Indian equities are expected to see stock-specific action today as several companies announced key developments and updates. Here are the major stocks to watch on Wednesday, September 10:
Bajaj Auto: The company has announced that it will pass on the full benefit of the recent GST cut to customers. Prices of its two-wheelers and three-wheelers have been reduced.
Eicher Motors: Royal Enfield will extend the GST benefit to its buyers. The company has cut prices by up to ₹22,000 on its 350cc motorcycles.
Textile companies: Former U.S. President Donald Trump said that India and the United States are continuing negotiations to address trade barriers, a development that could impact textile exporters.
Yes Bank: The Reserve Bank of India has approved the amendment to the bank’s Articles of Association following the completion of its share purchase agreement with SMBC and SBI.
Vikram Solar: Reported Q1 EBITDA margin of 21.40% compared to 17.70% a year earlier. Revenue rose 78% year-on-year.
HEG: Singularity has exercised its right to invest another ₹250 crore in the company and has paid 10% as application money.
Seafood companies: The European Union has approved 102 additional Indian fishery establishments for exports, a move that may boost seafood stocks.
Vadilal Industries: The company has appointed Himanshu Kanwar, formerly with Hindustan Unilever, as its first non-family Chief Executive Officer.
Sterling & Wilson Renewable Energy: Received a Letter of Intent from an Independent Power Producer in Rajasthan for a 300 MW solar project worth ₹415 crore.
Sri Lotus: Secured a luxury redevelopment project in Bandra near the Bandstand promenade in Mumbai.
MTAR Technologies: Won an order worth approximately ₹381 crore from Bloom Energy Corporation.
Kotak Mahindra Bank: Sumitomo Mitsui Banking Corporation (SMBC) is likely to sell up to 1.65% equity in the lender through block deals. The floor price has been set at a 4% discount to the current market price.
Sun Pharma: The U.S. FDA has found that the company’s Halol manufacturing facility is not fully compliant with current good manufacturing practices.
Blue Jet Healthcare: Opened its offer for sale to raise up to ₹800 crore. The floor price is set at a 7.6% discount to the prevailing market price.
Vodafone Idea: The company has filed a plea in the Supreme Court against the Department of Telecommunications’ fresh demand of ₹9,450 crore towards adjusted gross revenue (AGR) dues.
