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Contact: Daytradertelugu@gmail.com
STOCKS IN ACTION 6 October
TCS: The IT major completed the acquisition of Kaleyra Inc. and its merger with TC Delaware Technologies, making the merged entity a direct subsidiary of TCS. Kaleyra will apply for delisting on the New York Stock Exchange.
Tata Motors: Retail sales for JLR grew 21% year-on-year to 1,06,561 units, while wholesales were at 96,817 units, up 29% year-on-year. JLR's order book stands at 1.68 lakh units and states an expectation of becoming free cash flow positive with £300 million in Q2 FY24.
Bajaj Finance: The company will raise an aggregate of Rs 10,000 crore through a combination of preferential issues and qualified institutional placements. The company's board approved raising Rs 8,800 crore via QIP, along with approval to raise Rs 1,200 crore via preferential issue of warrants.
L&T: The company announced the voluntary liquidation of its joint venture L&T Hydrocarbon Caspian (Azerbaijan), which has been approved by the Azerbaijani government. Consequently, L&T Hydrocarbon Caspian has ceased to be a JV.
Sun Pharma: The drugmaker will acquire a 37.76% stake in Ezerx Health Tech for Rs 28.69 crore and a 4.04% stake in Agatsa Software for Rs 4.5 crore.
Tata Steel/TCIL: Tinplate Company of India, a listed subsidiary of Tata Steel, received a penalty of Rs 39.87 crore for non-payment of an earlier tax demand order of Rs 13.31 crore for FY17. The demand order is presently pending appeal before the Commissioner of Commercial Taxes
Vedanta: CRISIL updated its rating to CRISIL AA/Watch Negative/CRISIL A1+ from earlier CRISIL AA/Negative/CRISIL A1+.
Godrej Consumer: The company estimated double-digit growth in organic sales in the September quarter despite facing challenges in a tough macroeconomic environment. It reported mid-single-digit growth in the home care segment and consolidated volumes. Consolidated sales grew in the low single digits.
Adani Wilmar: Edible oil volumes grew 5% year-on-year during the second quarter of FY24. Food and FMCG volumes grew 18% YoY, and industry essentials volumes grew 25% YoY. However, standalone sales value growth fell 13% over the previous year, reflecting the price cuts taken on account of the sharp fall in global edible oil prices.
BHEL: The company received two awards in arbitration proceedings against Jaiprakash Power Ventures in two separate cases.
Lupin: The drugmaker received tentative approval from the USFDA for Tolvaptan tablets to be manufactured at its Nagpur facility. The Tolvaptan tablets had estimated annual sales of $287 million in the U.S.
Mankind Pharma: The company faced disruptions at the Berimok, Sikkim facility due to disturbances in power/utility supply because of flash floods in the river Teesta. No major disruptions in the supply chain are expected, it said.
SJVN: The government will offer up to 1,81,000 shares with a face value of Rs 10 each to eligible employees at Rs 70.10 per share via offer-for-sale. The offer shall remain open from Oct. 6 to Oct. 10.
Manappuram Finance: Unit Asirvad Micro Finance filed its draft red herring prospectus with SEBI for a fresh issue of equity shares amounting to Rs 1,500 crore. The company also plans to raise up to Rs 300 crore in a pre-IPO round. If such placement is completed, the fresh issue size will be reduced.
KPI Green Energy: The company received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity was undertaken by KPI Green Energy and 9 MW capacity by unit Sun Drops Energia.
REC: CARE Ratings upgraded the long-term perpetual bond rating to CARE AAA; stable from earlier AA+; stable
Lemon Tree Hotels: The company opened a 669-room hotel in Mumbai, India’s largest by number of rooms, under the Aurika Hotels & Resorts brand.
Laxmi Organic Industries: The board approved the floor price for QIP at Rs 283.27 per share. The issue price will be determined by the company in consultation with the book-running lead managers appointed for the issue.
@daytradertelugu
TCS: The IT major completed the acquisition of Kaleyra Inc. and its merger with TC Delaware Technologies, making the merged entity a direct subsidiary of TCS. Kaleyra will apply for delisting on the New York Stock Exchange.
Tata Motors: Retail sales for JLR grew 21% year-on-year to 1,06,561 units, while wholesales were at 96,817 units, up 29% year-on-year. JLR's order book stands at 1.68 lakh units and states an expectation of becoming free cash flow positive with £300 million in Q2 FY24.
Bajaj Finance: The company will raise an aggregate of Rs 10,000 crore through a combination of preferential issues and qualified institutional placements. The company's board approved raising Rs 8,800 crore via QIP, along with approval to raise Rs 1,200 crore via preferential issue of warrants.
L&T: The company announced the voluntary liquidation of its joint venture L&T Hydrocarbon Caspian (Azerbaijan), which has been approved by the Azerbaijani government. Consequently, L&T Hydrocarbon Caspian has ceased to be a JV.
Sun Pharma: The drugmaker will acquire a 37.76% stake in Ezerx Health Tech for Rs 28.69 crore and a 4.04% stake in Agatsa Software for Rs 4.5 crore.
Tata Steel/TCIL: Tinplate Company of India, a listed subsidiary of Tata Steel, received a penalty of Rs 39.87 crore for non-payment of an earlier tax demand order of Rs 13.31 crore for FY17. The demand order is presently pending appeal before the Commissioner of Commercial Taxes
Vedanta: CRISIL updated its rating to CRISIL AA/Watch Negative/CRISIL A1+ from earlier CRISIL AA/Negative/CRISIL A1+.
Godrej Consumer: The company estimated double-digit growth in organic sales in the September quarter despite facing challenges in a tough macroeconomic environment. It reported mid-single-digit growth in the home care segment and consolidated volumes. Consolidated sales grew in the low single digits.
Adani Wilmar: Edible oil volumes grew 5% year-on-year during the second quarter of FY24. Food and FMCG volumes grew 18% YoY, and industry essentials volumes grew 25% YoY. However, standalone sales value growth fell 13% over the previous year, reflecting the price cuts taken on account of the sharp fall in global edible oil prices.
BHEL: The company received two awards in arbitration proceedings against Jaiprakash Power Ventures in two separate cases.
Lupin: The drugmaker received tentative approval from the USFDA for Tolvaptan tablets to be manufactured at its Nagpur facility. The Tolvaptan tablets had estimated annual sales of $287 million in the U.S.
Mankind Pharma: The company faced disruptions at the Berimok, Sikkim facility due to disturbances in power/utility supply because of flash floods in the river Teesta. No major disruptions in the supply chain are expected, it said.
SJVN: The government will offer up to 1,81,000 shares with a face value of Rs 10 each to eligible employees at Rs 70.10 per share via offer-for-sale. The offer shall remain open from Oct. 6 to Oct. 10.
Manappuram Finance: Unit Asirvad Micro Finance filed its draft red herring prospectus with SEBI for a fresh issue of equity shares amounting to Rs 1,500 crore. The company also plans to raise up to Rs 300 crore in a pre-IPO round. If such placement is completed, the fresh issue size will be reduced.
KPI Green Energy: The company received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity was undertaken by KPI Green Energy and 9 MW capacity by unit Sun Drops Energia.
REC: CARE Ratings upgraded the long-term perpetual bond rating to CARE AAA; stable from earlier AA+; stable
Lemon Tree Hotels: The company opened a 669-room hotel in Mumbai, India’s largest by number of rooms, under the Aurika Hotels & Resorts brand.
Laxmi Organic Industries: The board approved the floor price for QIP at Rs 283.27 per share. The issue price will be determined by the company in consultation with the book-running lead managers appointed for the issue.
@daytradertelugu
