Stocks To Watch On September 20: Domestic markets ended almost unchanged in a volatile expiry session, continuing the recent trend. In today’s trade, shares of Reliance Infra, VST Industries, IDFC First Bank, NTPC, Vodafone Idea among others will be in focus due to various news developments.
HDFC Bank: The bank plans to sell loans worth over Rs 90 billion in its largest transaction to date by the end of September. The sale involves pass-through certificates backed by car loans.
IIFL Finance: The company announced that the RBI has lifted restrictions on its gold loan operations. The company can now resume its lending activities after addressing previous regulatory concerns regarding loan processes.
Nykaa: The company has increased its same and next-day delivery capabilities to 110 cities, with 60 per cent of the orders fulfilled within one day. The company has significantly expanded its warehouse network, enhancing efficiency and reducing delivery times.
Macrotech Developers: The company acquired shares in three warehousing companies for Rs 239.56 crore, increasing its stake and rental income potential. This strategic move aligns with the company’s growth in the real estate sector.
Hero MotoCorp: The company is set to launch e-scooters under its Vida brand in the UK, France, and Spain by mid-2025. This marks its entry into developed markets amid growing demand for electric vehicles, coinciding with ongoing India-UK trade agreement discussions.
Shapoorji Pallonji Group stocks (Sterling and Wilson Renewable Energy, Eureka Forbes, Vascon Engineers, Forbes & Company, Gokak Textiles): The Shapoorji Pallonji group is expected to secure over Rs 2,100 crore from a consortium of global investors led by Deutsche Bank. This comes as the group prepares for upcoming repayments and an IPO for Afcons Infrastructure.
SJVN: The company reported generating 8,489 million units of green energy in the 2023-24 fiscal year from hydro, solar and wind power. Notable achievements include record daily and monthly generation rates. The company also reported a standalone revenue of Rs 2,533.59 crore and a profit after tax of Rs 908.40 crore.
Infosys: The company has extended its partnership with Posti, a leading logistics provider in Finland, Sweden, and the Baltics. The collaboration aims to enhance customer experience and operational efficiency using Infosys’s AI-driven approach, powered by Topaz. Over five years, Infosys has modernized Posti’s IT systems and improved resilience against cyber threats.
TCS: Tata Consultancy Services remains India’s most valuable brand with a valuation of $49.7 billion, marking a 16 per cent increase from last year. The Kantar BrandZ report highlights the importance of brand consistency and relevance across consumer touchpoints, noting Zomato as the fastest-growing brand.
IDFC First Bank: The RBI has approved the re-appointment of V. Vaidyanathan as Managing Director and CEO of IDFC First Bank, effective December 19, 2024. Vaidyanathan has been instrumental since the bank’s merger with Capital First in 2018.
Reliance Infrastructure: The company’s board has approved a preferential issue to raise Rs 3,014 crore by issuing equity shares to promote investor participation and support its expansion plans. The company aims to utilise the funds for business growth and working capital.
MSTC: The government has approved the sale of Ferro Scrap Nigam Ltd, a wholly-owned subsidiary of MSTC, to Japan’s Konoike Transport Co. for Rs 320 crore, surpassing the reserve price. Konoike specialises in steel services and recycling, indicating a strategic move in India’s steel sector.
SpiceJet: The company’s $358 million share sale drew interest from major investors, including Tata Mutual Fund, Authum Investment and Think Investments besides a slew of other institutional investors. The placement was reportedly oversubscribed.
Telco stocks: The Supreme Court has dismissed curative petitions from telecom firms regarding adjusted gross revenues (AGR), which includes non-telecom revenue. This decision reaffirms the financial liabilities facing telecom companies, particularly amid ongoing struggles for cash-strapped operators like Vodafone.
NTPC: The Board of NTPC approved an investment of Rs 9,701 crore in Sipat Super Thermal Power Project, Stage-III (1×800 MW).
SBI: SBI has subscribed the $50 million government Treasury Bills issued by Maldives Government for one more year.
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