoY)
Pre-sales grow 120% to Rs 2,770 crore Vs 1,260 crore
Collections increases 40% to Rs 1,080 crore Vs Rs 770 crore
Company records 29% growth in number of units sold at 1,518 units Vs 1,179 units
Company reports 90% growth in area sold at 2.49 million square feet Vs 1.31 million square feet
Tata Steel Q3 (YoY)
India production grows 6.2% to 5.68 million tonnes (MT) Vs 5.35 MT
India deliveries increase 8.4% to 5.29 MT Vs 4.88 MT
UK production at 0 MT Vs 0.72 MT
UK deliveries drop 12.5% to 0.56 MT Vs 0.64 MT
Netherlands production surges 47.9% to 1.76 MT Vs 1.19 MT
Netherlands deliveries jump 17.7% to 1.53 MT Vs 1.3 MT
Sobha Q3 (YoY)
Total sales value drops 28.8% to Rs 1,388.6 crore Vs Rs 1,951.6 crore
Average price realisation grows 16.5% to Rs 13,663 per square feet Vs Rs 11,732 per square feet
Stocks To Watch
Dr Reddy’s Laboratories Inc., USA, the wholly owned subsidiary of the company, has entered into an agreement for the sale of all the issued and outstanding membership interests in its wholly owned subsidiary, Dr Reddy’s Laboratories Louisiana LLC (DRLL), along with the manufacturing facility of DRLL in Shreveport, Louisiana, USA, for 1 US dollar. Consequently, Dr Reddy’s Laboratories Louisiana LLC will cease to be a wholly owned subsidiary of Dr Reddy’s Laboratories Inc., as well as a step-down wholly owned subsidiary of Dr Reddy’s Laboratories.
The company has signed a strategic Memorandum of Understanding (MoU) with Telechips (an automotive semiconductor solutions company) to innovate solutions for next-gen software-defined vehicles (SDVs). The collaboration will focus on co-developing innovative solutions for Advanced Driver Assistance System (ADAS) platforms, Automotive Cockpit domain controllers, and Central & Zonal gateway controllers, helping OEMs address software-hardware integration challenges and reduce time-to-market.
The Board approved the appointment of Sanjeev Kumar Sharma as Chief Financial Officer of the company, effective January 7.
The EV charging and critical power solutions manufacturer has signed a Memorandum of Understanding (MoU) with Mufin Green Infra for the expansion of EV charging infrastructure in India.
The company's European subsidiary, Gruppo Aturia, has acquired 100% shareholding of Misa Italy. Misa is engaged in the business of large pumping station projects and the supply of pumps and hydro turbines.
RVNL has signed an MoU with Dubai-based GBH International Contracting LLC (GBHIC). They will work together to explore business opportunities in the civil infrastructure sector in GCC countries.
Mahindra announced the prices for the top-end variant of its electric-origin SUVs - BE 6 and XEV 9e. BE 6 Pack Three is priced at Rs 26.9 lakh, and XEV 9e Pack Three at Rs 30.5 lakh. Phased test drives will start on January 14, 2025, while bookings for BE 6 and XEV 9e will open simultaneously on February 14, 2025. Deliveries are expected to begin in early March 2025.
The company has pledged the remaining 56.31% of its shares in its subsidiary, Bharat Serums & Vaccines, in favour of Catalyst Trusteeship as the Common Security Trustee for the benefit of the holders of the NCDs (non-convertible debentures).
The company has issued a letter of award to its subsidiary Purvah Green Power for the project to set up a 150 MW wind-solar hybrid power project, with an additional 150 MW capacity under the Greenshoe option.
Roopinder Singh has resigned as Chief Executive Officer - Americas due to personal reasons, effective February 7, 2025.
The real estate developer has appointed Deepak Rastogi as the Group Chief Financial Officer (CFO), effective January 15, 2025.
The passenger vehicle manufacturer announced its blueprint for electric mobility, christened ‘e for me’. This is a comprehensive ecosystem that integrates electric vehicles, pioneering technology, and robust charging infrastructure.
Orissa Minerals Development Company
The company has suspended Ramakanta Behera, the Chief Financial Officer (CFO), with immediate effect due to allegations of misconduct. The allegations are of a serious nature.
The Board has appointed Devender Singh as Chief Financial Officer (CFO) of the company with immediate effect.
Baldev Prakash has been given the responsibility as DMD & Group Chief Risk Officer, and Shiva Om Dikshit as DMD (Operations-Channel Management) of the bank.
The Board has approved the issuance of 4 bonus equity shares for every 1 existing fully paid-up equity share of Rs 1 each held, to the eligible equity shareholders of the company as of the record date.
The company has received an administrative warning letter from SEBI for violating regulations. The warning letter pertains to the dissemination of information about plans for a four-fold expansion of the company-owned store network. SEBI observed that this information was first disseminated by promoter and Chairman-cum-Managing Director Bhavish Aggarwal on social media before disclosing it on the stock exchanges, thus breaching regulations that require listed entities to provide material information to stock exchanges and all investors in a timely manner. Additionally, the Karnataka High Court has granted a six-week extension for the company to submit its response regarding the additional documents and information sought by the Central Consumer Protection Authority (CCPA).
New Stocks in F&O Segment
The National Stock Exchange has added six more stocks - Castrol India, Gland Pharma, NBCC (India), Phoenix Mills, Solar Industries India, and Torrent Power - to the F&O segment, effective January 31, 2025.
SME Listing on January 8
Leo Dryfruits & Spices Trading
Stock Trades Ex-Date for Rights
Camlin Fine Sciences
Stocks Trade Ex-Date for Split
AA Plus Tradelink, Jagsonpal Pharmaceuticals, Julien Agro Infratech, Kamdhenu
Stock Trades Ex-Bonus
Algoquant Fintech, Padam Cotton Yarns
F&O Ban
Bandhan Bank, Hindustan Copper, Manappuram Finance, RBL Bank
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