Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, auto sales, appointments, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
International Gemmological Institute India Q4 (Consolidated YoY)
Profit grows 45% to Rs 113.8 crore Vs Rs 78.4 crore
Revenue increases 6% to Rs 265 crore Vs Rs 249.9 crore
Foseco India Q4 (YoY)
Profit jumps 19.8% to Rs 19.5 crore Vs Rs 16.3 crore
Revenue rises 11.6% to Rs 136.5 crore Vs Rs 122.3 crore
Company recommends a final dividend of Rs 25 per share
Rana Sugars Q3 (Standalone YoY)
Profit zooms 158.2% to Rs 14.2 crore Vs Rs 5.5 crore
Revenue increases 15.8% to Rs 390.3 crore Vs Rs 337.2 crore
Monthly Auto Sales
Tata Motors (February YoY)
Total sales decline 8.2% to 79,344 units Vs 86,406 units
Total domestic sales drop 9% to 77,232 units Vs 84,834 units
Commercial vehicle sales down 7% at 32,533 units Vs 35,085 units
Passenger vehicle sales (including EV) fall 9% to 46,811 units Vs 51,321 units
Maruti Suzuki India (February YoY)
Total sales increase 1% to 1,99,400 units Vs 1,97,471 units
Domestic sales grow 3.5% to 1,74,379 units Vs 1,68,544 units
Exports fall 13.5% to 25,021 units Vs 28,927 units
Production grows 5.1% to 1,87,414 units Vs 1,78,261 units
Hyundai Motor India (February)
Total sales at 58,727 units
Domestic sales at 47,727 units
Export sales at 11,000 units
Mahindra and Mahindra Automobile (February YoY)
Total sales grow 14.8% to 83,702 units Vs 72,923 units
Passenger vehicle sales increase 18.9% to 50,420 units Vs 42,401 units
Exports zoom 99% to 3,061 units Vs 1,539 units
Three-wheeler sales rise 3.8% to 6,395 units Vs 6,158 units
Mahindra and Mahindra Tractor (February YoY)
Tractor sales increase 18% to 25,527 units Vs 21,672 units
Domestic sales jump 19% to 23,880 units Vs 20,121 units
Exports sales up 6% at 1,647 units Vs 1,551 units
TVS Motor Company (February YoY)
Total sales grow 10% to 4.03 lakh units Vs 3.68 lakh units
Two-wheeler sales increase 10% to 3.91 lakh units Vs 3.57 lakh units
Electric vehicle sales up 34% at 24,017 units Vs 17,959 units
Exports zoom 26% to 1,24,993 units Vs 98,856 units
Three-wheeler sales jump 14% to 12,087 units Vs 10,614 units
Eicher Motors (February YoY)
Royal Enfield sales soar 19% to 90,670 units Vs 75,935 units
Royal Enfield Exports jump 23% to 9,871 units Vs 8,013 units
VECV sales grow 9% to 8,092 units Vs 7,424 units
Escorts Kubota (February YoY)
Tractor sales increase 11.4% to 8,590 units Vs 7,709 units
Domestic sales up 9.6% at 7,968 units Vs 7,269 units
Exports sales grow 41.4% to 622 units Vs 440 units
SML Isuzu (February YoY)
Sales zoom 27.5% to 1,288 units Vs 1,010 units
Cargo vehicles sales up 15.3% at 468 units Vs 406 units
Passenger vehicles sales grow 35.8% to 820 units Vs 604 units
Atul Auto (February YoY)
Total sales increase 26% to 2,900 units Vs 2,300 units
Domestic sales up 11.3% at 2,360 units Vs 2,120 units
VST Tillers Tractors (February YoY)
Total sales fall 21.8% to 3,260 units Vs 4,170 units
Power Tillers sales drop 21.8% to 2,952 units Vs 3,773 units
Tractors sales down 22.4% at 308 units Vs 397 units
Stocks to Watch
Dr Agarwal's Health Care will be in focus on March 3 as the lock-in period for 50% of the shares in the company's IPO anchor book opens today.
One 97 Communications (Paytm)
The company has received a show cause notice from the Directorate of Enforcement for alleged contraventions of certain provisions of the Foreign Exchange Management Act (FEMA) between 2015 and 2019. The notice pertains to its acquisition of two subsidiaries—Little Internet and Nearbuy India (formerly Groupon)—along with certain directors and officers. The alleged contraventions involve transactions amounting to Rs 611.17 crore.
The company has received a tax demand order amounting to Rs 138.53 crore for FY21 from the Deputy Commissioner of State Tax, Pune. The demand primarily relates to a differential tax liability between the specific HSN classification adopted by the company (GST rate of 18%) and the general HSN classification of auto parts as determined by tax authorities (GST rate of 28%).
