Stocks to Watch: Check out the companies making headlines before the opening bell
Tata Consultancy Services: Tata Consultancy Services will be in focus ahead of September quarter earnings.
Tata Motors: JLR reports 11.8% increase in sales for Q2FY23, but volume drops 23% in 1HFY23. Jaguar Land Rover sold 88,121 vehicles in the quarter ended September, up 11.8% over previous quarter but down 4.9% from year-ago period. Compared to the first quarter, retail sales were higher in China (up 38%), North America (up 27%) and overseas (up 14%) but lower in the UK (down 7%) and Europe (down 10%). In the first half of FY23, the company clocked 23.2% year on year decline in sales volume at 1.66 lakh vehicles. Its total order book in Q2FY23 grew by 5,000 vehicles to 2.05 lakh vehicles compared to the previous quarter.
Star Health and Allied Insurance Company: Star Health reports 12% YoY growth in gross direct premium for Q2FY23. The company clocked (provisional) gross direct premium of Rs 5,655.1 crore for the quarter ended September, 12% growth over a year-ago period, with health-retail segment registering 21% YoY growth to Rs 4,306.4 crore.
Navkar Corporation: Navkar Corporation sells movable assets worth Rs 174 crore to Adani Logistics. The company has approved the transfer of movable assets including trailers and dwarf containers to Adani Logistics. The transaction cost is Rs 173.97 crore. The company will utilise the proceeds for further expansion of business and purchase of new trailers for its new project inland container depot at Morbi.
IDBI Bank: Government invites expressions of interest for stake sale in IDBI Bank. The government of India has engaged KPMG India as the transaction advisor and Link Legal as the legal advisor for providing advisory services and managing the transaction of stake sale in IDBI Bank. The government and LIC of India intend to sell a little more than 30% stake each in IDBI Bank. The government holds 45.48% and LIC 49.24% of the bank. The government has invited expressions of interest from bidders.
PNC Infratech: PNC Infratech submits financing documents for two hybrid annuity projects to NHAI. The company has submitted duly executed financing documents for two hybrid annuity mode projects (Kanpur- Lucknow Expressway package I & II) to NHAI. Both projects or special purpose vehicles are owned by its subsidiaries Kanpur Lucknow Expressway and Awadh Expressway. The company has requested NHAI for confirmation of the financial closures for both projects.
Gujarat Mineral Development Corporation: GMDC undertakes critical geological studies in and around Ambaji mining lease in Gujarat. The mining PSU enterprise has commenced geological studies and on-ground design for mineral exploration programmes over 1400Ha area in and around Ambaji mining lease in North-Eastern Gujarat. The Ambaji site is expected to have a significant polymetallic deposit with trace amounts of precious metals.
Sundaram Clayton: Sundaram Clayton offloads 9.5% stake in TVS Training and Services. The company has sold 8.56 lakh shares in TVS Training and Services, an associate company. With this, its shareholding in the associate company has reduced from 30.53% to 21.07%. These shares were sold for Rs 1.24 crore. It was a related party transaction as Dr Malini Srinivasan is a relative of a director.
Nureca: Nureca arm receives ISO certification for nebulizers and blood pressure monitors. Subsidiary Nureca Technology has received ISO certification from Intertek for nebulizers and blood pressure monitors. The company believes this certification will open new avenues for its flagship brand Dr Trust, enabling it to export these devices to many more countries.
Power Grid Corporation of India: Power Grid Corporation of India arm successfully commissions transmission system in Madhya Pradesh. Subsidiary POWERGRID Bhind Guna Transmission has successfully commissioned the transmission system in Madhya Pradesh. The subsidiary had secured a project to establish transmission system for intra-state transmission work associated with construction of 400kV substation near Guna & 220kV substation near Bhind on build, own, operate and maintain (BOOM) basis.
Artson Engineering: Artson Engineering receives order worth Rs 42.76 crore from Adani Enterprises arm. The company has received an order worth Rs 42.76 crore for manufacturing of gas to gas heat exchangers from Kutch Copper, subsidiary of Adani Enterprises. The order is going to be executed within 11 months.
PNB Housing Finance: PNB Housing Finance appoints Vinay Gupta as CFO. The housing finance company has appointed Vinay Gupta as Chief Financial Officer and key managerial personnel. Vinay Gupta’s appointment as CFO will be effective from October 26.
Suzlon Energy: Suzlon Energy gets board approval for appointment of Vinod R Tanti as CMD. The board has given approval for appointment of Vinod R Tanti as the Chairman & Managing Director of the company with immediate effect for a period of three years up to October 6, 2025. The board also appointed Girish R Tanti, an executive director, as the Executive Vice Chairman.
NPR Finance: NPR Finance to sell Sangli wind turbine generator plant for Rs 1.40 crore. The company has entered into an agreement for sale of its wind turbine at Sangli in Maharashtra. Transaction cost is Rs 1.4 crore.
Moneycontrol News
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