Stock in news: HDFC Bank, Ultratech, Kotak Bank, Wipro, TechM, JSW Steel, RBL Bank & GRSE
Stocks including HDFC Bank, Ultratech, Kotak Mahindra Bank, Wipro, TechM, JSW Steel, RBL Bank, Tata Consumer, Godrej Properties, GRSE and more will be the spotlight on Monday, October 21.
- Oct 21, 2024,
- Updated Oct 21, 2024 7:55 AM IST
Indian benchmark indices settled higher on Friday after a sharp rebound from the early jitters during the session, led by buying in select pockets and a slew of positive global cues. BSE Sensex rose 218.14 points or 0.27 per cent, to end at 81,224.75. NSE's Nifty50 rallied 104.20 points, or 0.42 per cent, to close at 24,854.05. Here are the stocks that may remain under spotlight before the opening bell on Monday, October 21, 2024:
Q2 results today: Ultratech Cement, CG Power & Industrial Solutions, Bajaj Housing Finance, Union Bank of India, 360 One WAM, Cyient DLM, Authum Investment & Infrastructure, HFCL, Gravita India, Supreme Petrochem, Maharashtra Scooters, City Union Bank, Route Mobile, Aurionpro Solutions and more will announce their results for the September 2024 quarter later today.
HDFC Bank: India's largest private sector lender reported a standalone profit after tax rising 5.3 per cent YoY to Rs 16,821 crore for the quarter ended September 2024 . Its net interest income (NII) rose 10 per cent YoY to Rs 30,113 crore during the quarter. HDFC Bank also approved a Rs 12,500 crore IPO of HDB Financial Services.
Wipro: The IT solutions player has incorporated its step-down subsidiary, Wipro Life Science Solutions, LLC, in the US, effective October 10, to explore new business opportunities in the life sciences segment.
Kotak Mahindra Bank: The private sector lender reported a 5 per cent YoY rise in its standalone profit after tax (PAT) at Rs 3,344 crore in Q2FY24. Its net interest income (NII) for the quarter increased 11 per cent YoY to Rs 7,020 crore. They will acquire personal loan book of Standard Chartered Bank, India
JSW Steel: Jsquare Electrical Steel Nashik, a wholly owned subsidiary of the company—a 50:50 joint venture between JSW Steel and JFE Steel Corporation—has entered into a share purchase agreement to acquire 100 per cent stake in thyssenkrupp Electrical Steel India for Rs 4,051.4 crore.
Tech Mahindra: The IT services firm reported a 153.1 per cent YoY jump in its consolidated net profit at Rs 1,250 crore, while its revenue also rose by 3.5 per cent YoY to Rs 13,313 crore. The Mahindra Group company also declared an interim dividend of Rs 15 per equity share and fixed November 1 as the record date for determining eligibility of shareholders.
Tata Consumer Products: The FMCG giant reported a flat net profit of Rs 359.3 crore for the second quarter of September 30, 2024. The company's revenue from operations increased 13 per cent to Rs 4,214.5 crore, while its ebitda rose 16.6 per cent to Rs 626.3 crore.
Canara Bank: The Bank of Tanzania has approved the sale of assets and liabilities of Canara Bank Tanzania to Exim Bank Tanzania, leading to the eventual winding up of Canara Bank Tanzania.
Godrej Properties: The real estate player has acquired 3 acres of land in Ahmedabad, which has a development potential of 0.9 million square feet of saleable area. This area comprises premium residential apartments with an estimated booking value of Rs 1,300 crore.
RBL Bank: The private lender reported a 24 per cent YoY fall in its profit after tax (PAT) to Rs 223 crore for the second quarter ended September 2024 with a growth of 9 per cent YoY in its net interest income (NII), which came in at Rs 1,615 crore. The net interest margins (NIMs) stood at 5.04 per cent for the quarter.
Garden Reach Shipbuilders & Engineers: The defence and shipping company has received letters of intent for a contract worth Rs 491 crore from the Ministry of Defence. The contract involves the design, development, construction, integration of equipment, testing, certification, commissioning, and supply of one Acoustic Research Ship (ARS).
