Monitoring stocks in focus: Delta Corp, Vedanta, KIOCL, Power Grid, M&M, IRCTC, and Lupin
Here are some stocks to watch out for in trade today:
Delta Corp: The company's Q3 consolidated revenue fell 15% YoY to Rs 231.7 crore, while the net profit slumped 59% to Rs 34.5 crore.
Vedanta: Moody's has downgraded Vedanta Resources' corporate family rating to Caa3 from Caa2 and rating on unsecured bonds to Ca from Caa3. Outlook has been maintained as negative.
KIOCL: The company has temporarily suspended operations of the Mangalore-based pellet plant due to the non-availability of iron-ore fines.
Power Grid: Reports say the company plans to float bonds to raise up to Rs 2200 crore today. The base size is said to be Rs 500 crore with a greenshoe option of Rs 1700 crore.
Mahindra and Mahindra: The company plans to work with Mobileye, a US-based automobile technology company, to develop software solutions and explore the creation of a complete autonomous driving system.
Power Finance Corp: The company has received a no-objection letter from the Reserve Bank of India for establishing a finance company in Gujarat International Finance Tec-City (GIFT City).
Lupin: The pharma major launched Bromfenac Ophthalmic Solution, 0.07 percent in the US following the US FDA’s nod.
IRCTC: The Railway Ministry has nominated Sanjay Kumar Jain as the chief managing director of the company.
Steel Strips Wheels: The board of the company has approved the investment of Rs 138 crore in AMW Autocomponent Ltd, as a part of their insolvency resolution plan. The plan was finalized after receiving approval from the Ahmedabad Bench of the National Company Law Tribunal.
Shyam Metalics and Energy: The company has successfully completed fundraising of Rs 1,385 crore through a Qualified Institutional Placement (QIP), surpassing expectations with bids totaling Rs 4,055 crore, 3.5 times the actual funds raised.
Infibeam Avenues: The company has signed an agreement with the Gujarat government to invest 
2,000 crore in the state by 2030.
2,000 crore in the state by 2030.
Polycab India: Media reports of tax evasion were refuted by the company, as they claimed to have not received any communication from the income-tax department regarding the outcome of the search.
