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Stocks to watch: Shares of firms like PB Fintech, Swiggy, Wipro, HUL, IndiGo, Vedanta, RVNL, and others will be in focus on Wednesday’s trade
Stocks to watch (Representational/ File Photo)
Stocks To Watch On November 4: The markets continued their recovery for the third consecutive session, posting gains of over half a percent. Today, several stocks including PB Fintech, Swiggy, Reliance Power, Honasa Consumer, and Wipro will be in focus due to recent developments.
PB Fintech: The company announced the formation of a wholly-owned subsidiary, PB Healthcare, which will offer healthcare and allied services.
Bank stocks: On Tuesday, the Lok Sabha approved the Banking Laws (Amendment) Bill, 2024, tabled by Union Finance Minister Nirmala Sitharaman. The Bill proposes 19 amendments to banking laws, including changes to the Reserve Bank of India Act, Banking Regulation Act, and the Banking Companies (Acquisition and Transfer of Undertakings) Act.
Hindustan Unilever (HUL): The company’s Vim brand, a leader in the dishwashing market, is expected to soon surpass Rs 3,000 crore in sales.
Adani Energy Solutions (AESL): AESL has emerged as the preferred bidder for a Rs 25,000 crore transmission system project under Rajasthan Part-I Power Transmission. This would be AESL’s largest order win if formally awarded.
Adani Group stocks: The group has significantly improved its net debt to EBITDA ratio and cash reserves over the past two years, despite a rise in gross debt, according to global financial services firm Bernstein. The ratio improved to 2.7 in September 2024 from 4.4 in March 2023, with notable improvements from Adani Green, Adani Transmission, and Adani Power.
Meanwhile, the Andhra Pradesh government is reviewing its options regarding a 7,000 MW solar power project with the Adani Group, following bribery allegations involving Adani Green Energy Limited (AGEL) and former Chief Minister YS Jagan Mohan Reddy.
Swiggy: The company reported a slight reduction in its consolidated net loss for Q2FY25, which narrowed to Rs 625.5 crore from Rs 657 crore in the previous year. However, the loss increased sequentially from Rs 611 crore in Q1FY25.
DLF: The real estate company announced the appointment of Badal Bagri as its new Chief Financial Officer (CFO), effective December 6.
Vedanta: CRISIL Ratings has upgraded the company’s long-term bank facilities and debt instruments, citing an improved capital structure, better financial flexibility, and strong volume growth as key reasons.
GMR Airports: The Competition Commission of India (CCI) has approved a transaction between GMR Infra Enterprises Pvt Ltd and a trust of the Abu Dhabi Investment Authority, involving the subscription of unlisted optionally convertible debentures of GMR Infra Enterprises.
Bank of Baroda (BoB): The public sector bank plans to raise an additional Rs 5,000 crore through infrastructure bonds, benefiting from current soft interest rate trends.
Bank of India (BoI): Similarly, BoI intends to raise Rs 5,000 crore through infrastructure bonds, capitalizing on favorable interest rate conditions.
Defence stocks: The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, has approved five capital acquisition proposals worth over Rs 21,772 crore.
InterGlobe Aviation (IndiGo): IndiGo has filed a case in the Delhi High Court against Mahindra Electric Automobile, alleging trademark infringement over the use of ‘6e’ in Mahindra’s upcoming electric car, the BE 6e, set to launch in February 2025.
PNB Housing Finance: The company plans to launch loans against property (LAP) as a separate segment from April, according to its Managing Director & CEO Girish Kousgi.
Reliance Power: Solar Energy Corporation of India (SECI) has withdrawn a debarment notice against Reliance Power, allowing the company to participate in future tenders of the public sector entity.
Godrej Properties: The company has raised Rs 6,000 crore through a qualified institutional placement (QIP), marking the largest such fundraising by a real estate company in India.
Honasa Consumer: Co-founder Varun Alagh has increased his stake in the company to 31.93% through a Rs 4.5 crore investment.
RVNL: RVNL has received a letter of authorisation (LoA) from East Central Railway for a project valued at Rs 187 crore.
Wipro: Wipro, an IT services company, has partnered with Netskope to provide cybersecurity optimisation advisory services.
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