Indian benchmark indices staged a smart recovery on Tuesday, following a six session carnage, ahead of RBI's monetary policy and Q2 earnings are key major factors to watch out for. BSE Sensex jumped 584.81 points or 0.72 per cent, to end at 81,634.81. NSE's Nifty50 surged 217.40 points, or 0.88 per cent, to close at 25,013.15. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, October 09, 2024:
Q2 results today: Companies including Lotus Chocolate Company, GTPL Hathway, Western Carriers (India) and Rhetan TMT will announce their September 2024 quarter results later today.
Corporate actions today: Shares of Jindal Saw will trade ex-split in 1:1 ratio, while shares of Moxsh Overseas Educon will trade ex-bonus in 3:1 ratio today. Shares of Shraddha Prime Projects will trade ex-dividend in today's session.
Infosys: The IT major has announced a collaboration with Nasdaq-listed Old National Bank for strategic expansion. Old National will leverage Infosys' services, solutions, and platforms for operations transformation and process digitization powered by automation and generative AI (GenAI).
Dr Reddy’s Laboratories: The pharma major's subsidiary, Aurigene Oncology, has announced the Phase 1 results for Ribrecabtagene autoleucel (DRL-1801) from the SWASTH study. The Drugs Controller General of India has approved the commencement of the Phase 2 part of the trial.
Bharti Airtel: The telecom operator issued a clarification after media reports suggested that the company may buy Tata Play from the Tata Group. The company stated that it regularly evaluates various opportunities for alliances, acquisitions, and other similar avenues as per its requirements, in the ordinary course of business.
Torrent Power: The Torrent Group company has received a letter of award from Maharashtra State Electricity Distribution Company (MSEDCL) for the long-term supply of 2,000 megawatts (MW) energy storage capacity from its InSTS-connected pumped hydro storage plant.
PB Fintech: The Insurance Regulatory and Development Authority of India (IRDAI) conducted an inspection of Policybazaar Insurance Web Aggregator (now Policybazaar Insurance Brokers, a wholly-owned subsidiary of PB Fintech) from June 1 to June 5, 2020. Following the inspection, the regulator issued a show-cause notice highlighting several observations about the subsidiary.
Nuvama Wealth Management: The capital market's regulator Sebi has issued an administrative warning following an inspection of the company's merchant banking activities. Nuvama Wealth stated that there is no material impact on the financials, operations, or other activities of the company.
IRB Infrastructure Developers: The civil construction and its infrastructure trust reported a collective toll revenue growth of 19.2 per cent YoY in September, generating Rs 501.8 crore compared to Rs 421 crore in the same month last year.
SKF India: The bearing company's board has given its in-principle approval to segregate its automotive and industrial businesses through a scheme of arrangement. The company also approved the immediate incorporation of a wholly-owned subsidiary for the proposed demerger.
Premier Energies: The recent debutant's subsidiary, Premier Energies International, has entered into a module supply agreement (MSA) with BN Hybrid Power-1 for the supply of 173.35 MWp of solar modules featuring the latest Topcon technology. These modules will be used for the 300 MW FDRE (wind, solar, and energy storage) Power Project in Barmer, Rajasthan.
Indian Railway Finance Corporation: The railway player's board has approved financing up to Rs 700 crore under the finance lease for 20 BOBR rakes procured under the General-Purpose Wagon Investment Scheme (GPWIS) of the Ministry of Railways for NTPC.
JSW Infrastructure: Arun Maheshwari has stepped down from his role as Joint Managing Director and Chief Executive Officer of the company, as well as Joint Managing Director of South West Port (a subsidiary of JSW Infra), effective November 7, 2024. He will be taking on a new role within the JSW group.
Timken India: The abrasives & bearings company has received an order from the Income Tax Department demanding Rs 25 crore for the Assessment Year 2021-22. Since income was calculated (by the Income Tax department) on the higher side by Rs 100.3 crore, the company may have to pay additional tax of around Rs 25 crore plus interest, as stated by the department.
Schneider Electric Infrastructure: The Office of the Joint Commissioner of Commercial Taxes, Bengaluru (Appellate Authority), has rejected the appeal petition filed by the company for the financial year 2017-18 and upheld the earlier impugned adjudication order. Accordingly, the Appellate Authority has demanded the disputed amount of Rs 2.21 crore, including interest and penalty.
Namo eWaste Management: The SME firm has acquired 2 acres of land in the Electronic Manufacturing Cluster in Ranga Reddy district, Telangana, from the Telangana State Industrial Infrastructure Corporation, for Rs 3 crore. The land will be utilized for setting up an e-waste recycling plant in Telangana.