Stocks to Watch in Today’s Trading Session
As investors gear up for today’s trading session, several stocks are drawing attention due to recent developments and performance updates. This article provides a closer look at these key players and their current status in the market.
Tata Motors
Tata Motors’ luxury car segment, Jaguar Land Rover (JLR), has reported a decline in retail sales for the second quarter of FY25, with figures hitting 103,108 units, a three percent drop year-on-year. In contrast, the first half of the fiscal year showed a modest recovery, with an increase of three percent in retail sales totaling 214,288 units. Production constraints were noted in Q2, dropping to 86,000 units due to disruptions in aluminium supply experienced in Q1. Regionally, retail sales exhibited contrasting trends: the UK saw a notable 29 percent surge, while Europe experienced a significant decline of 22 percent and China faced a 17 percent drop.
Nykaa
Nykaa has demonstrated robust consolidated net revenue growth in the mid-twenties for the quarter ending September 2024. However, demand in its fashion segment has been sluggish during the first half of FY25. Analysts suggest a potential recovery in the latter half of the year, fueled by the upcoming festive season and increased wedding activities, which are historically peak shopping periods for the company.
Ola Electric
Ola Electric is currently under scrutiny after the Central Consumer Protection Authority issued a show cause notice in response to a rising number of consumer complaints regarding their services. Allegations cited include unfair trade practices and misleading advertisements. In light of increasing public dissatisfaction, the company has 15 days to address these issues, underscoring the importance of maintaining service quality in a competitive market.
Hero Motors
In a recent move, Hero Motors withdrew its draft red herring prospectus as of October 5, as announced by the Securities and Exchange Board of India (SEBI). The company had aimed for a public issue worth ₹900 crore, comprising a fresh equity share issuance of ₹500 crore and an offer-for-sale (OFS) worth ₹400 crore. Notably, stakeholders OP Munjal Holdings, Bhagyoday Investments, and Hero Cycles were set to sell portions of their stakes through this offering.
Axis Bank
Axis Bank has successfully acquired a $500 million loan from the International Finance Corporation (IFC), marking a significant step in enhancing financing for green projects in India. This partnership is notable, as it is the first blue investment in India by the IFC and the first blue loan facilitated by a financial institution in the country, representing a commitment to sustainable development.
Pfizer
In a significant legal victory, Pfizer has invalidated two patents held by GSK in a London court concerning a vaccine for respiratory syncytial virus (RSV). As both pharmaceutical companies strive for a competitive edge in the RSV vaccine market, this ruling is pivotal for future developments. GSK has maintained, however, that this decision will not hinder its plans to launch its RSV vaccine, Arexvy, on a global scale.
Hi-Tech Pipes
The board of Hi-Tech Pipes has announced its approval for a Qualified Institutional Placement (QIP), with a floor price set at ₹194.98 per equity share. The company aims to raise ₹600 crore through this offering, with the potential to offer a discount of up to five percent off the floor price. As India’s third-largest pipe manufacturer, Hi-Tech Pipes plans to leverage these funds to strengthen its market position and expand production capacity.
HDFC Bank
HDFC Bank has disclosed plans to divest its entire 100 percent stake in HDFC Education, selling it to Vama Sundari Investments for ₹192 crore in an all-cash transaction. The share price for this deal is set at ₹9.60 per share. The bank expects to complete 91 percent of this divestment by October 31, 2024, transitioning its subsidiary out of its portfolio by June 30, 2025.
Kalyan Jewellers
Kalyan Jewellers reported an impressive 39 percent growth in revenue within India for the second quarter of FY25. This surge can be attributed to heightened foot traffic and a notable 23 percent increase in same-store sales. The recent reduction in customs duties on gold imports has further bolstered sales, positioning Kalyan Jewellers for a strong expansion of its showroom presence as the festive season approaches.
Upcoming Earnings Reports
Investors should also be on the lookout for quarterly earnings releases from several companies including Navkar Corporation, Transformers and Rectifiers India, VL E-Governance & IT Solutions, Darshan Orna, Emerald Finance, Hawa Engineers, and Integra Switchgear, all set to announce results on October 8. The outcomes of these reports could significantly influence market sentiment and stock movements.