KPIT Technologies: The IT solutions provider's board will consider fundraising via the issuance of equity shares or any other instruments on October 23. Additionally, the company's wholly owned step-down subsidiary, PathPartner Technology GmbH in Germany, has been voluntarily liquidated effective October 2.
Alembic Pharmaceuticals: The pharma company has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Diltiazem Hydrochloride extended-release capsules USP in 120 mg, 180 mg, and 240 mg. These capsules are used for the treatment of hypertension.
JM Financial: The Reserve Bank of India has lifted the restrictions imposed on JM Financial Products, a material subsidiary of the company, with immediate effect. The RBI had restricted the company from financing against shares and debentures in March this year. Now, the company is allowed to provide financing against shares and debentures.
Bank of Maharashtra: The lender has increased its marginal cost of funds-based lending rate for tenure of more than six months by 5 basis points from 9 per cent to 9.05 per cent, effective October 19.
MOIL: The mining company has signed a draft joint venture agreement with Madhya Pradesh State Mining Corporation (MPSMCL) for carrying out exploration and mining activities, including value addition projects in Madhya Pradesh. This agreement is subject to the approval of the respective Boards and the Government.
PTC Industries: The industrial product player has executed a share purchase agreement with Rcapital, Liam Marc Bevington, Kevin Andrew Mooney, and Paul Brian Young for the acquisition of 100 per cent shareholding in Trac Precision Solutions. Trac specializes in designing and manufacturing precision-engineered components for the aviation, defence, and power generation markets.
CG Power and Industrial Solutions: The motor and generator company's board will meet on October 21 to consider fundraising via the issuance of equity shares, debentures, warrants, preference shares, or any other equity-linked securities.
Dodla Dairy: The dairy company has completed the acquisition of a 35.23-acre land parcel in Dharashiv, Maharashtra, for setting up a plant.
PG Electroplast: The company board has approved the issuance of equity shares or other convertible securities worth up to Rs 1,500 crore via Qualified Institutions Placement.
HMA Agro Industries: The meat company has signed a memorandum of understanding (MoU) with Perbadanan Kemajuan Pertanian Selangor (Selangor Agricultural Development Corporation), a government entity from the state of Selangor, Malaysia, for joint collaboration for the supply of frozen boneless buffalo meat and exploring other initiatives.
Indian benchmark indices settled higher on Friday after a sharp rebound from the early jitters during the session, led by buying in select pockets and a slew of positive global cues. BSE Sensex rose 218.14 points or 0.27 per cent, to end at 81,224.75. NSE's Nifty50 rallied 104.20 points, or 0.42 per cent, to close at 24,854.05. Here are the stocks that may remain under spotlight before the opening bell on Monday, October 21, 2024:
Q2 results today: Ultratech Cement, CG Power & Industrial Solutions, Bajaj Housing Finance, Union Bank of India, 360 One WAM, Cyient DLM, Authum Investment & Infrastructure, HFCL, Gravita India, Supreme Petrochem, Maharashtra Scooters, City Union Bank, Route Mobile, Aurionpro Solutions and more will announce their results for the September 2024 quarter later today.
HDFC Bank: India's largest private sector lender reported a standalone profit after tax rising 5.3 per cent YoY to Rs 16,821 crore for the quarter ended September 2024 . Its net interest income (NII) rose 10 per cent YoY to Rs 30,113 crore during the quarter. HDFC Bank also approved a Rs 12,500 crore IPO of HDB Financial Services.
Wipro: The IT solutions player has incorporated its step-down subsidiary, Wipro Life Science Solutions, LLC, in the US, effective October 10, to explore new business opportunities in the life sciences segment.
Kotak Mahindra Bank: The private sector lender reported a 5 per cent YoY rise in its standalone profit after tax (PAT) at Rs 3,344 crore in Q2FY24. Its net interest income (NII) for the quarter increased 11 per cent YoY to Rs 7,020 crore. They will acquire personal loan book of Standard Chartered Bank, India
JSW Steel: Jsquare Electrical Steel Nashik, a wholly owned subsidiary of the company—a 50:50 joint venture between JSW Steel and JFE Steel Corporation—has entered into a share purchase agreement to acquire 100 per cent stake in thyssenkrupp Electrical Steel India for Rs 4,051.4 crore.
