Market Commentary - Stock Alert
Auto stocks, Vedanta, Coal India, JSW Infra, Vaibhav Jewellers in focus As on : 03-Oct-23  08:43

Vedanta: The company on Friday announced the creation of independent verticals through demerger of various companies, mainly its metals, power, aluminium, and oil and gas businesses to unlock value. The demerger will result in the formation of six separate companies, and each will be listed.

Coal India Limited (CIL): CIL produced about 333 million tonnes (MTs) of coal ending first half of the current financial year posting a strong 11.3% year-on-year growth. Output for the month of September 2023 was 51.4 MTs, a 5.8 MTs jump or a growth of 12.6%.

Tata Motors: Tata Motors announced that its total domestic sales in September 2023 stood at 82,023 vehicles, a growth of 2%. Tata Motors sales in the domestic & international market for Q2 FY 2023-24 stood at 2,43,024 vehicles, compared to 2,43,387 units during Q2 FY 2022-23.

Mahindra & Mahindra Ltd. (M&M): M&M announced that its overall auto sales for the month of September 2023 stood at 75,604 vehicles, a growth of 17%, including exports. Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), said domestic tractor sales were at 42,034 units in September 2023, as against 47,100 units during September 2022.

Hero MotoCorp: The manufacturer of motorcycles and scooters sold 536,499 units in September 2023. The company registered a growth of more than 3% over the corresponding month of the previous fiscal when it sold 519,980 units in September 2022.

The company on Friday announced that it will increase the ex-showroom prices of its select motorcycles and scooters, effective from 3 October 2023. The price increase will be around 1% and the exact quantum of increase will vary by specific models and markets.

Maruti Suzuki India: The company sold a total of 181,343 units in September 2023. Total sales in the month include domestic sales of 153,106 units, sales to other OEM of 5,726 units and exports of 22,511 units. Total sales were 176,306 units in September 2022.

JSW Infrastructure: Shares of the company will debut on the bourses today, 3 October 2023. The issue price is Rs 119 per share.

Vaibhav Jewellers: Shares of the company will debut on the stock exchanges today, 3 October 2023. The final issue price is fixed at Rs 215 per share.

Aurobindo Pharma: The drug maker announced that the US drug regulator has issued a Form 483, with 1 observation after inspecting its manufacturing facility in Telangana.

Blue Dart Express: Blue Dart Express will implement a General Price Increase (GPI) effective from 1 January 2024. The average shipment price is set to rise by 9.6% compared to the rates in 2023. This increase will be dependent on the specific shipping profile of each customer.

Godrej Agrovet: The company will be investing Rs 300 crore over the next 3-4 years in setting up the integrated palm oil complex in Telangana.

Kalpataru Projects International: Kalpataru Projects International along with its international subsidiaries has secured new orders aggregating to Rs 1,016 crore.

Rail Vikas Nigam (RVNL): RVNL announced that it has emerged as the lowest bidder (L1) for a contract awarded by the Himachal Pradesh State Electricity Board worth Rs 1,097.68 crore.

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