Stocks to watch out for on October 25
Stocks to watch: Shares of firms like Axis Bank, Tech M, Vedanta, Delta Corp, ONGC, Torrent Pharma, and others will be in focus on Wednesday’s trade.
Stocks to Watch on October 25: GIFT Nifty on the NSE IX traded 16 points, or 0.08 per cent, lower at 19,308, signaling that Dalal Street was headed for negative start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
Q2FY24 results today: Axis Bank, Tech Mahindra, Indus Towers, Jubilant Foodworks, Sona BLW Precision Forgings, Sonata Software, Lakshmi Machine Works, Welspun India, Chalet Hotels, Chennai Petroleum Corp, Responsive Industries, CMS Info Systems, Share India Securities, Rallis India, Shanthi Gears, Bannari Amman Sugars, Gulf Oil Lubricants India, Swaraj Engines, TV18 Broadcast, Network18 Media & Investments.
Kfin Technologies: The company will not proceed with the buyback if redeemable preference shares until further notice as the Office of the Joint Director, Enforcement Directorate, Hyderabad Zonal Office has issued notice to Adhiraj Parthasarathy, wherein the ED has provisionally attached the RPSs.
Delta Corp: The Bombay High Court has directed the Directorate General of GST Intelligence, Hyderabad, to not pass a final orders on Rs 16,195-crore tax notice against Delta Corp without prior permission from the court.
Vedanta: Ajay Goel, the former chief financial officer (CFO) at Indian edtech startup Byju’s, will return as Vedanta’s CFO effective October 30 after Sonal Shrivastava tendered resignation.
Torrent Pharma: Torrent Pharma has reported net profit of Rs 386 crore in the second quarter. Revenue from operations came in at Rs 2,660 crore.
JSW Steel: It plans to establish a green steel manufacturing facility by 2030 as part of its response to the European Union’s (EU’s) Carbon Border Adjustment Mechanism (CBAM).
Power Mech Projects: The Fund Raising Committee has approved the issue and allotment of 9,01,789 equity shares, worth Rs 350 crore, to 17 qualified institutional buyers. PNB Housing Finance: Its net profit for Q2FY24 increased 45.9 per cent year-on-year (YoY) to Rs 383 crore, while revenue from operations grew 5.5 per cent YoY to Rs 1,777.8 crore.
ONGC: Oil and Natural Gas Corporation has won a bid to acquire PTC India Ltd’s wind power unit for Rs 925 crore.
Siemens: Siemens India has filed a writ petition before the Bombay High Court, contesting the showcause notice for Goods and Services Tax (GST) worth Rs 245.9 crore.
Tech Mahindra: Tech Mahindra Americas Inc., a wholly-owned subsidiary of Tech Mahindra, has approved the divestment of 30 per cent stake in Avion Networks Inc for a consideration amount worth $50,000 (approximately Rs 41 lakh).
Lupin: Received approval from the USFDA for its abbreviated new drug application for Fluconazole Tablets, USP.
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