Tech Mahindra: The IT services firm reported a 153.1 per cent YoY jump in its consolidated net profit at Rs 1,250 crore, while its revenue also rose by 3.5 per cent YoY to Rs 13,313 crore. The Mahindra Group company also declared an interim dividend of Rs 15 per equity share and fixed November 1 as the record date for determining eligibility of shareholders.
Tata Consumer Products: The FMCG giant reported a flat net profit of Rs 359.3 crore for the second quarter of September 30, 2024. The company's revenue from operations increased 13 per cent to Rs 4,214.5 crore, while its ebitda rose 16.6 per cent to Rs 626.3 crore.
Canara Bank: The Bank of Tanzania has approved the sale of assets and liabilities of Canara Bank Tanzania to Exim Bank Tanzania, leading to the eventual winding up of Canara Bank Tanzania.
Godrej Properties: The real estate player has acquired 3 acres of land in Ahmedabad, which has a development potential of 0.9 million square feet of saleable area. This area comprises premium residential apartments with an estimated booking value of Rs 1,300 crore.
RBL Bank: The private lender reported a 24 per cent YoY fall in its profit after tax (PAT) to Rs 223 crore for the second quarter ended September 2024 with a growth of 9 per cent YoY in its net interest income (NII), which came in at Rs 1,615 crore. The net interest margins (NIMs) stood at 5.04 per cent for the quarter.
Garden Reach Shipbuilders & Engineers: The defence and shipping company has received letters of intent for a contract worth Rs 491 crore from the Ministry of Defence. The contract involves the design, development, construction, integration of equipment, testing, certification, commissioning, and supply of one Acoustic Research Ship (ARS).
KPIT Technologies: The IT solutions provider's board will consider fundraising via the issuance of equity shares or any other instruments on October 23. Additionally, the company's wholly owned step-down subsidiary, PathPartner Technology GmbH in Germany, has been voluntarily liquidated effective October 2.
Alembic Pharmaceuticals: The pharma company has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Diltiazem Hydrochloride extended-release capsules USP in 120 mg, 180 mg, and 240 mg. These capsules are used for the treatment of hypertension.
JM Financial: The Reserve Bank of India has lifted the restrictions imposed on JM Financial Products, a material subsidiary of the company, with immediate effect. The RBI had restricted the company from financing against shares and debentures in March this year. Now, the company is allowed to provide financing against shares and debentures.
Bank of Maharashtra: The lender has increased its marginal cost of funds-based lending rate for tenure of more than six months by 5 basis points from 9 per cent to 9.05 per cent, effective October 19.
MOIL: The mining company has signed a draft joint venture agreement with Madhya Pradesh State Mining Corporation (MPSMCL) for carrying out exploration and mining activities, including value addition projects in Madhya Pradesh. This agreement is subject to the approval of the respective Boards and the Government.
PTC Industries: The industrial product player has executed a share purchase agreement with Rcapital, Liam Marc Bevington, Kevin Andrew Mooney, and Paul Brian Young for the acquisition of 100 per cent shareholding in Trac Precision Solutions. Trac specializes in designing and manufacturing precision-engineered components for the aviation, defence, and power generation markets.
CG Power and Industrial Solutions: The motor and generator company's board will meet on October 21 to consider fundraising via the issuance of equity shares, debentures, warrants, preference shares, or any other equity-linked securities.
Dodla Dairy: The dairy company has completed the acquisition of a 35.23-acre land parcel in Dharashiv, Maharashtra, for setting up a plant.
PG Electroplast: The company board has approved the issuance of equity shares or other convertible securities worth up to Rs 1,500 crore via Qualified Institutions Placement.
HMA Agro Industries: The meat company has signed a memorandum of understanding (MoU) with Perbadanan Kemajuan Pertanian Selangor (Selangor Agricultural Development Corporation), a government entity from the state of Selangor, Malaysia, for joint collaboration for the supply of frozen boneless buffalo meat and exploring other initiatives.