Stocks to Watch: Tata Motors, Nykaa, Ola Electric, Hi-Tech Pipes, and More

By siliconindia  |  Tuesday, 08 October 2024, 09:52:34 AM IST

Stocks to Watch: Tata Motors, Nykaa, Ola Electric, Hi-Tech Pipes, and More
Here's a quick recap of stocks that are likely to attract attention in today's trading session
Tata Motors: Jaguar Land Rover (JLR), the British luxury car division of Tata Motors, said retail sales declined 3 percent year-on-year at 103,108 units during the second quarter of FY25. Nevertheless, Q1FY25 retail sales increased by 3% on a year-on-year basis at 214,288 units.  Production in Q2 FY25 stood at 86,000 units, down 7% from 93,000 units last year, mainly due to aluminum supply disruptions faced in Q1. Regional sales were again mixed, though; UK was up 29%, North America up 9%, while Europe, China, and other regions fell by 22%, 17%, and 6%, respectively.
Nykaa: Nykaa reported mid-twenties growth in consolidated net revenue for the quarter ending September 2024. Demand in the fashion segment, however, was lacklustre in the first half of FY25 and improved only in the fourth quarter. Analysts expect a steady recovery in the second half on the back of the approaching festive and wedding season.
Ola Electric: Complaints of service-related issues by consumers have prompted the Central Consumer Protection Authority to issue a show cause notice to Ola Electric. The company must explain within 15 days why it has been indulging in unfair trade practices and false advertisements at a time when public criticism of its service standards is growing fast.
Hero Motors: According to reports, SEBI declared Hero Motors has withdrawn its draft red herring prospectus on October 5. On the other side, Suraksha Diagnostic gets approved to launch the IPO. Hero Motors, flagship auto components division of Hero Motors Company (HMC) Group, had lined up a public issue to garner Rs 900 crore, with fresh equity constituting Rs 500 crore and OFS by its promoters - OP Munjal Holdings, Bhagyoday Investments, and Hero Cycles aggregating to Rs 400 crore.
Axis Bank: Axis Bank secured $500 million loan from IFC, which is part of the World Bank, a type of financing that should help promote greener project financing in India. The blue investment is IFC's first investment in India whereas its first ever blue loan issued by a financial institution in India.
Pfizer Wins Battle in UK Court A London court has ruled that Pfizer invalidated two patents GSK held on a vaccine for a respiratory syncytial virus, or RSV. Both the pharmaceutical companies are vying to gain an edge in the market to produce RSV vaccines. The disease causes cold-like symptoms and pneumonia among infants and elderly people. GSK, however maintained after the verdict that nothing would prevent it from marketing its RSV vaccine, Arexvy.
Hi-Tech Pipes : Hi-Tech Pipes board of directors approved the plan to bring out a QIP at the floor price Rs 194.98 per equity share. The company intends to raise Rs 600 crore under QIP and, in the absence of an exemption from SEBI, may avail of up to 5% discount on the floor price. Hi-Tech Pipes is considered India's third-largest pipe manufacturer and boasts of having almost a million tonne capacity.
HDFC Bank: HDFC Bank said it is selling its 100% stake in subsidiary HDFC Education to Vama Sundari Investments through an all-cash consideration of Rs 192 crore with a sale consideration of Rs 9.60 per share. This will sell 91% of the stake by October 31, 2024, and sell the remaining 9% on or before June 30, 2025, after which HDFC Education will no longer be a subsidiary.
Kalyan Jewellers: Kalyan Jewellers observed a robust 39% revenue growth in India for Q2 FY25, on account of increased footfalls and a 23% expansion in same-store sales. Back-to-back reductions in customs duties on imports of gold have brought in decent sales growth, and the company is looking to increase its showrooms before the onset of the festival season.
Some of the companies scheduled to announce their quarterly earnings today are Navkar Corporation, Transformers and Rectifiers India, VL E-Governance & IT Solutions, Darshan Orna, Emerald Finance, Gautam Gems, Hawa Engineers, and Integra Switchgear.

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