Stocks to Watch; TCS, Titan, Punjab National Bank, Birla, Wipro and others in news

Here are the key stocks that could capture market attention in today’s trading session:

  • Tata Consultancy Services (TCS): TCS is set to reveal its September quarter earnings on October 11, along with several other companies, including Delta Corp, Samhi Hotels, Signature Global (India), Zaggle Prepaid Ocean Services, Dipna Pharmachem, Justride Enterprises, National Standard (India), Plastiblends India, and Sanathnagar Enterprises.
  • Bank of Baroda: The Reserve Bank of India has directed Bank of Baroda to suspend further customer onboarding on the ‘bob World’ mobile application due to certain supervisory concerns. The bank must address these issues before resuming customer onboarding.
  • Wipro: The leading IT services company completed its subscription to the equity share capital of FPEL on October 10 for Rs 6.3 crore. On September 1, the company signed a definitive agreement to subscribe to a 9.5% stake in FPEL Ujwal, which is engaged in the business of developing, building, and managing a portfolio of solar power assets. The transaction is expected to be completed by May 31, 2024.
  • Titan Company: Titan’s board of directors will meet on October 17 to consider the issuance of non-convertible debentures on a private placement basis, within the permissible borrowing limits.
  • Punjab National Bank: V Sundaresan has taken charge of the Credit Review and Monitoring Division in the bank, with effect from October 10.
  • Birla Corporation: The flagship company of the MP Birla Group has received an order from the Office of Collector (Mining), Satna, Madhya Pradesh, imposing a penalty of Rs 8.43 crore for excess production of limestone from captive mining for the period from 2000-01 to 2006-07, without obtaining environment clearance. The company did not take environmental clearance due to the ambiguity in the provisions of EIA Notification 1994, which was only clarified subsequently by the principles laid down in the Common Cause judgement of the Supreme Court dated August 2, 2017. However, the company had valid consent to operate the mines from the State Pollution Control Board.
  • Union Bank of India: Sudarshana Bhat has been elevated to the post of Chief General Manager of Union Bank, with effect from October 10. Sudarshana Bhat was the general manager of the bank. Earlier, Lal Singh was the Chief General Manager of Union Bank, who has now been appointed as Executive Director of Bank of Baroda by the Central Government.
  • NCL Industries: The company has announced cement production for the quarter ended September FY24 at 6,59,300 metric tonnes (MT), up 9% over a year-ago period, and cement dispatches at 6,69,587 MT, up 11% YoY, while cement boards production grew by 12% YoY to 21,509 MT, and cement boards dispatches increased 9% to 20,239 MT.
  • Akzo Nobel India: The paint manufacturing company has received a demand order for the collection of GST along with interest and penalties from the office of the Deputy Commissioner, Karnataka GST Department. The demand order cum penalty stood at Rs 9.95 lakh. The ITC was availed of on ineligible credits pertaining to FY2017–18.
  • EIH Associated Hotels: Shib Sanker Mukherji has resigned from the office of Chairman and Director of the company due to personal reasons, with effect from October 10.
  • Goyal Salt: The raw salt refining company will list its shares on the NSE Emerge on October 11. The issue price is Rs. 38 per share. The shares will be available for trading in the trade-for-trade segment.
  • Sunita Tools: The company is set to debut on the BSE SME on October 11. The issue price is Rs. 145 per share. The stock will be available in the trade-for-trade segment for 10 trading days.
  • Fine Organic Industries: The chemical manufacturing firm has incorporated a wholly owned subsidiary company, namely Fine Organic Industries (SEZ), in India. The new subsidiary will do the business of manufacturing specialty chemical products.
  • Oneclick Logistics India: The logistics services and solutions provider, is set to debut on the NSE Emerge on October 11. The offer price is Rs 99 per share, and the market lot size is 1,200 shares. The shares will be available for trading in the trade-for-trade segment.
  • Canarys Automations: The trading in equity shares of the IT solutions company will commence on the NSE with effect from October 11. The issue price has been fixed at Rs. 31 per share. Its equity shares will be available for trading in series ST, i.e., the trade-for-trade segment.
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