Stocks To Watch On September 2: Indian markets have regained the recent highs, ending August on a high, reflecting the continuation of optimism. In today’s trade, shares of NBCC, Biocon, Maruti Suzuki, Tata Motors, Bajaj Finance, FirstCry, Unicommerce among others will be in focus due to various news developments.
NBCC: The Board of NBCC approved a bonus issue of shares to shareholders in the ratio of 1:2, which means investors will get one additional share for every 2 shares investors hold in the company.
Tata Motors: Tata Motors posted total sales of 71,693 units in August, which were down from 78,010 units in the same month previous year. Total CV sales were down 15% to 27,207 units.
Federal Bank: Federal Bank has received shareholders approval for the appointment of Krishnan Venkat Subramanian as MD and CEO of the company.
Maruti Suzuki India: The carmaker’s Total sales dropped 3.86 per cent to 1,81,782 units in August, compared to 1,89,082 units sold in the same period last year. That apart, domestic passenger vehicle sales fell 8.4 per cent to 1,43,075 units in the month, compared to 1,56,114 units in the year ago period. Meanwhile, total domestic sales were down 5.3 per cent at 1,55,779 units, compared to 1,64,468 units in the year ago period. Export sales were up 5.65 per cent to 26,003 units, compared to 24,614 units in the year ago period.
MOIL: The company has reduced the prices of ferro-grade manganese ores with manganese content of Mn-44 per cent and above by 20 per cent for September. It has also lowered the prices of all other ferro grades of manganese ore with manganese content below Mn-44 per cent by 15 per cent, and prices of all SMGR (Mn-30 per cent and Mn-25 per cent), fines, and chemical grades by 15 per cent.
Eicher Motors: Sales of Royal Enfield motorcycles fell 5 per cent to 73,629 units in August 2024, compared to 77,583 units in the year ago period. Meanwhile, their exports dropped 2 per cent to 8,006 units, compared to 8,190 units in the year ago period. Sales of VE commercial vehicles grew 1 per cent to 6,543 units, compared to 6,476 units in the year ago period. Domestic sales of VE commercial vehicles increased 2 per cent to 6,028 units, compared to 5,907 units in the year ago period. Meanwhile, their exports declined 23.25 per cent to 255 units, compared to 332 units in the year ago period.
SJVN, NHPC, RailTel Corporation of India: The central government has granted Navratna Status to SJVN, NHPC and RailTel Corporation of India. Now, these state-owned companies will not have to seek the government’s approval for investments upto Rs 1,000 crore.
Biocon: A subsidiary of Biocon has received USFDA approval for Sacubitril/Valsartan tablets and Daptomycin for injection. The company has also received an Establishment Inspection Report (EIR) from the USFDA for its greenfield API facility in Visakhapatnam, allowing it to begin commercial supplies to the US market.
Hindustan Petroleum Corporation: The Ministry of Petroleum and Natural Gas has appointed Rajneesh Narang, currently Director-Finance, as the interim chairman and managing director of the company for three months, starting September 1, after currently service chairman and managing director Pushp Kumar Joshi’s tenure was superannuated, effective September 1.
TVS Motor Company: Total sales of the company grew 13 per cent to 3,91,588 units in August 2024, compared to 3,45,848 units in the year ago period. Two-wheeler sales jumped 14 per cent to 3,78,841 units, compared to 3,32,110 units in the year ago period. Exports surged 14 per cent in the month to 99,976 units, compared to 87,515 units in the year ago period. Meanwhile, electric vehicle sales climbed 4 per cent to 24,779 units, compared to 23,887 units in the year ago period.
Wipro: The company has appointed Srikumar Rao as the global head of its Engineering Edge Business Line, effective from October 5. This follows the resignation of Harmeet Chauhan.
Dixon Technologies India: UBS Principal Capital Asia has sold a 1.14 per cent stake in Dixon Technologies at an average price of Rs 13,178.47 per share, amounting to a total of Rs 904.1 crore.
Emami: The company has acquired the remaining 49.60 per cent stake in Helios Lifestyle, which owns the premium men’s grooming brand ‘The Man Company’. Emami now holds a 100 per cent stake in Helios.
HDFC Asset Management Company: Life Insurance Corporation of India (LIC) has reduced its shareholding in HDFC AMC to 2.88 per cent, from 4.91 per cent between July 1 and August 29.
Insecticides India: The company’s board of directors has approved a buyback of 500,000 shares (1.69 per cent of total equity) for up to Rs 50 crore at Rs 1,000 per share. The record date for the buyback has been set for September 11.
DCM Shriram: Life Insurance Corporation of India (LIC) has decreased its stake in the company to 6.43 per cent, from 8.58 per cent between November 21, 2007, and August 29, 2024.
Oil India: The company has signed hook-up agreements with Indra Dhanus Gas Grid (IGGL) to enhance energy infrastructure in the North-East region.
Bandhan Bank: UBS Principal Capital Asia has acquired a 1.19 per cent stake in the bank at an average price of Rs 200.27 per share, amounting to a total of Rs 384.56 crore.
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