STOCKS IN ACTION 4 October
HDFC Bank: The bank sent out a detailed memo to its employees detailing management changes. IT and tech have been brought under the CEO's purview. Ashish Parthasarthy will handle branch business, while Arvind Kapil will manage mortgages and retail businesses.
Adani Enterprises: Abu Dhabi-based IHC Capital Holding raised its stake to 5.04% through open-market deals.
Maruti Suzuki: The carmaker received a draft assessment order from the Income Tax Authority amounting to Rs 2,160 crore for FY 2019–20. The company will file objections before the Dispute Resolution Panel. Further, it reported total output for September at 1.74 lakh units, down 1.4% year-on-year.
Bajaj Finserv: Unit Bajaj Allainz General Insurance received a Rs 1,010 crore-show cause cum demand notice from GST authorities for alleged non-payment of GST on co-insurance and re-insurance premiums.
Avenue Supermart: The retailer's standalone revenue for Q2 FY24 was up 18.5% year-on-year at Rs 12,307.72 crore. The total number of stores as of September stood at 336.
Nestle India: The board will meet on Oct. 19 to mull the stock split of shares and the second interim dividend for the year 2023.
Pidilite Industries: Unit Pidilite MEA Chemicals and Spain-based Corporacion Empresarial Grupo Puma SL incorporated a 50:50 joint venture company in the UAE for the manufacturing of construction chemicals.
Hindustan Zinc: The company will be split into three entities: zinc, silver, and recycling, said Vedanta Chairman Anil Agarwal.
Vedanta: Chairman Anil Agarwal said the company is on course to repay the majority of its $6.4 billion debt in January and August next year. The remaining debt will be repaid via the strategic sale of steel and iron ore companies.
Hero MotoCorp: The company will start deliveries of Harley-Davidson X440s on Oct. 15, while the booking window reopens on Oct. 16.
Rail Vikas Nigam: The company bagged a Rs 444 crore order from the Himachal Pradesh government for the development of distribution infrastructure in the north zone, which will be executed within 24 months.
UPL: The company incorporated a Sri Lanka subsidiary, UPL Lanka Bio, with an investment of nearly $2 million over the next three years.
APL Apollo Tubes: The company's Q2 sales volume stood at a record 6.74 lakh metric tonnes, up 12% year-on-year.
Muthoot Finance: The company's shareholders, via a special resolution, increased the borrowing powers of the board to Rs 1 lakh crore.
JSW Infrastructure: Moody's changed the company's outlook to stable from positive and upgraded ratings to Ba1 from Ba2 due to IPO-led fundraising and cargo volumes.
Raymond: The company will invest nearly Rs 301 crore in unit Ten X Realty in one or more tranches through investments in redeemable preference shares and inter-corporate deposits
Zensar Technologies: Samir Gosavi resigned as Senior Vice President.
Titagarh Rail Systems: The company bagged a Rs 857 crore order from Gujarat Metro Rail for manufacturing 72 standard gauge metro cars for Surat Metro.
Strides Pharma: The drugmaker received USFDA approval for Icosapent Ethyl Capsules, a bioequivalent to Vascepa of Amarin, with a market size of $1.3 billion per IQVIA.
Polyplex Corp: The promoter group will sell a 24.3% stake to Dubai-based APG Holdco for Rs 1,188.9 crore.
V-Mart: The company reported an 8% jump in revenue from operations to Rs 549 crore year-on-year.
ADF Foods: Balark Banerjea appointed President Indian Domestic Business
South Indian Bank: Q2 Update | Gross advances up 10.3% (YoY) at Rs 74,975 cr Vs Rs 67,963 cr
@daytradertelugu
HDFC Bank: The bank sent out a detailed memo to its employees detailing management changes. IT and tech have been brought under the CEO's purview. Ashish Parthasarthy will handle branch business, while Arvind Kapil will manage mortgages and retail businesses.
Adani Enterprises: Abu Dhabi-based IHC Capital Holding raised its stake to 5.04% through open-market deals.
Maruti Suzuki: The carmaker received a draft assessment order from the Income Tax Authority amounting to Rs 2,160 crore for FY 2019–20. The company will file objections before the Dispute Resolution Panel. Further, it reported total output for September at 1.74 lakh units, down 1.4% year-on-year.
Bajaj Finserv: Unit Bajaj Allainz General Insurance received a Rs 1,010 crore-show cause cum demand notice from GST authorities for alleged non-payment of GST on co-insurance and re-insurance premiums.
Avenue Supermart: The retailer's standalone revenue for Q2 FY24 was up 18.5% year-on-year at Rs 12,307.72 crore. The total number of stores as of September stood at 336.
Nestle India: The board will meet on Oct. 19 to mull the stock split of shares and the second interim dividend for the year 2023.
Pidilite Industries: Unit Pidilite MEA Chemicals and Spain-based Corporacion Empresarial Grupo Puma SL incorporated a 50:50 joint venture company in the UAE for the manufacturing of construction chemicals.
Hindustan Zinc: The company will be split into three entities: zinc, silver, and recycling, said Vedanta Chairman Anil Agarwal.
Vedanta: Chairman Anil Agarwal said the company is on course to repay the majority of its $6.4 billion debt in January and August next year. The remaining debt will be repaid via the strategic sale of steel and iron ore companies.
Hero MotoCorp: The company will start deliveries of Harley-Davidson X440s on Oct. 15, while the booking window reopens on Oct. 16.
Rail Vikas Nigam: The company bagged a Rs 444 crore order from the Himachal Pradesh government for the development of distribution infrastructure in the north zone, which will be executed within 24 months.
UPL: The company incorporated a Sri Lanka subsidiary, UPL Lanka Bio, with an investment of nearly $2 million over the next three years.
APL Apollo Tubes: The company's Q2 sales volume stood at a record 6.74 lakh metric tonnes, up 12% year-on-year.
Muthoot Finance: The company's shareholders, via a special resolution, increased the borrowing powers of the board to Rs 1 lakh crore.
JSW Infrastructure: Moody's changed the company's outlook to stable from positive and upgraded ratings to Ba1 from Ba2 due to IPO-led fundraising and cargo volumes.
Raymond: The company will invest nearly Rs 301 crore in unit Ten X Realty in one or more tranches through investments in redeemable preference shares and inter-corporate deposits
Zensar Technologies: Samir Gosavi resigned as Senior Vice President.
Titagarh Rail Systems: The company bagged a Rs 857 crore order from Gujarat Metro Rail for manufacturing 72 standard gauge metro cars for Surat Metro.
Strides Pharma: The drugmaker received USFDA approval for Icosapent Ethyl Capsules, a bioequivalent to Vascepa of Amarin, with a market size of $1.3 billion per IQVIA.
Polyplex Corp: The promoter group will sell a 24.3% stake to Dubai-based APG Holdco for Rs 1,188.9 crore.
V-Mart: The company reported an 8% jump in revenue from operations to Rs 549 crore year-on-year.
ADF Foods: Balark Banerjea appointed President Indian Domestic Business
South Indian Bank: Q2 Update | Gross advances up 10.3% (YoY) at Rs 74,975 cr Vs Rs 67,963 cr
@daytradertelugu
