Stocks To Watch: PNB, Tata Motors, Adani Ent, HUL, Zomato, REC, NLC India, And Others

Stocks To Watch On September 30: The markets traded flat on Friday, showing little movement despite favorable global cues. In today’s trade, shares of BEL, L&T, PNB, Nuvama Wealth, IDFC, IndusInd Bank among others will be in focus due to various news developments

Tata Motors: Tata Motors held a groundbreaking ceremony of its new production facility to manufacture cars and SUVs at Panapakkam in Tamil Nadu. This manufacturing facility will produce next-gen vehicles for Tata Motors and JLR.

Nuvama Wealth: Nuvama Wealth Management witnessed a series of block deals on Friday where Morgan Stanley, Goldman Sachs and Smallcap World Fund Inc bought shares at a combined cost of Rs 1,235 crore.

PNB: State-owned Punjab National Bank (PNB) has raised Rs 5,000 crore through an issue of equity shares to qualified institutional players. The bank allocated about 48.19 crore equity shares at an issue price of Rs 103.75 per share.

Adani Enterprises: Adani New Industries, the green energy components manufacturing arm of Adani Enterprises, is expanding its solar component manufacturing capabilities in India, focusing on solar glass, aluminium frames, and backsheets to strengthen its supply chain for solar cells and modules. ANIL plans to increase its solar cell and module capacity from 4 GW to 10 GW by 2030, alongside setting up facilities for component manufacturing.

Hindustan Unilever: HUL is under pressure as it faces competition from smaller FMCG companies and unorganised sector players, particularly in the soaps segment. The company has implemented price cuts to retain market share and is now focusing on premiumisation across its product range. Analysts suggest HUL’s growth strategy may take time as it adapts to market changes, while e-commerce continues to be a growing avenue for revenue.

Reliance Industries, Network18 Media & Investments: RIL has received government approval to transfer licenses for its non-news and current affairs TV channels to Star India, following a merger with Disney’s Indian media assets. This strategic move is expected to enhance RIL’s competitive position against other media giants. The merger, valued at Rs 70,350 crore, is anticipated to finalise in late 2024 or early 2025. Separately, Candytoy Corporate (CTC) has secured a partnership with Reliance Retail to supply confectionery toys, aiming for rapid expansion across 1,400 stores by the end of the fiscal year.

NLC India: The company is positioning itself to tap into the critical minerals sector, with plans to achieve a mining capacity of 1 million tonnes annually by 2029-30. This move aligns with the growing demand for critical minerals in renewable energy projects, including solar and wind. The company also aims to significantly boost its renewable energy capacity from 1,431 MW to 10,110 MW by 2030.

REC: The state-owned company raised $500 million through green dollar bonds for renewable energy projects. The bonds have a maturity date of September 27, 2029.

Zydus Lifesciences: The company has received approval from the US FDA to manufacture generic Enzalutamide capsules, a prostate cancer treatment drug. The drug’s US market had annual sales of approximately $869.4 million.

Biocon: The company has received four observations from the US FDA after an inspection of its Bengaluru API facility. The company plans to address these findings and does not anticipate any business impact.

Larsen & Toubro: L&T plans to expand its real estate business by acquiring land and enhancing pre-sales. The company aims to grow its portfolio significantly while focusing on premium housing.

Sterling And Wilson Renewable Energy: Shapoorji Pallonji and Khurshed Yazdi Daruvala divested a 7.14 per cent stake in Sterling And Wilson Renewable Energy for approximately Rs 1,040 crore.

IPO listings today: Manba Finance (Mainline), and two SME companies WOL 3D India and Rappid Valves will be listed on the stock exchanges today.

GMR Airports: The Supreme Court’s recent decision allows GMR Airports to continue operating Nagpur’s Babasaheb Ambedkar International Airport, following the closure of curative petitions by the Centre and AAI.

Alkem Laboratories: The pharma company has refuted claims regarding its products Pan-D and Clavam 625 failing quality tests by the CDSCO. The company asserts that the samples tested were spurious and not manufactured by them.

IndusInd Bank: The bank’s board approved the re-appointment of Sumant Kathpalia as MD and CEO for three years, pending RBI approval. He has focused on strengthening the bank’s balance sheet and retail deposit growth.

Tamilnad Mercantile Bank: The bank is developing a roadmap to enhance its MSME portfolio, including new branch openings and establishing MSME hubs. The bank is working with McKinsey to refine its strategy.

Zomato: The company’s co-founder and Chief People Officer, Akriti Chopra has resigned from her role.

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