Stocks to Watch: APSEZ, Maruti, Hero Moto, Eicher, REC, Puravankara

Adani Ports and Special Economic Zone: Adani International Ports Holdings Pte Ltd (AIPH), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.

Cochin Shipyard: Udupi Cochin Shipyard, a subsidiary of Cochin Shipyard, has won an order from Ocean Sparkle Limited, an Indian tug operator under Adani Harbour Services, for the construction of three Azimuth Stern Drive (ASD) Tugs of 70 T bollard pull power.

Deepak Nitrite: The company announced that its subsidiary, Deepak Chem Tech Ltd, will acquire a 100% stake in Narmada Thermal Power Private Ltd for a cash consideration of ₹61.65 crore. The acquisition is expected to be completed by June 30.

Tata Steel: The company faces industrial action from around 1,500 employees based at Port Talbot and Newport Llanwern in Wales. The steelworkers’ union, Unite the Union, announced plans to proceed with the industrial action in protest against Tata Steel’s job cuts associated with the closure of old blast furnaces.

Maruti Suzuki India: The company's total sales dipped by 2% to 1.74 lakh units in May, while domestic sales rose by 3.7% to 1.57 lakh units. Domestic passenger vehicle sales saw a marginal increase of 0.2%. Exports dropped significantly by 34.4%, but total production increased by 7.2%. Maruti also reduced prices of its auto gear shift variants by ₹5,000 per unit effective from June 1.

Mahindra and Mahindra: The company's total sales volumes grew by 16.7% to 71,682 units in May. Passenger vehicle sales saw a significant increase of 31%, and tractor sales increased by 9%. Tractor exports saw a massive growth of 85%.

Hero MotoCorp: The company's sales volume fell by 4.1% to 4.98 lakh units in May, with domestic sales declining by 5.7%. However, exports saw a significant growth of 67.3%.

Eicher Motors: Royal Enfield sales were down by 8%, but International Business (Royal Enfield) sales grew by 12%. Total VECV sales were up by 9.7% in May.

Praj Industries: The company reported a 4.3% YoY increase in net profit at ₹91.9 crore for Q4FY24. The company’s revenue from operations increased 1.5% to ₹1,018.6 crore. EBITDA rose 20.9% to ₹130.8 crore, with an EBITDA margin of 12.8%. The company’s order intake during the quarter was ₹924 crore, with a consolidated order backlog of ₹3,528 crore as of March 31, 2024.

NMDC: The company reported a 37% YoY decrease in total iron ore production to 2.34 million tonnes in May 2024, with iron ore sales dropping 22% YoY to 2.82 million tonnes.

Tata Motors: The company's total sales grew by 2.4% to 76,766 units in May, with domestic sales and commercial vehicle sales both increasing by 2%. Passenger vehicle sales also saw a 2% increase.

Ashoka Buildcon: The company has secured the lowest bid for two projects valued at ₹2,153 crore from the Maharashtra State Road Development Corporation.

Ahluwalia Contracts: The company has been awarded a ₹2,157 crore contract from India Jewellery Park, Mumbai, for the construction and development of Gems & Jewellery Park in Mahape, Navi Mumbai. Additionally, it has won a ₹88.15 crore contract from Daffodil Hotel.

BSE: The company completed the acquisition of S&P Dow Jones Indices’ entire equity stake in Asia Index (AIPL), making AIPL a wholly-owned subsidiary of BSE.

Coal India: The company recorded a significant 7.5% rise in production, with offtake rising 7.2% in May.

REC: The company’s board has approved raising the borrowing limit in foreign currency to $24 billion from $20 billion. The overall borrowing limit in Indian rupees was retained at ₹6 lakh crore.

Puravankara: The company has acquired 12.75 acres of land in Patlipada on Ghodbunder Road, Thane. The land has an estimated potential carpet area of 18.20 lakh sq ft and a potential Gross Development Value (GDV) of ₹4,000 crore over the project lifecycle.

TVS Motor Company: The company's total sales grew by 12% to 3.70 lakh units in May, with 2-wheeler sales up by 13%. Electric vehicle sales increased by 4%, and exports jumped by 27%. However, 3-wheeler sales were down by 8.8%.

SML Isuzu: The company's sales were up by 21.2% at 1,563 units, with passenger vehicles growing by 19.3%.

PNC Infratech: The company announced on 31 May that its subsidiary, PNC Kanpur Highways, has received ₹390.62 crore from the National Highways Authority of India (NHAI). This payment, part of a settlement agreement under the Government of India’s ‘Vivad Se Vishwas II (Contractual Disputes)’ Scheme, marks a significant resolution of contractual disputes between NHAI and PNC Kanpur Highways.

Poonawalla Fincorp: The company has achieved a milestone with gross NPA below 1% and net NPA below 0.5% as of May 31, 2024.

Oil and Natural Gas Corporation: ONGC announced the retirement of K C Ramesh as Chief Financial Officer effective 1 June.

