Stocks to Watch Today: Hero MotoCorp, Vodafone, and More
The Indian stock market is expected to be volatile today, with several key stocks in focus. Hero MotoCorp, Vodafone Idea, Shipping Corporation of India, and NTPC Green Energy are some of the stocks that will catch investors’ attention today.
Cipla Enters into Agreement with Eli Lilly
Cipla has entered into an agreement with Eli Lilly to distribute Tirzepatide in India under the brand name Yurpeak. The drug is used to treat Type-2 diabetes and obesity and will be priced the same as Eli Lilly’s Mounjaro.
Hero MotoCorp Expands into UK Market
Hero MotoCorp has expanded into the UK market through a partnership with MotoGB. In addition, the company has launched Euro 5+ range led by Hunk 440, expanding its global presence to 51 countries.
UGRO Capital Approves Issuance of NCDs
UGRO Capital has approved the issuance of 5,000 NCDs worth Rs 50 crore, with an option to retain oversubscription up to Rs 150 crore.
Vodafone Idea Invests in ABRen SPV 3
Vodafone Idea has invested Rs 26,000 as the first tranche out of the total proposed investment of Rs 1.56 crore in the capital of ABRen SPV 3.
Kaynes Technology Acquires Stake in Sensonic GmbH
Kaynes Technology’s subsidiary has entered into an agreement with Frauscher Sensor Technology Group GmbH to acquire a 7% stake in Sensonic GmbH for 1 Euro.
Insolation Energy to Migrate Listing to BSE and NSE Main Boards
Insolation Energy is to migrate its listing from BSE SME to BSE and NSE main boards. The board has approved borrowing limit up to Rs 5,000 crore.
Shipping Corporation of India Grants Consent for Long-Term Business Plan
Shipping Corporation of India’s board has granted consent for its long-term business plan.
Welspun Enterprises Receives Tax Demand from Tamil Nadu Tax Authority
Welspun Enterprises has received a tax demand of Rs 18 crore, including penalty, from the Tamil Nadu Tax Authority.
Himatsingka Seide Approves Fundraise of up to Rs 500 Crore
Himatsingka Seide has approved a fundraise of up to Rs 500 crore through permissible modes, including issuance of shares and other eligible securities.
NTPC Green Energy Declares Commercial Operations of 9.9 MW Wind Project
NTPC Green Energy’s subsidiary has declared commercial operations of 9.9 MW out of its 92.4 MW wind project in Bhuj, raising NTPC Green Energy Group’s total installed capacity to 7,563.57 MW.
Dr Reddy’s Labs, SBI Life, and More to Watch Out for
Dr Reddy’s Labs, SBI Life, SBI Cards, Latent View Analytics, Supreme Petrochem, Coforge, Cigniti Tech, and Aditya Birla AMC are some of the other stocks to watch out for today.
Colgate Palmolive Q2 Highlights
Colgate Palmolive’s Q2 revenue was down 6.2% to Rs 1,519.50 crore versus Rs 1,619.11 crore. Ebitda was down 6% to Rs 465.43 crore versus Rs 497.35 crore. Margin was at 30.6% versus 30.7%. Net Profit was down 17% to Rs 327.50 crore versus Rs 395.05 crore.
PTC India Financial Q2 Highlights
PTC India Financial’s Q2 Net Profit was up 86.2% to Rs 88.1 crore versus Rs 47.3 crore. Net Interest Income was down 6% to Rs 72.3 crore versus Rs 77 crore.
Sagar Cements Q2 Highlights
Sagar Cements’ Q2 revenue was up 26.7% to Rs 602 crore versus Rs 475 crore. Ebitda was up to Rs 51.3 crore versus Rs 19.9 crore. Margin was at 8.5% versus 4.2%. Net Loss was at Rs 42.3 crore versus loss of Rs 55.6 crore.
Midwest to Debut on Stock Exchange Today
Midwest is engaged in the business of exploration, mining, of natural stones. The company’s shares will debut on the stock exchange today. The public issue was subscribed to 87.89 times on day three. The bids were led by QIBs (139.87 times), NIIs (168.07 times) retail investors (24.26 times), Employee reserved (24.44 times).