Indian Stock Market News 15th October 2024
1. PVR Inox to declare Q2 FY25 results; aims to shut 70 non-performing screens and will add 120 screens in FY25.
2. Active Clothing inked manufacturing agreement with PUMA Sports India Pvt. Ltd. as T-1 supplier to increase the customer’s footfalls.
3. Bharti Airtel to launch satcom services that will provide the customers with smooth data and voice connectivity across India, including remote regions, in 15-18 months.
4. Ola Electric reaches 34% market share in India’s electric two-wheeler market, plans to double service centers to 1,000 by Dec ’24.
5. Vodafone Idea nears finalising IT outsourcing contracts to cut reliance on IBM, may sign within 10 days.
6. Gujarat Toolroom share price rose 5% after announcing completion of previous order and receipt of a new order from Reliance Industries.
7. Anand Rathi had maintained its HOLD rating on Tata Consultancy Services, while targeting a share price of 4,432.
8. Network 18 Media surged more than 9 per cent after Reliance Industries updated on the merger of business with Disney India.
9. VA Tech Wabag had won a ₹1,000 crore order from Indosol Solar to construct a 100 MLD desalination plant. This marked its entry into the Solar PV sector.
10. Power: Supreme Court reinstates Adani Power Power’s Rs 27,000 crore insolvency resolution for KSK Mahanadi project, promising 92% recovery for lenders
11. TD Power Systems bags two export orders amounting to 142 crore worth of gas engine generators as demand picks up and strengthens its foothold in overseas markets
12. State Bank of India looks to raise up to Rs 5,000 crore via AT-1 bonds to build equity capital as credit demand surges.
13. HDFC AMC’s Q1FY25 revenue up 34 pc, profit-after-tax climbs over 26 pc to ₹603.76 cr.
14. Sterling & Wilson Renewable Energy bags domestic order worth ₹2,050 cr in Q2 FY25; unexecuted order value touches record ₹10,500 cr .
15. HDFC Life likely to release Q2 results today; APE growth estimates ranging at Rs 3,550-3.834 cr
16. PVR Inox Ltd will announce Q2 results today with net profit at Rs 28 crore and sales of Rs 1,634 crore.
17. HDFC Asset Management Company Ltd is expected to declare Q2 results today. The asset management arm of the company is estimated to have a net profit of Rs 606 crore.
18. KEI Industries will declare Q2 results on October 15, 2024. The bottom line will be estimated to have jumped Rs 167 crore, while the top line is estimated to have risen to Rs 2,266 crore.
19. HSBC kept a Buy recommendation on Maruti Suzuki with a target price at $14,500 a share based on the muted demand and high inventory.
20. Muthoot Finance said that its board has approved the update of its US$ 2 billion Global Medium Term Note Programme to enhance funding capabilities across geographies.
21. Jefferies maintained a buy rating on HDFC Bank with a target price at Rs 1,890, citing strong deposit growth and LDR improvement plans.
22. Promoter Jitendra Mamotra has sold 1.8% in Transformers and Rectifiers (India) at Rs 211 cr after selling in an open market transaction.
23. Lyka Labs gets CDSCO approval for manufacturing and marketing Pregabalin Gel 8% for neuropathic pain in India.
24. Atul Auto’s subsidiary Atul Greentech to tie up with Jio Platforms to provide electric vehicle solutions globally, thereby strengthening market position.
25. Lemon Tree Hotels has entered into a deal with a new 65-room property in Dibrugarh, Assam, to emerge by FY2027.
26. HDFC Life Insurance to deliver APE growth of 17-26% YoY in Q2FY25. VNB expected at Rs 900-978 crore.
27. Reliance Industries to finally consummate the merger of its media assets with Walt Disney’s India business, forming a media giant over Rs 70,000 crore in value.
28. TCS suffered a 60-basis-point contraction in the margin to 24.1%, the lowest in three quarters, as top-line growth slowed down.
29. CESC’s arm Purvah Green Power has signed a Share Purchase Agreement to acquire 100% of Deshraj Solar Energy.
30. Sunteck Realty posts 33% sales bookings growth in Sept Quarter at Rs 524 cr, driven by healthy housing demand.
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