The bank has received a demand from the Deputy Commissioner, Large Taxpayers Unit, Chennai, for a GST liability of Rs 699.52 crore, inclusive of interest and penalties, for the Annual Scrutiny Assessment Year 2020-21. The penalty imposed by the authority amounts to Rs 35.26 crore.
The Navratna company has received a Letter of Award for a 200 MW wind power project from SJVN at a tariff of Rs 3.74 per kWh.
The company has completed the transfer of its direct investment (92% stake) in Saudi Ensas Company for Engineering Services WLL, Kingdom of Saudi Arabia, to Universal MEP Projects Pte, Singapore (UMPPL), for Rs 61.84 crore. As UMPPL is a step-down wholly-owned subsidiary, Voltas’ economic interest in Saudi Ensas Company for Engineering Services WLL remains intact, and the entity continues to be a wholly-owned subsidiary.
The Income Tax Authority has raised an additional tax demand (including interest) of Rs 111.68 crore for the Assessment Year 2021-22.
The bank has completed the sale of a stressed loan portfolio, including a written-off loans pool with an outstanding value of Rs 364.51 crore, to an Asset Reconstruction Company (ARC) for Rs 34.26 crore.
The company has announced a strategic investment of Rs 3,520 crore in Maharashtra and Karnataka. This includes the establishment of a 3.6 MnTPA (million tonnes per annum) clinker unit and a 3 MnTPA grinding unit at the Belgaum plant, Karnataka, along with a new greenfield split grinding unit with a capacity of 3 MnTPA in Pune, Maharashtra.
The company has received a tax demand order from the GST Department, Maharashtra, for the tax period 2020-21, amounting to Rs 1,502 crore, including interest and penalties. The demand primarily pertains to the slump sale of its pharma business to Piramal Pharma in FY21, along with the transfer of its subsidiary companies for Rs 4,487 crore.
Biju George has been given additional charge as Chairman & Managing Director of the company for one month, effective March 1. He currently serves as the Director (Shipbuilding) of the company.
The company has received an income tax demand order of Rs 105.55 crore for the Assessment Year 2019-20 from the Income Tax Department.
The company has completed the sale of its entire stake in its wholly-owned subsidiary, Tata Communications Payment Solutions. As a result, Tata Communications Payment Solutions has ceased to be a subsidiary of the company.
The company received an order worth Rs 218.82 crore in February. The order pertains to the transportation division and has been awarded by a state government.
The company has completed the acquisition of an 80% stake in its step-down subsidiary, Tergene Biotech, from Auro Vaccines for Rs 10.76 crore. Auro Vaccines is a wholly-owned step-down subsidiary of Aurobindo Pharma, and with this acquisition, Tergene Biotech has now become a direct subsidiary.
The company has received a work order worth Rs 26.37 crore from the Cuttack Development Authority.
The company's subsidiary, Birla Estates, has secured bookings worth approximately Rs 500 crore through the sale of over 300 units of Birla Trimaya Phase III – The Park in Bengaluru.
The Board has approved the merger of Comviva Technologies USA Inc. with its parent company, Comviva Technologies Americas Inc. Comviva Technologies Americas Inc. is a wholly-owned subsidiary of Comviva Technologies India and a step-down subsidiary of Tech Mahindra.
Bulk Deals
Motilal Oswal Mutual Fund has acquired a 0.5% stake in the company at an average price of Rs 7,367.94 per share, amounting to Rs 250.1 crore.
Generic Engineering Construction and Projects
Unlisted Assets has acquired 2.9 lakh shares in the company at an average price of Rs 27.68 per share from Divam Sharma.
Home First Finance Company India
iShares Core MSCI Emerging Markets ETF has picked up a 0.55% stake in Home First at an average price of Rs 1,007.25 per share.
Integrated Core Strategies (Asia) Pte has sold a 0.65% stake in IndusInd Bank at an average price of Rs 986.74 per share, amounting to Rs 501.94 crore.
Motilal Oswal Mutual Fund has acquired a 1.2% stake in KEI Industries at an average price of Rs 3,105.49 per share, amounting to Rs 367.09 crore.
Nippon India Mutual Fund has acquired a 1.6% stake in TeamLease at an average price of Rs 1,865 per share. Meanwhile, Goldman Sachs Funds - Goldman Sachs India Equity Portfolio has sold a 1% stake at the same price.
Promoter entity Apollo Pipes has acquired an additional 6 lakh shares in the company at an average price of Rs 46.50 per share.
Block Deals
SEI Trust Company, acting as a trustee on behalf of Allspring Emerging Markets Equity CIT, has acquired a 0.02% stake in ITC at an average price of Rs 401.60 per share from Wells Fargo Emerging Markets Equity CIT.
SME Listing on March 3
Beezaasan Explotech
Stock Trades Ex-Dividend
Aayush Wellness
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