Stocks to Watch: TCS, Reliance, Titan, Biocon, TVS Motors and others in news

Here are the top stocks that could be in focus in today’s trade:

Tata Consultancy Services:

India’s leading IT services exporter, TCS, has announced that its Board of Directors will review a proposal for a share buyback on October 11. Additionally, TCS will unveil its earnings report for both the July–September and April–September periods of FY24 on the same day.

Reliance Industries:

A subsidiary of the Abu Dhabi Investment Authority (ADIA) is set to invest Rs 4,966.80 crore in Reliance Retail Ventures, a subsidiary of Reliance Industries. This investment values Reliance Retail Ventures at a pre-money equity value of Rs 8.381 lakh crore, resulting in ADIA holding a 0.59 percent equity stake in Reliance Retail Ventures on a fully diluted basis.

Titan Company:

The conglomerate, known for its jewelry, watches, and eyewear, reported a 20 percent year-on-year revenue growth for the quarter ending September FY24. The jewelry division saw a 19 percent growth, watches and wearables grew by 32 percent, and the eyecare segment registered a 12 percent year-on-year increase. Titan also expanded with the addition of 81 stores in Q2 FY24, bringing its retail presence to 2,859 stores as of September FY24.

Bank of Baroda:

The public sector lender has crossed the Rs 22-lakh-crore total business mark for the quarter ending September FY24, representing a 15.88 percent year-on-year increase. Total advances grew by 17.43 percent year-on-year to Rs 10.25 lakh crore, while deposits increased by 14.63 percent year-on-year to Rs 12.49 lakh crore as of September FY24.

Biocon:

The biopharmaceutical company based in Bengaluru has partnered with Juno Pharmaceuticals, a Canadian specialty pharmaceutical firm, to commercialize its formulation, Liraglutide. This drug-device combination targets type 2 diabetes and obesity. Biocon will be responsible for obtaining regulatory approval for Liraglutide and its subsequent manufacturing and supply in the Canadian market.

Metropolis Healthcare:

The pathology labs and diagnostic centers chain achieved a 13 percent year-on-year growth in its core business revenue for the quarter ending September FY24, excluding COVID-related revenues. The growth was largely driven by volume, reflecting strong customer acquisition. B2C revenue increased by 15 percent year-on-year, primarily due to volume and new patient growth, with gross debt standing at Rs 44 crore as of September 2023.

Prestige Estates Projects:

The real estate developer recorded a remarkable 102 percent year-on-year growth in sales, totaling Rs 7,092.6 crore for the quarter ending September FY24. The company’s quarterly collections reached Rs 2,639.8 crore, representing a 1 percent year-on-year increase. These impressive sales figures were driven by a 50 percent year-on-year increase in volume, with apartments and villas achieving an average realization of Rs 10,369 per square foot (up 29 percent year-on-year), and plot sales achieving an average realization of Rs 6,753 per square foot (up 62 percent year-on-year). The group sold 3,659 units during the second quarter of FY24.

TVS Motor Company:

In celebration of their 10-year partnership, TVS Motor and BMW Motorrad have initiated the production of their first jointly designed, developed, and industrialized electric vehicle, the BMW CE 02, at the Hosur plant. Additionally, they announced plans to roll out 1.5 lakh units of BMW Motorrad’s 310cc series of motorcycles.

Indian Energy Exchange:

The leading energy exchange has entered into a Share Subscription Agreement and Shareholders’ Agreement with Enviro Enablers India, a recycling and waste management services company. Under this agreement, IEX will acquire a 10 percent stake in Enviro through compulsory convertible preference shares (CCPS). This strategic move aligns with IEX’s commitment to sustainability and decarbonization, in line with India’s net-zero commitments.

Vakrangee:

The technology company has partnered with JK Cement to provide lead generation for the sale of grey cement through Vakrangee Kendra networks. With 84 percent of Vakrangee Kendra outlets in Tier-4 to 6 locations, this association will enable Vakrangee to allow its customers to access cement products in the most remote parts of the country.

United Spirits:

Navin Jain has resigned as Tax Director, Asia & India, of the beverage alcohol company, with effect from December 31, 2023, to pursue opportunities outside of Diageo.

Kernex Microsystems India:

Sunny Sharma has resigned as Chief Financial Officer and key managerial personnel of the company due to personal reasons. Sunny will be relieved as CFO on October 25.

Adani Green Energy:

The subsidiary, Adani Solar Energy Jaisalmer Two Private Limited, has successfully commissioned the entire 150 MW solar power project in Bikaner, Rajasthan, as an independent power producer for the sale of power to third parties or on power exchanges. This commissioning brings the company’s total operational renewable generation capacity to 8,404 MW.

Puravankara:

The Income Tax Department has conducted searches at the registered office and other premises of the company. All employees of the company are cooperating fully with the officials.

