Stocks to Watch Today: Urban Company, Eicher Motors, Tata Chemicals, and Ixigo
Several stocks are expected to be in focus on Monday, driven by recent corporate announcements and updates. Urban Company, Eicher Motors, Tata Chemicals, and Ixigo are among the key stocks to watch today.
Corporate Announcements and Updates
After Friday’s market hours, several important corporate announcements were made. Adani Enterprises divested a 50% stake in Kutch Copper Tubes to MetTube Mauritius, and completed the acquisition of a 50% stake in MetTube Copper India. ICICI Bank received RBI approval for granting voting rights on deposited securities to registered holders of American Depository Shares.
Urban Company‘s board approved the voluntary dissolution of its Saudi Arabia-based step-down subsidiary, Urban Company Arabia, with operations transferred to a joint venture effective January 1. Ixigo‘s board approved raising ₹1,296 cr through a preferential issue, issuing 4.6 cr shares at ₹280 apiece to MIH Investments One BV on a private placement basis.
October Business Updates
Coal India reported a 9.8% decrease in total coal production at 56.4 MT (YoY) and a 5.9% decrease in total coal offtake at 58.3 MT (YoY) in October. SML Isuzu saw a 32% increase in total sales at 1,059 units (YoY), with PV sales up 36% at 552 units (YoY) and cargo vehicle sales up 29% at 507 units (YoY) in October.
Mahindra & Mahindra reported a 31% increase in domestic PV sales at 71,624 units (YoY), with exports up 15% at 4,015 units (YoY) and total sales up 26% at 1.2 lakh units (YoY) in October. The company also saw a 14% increase in domestic CV sales at 31,741 units (YoY) and a 13% increase in total tractor sales at 73,660 units (YoY).
Auto Sales Updates
Escorts Kubota reported a 3.8% increase in total tractor sales at 18,798 units (YoY), with domestic tractor sales up 3.3% at 18,423 units (YoY) and tractor exports up 38.4% at 375 units (YoY) in October. Bank Of Baroda Q2 Review: Strong Earnings Boost Brokerage Outlook