Stocks to Watch: Auto stocks, Cipla, Fortis, Aurobindo, JSW Infra & others in news

In today’s trading session, several key stocks are expected to draw attention. Here’s a roundup of companies making headlines ahead of the opening bell on October 3, 2023.

Maruti Suzuki India:
India’s leading automaker, Maruti Suzuki, is facing a show-cause notice from the GST Authority. This notice proposes to demand interest and impose penalties, along with appropriating tax payments amounting to Rs 139.3 crore due to tax liability issues on certain services. In brighter news, Maruti Suzuki reported robust sales figures for September 2023, with a 2.85 percent increase over the same period last year, totaling 181,343 units. The company also achieved a significant milestone by surpassing one million units in sales during the first half of the fiscal year.

Adani Total Gas:
Ahlem Friga-Noy has resigned from the position of nominee director of TotalEnergies on the board of Adani Total Gas, effective from September 30, 2023, as part of a restructuring of directorship/nominees within the TotalEnergies Group in India. A new nominee director has been nominated by TotalEnergies, and their appointment awaits approval from the Nomination & Remuneration Committee and the company’s board.

Mahindra & Mahindra:
Mahindra & Mahindra reported strong sales growth in September 2023, with a 17 percent increase compared to the same month last year, totaling 75,604 vehicles, including exports. Domestic passenger vehicle sales stood at 41,267 vehicles, marking a 20 percent year-on-year growth, while tractor sales declined by 11 percent YoY to 43,210 units.

Tata Motors:
Tata Motors announced a 2 percent year-on-year increase in total domestic sales, with 82,023 units sold in September 2023. Commercial vehicle sales also recorded a notable growth of 12 percent YoY, reaching 39,064 units.

Eicher Motors:
Royal Enfield, a subsidiary of Eicher Motors, reported a 4 percent year-on-year decline in sales for September, with 78,580 units sold. While commercial vehicle sales showed promise with an 8.6 percent growth to 7,198 units during the same period, exports of Royal Enfield motorcycles dipped by 49 percent YoY to 4,319 units.

Coal India:
Coal India showcased a robust performance in September 2023, with a 12.6 percent YoY increase in coal supply, totaling 55 million tonnes, and a corresponding 12.6 percent growth in output, reaching 51.4 million tonnes. For the first half of the current financial year, the company produced approximately 333 million tonnes of coal, reflecting an impressive 11.3 percent YoY growth. Additionally, supplies surged by 8.6 percent YoY to reach 360.7 million tonnes during the same period.

Ramkrishna Forgings:
The board of Ramkrishna Forgings has given approval for raising funds of up to Rs 1,000 crore through the issuance of equity shares via qualified institutional placement (QIP). Furthermore, the company’s board approved the conversion of warrants and the allotment of 46 lakh equity shares, corresponding to the exercise of 46 lakh warrants. This move follows the receipt of Rs 70.72 crore at a rate of Rs 153.75 per warrant (75 percent of the warrant issue price) from the warrant holders.

Karur Vysya Bank:
Karur Vysya Bank reported advances amounting to Rs 70,446 crore for the quarter ending September FY24, marking a substantial 15.3 percent growth over the same period last year. During this period, deposits increased by 13.2 percent to reach Rs 83,068 crore, with CASA growing by 3.4 percent YoY to Rs 26,795 crore in Q2FY24.

Hindustan Zinc:
Hindustan Zinc reported its production figures for Q2FY24, with mined metal production at 252kt, a marginal 1 percent YoY decline primarily attributed to lower ore production at Rampura Agucha & Kayad mine. Refined metal production during the second quarter fell by 2 percent YoY to 241kt due to scheduled maintenance activities. Integrated zinc production also declined by 2 percent YoY, reaching 185kt, while refined lead production remained flat at 57kt compared to Q2FY23. Additionally, wind power generation in Q2FY24 reached 157 MU, marking a significant 27 percent YoY increase, driven by higher wind velocity and seasonality factors.

TVS Motor Company:
TVS Motor Company reported total sales of 4.02 lakh units for September 2023, marking a 6 percent YoY growth compared to the same month last year. Two-wheeler sales recorded a 7 percent YoY increase, totaling 3.86 lakh units, while exports grew by 8 percent, reaching 1 lakh units. In contrast, three-wheeler sales experienced a 9.7 percent decline, with 15,598 units sold during the same period.

Granules India:
Granules India has received approval from the US Food & Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Losartan Potassium and Hydrochlorothiazide tablets. These tablets are considered bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Hyzaar tablets of Organon LLC. Losartan potassium and hydrochlorothiazide tablets are used for treating hypertension to lower blood pressure and reduce the risk of stroke in patients with hypertension and left ventricular hypertrophy.

Hero MotoCorp:
Hero MotoCorp, the world’s largest two-wheeler manufacturer, has announced a marginal revision in the ex-showroom prices of select motorcycles and scooters, effective from October 3, 2023. This price increase, averaging around 1 percent, will vary based on specific models and markets. The adjustment is part of Hero MotoCorp’s regular review of product competitiveness, considering factors such as inflation, margins, and market share.

