Stocks to Watch: Check out the companies making headlines before the opening bell
Results on October 12: Wipro, HCL Technologies to be in focus ahead of quarterly earnings. Wipro, HCL Technologies, Sterling and Wilson Renewable Energy, 7NR Retail, Artson Engineering, Mangalam Industrial Finance, Mega Nirman and Industries, National Standard (India), Nxtdigital, Sanathnagar Enterprises, Standard Capital Markets, and Yash Chemex will announce their quarterly earnings today.
IndusInd Bank: Goldman Sachs Investment (Mauritius) has acquired 69,66,712 equity shares in the bank through open market transactions at an average price of Rs 1,167.53 per share. However, Route One Fund I LP sold 1.2 crore shares at an average price of Rs 1,168.26 per share.
Suzlon Energy: The company has received the order for development of 144.9 MW wind power projects for Aditya Birla Group. It will install 69 units of wind turbine generators with a hybrid lattice tubular (HLT) tower and a rated capacity of 2.1 MW each. The project is expected to be commissioned in 2023.
L&T Finance Holdings: The company has received approval from Sebi for sale of 100% shareholding in subsidiary L&T Investment Management to HSBC Asset Management (India). With this approval, all necessary actions are being taken to ensure completion of the proposed transaction, said the company.
Infosys: The stock will be in focus as Ravi Kumar S has resigned as president effective October 11. Ravi Kumar led the Infosys global services organization across all industry segments.
Delta Corp: The casino operator has clocked 19.5% sequential growth in consolidated profit at Rs 68.25 crore for the quarter ended September FY23 and revenue during the same period increased by 8% to Rs 270 crore. The business is very resilient and has bounced back much stronger. The company has surpassed pre-Covid set of numbers and have registered strong growth.
Fino Payments Bank: PaySprint has finalised allotment of its 867 equity shares (7.98% stake) to Fino Payments Bank at a premium of Rs 28,801 per share on a face value of Rs 10 per share. The total investment is Rs 2.49 crore.
REC: The state-owned Navratna company has transferred its entire shareholding in ER-NER Transmission at par value along with all its assets and liabilities to Power Grid Corporation of India. Power Grid is the successful bidder selected through tariff based competitive bidding process, for development of ‘transmission system for evacuation of power from ER-NER SEZ. Its subsidiary REC Power Development & Consultancy, the owner of ER-NER Transmission, has received the amount for stake transfer, comprising of professional fees of bid process coordination, interest cost and reimbursement of expenditure incurred on the project.
Motilal Oswal Financial Services: PPFAS Mutual Fund has bought 5 lakh equity shares in the company via open market transactions at an average price of Rs 703 per share. However, John Hancock Funds II International Value Fund was the seller for those shares at same price.
VST Tillers Tractors: First Sentier Investors ICVC-SI Asia Pacific Sustainability Fund sold 1,62,707 shares in the company at an average price of Rs 2,120.02 per share.
Genesys International Corporation: The company has received order worth Rs 46 crore for land titling project from Andhra Pradesh government. The project is planned to be finished by the end of FY23.
Commercial Syn Bags: The company said the board of directors on October 22 will consider the proposal for issuance of bonus shares. The board will also consider the increase in authorised share capital of the company.
Moneycontrol News
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