Stocks to Watch; TCS, RVNL, IndusInd Bank, Infosys, Adani Enterprises and others in news

Let’s take a look at the companies making headlines on the morning of October 12, 2023.

1. Adani Enterprises: The company successfully raised Rs 700 crore through a private placement of 70,000 non-convertible debentures (NCDs) with a face value of Rs 1 lakh each.
   
2. Tata Consultancy Services (TCS): TCS reported an 8.7 percent year-on-year growth in profit for the quarter ending September FY24, exceeding analysts’ estimates. The company also announced an interim dividend and a share buyback worth Rs 17,000 crore.
   
3. IndusInd Bank: The Reserve Bank of India (RBI) granted approval to SBI Mutual Fund to acquire up to 9.99 percent of the paid-up share capital in IndusInd Bank.
   
4. Delta Corp: The casino gaming company reported a consolidated profit of Rs 69.44 crore for the quarter ending September FY24.
   
5. Rail Vikas Nigam (RVNL): RVNL emerged as the lowest bidder for a project worth Rs 28.73 crore from Northeast Frontier Railway.
   
6. Cipla: The United States Food and Drug Administration (USFDA) inspected the manufacturing facility of InvaGen Pharmaceuticals Inc., a wholly-owned subsidiary of Cipla.
   
7. Maruti Suzuki India: The company began exporting its Jimny 5-Door vehicle to Latin America, the Middle East, and Africa.
   
8. Larsen & Toubro: The infrastructure major received an order imposing a penalty of Rs 64.98 lakh under the Central Goods and Services Tax Act.
   
9. Patanjali Foods: The FMCG company reported ongoing pricing pressure in the edible oil segment during Q2 FY24, mainly due to excessive imports.
   
10. South Indian Bank: The RBI approved the appointment of V. J. Kurian as the non-executive part-time chairman (independent director) of the bank.
    
11. MIRC Electronics: Vikram Surendran resigned as Chief Executive Officer of the company due to personal reasons.
    
12. PCBL: The company was granted two patents for inventions related to specialty-grade carbon blacks and surface-modified carbon black grades.
    
13. Plaza Wires: The wire and cables manufacturer will make its debut on the BSE and NSE on October 12 at an issue price of Rs 54 per share.
    
14. Pricol: The automotive components maker entered into a cooperation agreement with Heilongjiang Tianyouwei Electronics to provide advanced technologies in driver information system solutions.
    
15. MedPlus Health Services: The retail pharmacy chain received board approval to raise funds up to Rs 1,200 crore via the issuance of non-convertible debentures and warrants.
    
16. National Aluminium Company: The company appointed Jagdish Arora as Director (Projects & Technical).
    
17. Grasim Industries: The Board of Directors will meet on October 16 to consider raising funds through equity shares or other securities.
    
18. EMS: The company received a contract worth Rs 270.82 crore for the laying, testing, and commissioning of sewerage systems and ancillary works.
    
19. Shilpa Medicare: The company received approval for the manufacture and sale of an oral mucositis spray in India under the brand name ORAAL.
    
20. Route Mobile: Subsidiary Route Mobile (Bangladesh) partnered with Robi Axiata in Bangladesh as a technical enabler and sales partner for RCS business messaging.
    
21. Laxmi Organic Industries: The chemicals manufacturer raised Rs 259 crore through a qualified institution placement (QIP) of its equity shares.
    
22. Bhagiradha Chemicals: The Patent Office, Government of India, granted a patent titled “Novel Process for Preparation of Ethiprole” to Bhagiradha Chemicals and Industries.
    
23. Sharp Chucks and Machines: The forging and graded casting machined component manufacturer will debut on the NSE Emerge on October 12 at an issue price of Rs. 58 per share.
    
24. Timken India: The company’s Jamshedpur plant operations will be trimmed down from October 19 to 24 for inventory verification and the Durga Pooja festival.
    
25. Shakti Pumps: The company received approval from the Board of Directors to make an investment of Rs 114.29 crore in subsidiary Shakti EV Mobility.
    
26. Vivaa Tradecom: The clothing and garment manufacturing company will list equity shares on the BSE SME on October 12 at an issue price of Rs. 51 per share.