Stocks to watch: Shares of firms like Nestle, Adani Ent, Maruti Suzuki, Bajaj Finserv, DMart, and others will be in focus on Wednesday’s trade.
Stocks To Watch on October 4: GIFT Nifty on the NSE IX traded 4.5 points, or 0.02 per cent, lower at 19,446, signaling that Dalal Street was headed for a muted start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
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Nestle India: Nestle India’s Board will consider the proposal for a stock split and interim dividend on October 19 along with the quarterly earnings for the September quarter.
Adani Enterprises: Abu Dhabi-based International Holding Co (IHC) on October 3 said its holding in Adani Enterprises, the flagship firm owned by billionaire Gautam Adani, has increased to more than five percent. The development comes days after the Middle-East-based investor decided to offload stakes in two other group companies as part of its portfolio rejig.
Maruti Suzuki: The country’s largest carmaker said it has received a draft assessment order for the financial year 2019-20 from the Income Tax Department. This assessment order outlines certain additions and disallowances totalling Rs 2,159.7 crore concerning the company’s returned income, which reflects the income disclosed by the company in its income tax return for that fiscal year.
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Bajaj Finserv: The financial services firm said its subsidiary Bajaj Allianz General Insurance has received a show cause cum demand notice from the Directorate General of GST Intelligence, Pune zonal unit. The agency issued a show cause cum demand notice on September 29, 2023, citing a tax demand of Rs 1,010 crore.
Mahindra Finance: Mahindra Group’s non-banking financial firm said it disbursed Rs 4,500 crore in September, recording an 11 percent year-on-year growth. The disbursements in the second quarter of the current fiscal came in at Rs 13,300 crore, translating to a 12.6 percent YoY growth.
Strides Pharma: Drug firm on Tuesday said the company’s step-down wholly-owned subsidiary, Strides Pharma Global Pte Ltd, received approval from the United States Food and Drug Administration (USFDA) for its icosapent ethyl capsules in both 0.5 gram and 1 gram variants. Icosapent ethyl capsules are used to treat high triglyceride levels.
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Titagarh Rail Systems: The company on Tuesday said the company has secured a contract with the Gujarat Metro Rail Corporation Ltd (GMRC) to manufacture 72 standard gauge cars. These metro cars are destined for the first phase of the Surat Metro Rail Project. The estimated order value for this project stands at approximately Rs 857 crore.
Hero MotoCorp: Homegrown motorcycles and scooters manufacturer has announced the commencement of deliveries of its first co-developed premium motorcycle, the Harley-Davidson X440, from October 15, 2023. The Harley-Davidson X440, a joint venture between Harley and Hero, is currently being produced at Hero MotoCorp’s Garden factory in Neemrana, Rajasthan.
Avenue Supermarts: Retail chain D-Mart operator said the company posted a growth of 18.52 percent in its standalone revenue on a year-on-year basis. For the quarter ending on September 30, 2023, Avenue Supermarts reported standalone revenue from operations totalling Rs 12,307.72 crore compared to Rs 10,384.66 crore on a year-on-year basis.
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