Raymonds, RVNL, Titagarh Systems, Bajaj Finance, Avenue Supermarts, Bank of Maharashtra, Nestle and Maruti among top stocks to track today
Stocks to watch: RVNL announced on Tuesday that it had emerged as the lowest bidder (L1) for the development of distribution infrastructure at the north zone of Himachal Pradesh under the revamped reform-based and results-linked, distribution sector scheme. The project size is Rs 444.26 crore.
Stocks to watch: At around 8:11 a.m. on Wednesday, October 4, the GIFT Nifty futures traded 123.1 points, or 0.63 per cent, lower at 19,440, suggesting a negative start to trading on Dalal Street.
The equity benchmark indices Sensex and Nifty declined on Tuesday amid unabated foreign fund outflows and sluggish Asian market cues. The 30-share BSE Sensex declined 316.31 points, or 0.48 per cent, to settle at 65,512.10, while the Nifty fell 109.55 points, or 0.56 per cent to end at 19,528.75.
As the benchmark indices fell, ZeeBiz takes you through the list of stocks that can make an impression today.
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Maruti Suzuki: On Tuesday, the auto major received a draft assessment order from the Income Tax Department for FY 2019–20 amounting to Rs 2,159 crore.
In a separate development, the carmaker said its total production declined by 1 per cent to 1,74,978 units in September.
The company had produced 1,77,468 units in September 2022.
Last month, production of entry-level cars -- Alto and S-Presso -- declined by 70 per cent to 10,705 units from 35,887 units in the year-ago period, Maruti Suzuki India said in a regulatory filing.
Similarly, production of models like Baleno, Celerio, Dzire, Ignis, Swift and WagonR, declined to 90,849 units in September as against 92,717 units in the same month last year.
RVNL: The railway company announced on Tuesday that it had emerged as the lowest bidder (L1) for the development of distribution infrastructure in the North Zone of Himachal Pradesh under the revamped reform-based and results-linked distribution sector scheme.
The project size is Rs 444.26 crore.
Titagarh Rail Systems: Titagarh Rail Systems said on Tuesday that it had signed a contract for the design, manufacture, supply, testing, commissioning, and training of 72 standard gauge cars for the Surat Metro Rail Phase I Project.
The order value for this project is approximately Rs 857 crore.
The execution of the contract is slated to commence 76 weeks after signing the contract and is expected to be completed in 132 weeks thereafter, the company said in a statement.
The Surat Metro Rail Project encompasses two corridors spanning a total of 40.45 kilometres with 38 stations and an estimated cost of Rs 12,020 crore.
NBCC: The government construction company announced on Tuesday that it had signed a contract with its client, Ali Yavar Jung National Institute of Speech and Hearing Disabilities (Divyangjan), AYNISHD, Mumbai, to construct a permanent building of a newly approved composite regional centre at Chhatarpur, Madhya Pradesh. The project size is Rs 25.19 crore.
Raymond: Raymond said on Tuesday that it had approved an investment up to Rs. 301 crore in one or more tranches in Ten X Realty Limited (TXRL), a step down wholly-owned subsidiary of the company.
Out of the said investment, the company will invest up to Rs 125 crore in the form of redeemable preference shares, which would be subject to such terms as may be finally decided and agreed, Raymonds said in a statement on Tuesday.
The balance amount of Rs. 176 crore will be invested by providing an intercorporate deposit (ICD) to TXRL, the company further said.
Hero MotoCorp: Hero MotoCorp said on Tuesday that it was set to commence deliveries of its first co-developed premium motorcycle, the Harley-Davidson X440, on the first day of the Navratri festival, i.e., October 15, 2023.
The Harley-Davidson-Davidsoncurrently being manufactured at Hero MotoCorp’s manufacturing facility, called the Garden Factory, at Neemrana in Rajasthan.
The company has been organising test rides for pre-booked customers since September 1, 2023.
Pidilite: The company said on Tuesday that its wholly owned subsidiary, Corporacion Empresarial Grupo Puma SL, Spain (Grupo Puma, Spain), has incorporated a joint venture company in the UAE in the name of 'PidilitePuma MEA Chemicals L.L.C.' (‘PidilitePuma’) on October 2, 2023, to carry on the business of the manufacture of construction chemicals.
Each of Pidilite MEA and Grupo Puma, Spain, shall hold 50 per cent of the paid-up capital in PidilitePuma, the company said in a statement on Tuesday.
Apollo Tubes: APL Apollo Tubes Limited (APL Apollo) announced on Tuesday that its sales volume for Q2FY24 is 674,761 tonnes, the highest quarterly sales volume reported by the company ever.
The company's reported sales volume for the same period is 1,336,262 tonnes, an increase of 30 per cent YoY.
Cholamandalam Investment: The board will consider the qualified institutional placement (QIP) issue price.
Vedanta Q2 update: Total aluminum production was up 2 per cent to 5.94 Lk tonnes YoY. Zinc India mined metal production was down 1 per cent to 2.52 Lk tonnes YoY. Xinc International Mined Metal production was down 10 per cent to 66000 tonnes YoY. Pig Iron production was up 79 per cent to 2.17 Lk tonnes YoY. Steel Finished Production was up 17 per cent to 3.78 Lk Tonnes YoY. Copper cathode production was down 14 per cent to 36,000 tonnes YoY. Total Power sales was up 12 per cent to 404.8 crore unit YoY.
Bajaj Finance: Customer franchise stood at 76.56 MM against 62.91 MM, up 21.7 per cent YoY. The new loan book increased by 26% year on year to 8.53 million from 6.67 million. Assets under management (AUM) were recorded at 2.90 lakh crore against 2.18 lakh crore, up 33 per cent YoY.
Avenue Supermarts: Standalone income in Q2 was up 18.55 per cent from Rs 10,385 crore to Rs 12,308 crore YoY. The number of stores reached 336 as of September 30.
Bank of Maharashtra: The total turnover in Q2 was up 22.8 per cent to Rs 4.22 lakh crore YoY. The company logged total deposits of Rs 2.39 lakh crore, up 22.2 per cent YoY. Gross advances were up 23.6 per cent to Rs 1.83 lakh crore YoY.
South Indian Bank: Gross advances in Q2 were up 10.3 per cent to Rs 74,975 crore YoY. Total deposits grew 9.8 per cent to Rs 97,146 crore YoY. The current Account Savings Account (CASA) ratio decreased from 32.64 per cent to 32.08 per cent quarter-on-quarter (QoQ).
IDFC First Bank: The company launched QIP at a floor price of Rs 94.95 per equity share. The total size of QIP will be Rs 3,000 crore and the green shoe option will be Rs 1,000 crore. The issue price will be decided in the board meeting on October 6.
Heidelberg Cement: The company denied the reports about JSW Group's early talks to buy the cement business of Heidelberg Material.
Nestle: The board will consider a second interim dividend and share split with results at the board meeting on October 19.
Bajaj Finserv: The company's subsidiary, Bajaj Allianz General Insurance, gets show cause notice for a GST demand of Rs 1010 crore.
LIC: The company received a penalty demand notice from the IT department for AY12-13, AY18-19, and AY19-20. A total penalty notice of Rs 84 crore was received.
Navin Fluorine: Public shareholder Goldman Sachs Asset Management International sold 3.31 lakh shares, or 0.67 per cent, stake through the open market on September 29, 2023.