Aster DM Healthcare:

Subsidiary Aster DM Healthcare (Trivandrum) has entered into a lease agreement with an association of persons (a consortium of 18 individuals) to expand Aster Whitefield Hospital in Bengaluru. This expansion will add a new block of 159 beds, increasing the hospital’s capacity from 347 beds to 506 beds.

Punjab National Bank:

Sanjeevan Nikhar has been appointed as the Group Chief Compliance Officer of the public sector lender, effective immediately. Sanjeevan Nikhar previously served as the chief general manager of the bank.

Tamilnad Mercantile Bank:

The Reserve Bank of India has advised the private sector lender to identify a regular MD and CEO immediately and submit an application to the Reserve Bank of India for approval. S. Krishnan will continue as the MD and CEO of the bank until his successor assumes office. RBI has also directed the bank to provide a timeline for submitting applications to RBI by October 31.

Adani Energy Solutions:

The Adani Group company has acquired 100 percent equity shares of Sangod Transmission Service (STSL) from Rajasthan Rajya Vidyut Prasaran Nigam. The STSL project includes the implementation of a transmission project at Sangod, along with a 220/132 kV, 160 MVA transformer, and associated transmission line.

Aurum PropTech:

The company has established a subsidiary, Aurum PropTech MENA LLC, in Dubai, United Arab Emirates, which will be involved in information technology services, marketing, and advertising Aurum PropTech Group products.

Jindal Stainless:

IIT Bombay has signed an agreement with Jindal Stainless to establish a chair professorship at the institute. This chair will support and enhance research in industrial processes and product technologies in the stainless steel sector.

Capri Global Capital:

The gold loan AUM (assets under management) of Capri Global Capital has surpassed the Rs 2,000 crore milestone. This achievement comes just 13 months after the commencement of business, and the company aims to achieve a Rs 3,000 crore gold loan AUM by March 2024.

Shree Renuka Sugars:

The sugar company has successfully completed the acquisition of 100 percent equity shares of Anamika Sugar Mills for Rs 235.5 crore. This acquisition will enable the company to establish a presence in Uttar Pradesh, one of the largest sugar-producing states, and cater to the markets of North and East India.

REC:

Subsidiary REC Power Development & Consultancy has incorporated two wholly-owned subsidiaries, Khavda IV C Power Transmission and Khavda IV-E2 Power Transmission.

Rail Vikas Nigam:

The state-owned railway company has received a Letter of Acceptance (LOA) from Maharashtra Metro Rail Corporation for the design and construction of an elevated metro viaduct. The order, worth Rs 395 crore, is expected to be completed within 30 months.

PB Fintech:

Europe-based financial services group Societe Generale has acquired 26.26 lakh equity shares, representing a 0.58% stake, in the Policybazaar operator at an average price of Rs 762.8 per share through open market transactions. Meanwhile, Softbank entities SVF Python II (Cayman) and SVF India Holdings (Cayman) have offloaded 1.14 crore equity shares, representing a 2.5% stake in the company at the same average price, amounting to Rs 871.2 crore.

Vedanta:

The mining company has incorporated a wholly-owned subsidiary, Vedanta Aluminium Metal, on October 6. This new subsidiary will focus on the aluminum business.

Tata Steel:

Tata Steel has released provisional volume figures for the quarter ending September FY24. India’s production volume increased by 4% year-on-year to 4.99 million metric tonnes, while delivery volume decreased by 1.8% to 4.82 million metric tonnes during the same period. In Europe, production volume declined by 17.08% year-on-year to 1.99 million metric tonnes, and delivery volume decreased by 4.3% to 1.79 million metric tonnes in Q2 FY24.

Arabian Petroleum:

The lubricants manufacturing company is set to list its equity shares on the NSE Emerge on October 9 at an issue price of Rs 70 per share. Its equity shares will be available for trading in the trade-for-trade segment.

LTI Mindtree:

Paresh Vankar has resigned as Chief Marketing Officer of the company, effective from October 6.

KPI Green Energy:

The company has secured new orders of 4.20 MW for executing solar power projects under the captive power producer (CPP) segment, bringing its cumulative orders for solar power projects to over 100+ MW under the CPP segment.

E Factor Experiences:

The event management company is scheduled to make its debut on the NSE Emerge on October 9, with an issue price set at Rs. 75 per share. Its equity shares will be available for trading in the trade-for-trade segment.

GOCL Corporation:

IDL Explosives, a wholly-owned subsidiary of the company, has secured an order worth Rs 766 crore from Coal India for the supply of bulk explosives over a period of two years.

Multi-Commodity Exchange of India:

The Sebi Technical Advisory Committee has recommended that MCX and MCXCCL go live with the commodity derivative platform and inform SEBI of the proposed go-live date. Consequently, SEBI has withdrawn its directions to MCX and MCXCCL to keep the proposed go-live of commodity derivative platforms on hold. This decision follows the earlier advisory to delay the launch of the new commodity derivative platform.

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