Here’s a snapshot of stocks likely to capture attention in today’s trading session:
Hero MotoCorp Ltd.
Hero MotoCorp has received a Goods and Services Tax (GST) demand notice amounting to ₹17.64 crore from the GST Officer, Government of NCT Delhi’s Department of Trade and Taxes. The notice, disclosed in the company’s BSE filing on August 18, 2024, includes a ₹9.38 crore tax demand under Section 73 of the Central Goods & Service Tax Act, 2017 (CGST Act), along with ₹7.32 crore in interest and ₹93.86 lakh in penalties.
Escorts Kubota Ltd.
Escorts Kubota plans to invest up to ₹4,500 crore in establishing a new greenfield facility in Uttar Pradesh. The company has submitted an ‘Investment Intent’ to the state government for land acquisition. This new facility is expected to enhance the company’s manufacturing capabilities, with investments planned in phases.
GMR Airports Infrastructure Ltd.
GMR Airports reported a 7.7% year-on-year increase in total passenger traffic for July 2024, reaching 1.06 crore passengers. Domestic traffic grew by 7.1% YoY, and international traffic rose by 9.3% YoY. Aircraft movements increased by 6% YoY to 68,755. On August 14, GMR Airports’ Board approved plans to raise up to ₹5,000 crore through various means, including qualified institutional placement (QIP) or foreign currency convertible bonds (FCCBs).
DEE Development Engineers Ltd.
DEE Development Engineers reported a profit after tax of ₹3.19 crore for Q1 FY2024, a turnaround from a ₹4.58 crore loss in the same quarter the previous year. The company’s total income increased to ₹188.17 crore from ₹159.46 crore in Q1 FY2023. The order book stood at ₹803 crore as of June 30, 2024, with a recent international contract valued at approximately ₹340 crore.
SpiceJet Ltd.
SpiceJet is appealing a Delhi High Court order requiring the grounding of three leased engines due to overdue rental payments. The airline’s appeal challenges the decision made on August 14, which mandated the return and inspection of engines leased from French companies. SpiceJet’s proposal to pledge shares as collateral against its liabilities was rejected by the lessors.
Adani Enterprises Ltd.
Adani Enterprises’ Management Committee has approved the public issuance of non-convertible debentures (NCDs) up to ₹400 crore, with an option to retain oversubscription up to an additional ₹400 crore, totaling a potential issuance of ₹800 crore.
Jubilant Pharmova Ltd.
Jubilant Biosys Innovative Research Services Pte, a subsidiary of Jubilant Biosys, has issued a “put option offer” to Pierre Fabre Laboratories. Jubilant Biosys will acquire 80% of the equity capital in a newly established French company, valued at 4.4 million euros over two years. This new entity will acquire Pierre Fabre’s R&D Centre at Saint Julien, France, enhancing Jubilant Biosys’ presence in the European biologics and antibody drug conjugate (ADC) market.
Hindustan Zinc Ltd.
Promoter Vedanta has opted to exercise the oversubscription option in Hindustan Zinc’s offer-for-sale, involving 1,21,65,562 equity shares (0.29% of paid-up equity share capital). This is in addition to the 5,14,40,329 equity shares (1.22% stake) included in the base offer, raising the total offer size to up to 6,36,05,891 equity shares (1.51% stake). Retail investors will be allocated 63,60,590 equity shares on August 19.
Samvardhana Motherson International Ltd.
Samvardhana Motherson International is set to acquire a 34% stake in Motherson Auto Solutions Limited from Sojitz Corporation. This acquisition is contingent on certain conditions being met by its subsidiary, Samvardhana Motherson Innovative Solutions Limited.
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