Here’s a quick look at stocks likely to be in focus in today’s trade.
Tata Motors (Jaguar Land Rover): Jaguar Land Rover (JLR), a subsidiary of Tata Motors, showcased a mixed performance in Q3 FY25. Wholesale volumes rose by 3 percent year-on-year (YoY) to 1,04,427 units, recovering from earlier supply chain disruptions. However, retail sales saw a 3 percent YoY decline, standing at 1,06,334 units. Sequentially, wholesales surged by 20 percent from Q2 FY25, driven by strong demand for flagship models like Range Rover (+22 percent), Range Rover Sport (+17 percent), and Defender (+13 percent). Notably, high-margin models accounted for 70 percent of total wholesale volumes.
Lupin: Pharmaceutical company Lupin received an Establishment Inspection Report (EIR) from the US FDA for its Pithampur Unit-1 facility, which manufactures APIs and finished products. The EIR, following an inspection conducted from September 16-27, 2024, classified the facility under “Voluntary Action Indicated” (VAI).
Anand Rathi Wealth: Anand Rathi Wealth announced its intention to consider issuing bonus shares for the first time. The board of directors will meet on January 13, 2025, to deliberate on the proposal, marking a key milestone for the wealth management firm.
PN Gadgil Jewellers: PN Gadgil Jewellers reported robust Q3 FY25 performance, with consolidated revenue growing 24 percent YoY, driven by festive demand and strong same-store sales. Retail revenue surged by 42 percent, franchise operations posted an 87 percent growth, and the e-commerce segment outperformed with a 98 percent revenue increase. The diamond category recorded a 40 percent YoY growth.
BHEL: Bharat Heavy Electricals Ltd (BHEL) commissioned the first two units of the Punatsangchhu-II hydroelectric project in Bhutan. This 6×170 MW greenfield project is part of a bilateral agreement between India and Bhutan, located in Wangdue district.
PI Industries: PI Industries received a customs demand notice totaling ₹82.83 crore for input material classification issues from July 2018 to November 2022. The agrochemical firm stated that the demand would not materially impact its financials and intends to seek legal remedies.
Hindalco (Novelis Inc): Hindalco’s US subsidiary Novelis Inc announced plans to issue $500 million in senior unsecured notes due 2030. Proceeds will primarily repay $491 million in outstanding borrowings under its revolving credit facility.
MOIL: Manganese Ore India Ltd (MOIL) received a ₹16.77 crore penalty from the Balaghat Collector for exceeding production limits at its Tirodi mine during specific periods.
ACME Solar: ACME Solar Holdings commissioned an additional 90 MW solar capacity in Rajasthan, bringing its total operational renewable capacity to 2,453 MW.
GMR Airports: GMR Airports entered into a Share Purchase Agreement to acquire 50 percent of Bird Delhi General Aviation Services’ equity and preference shares for ₹15.02 crore. This strategic acquisition expands its presence in the aviation services sector.
