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The domestic equity market closed lower on Friday. Sensex slipped 125 points to end the session at 66,282 and Nifty lost 43 points to settle at 19,751.
Here’s a look at stocks that are likely to remain in news today.
Tata Motors
Tata Motors has inked share purchase agreements to offload 9.9% stake in IPO-bound Tata Technologies Ltd (TTL) for Rs 1,613.7 crore to private equity fund TPG Rise Climate SF and an endowment trust belonging to Tata Trusts Chairman Ratan Tata. TPG Rise Climate is the lead investor for this transaction, which ascribes an equity valuation of Rs 16,300 crore for TTL.
Delta Corp
Casino and gaming firm Delta Corp has received another notice from the GST department to pay up an additional Rs 6,385 crore as the tax shortfall due from its subsidiary company Deltatech Gaming.
“The GST notice advises Deltatech Gaming Limited to pay the alleged tax shortfall along with interest and penalty failing which a show cause notice will be issued to the Company under Section 74(1) of the CGST Act, 2017,” the company said in a filing with the stock exchange.
Avenue Supermarts
The retail chain operator logged a 9.2 percent fall in consolidated profit at Rs 623 crore for quarter ended September FY24, impacted by lower margin and high base. In Q2FY23, the profit was supported by lower tax cost. Revenue from operations climbed 18.67 percent year-on-year to Rs 12,624 crore.
Adani Enterprises
The Ministry of Corporate Affairs, Hyderabad, has initiated investigation of books of accounts and other books and papers of Mumbai International Airport (MIAL) and Navi Mumbai International Airport (NMIAL), step-down subsidiaries of Adani Enterprises. Ministry of Corporate Affairs has asked for data and documents pertaining to the prior period starting from 2017-18 to 2021-22. Adani Enterprises completed acquisitions of MIAL and NMIAL during the year financial year 2021-22.
Bajaj Electricals
The company has received a supply of services contract worth Rs 564.2 crore from Power Grid Corporation of India for and on behalf of its SPV (special purpose vehicle) Ananthpuram Kurnool Transmission.
Mahindra & Mahindra: The utility and commercial vehicle maker said total production for Septembe grew 21.9 percent to 79,410 units over the year-ago period. Sales climbed 18.1 percent YoY to 73,185 units, but exports fell 4.7 percent to 2,419 units in the same period.
Godrej Properties
The firm’s subsidiary Godrej Redevelopers (Mumbai) Private Limited (GRMPL) has received an order from the Additional Commissioner, CGST and Central Excise, Navi Mumbai, for a GST demand of Rs 48.31 crore along with interest and a penalty of Rs 48.31 crore under the Central Goods and Services Tax Act. They alleged non-payment of GST in relation to one of the projects developed by GRMPL in Mumbai.
Mankind Pharma
The manufacturing facility of the pharma company in Sikkim has restarted operations as usual with effect from October 13. Operations at the manufacturing unit were disrupted due to a disturbance in power supply because of flash floods.
NBCC (India)
The construction firm has received a work order worth Rs 80 crore from the Visakhapatnam Port Authority. The work order includes the renovation and refurbishment of an office building at Visakhapatnam Port Authority.
Dalmia Bharat
The cement maker reported a 121.4% rise in profit at Rs 124 crore for the quarter ended September FY24 over year-ago period, led by healthy operating numbers with a decline in power & fuel expenses. Revenue from operations in Q2 rose 6 percent year-on-year to Rs 3,149 crore.
Mahindra & Mahindra
The utility and commercial vehicle maker said total production for Septembe grew 21.9 percent to 79,410 units over the year-ago period. Sales climbed 18.1 percent YoY to 73,185 units, but exports fell 4.7 percent to 2,419 units in the same period.
Tata Steel Long Products
The Tata Group company’s net loss for the quarter ended September reduced to Rs 135.8 crore from Rs 333.4 crore in year-ago period despite lower topline, aided by lower input cost. Revenue from operations declined 9.4 percent YoY to Rs 1,734 crore during the quarter.
Indian Oil
Indian Oil Corporation, the nation’s biggest oil firm, will invest Rs 1,660.15 crore as equity in a newly set up joint venture with energy major NTPC Ltd for setting up renewable power plants.
Earnings today
Jio Financial Services, Federal Bank, Indbank Merchant Banking Services, ICICI Securities, Yatra Online, etc will announce their September quarter earnings.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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