Stocks to Watch Today: Key Updates on Tata Motors, Nykaa, Ola Electric, and More

Here’s a quick overview of stocks expected to be in the spotlight today:

Tata Motors:

Tata Motors’ luxury car division, Jaguar Land Rover (JLR), reported a 3% drop in retail sales for the second quarter of FY25, totaling 103,108 units. However, sales for the first half of the fiscal year rose 3% year-on-year, reaching 214,288 units. Production in Q2 was limited to 86,000 units due to aluminum supply issues. Regional sales varied, with a 29% increase in the UK and 9% in North America, but a decline of 22% in Europe, 17% in China, and 6% in other regions.

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Nykaa:

Nykaa experienced a consolidated net revenue growth in the mid-twenties for the quarter ending September 2024. However, the fashion segment struggled with demand in the first half of FY25. The industry expects a gradual recovery in the second half, aided by the upcoming festive and wedding season.

Ola Electric:

Ola Electric received a show cause notice from the Central Consumer Protection Authority due to a rise in customer complaints about service issues. The company has 15 days to respond to allegations of unfair trade practices and misleading advertisements, following growing public criticism of its service.

Hero Motors:

The Securities and Exchange Board of India (SEBI) announced that Hero Motors has withdrawn its draft red herring prospectus as of October 5. Meanwhile, Suraksha Diagnostic received approval for its initial public offering (IPO). Hero Motors had initially planned a ₹900-crore public issue that included a fresh equity share issuance of ₹500 crore and an offer-for-sale of ₹400 crore.

Axis Bank:

Axis Bank has secured a $500 million loan from the International Finance Corporation (IFC) to boost green project financing in India. This marks the IFC’s first blue investment in India and the country’s first blue loan from a financial institution.

Pfizer:

Pfizer won a legal case in a London court that invalidated two of GSK’s patents related to a vaccine for respiratory syncytial virus (RSV). Both companies are competing to dominate the market for RSV vaccines, which target cold-like symptoms and pneumonia, especially in young children and older adults. GSK stated that this ruling won’t affect its plans to launch and market its RSV vaccine, Arexvy.

Hi-Tech Pipes:

The board of Hi-Tech Pipes approved launching a Qualified Institutional Placement (QIP), setting the floor price at ₹194.98 per share. The company aims to raise ₹600 crore through the QIP and may offer a discount of up to 5% on the floor price. Hi-Tech Pipes is India’s third-largest pipe manufacturer, with nearly one million tonnes of production capacity.

HDFC Bank:

HDFC Bank announced it will sell its 100% stake in HDFC Education to Vama Sundari Investments for ₹192 crore in an all-cash deal, priced at ₹9.60 per share. The bank plans to divest 91% of its stake by October 31, 2024, and the remaining 9% by June 30, 2025, after which HDFC Education will no longer be a subsidiary.

Kalyan Jewellers:

Kalyan Jewellers reported a strong 39% revenue growth in India for the second quarter of FY25, boosted by increased foot traffic and a 23% rise in same-store sales. The reduction in customs duties on gold imports has positively impacted sales, and the company is planning to expand its showroom presence ahead of the festive season.

Results Today:

Companies like Navkar Corporation, Transformers and Rectifiers India, VL E-Governance & IT Solutions, Darshan Orna, Emerald Finance, Gautam Gems, Hawa Engineers, and Integra Switchgear are scheduled to announce their quarterly earnings on October 8.