Stocks in the news: Check out the companies making the biggest headlines before the opening bell.
Bajaj Auto: Two-wheeler maker Bajaj Auto has said it will be issuing a price cut on its Dominar 250 in a bid for riding enthusiasts to enter the world of touring. It will now cost Rs 16,800 rupees lesser than its previous list price, the company said in a statement.
Tata Motors: The auto major issued an unexpected profit warning. Volumes at Jaguar Land Rover could come under a cloud for the rest of the current quarter due to supply shortages of semiconductors which has only become worse. Tata Motors has already lost 30,000 units in the June quarter only preceded by a loss of 7,000 units in the March quarter.
State Bank of India: The bank will auction two non-performing accounts (NPAs) next month to recover dues of over Rs 313 crore, according to a notice by the lender. The two accounts to be put up for e-auction on August 6 are Bhadreshwar Vidyut Pvt Ltd (BVPL) with a loan outstanding of Rs 262.73 crore and GOL Offshore Ltd with Rs 50.75 crore dues.
3i Infotech | Srei Multiple Asset Investment Trust sold 2.31 percent stake in the company via open market transactions reducing total shareholding to 11.32 percent from 13.63 percent earlier.
Dhani Services | BNP Paribas Arbitrage acquired 28 lakh equity shares in the company at Rs 174 per share on the NSE. However, Tamarind Capital Pte Ltd sold 69.85 lakh shares in the company at Rs 174.11 per share, the bulk deals data showed.
Mastek | Hiral Chandrana has been appointed as the Global Chief Executive Officer of Mastek Group. Chandrana will be operating out of USA.
Ramasigns Industries | CARE assigned B+/stable rating for the company’s proposed long term non-convertible debentures issue of Rs 7.2 crore.
Titan Company | The company recorded revenue growth of around 117 percent (excluding bullion sales) in Q1FY22, with revenue contribution of approximately 50 percent, 10 percent and 40 percent coming from April, May and June months, respectively. Jewellery division in Q1FY22 grew by around 107 percent (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. Watches and wearables division grew by around 280 percent over Q1FY21. Eye Wear division grew by around 117 percent over Q1FY21.
Genesys International Corporation | The company approved issuance of up to 15 lakh, 11 percent unsecured compulsorily convertible debentures (CCDs) to Florintree Innovation LLP on a preferential basis, and 7.5 lakh warrants to Elizabeth Mathew on a preferential basis at a price of Rs 122 per warrant (convertible to equity). (Image: igenesys.com)
Rane Holdings | The company has acquired another 1,28,524 equity shares representing 7.71 percent equity shareholding in subsidiary Rane t4u (RT4U), for Rs 7,45,439 at Rs 5.80 per share from existing shareholders/other promoters of RT4U. The aggregate equity shareholding of the company in RT4U stands at 84.52 percent.
Gillette India | The company appointed Gautam Kamath as Chief Financial Officer and Additional (Executive) Director effective August 1.
Sobha | The company achieved total sales volume of 8,95,539 square feet of super built-up area valued at Rs 682.9 crore in Q1FY22 against 6,50,400 square feet of super built-up area valued at Rs 487.7 crore sold in Q1FY21.
RBL Bank | The bank’s total deposits grew by 21 percent YoY to 74,480 crore and gross advances increased by 2 percent to Rs 58,755 crore in June 2021 quarter.
Kotak Mahindra Bank | Subsidiary Kotak Securities entered into an agreement with Kredent InfoEdge Private Limited (KIPL), for investment of Rs 10 crore for a 9.96 percent in the total share capital of KIPL.
TVS Motor Company | The company launched tech-loaded, powerful TVS NTORQ 125 Race XP.
Tanla Platforms | Subsidiary Karix Mobile announced the deployment of a conversational solution for Panasonic India using the WhatsApp Business Solution Platform. The solution will facilitate one-to-one conversations between Panasonic’s customers and the brand.
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