Shriram Finance: The company's board approved the re-appointment of Umesh Revankar as Executive Vice Chairman for five years, starting 26 October, 2024. Parag Sharma was elevated and re-designated as Managing Director & CFO effective 1 June, 2024.

Endurance Technologies: The company’ subsidiary, Endurance Overseas Srl, Italy, acquired a 100% stake in Italy-based Ingenia Automation Srl for 3.6 million euros.

Punjab National Bank, Indian Bank: Both the banks have increased their marginal cost of funds-based lending rate by 5 bps on various tenures, effective from 1 June and 3 June, respectively.

Atul Auto: The company's total sales were up by a significant 112% at 2,331 units.

VST Tillers: The company's power tillers and tractors sales were down by 34.1% to 2,474 units.

Ashok Leyland: The company reported a 12% increase in total wholesales at 14,682 units in May.

Godfrey Phillips: Samir Modi, executive director of Godfrey Phillips, has lodged a complaint against his mother, Bina Modi, accusing her of instigating an attack on him. The incident occurred during a board meeting on May 30, further escalating the family dispute over the late KK Modi’s ₹11,000-crore estate. Samir alleges that his mother’s personal security officer assaulted him, resulting in a broken finger. Despite his injuries, he claims he was forced to participate in the meeting.

Escorts Kubota: The agri-machinery business division of Escorts Kubota reported tractor sales slowing down to 8,612 units in May, marking a 6.1% decline from 9,167 units sold last year.

Zomato: The company asked its customers to avoid ordering food during the peak afternoon hours due to intense heatwave conditions across the country.

Titan: The company plans to expand its market share in the jewellery business by increasing its store count by nearly 40% to 1,250 across its jewellery brands by FY27. The company also outlined plans to triple volumes in emerging businesses such as wearables, women’s bags, and ethnic wear by FY27.

EaseMyTrip: The company continues to halt bookings to the Maldives. The company’s CEO, Nishant Pitti, confirmed this in response to a Kerala Congress tweet accusing the company of resuming bookings. Pitti emphasized the company’s nationalistic approach and questioned why the focus was only on them when other travel portals never stopped promoting the Maldives.

Kotak Mahindra Bank: S&P Global Ratings expects Kotak Mahindra Bank to improve its credit and funding profile over the next 12 months. The bank has made significant progress on tech enhancement in the last 18 months, including hiring a Chief Technology Officer.

MosChip Technologies: The company has secured a contract worth ₹509.37 crore from the Centre for Development of Advanced Computing (CDAC). The contract involves the development of a high-performance computing (HPC) System on a Chip (SoC) using 5nm technology.

Tata Motors: The company’s proposed demerger of its automotive business into two listed entities will help the commercial vehicle vertical become more agile and capitalize on global opportunities, according to the company’s Executive Director, Girish Wagh.

Canara Bank: The bank has received approval to raise up to ₹8,500 crore this financial year through debt instruments. The bank plans to raise ₹4,000 crore through Basel-III compliant Additional Tier-I bonds and ₹4,500 crore through Tier-II bonds.

Cartrade: Tech TT Emerging Markets Unconstrained Fund bought a 1.16% stake in Cartrade Tech, while CMDB II sold around 3.97 percent stake in the company.

Suzlon Group: The company has secured a wind energy project of about 82 MW from Oyster Green Hybrid One Pvt Ltd. The company will install 26 wind turbine generators (WTGs), each having a rated capacity of 3.15 MW.

TBO Tek: The company reported a 64% rise in Q4 profit after tax at ₹46 crore, with revenue jumped 31% to ₹369 crore. For FY24, PAT stood at ₹201 crore, up 31%, and revenue was recorded at ₹1,393 crore, an increase of 35%. The gross transaction value during FY24 surged to ₹26,536 crore, marking a 19% YoY growth.

MOIL: The company announced a significant increase in the prices of various grades of manganese ore and electrolytic manganese dioxide (EMD) from the midnight of May 31.

Caspian Corporate Services: The company reported a massive increase in revenue by 3,659.46% YoY to at ₹24.44 crore in March 2024. Quarterly net profit also rose significantly by 3,130.8% to ₹4.43 crore, and EBITDA was up by 1,713.04% at ₹4.17 crore.

Hindustan Adhesives: The company reported an increase in revenue by 32.12% YoY to ₹71.61 crore in March 2024. The quarterly net profit also increased by 265.05% to ₹3.76 crore, and EBITDA was up by 93.22% at ₹7.98 crore.

SEL Manufacturing Company: The company reported a sharp decline in revenue by 87.73% YoY, standing at ₹28.01 crore in March 2024. The company reported a quarterly net loss of ₹41.53 crore, and EBITDA stood negative at ₹6.35 crore.

Jet Freight Logistics: The company reported a slight increase in revenue by 2.46% YoY to ₹98.31 crore in March 2024. Quarterly net profit also increased by 168.5% to ₹2.67 crore, and EBITDA was up by 14.53% at ₹5.28 crore.