Stocks to Watch: TCS, Tata Motors, IDBI Bank, SpiceJet, Adani Enterprises | Mint – Mint

Here are the top stocks that could be in focus in today’s trade:
TCS: A nearly six-month-long probe into the bribes-for-jobs scandal at Tata Consultancy Services Ltd has resulted in crucial suggestions for hiring reforms, along with the sacking of the former head of its resource management group. On Sunday night, TCS disclosed to the exchanges that it had sacked 16 employees and blacklisted six staffing firms. E.S. Chakravarthy, the former head of TCS’s resource management group has now been sacked by the company, according to an executive privy to the development.
Tata Motors: Tata Motors Ltd sold a 9.9% stake in Tata Technologies Ltd for 1,613.7 crore to the Ratan Tata Endowment Foundation and TPG Rise Climate SF Pte. Ltd, a climate investment fund of TPG Global. The transaction, which values the IPO-bound Tata Technologies at around $2 billion, is in line with Tata Motors’ deleveraging strategy, according to a company release. Tata Motors sold 9% to TPG Rise Climate for 1,467 crore and 0.9% to the Ratan Tata Endowment Foundation for 146.7 crore.
IDBI Bank: The prospective asset valuers of IDBI Bank were informed by the government on 15 October that the lender has deferred tax assets of 11,520 crore and 120 properties in the top seven cities including Mumbai, Pune, and Chennai. The DIPAM said, in response to the pre-bid queries from prospective asset valuers of IDBI Bank, that the bank has as many as 68 properties in Mumbai, 20 in Pune, nine in Chennai and seven in Ahmedabad. Besides, it has six properties in Kolkata and five each in Delhi and Hyderabad.
SpiceJet: The reports of IndiGo co-founder Rakesh Gangwal looking to buy a stake in rival airline SpiceJet led to the latter’s shares surging by 20% on the stock market on October 13. A day later, reports citing a banker close to Gangwal said there is no such plan under consideration. With official statements being awaited from IndiGo, SpiceJet and Gangwal, investors and market observers are left confused by the emergence of conflicting news reports.
Adani Enterprises: Adani Enterprises on Friday informed the stock exchanges that the corporate affairs ministry is probing the accounts of the group’s two airports in Mumbai. The company said that the Office of the Regional Director, Southeast Region, Hyderabad, Ministry of Corporate Affairs had sought information and documents on the airports – Mumbai International Airport Ltd and Navi Mumbai International Airport Ltd – for financial years 2017-18 to 2021-22.
Ashok Leyland: Hinduja Group flagship company Ashok Leyland has secured an order from Tamil Nadu State Undertakings for the supply of 1,666 new buses, the city-based company said on Friday. This is the single largest BSVI order received from State Transport Undertakings and would further contribute to the company’s dominant position in the bus industry. Ashok Leyland said it had been the most preferred brand by Tamil Nadu State Transport Undertakings with more than 18,000 buses, comprising 90% of the total fleet.
IOCL/NTPC: Indian Oil Corporation (IOC) has said that the company will invest 1,660.15 crore as equity in IndianOil NTPC Green Energy Pvt Ltd —a newly set up joint venture with energy NTPC Ltd—for setting up renewable power plants. In June, Indian Oil and NTPC Green Energy Ltd, (a wholly-owned subsidiary of NTPC Ltd) formed a 50:50 joint venture company, IndianOil NTPC Green Energy Pvt Ltd, to set up renewable energy projects to meet 24X7 power requirements of refineries of the IOC.
Delta Corp: Delta Corp has received fresh notices of alleged shortfall in the payment of GST to the tune of 6,384 crore, as per a regulatory filing made by the casino chain operator on October 14. This comes nearly three weeks after Delta Corp received tax shortfall notices amounting to 16,822 crore. The latest notices were received by Deltatech Gaming Ltd, a subsidiary of the company, from the Directorate General of GST Intelligence, Kolkata on October 13, the company stated.
Avenue Supermart: Avenue Supermart Ltd has declared its July to September 2023 quarterly numbers today. As per the exchange filing, the company has logged an 18.50 per cent jump in total revenue on a year-on-year basis. The company’s  EBITDA margin stood at 8.1% in Q2FY24 as compared to 8.6% in Q2FY23. Avenue Supermarts Limited said Q2 FY 2024 saw revenue growth of 18.5% as compared to the corresponding quarter of last year.
Finolex Cables: The National Company Law Appellant Tribunal (NCLAT) on Friday directed Finolex Cables to disclose shareholder voting outcomes related to the reappointment of the executive chairman in the meeting held on 29 September. The directive is based on an earlier order of the Supreme Court regarding the issue. The tribunal has also allowed the current chief executive officer of Finolex Cables to continue in the post until the case is finally decided upon by the NCLAT.
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