Stocks to Watch Today: Key Updates on Cochin Shipyard, HDFC Life, PVR Inox, and More

Here’s a quick update on stocks that are expected to be in the spotlight today.

Cochin Shipyard: The government plans to sell a 5% stake in Cochin Shipyard through an Offer for Sale (OFS), with a starting price of ₹1,540 per share. The OFS will have a base offer of 2.5%, with another 2.5% available later. It opens for non-retail investors today (October 16) and for retail investors on October 17.

KEI Industries: KEI Industries reported a 10.3% rise in net profit to ₹154.8 crore for the second quarter ending September 30, 2024. Last year, their profit was ₹140.3 crore. Revenue grew by 17.2% to ₹2,279.6 crore, up from ₹1,945 crore during the same period last year.

Adani Energy Solutions (AESL): AESL has bought two project-specific companies from PFC Consulting for about ₹38 crore. This acquisition includes full ownership of Jamnagar Transmission Ltd and Navinal Transmission Ltd, which focus on expanding power transmission networks in Gujarat.

PVR Inox: PVR Inox reported its third consecutive quarterly loss, with a net loss of ₹11.8 crore for the quarter ending September 30, down from a profit of ₹166 crore last year. Revenue fell by 19% to ₹162.2 crore, mainly due to a 25% drop in ticket sales. The company hopes to improve results with upcoming releases like Singham Again and Bhool Bhulaiyaa 3 and plans to open 110-120 new screens by March 2025, even as it closes 42 underperforming ones.

Rallis India: Rallis India saw a 19.5% increase in net profit, reaching ₹98 crore for the second quarter, up from ₹82 crore last year. Revenue from operations grew by 11.5% to ₹928 crore.

PNC Infratech: PNC Infratech has received Letters of Acceptance (LoA) for two major road projects from the Maharashtra State Road Development Corporation (MSRDC). One project is to build the access-controlled Pune Ring Road.

HDFC Life: HDFC Life reported a 14.85% rise in net profit to ₹433 crore for Q2 FY2024-25, along with a 17.1% increase in the value of new business (VNB) to ₹938 crore. The company also raised ₹1,000 crore through non-convertible debentures to improve its solvency ratio.

G R Infraprojects: G R Infraprojects received an LoA from MSRDC for a project worth ₹1,885.63 crore, which involves constructing a 9.341-km segment of the Pune Ring Road.

Mastek: Smallcap World Fund Inc sold a 1.7% stake in Mastek for ₹148.5 crore at an average price of ₹2,801.68 per share. Aalidhra Textool Engineers bought a 0.65% stake at an average price of ₹2,800.81 per share.

Central Bank of India: The Competition Commission of India has approved Central Bank of India’s plan to acquire nearly 25% of Future Generali India Insurance and Life Insurance.

RailTel Corporation of India: RailTel has secured a work order worth ₹79.84 crore from the Maharashtra Housing and Area Development Authority to set up and manage a data center and disaster recovery site on the cloud.

Earnings Today: Several companies, including Bajaj Auto, L&T Technology Services, and South Indian Bank, will announce their earnings today.