Godrej Agrovet:
Godrej Agrovet is set to establish an integrated palm oil complex in Telangana, with plans to invest Rs 300 crore over the next 3-4 years. As part of this project, the company will also create a nursery with a capacity of up to 7 lakh saplings per year, in addition to its existing seed production and research unit.

Blue Dart Express:
Blue Dart Express, a logistics company, has announced a general price increase effective from January 1, 2024. The average shipment price increase will be approximately 9.6 percent compared to 2023, with variations depending on the shipping profile. Customers signing up between October 1 and December 31, 2023, will not be affected by this price adjustment.

Aurobindo Pharma:
Aurobindo Pharma has divested its 51 percent stake held in UAE-based Saba Investment for $6 million. Consequently, Saba Investment and its subsidiaries, including Cipla Middle East Pharmaceuticals FZ LLC, UAE, and Cipla Medica Pharmaceutical and Chemical Industries, Yemen, are no longer subsidiaries of Aurobindo Pharma.

JSW Infrastructure:
India’s second-largest commercial port operator, JSW Infrastructure, is set to debut on the stock exchanges on October 3, 2023, in the T+3 timeline. The final issue price has been fixed at Rs 119 per share, and the IPO shares were allotted on September 28.

SML Isuzu:
SML Isuzu has decided to increase the prices of its vehicles, including trucks and buses, effective from October 1, 2023. This price adjustment aims to cover the increased input costs due to the implementation of the Fire Alarm and Protection System (FAPS) and general inflation. The price of all buses and trucks will increase in the range of Rs 20,000-30,000, while school buses will see a price hike in the range of Rs 1.95 lakh – 2.45 lakh. In September 2023, the company sold 872 units, marking a 16 percent increase compared to the same period last year.

Indus Towers:
Indus Towers has signed an agreement with IOC Phinergy (IOP) to deploy 300 zero-emission energy systems based on aluminium-air technology. These systems aim to optimize diesel consumption at Indus Towers’ telecom tower sites. This initiative aligns with Indus Towers’ sustainability goals, and the deployment of these energy systems will occur in the coming quarters as part of a pilot project.

Kalpataru Projects International:
Kalpataru Projects International and its international subsidiaries have secured new orders worth Rs 1,016 crore, including orders in the transmission and distribution business amounting to Rs 552 crore.

Mahanagar Gas:
Mahanagar Gas, the natural gas distribution company, has announced a reduction in the retail price of compressed natural gas (CNG) by Rs 3 per kg and domestic PNG (piped natural gas) by Rs 2 per SCM in and around Mumbai.

Vaibhav Jewellers:
Vaibhav Jewellers, based in Andhra Pradesh, has advanced its listing date to October 3, 2023, from the previously scheduled October 6, 2023. The issue price has been finalized at Rs 215 per share, and the IPO shares were allotted on September 28, 2023.

Infibeam Avenues:
Infibeam Avenues, a fintech company, has proposed to license and support its base marketplace intellectual property to the Government e-Marketplace (GeM), which is the online public procurement platform of the Government of India.

Eris Lifesciences:
Eris Lifesciences has entered into a term loan agreement to avail a rupee term loan facility amounting to Rs 212 crore from HDFC Bank. This development is not expected to significantly alter the consolidated net debt of the company, as an equivalent amount is anticipated to be paid by Eris Oaknet Healthcare to the bank for the repayment of outstanding loans over the next fortnight.

Butterfly Gandhimathi Appliances:
Ananda Shalini, Chief Financial Officer (CFO) of Butterfly Gandhimathi Appliances, has submitted her resignation to pursue opportunities outside the company. Her duties will conclude on October 20, 2023.

Indian Hotels:
The Indian Hotels Company Limited has issued a corporate guarantee of 10.05 million euros in favor of lessor Diana Hotel. This guarantee is valid until June 14, 2045, in connection with a lease agreement for a hotel in Frankfurt.

Saakshi Medtech and Panels:
Saakshi Medtech and Panels will list its equity shares on the NSE Emerge on October 3, 2023. The issue price is set at Rs 97 per share, and its equity shares will be available for trading in the trade-for-trade segment.

Bhageria Industries:
Bhageria Industries has received a Letter of Award (LoA) from Paranjape Autocast for the execution of engineering, procurement, and construction (EPC) works for a ground-mounted solar power project with a capacity of 4.5 MW (AC) / 6.0 MWp (DC). This project, which includes a comprehensive 10-year operation and maintenance contract, has a cumulative order value of Rs 27.70 crore.

Kothari Fermentation & Biochem:
Renowned investor Ashish Chugh has acquired 1 lakh shares, equivalent to a 0.67 percent shareholding, in Kothari Fermentation & Biochem through open market transactions at an average price of Rs 67.03 per share.

Tube Investments of India:
Promoter entity Ambadi Enterprises has divested its entire personal shareholding of 10.58 lakh shares in Tube Investments of India via open market transactions at an average price of Rs 2,904.6 per share, amounting to Rs 307.4 crore. SBI Mutual Fund emerged as the buyer, acquiring 12.04 lakh shares or a 0.62 percent stake in the company at an average price of Rs 2,900 per share, totaling Rs 349.4 crore.

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