Stocks To Watch: Paytm, Adani Wilmar, Zomato, HDFC Bank, IndiGo, SBI, REC, And Others
Stocks To Watch On October 7: Domestic markets were gripped by bearish trends in the last week, owing to geopolitical tensions and FII outflows. In today’s trade, shares of Jio Financial, Titan, Adani Wilmar, IDFC Bank, Zomato among others will be in focus due to various news developments.
Godrej Properties: Godrej Properties’ booking value grew 3% year-on-year to nearly Rs 5,200 crore from sale of over 5.1 million sq ft during the second quarter.
Vodafone Idea: The Department of Telecommunications (DoT) has issued a notice to Vodafone Idea concerning non-payment of bank guarantees needed to cover for past spectrum auction dues.
Paytm: Manmeet Singh Dhody ceased to be CTO – payments & SMP of the company with effect from October 4. The company appointed a new CTO for the same position.
Jio Financial: Sebi has granted in-principle approval to the company and BlackRock Financial Management Inc to act as co-sponsors and set up the proposed mutual fund.
Adani Wilmar: Adani Wilmar said on Friday it expects second-quarter standalone revenue to grow 16%, on account of higher sales volumes at its mainstay edible oil segment and fast-growing foods business.
Zomato: Online food delivery platform Zomato has granted 1.19 crore stock options to eligible employees under its ESOP plan.
HDFC Bank: The private lender has reported deposit growth of over Rs 1.2 trillion in Q2FY25, surpassing expectations. Deposits rose 5.1 per cent sequentially, with the total deposit base reaching Rs 25 trillion, a 15.1 per cent YoY increase. While gross advances stood at Rs 25.19 trillion, marking a 7 per cent YoY rise, the bank is focusing on reducing its loan-to-deposit ratio post-merger with HDFC. Analysts also anticipate significant inflows as HDFC Bank is set to see an increased weight in MSCI indices, potentially attracting over $1.8 billion.
IndiGo Airlines: The airline faced a substantial system outage on Saturday, leading to delays and stranded passengers across multiple airports. The airline is working to resolve the issues and minimise customer inconvenience as travel increases during the festive season.
Honasa Consumer: The Mamaearth parent announced that no assets will be attached in the UAE due to ongoing litigation there, as the company has no assets there. Despite a recent court ruling related to its distributorship dispute, the company is appealing and expects no adverse financial impact during the proceedings.
State Bank of India: The bank plans to recruit around 10,000 new employees to bolster its banking and tech capabilities, its chairman and managing director CS Setty said. SBI plans to open 600 new branches and continues to enhance its digital services to meet changing customer expectations.
REC: The state-owned company has disbursed loans totaling Rs 90,955 crore in H1FY25, reflecting a 20.1 per cent YoY increase. Green loans constituted a significant portion, highlighting REC’s commitment to renewable energy financing, which accounted for 13 per cent of total disbursements in Q2FY25.
Adani Total Gas: The company has started the blending of green hydrogen with natural gas at its Ahmedabad facility to reduce emissions. The project marks a significant step in the transition to cleaner energy solutions, with plans to gradually increase hydrogen blend levels.
Hindalco Industries, JSW Steel: Both companies are vying for two copper mines in Jharkhand, which are set to be auctioned this month. With a combined capacity of three million tonnes per annum, these mines could enhance domestic copper production and reduce reliance on imports.
Bank of Maharashtra: Life Insurance Corporation of India has increased its shareholding in Bank of Maharashtra from 4.05 per cent to 7.10 per cent following the allotment of shares during a QIP. LIC acquired 3.376 per cent equity at an average cost of Rs 57.36, reflecting its confidence in the bank’s prospects.
Larsen & Toubro: L&T is expanding into the international space market, particularly for the next International Space Station being planned by NASA. L&T aims for significant turnover growth in the space economy, driven by government policies supporting private sector participation.
Canara Bank: The bank is inviting expressions of interest (EoIs) for a Swiss challenge auction to divest its exposure in three NSL group companies: NSL Sugar Ltd, NSL Krishnaveni Sugar Ltd, and NSL Textiles Ltd. The total reserve prices for these assets amount to Rs 394.59 crore.
SpiceJet: Amid financial struggles, SpiceJet had raised Rs 3,000 crore through a Qualified Institutional Placement (QIP) recently. Following the fundraise, it has recently cleared pending salary and GST dues, along with depositing ten months’ worth of provident fund contributions. However, it continues to operate with a smaller fleet due to ongoing challenges.
Godrej Properties: The company posted strong sales performance, with bookings surpassing Rs 13,800 crore in H1FY25. It aims to achieve a target of Rs 27,500 crore for the fiscal year, capitalising on the growing demand for premium homes.
Macrotech Developers: The realty firm achieved record pre-sales of Rs 4,290 crore in Q2FY25, a 21 per cent YoY increase, despite the traditionally inauspicious ‘Shradhh’ period. The company also reported collections of Rs 3,070 crore, up 11 per cent YoY.
SAMHI Hotels: The company has approved the acquisition of Innmar Tourism and Hotels for Rs 205 crore, expanding its portfolio with an operating hotel and potential for additional rooms. The transaction is expected to close soon.
Eco Hotels and Resorts: The company is aiming for profitability by FY26 while expanding its portfolio with eco-friendly properties. The company has recently acquired three new properties and aims for a total of 5,000 rooms in five years.
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