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Business News/ Markets / Stock Markets/  Stocks to Watch: M&M, Lupin, Delta Corp, PFC, Steel Strips Wheels, KIOCL

Stocks to Watch: M&M, Lupin, Delta Corp, PFC, Steel Strips Wheels, KIOCL

Balrampur Chini Mills, Bandhan Bank, Chambal Fertilisers, Delta Corp, Escorts, GNFC, Hindustan Copper, Indian Energy Exchange, India Cements, Nalco, Piramal Enterprises, and SAIL are the stocks that are under F&O ban today.

Stock markets ended flat on Tuesday. Photographer: Michael Nagle/Bloomberg (Bloomberg)Premium
Stock markets ended flat on Tuesday. Photographer: Michael Nagle/Bloomberg (Bloomberg)

Following are the top ten stocks that are likely to be in news today:

Mahindra & Mahindra: Mobileye Global Inc will supply advanced driver assistance technology for the automaker's next-generation vehicles as it eyes growth in India’s auto market. The companies will also work together on a fully autonomous driving system for India. M&M also announced the acquisition of stake of sustainable energy infra trust by the company and its arm Mahindra Susten.

Lupin: The drug maker said it has launched a generic medication for the treatment of postoperative inflammation in the US market. The company has launched Bromfenac Ophthalmic Solution after having received approval from the US FDA.

Delta Corp: The gaming services company reported a consolidated net profit of 34.48 crore for the quarter ended December, down 59.34%. The revenue from operations fell 15.58 to 234.41 crore. The company recorded an EBITDA of 55.5 crore, down 45%.

Steel Strips Wheels: The company will invest 138 crore in AMW Autocomponent Ltd as part of an insolvency resolution plan. The company's board has decided on the plan after the Ahmedabad Bench of the National Company Law Tribunal gave its nod for its resolution plan for AMW Autocomponent.

Shyam Metalics and Energy: The company has successfully completed a fundraise of 1,385 crore through a Qualified Institutional Placement (QIP), surpassing expectations with bids totaling 4,055 crores, a remarkable 3.5 times the actual funds raised. In a recent meeting, the QIP Committee of SMEL approved the allotment of 24,051,165 equity shares with a face value of 10, which were issued to 38 Qualified Institutional Buyers (QIBs) at a price of 576 per share.

Power Finance Corp: PFC has received approval from the Reserve Bank of India to set up a wholly-owned finance company in the GIFT City in Gujarat. The entity at the International Financial Services Centre (IFSC) will present new business opportunities for PFC and contribute to the growth of the country's power sector.

KIOCL: The company said it has temporarily halted activities at its pellet manufacturing facility in Mangalore from Tuesday. This suspension is attributed to the lack of "iron-ore fines," which are essential for the plant's functioning. The pellet plant plays a vital role in KIOCL's production chain and is a significant aspect of the company's operational processes.

PC Jeweller: The National Company Law Tribunal has granted PC Jeweller and State Bank of India an additional 20 days to resolve the matter concerning a default on a loan payment of 1,180.2 crore by the jewellery maker.

IRCTC: The railways ministry has entrusted Sanjay Kumar Jain with the additional charge of chairperson and managing director of the Indian Railways' catering arm. The appointment, which is pending approval of the competent authority, comes after Seema Kumar, a member of operations and business development of the Railway Board, relinquished the additional charge of the post on 9 January.

Infibeam Avenues: The fintech firm said it has inked a pact with the Gujarat government to invest 2,000 crore in the state by 2030. Infibeam's proposed investment will go into its artificial intelligence (AI) hub for developing technology for payments and platforms specifically tailored for retailers.


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Published: 10 Jan 2024, 07:18 AM IST
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