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Contact: Daytradertelugu@gmail.com
STOCKS IN ACTION 10 October
Adani Enterprises: The Adani Group has condemned the Financial Times for its "Malicious Campaign to Tarnish its Global Reputation." The company said in a statement that the Financial Times is deliberately recycling old allegations to support vested interests.
Tata Steel: Fitch upgraded the steelmaker to BBB- from BB+ with a 'Stable' outlook. The upgrade follows a reduction in uncertainty and financial risk from its U.K. operations.
Indian Oil: The company has appointed Anuj Jain as the Director (Finance) as of Oct. 9, 2023. Consequently, Sanjay Kaushal has ceased to be the CFO of the company.
Dr Reddy's Laboratories: The company was named in an antitrust complaint filed in California court by Mayo Clinic and Lifepoint Corporate Services. It alleges improper restraining of competition and a shared monopoly in the sale of Revlimid.
IDFC First Bank: The bank will sell its office premises in BKC, Mumbai, to NSDL for Rs 198 crore.
Cummins India: The company’s Pune unit in MIDC Phaltan will be excluded from the SEZ scheme from Oct. 11, 2023. The unit shall continue to operate as Domestic Tariff Area plant.
Container Corporation of India: Export-Import volumes rose 3.5% year on year to 9.7 lakh TEUs, and domestic volumes rose 26.13% to 2.61 lakh TEUs in the second quarter.
Mazagon Dock Shipbuilders: The company has signed a Letter of Intent with a European client for the construction of six firm and four optional units of 7,500 DWT multi-purpose hybrid power vessels. The prices for the vessels would be decided after the signing of the contract.
Star Health: The company gets a Rs 39 crore show cause cum demand notice from DGGI for for non-payment of GST on co-insurance premiums from July 2017 to March 2023.
Phoenix Mills: Total consumption in Q2 of FY24 rose 20% year on year to Rs. 2,637 crore. Retail collections rose 23% year on year to Rs. 638 crore in the second quarter.
Genus Power Infrastructures: The company's unit received two LoAs worth Rs 3,115 crore for the design of advanced metering infrastructure systems with the supply, installation and commissioning of 34.8 lakh smart prepaid meters.
Dilip Buildcon: The company has received a LoA for an order worth Rs 396.9 crore from Water Resources Zone, Udaipur. The EPC turnkey order is expected to be completed within 44 months. The order includes the planning, design and construction of Dewas III and IV Dams in Tehsil-Gogunda Udaipur.
Dhanuka Agritech: The company launches a new product named Semacia, which is a broad-spectrum insecticide against lepidopteran insect pests on a range of crops.
Glenmark Life Sciences: The drugmaker has declared an interim dividend of Rs 22.50 per share for FY24. The record date will be Oct. 17, and the interim dividend will be paid by Oct. 23.
GR Infra, Patel Engineering, NHPC: Dibang Power, a 50-50 JV of GR Infraprojects and Patel Engineering, has executed a contract with NHPC for a Rs 3,637.12 crore project. The project is for the construction of civil works including the Head Race Tunnel, Tail Race Tunnel, Pothead Yard, and Adits for the Dibang Multipurpose Project in Arunachal Pradesh.
Pharma Stocks: The Indian pharma market reported low sales growth of 2.1% YoY in September, according to data from All Indian Origin Chemists and Distributors.
Life Insurance stocks: Revenue of the life insurance industry declined by 16% YoY in September, according to the Life Insurance Council's data.
Bhageria Industries: The company has received one turnkey international solar engineering, procurement, and construction (Solar EPC) project with comprehensive operation, maintenance and water proofing at the APM terminal in Bahrain. The project, with a capacity of 11.40 MWp, has a total order value of Rs 104.49 crore.
INOX Green: says on track to be net-debt-free this financial year
@daytradertelugu
Adani Enterprises: The Adani Group has condemned the Financial Times for its "Malicious Campaign to Tarnish its Global Reputation." The company said in a statement that the Financial Times is deliberately recycling old allegations to support vested interests.
Tata Steel: Fitch upgraded the steelmaker to BBB- from BB+ with a 'Stable' outlook. The upgrade follows a reduction in uncertainty and financial risk from its U.K. operations.
Indian Oil: The company has appointed Anuj Jain as the Director (Finance) as of Oct. 9, 2023. Consequently, Sanjay Kaushal has ceased to be the CFO of the company.
Dr Reddy's Laboratories: The company was named in an antitrust complaint filed in California court by Mayo Clinic and Lifepoint Corporate Services. It alleges improper restraining of competition and a shared monopoly in the sale of Revlimid.
IDFC First Bank: The bank will sell its office premises in BKC, Mumbai, to NSDL for Rs 198 crore.
Cummins India: The company’s Pune unit in MIDC Phaltan will be excluded from the SEZ scheme from Oct. 11, 2023. The unit shall continue to operate as Domestic Tariff Area plant.
Container Corporation of India: Export-Import volumes rose 3.5% year on year to 9.7 lakh TEUs, and domestic volumes rose 26.13% to 2.61 lakh TEUs in the second quarter.
Mazagon Dock Shipbuilders: The company has signed a Letter of Intent with a European client for the construction of six firm and four optional units of 7,500 DWT multi-purpose hybrid power vessels. The prices for the vessels would be decided after the signing of the contract.
Star Health: The company gets a Rs 39 crore show cause cum demand notice from DGGI for for non-payment of GST on co-insurance premiums from July 2017 to March 2023.
Phoenix Mills: Total consumption in Q2 of FY24 rose 20% year on year to Rs. 2,637 crore. Retail collections rose 23% year on year to Rs. 638 crore in the second quarter.
Genus Power Infrastructures: The company's unit received two LoAs worth Rs 3,115 crore for the design of advanced metering infrastructure systems with the supply, installation and commissioning of 34.8 lakh smart prepaid meters.
Dilip Buildcon: The company has received a LoA for an order worth Rs 396.9 crore from Water Resources Zone, Udaipur. The EPC turnkey order is expected to be completed within 44 months. The order includes the planning, design and construction of Dewas III and IV Dams in Tehsil-Gogunda Udaipur.
Dhanuka Agritech: The company launches a new product named Semacia, which is a broad-spectrum insecticide against lepidopteran insect pests on a range of crops.
Glenmark Life Sciences: The drugmaker has declared an interim dividend of Rs 22.50 per share for FY24. The record date will be Oct. 17, and the interim dividend will be paid by Oct. 23.
GR Infra, Patel Engineering, NHPC: Dibang Power, a 50-50 JV of GR Infraprojects and Patel Engineering, has executed a contract with NHPC for a Rs 3,637.12 crore project. The project is for the construction of civil works including the Head Race Tunnel, Tail Race Tunnel, Pothead Yard, and Adits for the Dibang Multipurpose Project in Arunachal Pradesh.
Pharma Stocks: The Indian pharma market reported low sales growth of 2.1% YoY in September, according to data from All Indian Origin Chemists and Distributors.
Life Insurance stocks: Revenue of the life insurance industry declined by 16% YoY in September, according to the Life Insurance Council's data.
Bhageria Industries: The company has received one turnkey international solar engineering, procurement, and construction (Solar EPC) project with comprehensive operation, maintenance and water proofing at the APM terminal in Bahrain. The project, with a capacity of 11.40 MWp, has a total order value of Rs 104.49 crore.
INOX Green: says on track to be net-debt-free this financial year
@daytradertelugu
