Buzzing Stocks: RVNL, Hero Moto, Avenue Supermarts, PNB, Sun Pharma, others in news

Rail Vikas Nigam: The joint venture KRDCL-RVNL has received a letter of acceptance for major upgradation and redevelopment of Varkala Sivagiri railway station. The project cost is Rs 123.36 crore. KRDCL is the lead member in the project with 51 percent share, and RVNL is the other member with 49 percent share. Further, Rail Vikas Nigam has signed a MoU with REC for mutual benefits by way of RVNL presenting bankable projects with an assured or projected source of revenue or returns and REC exploring the scope and spread of providing finances to such projects directly with pre-stipulated conditions and returns for itself.

Avenue Supermarts: The D-Mart chain operator has clocked 17.2 percent on-year growth in standalone revenue from operations at Rs 13,247.33 crore for the quarter ended December FY24. The total number of stores as of December 2023 stood at 341.

Hero MotoCorp: The world’s largest two-wheeler maker has sold 3,93,952 units of motorcycles and scooters in December 2023, down 0.05 percent compared to 3,94,179 units dispatched in the year-ago month. Domestic sales fell 0.92 percent YoY to 3,77,842 units, but exports jumped 25.7 percent to 16,110 units during the same period.

Bank of Maharashtra: The public sector lender has recorded 18.92 percent on-year growth in total business at Rs 4.34 lakh crore for the quarter ended December FY24, with deposits increasing by 17.9 percent to Rs 2.46 lakh crore and gross advances rising 20.3 percent to Rs 1.89 lakh crore.

Coal India: Coal India supplied an all-time high volume of 98 million metric tons (mts) to non-regulated sector (NRS) consumers until December FY24. This translates to a whopping 23 million metric tons increase, with 31 percent growth over the 75 million metric tons of the same period last fiscal. With increased production and maximized supplies through all modes of dispatch, Coal India’s offtake to power plants in the country rose to 454 MT during April–December FY24. This is 8 metric tons higher than the committed quantity of 446 metric tons for the period. Compared to 433 mt of April–December last year, the increase is 21 mt, with around 5 percent growth.

Yes Bank: The private sector lender has registered 11.9 percent on-year growth in loans and advances at Rs 2.17 lakh crore and 13.2 percent growth in deposits at Rs 2.41 lakh crore for the quarter ended December FY24, while CASA jumped 12.2 percent to Rs 71,749 crore.

Sun Pharmaceutical Industries: The pharma major has acquired Libra Merger Ltd., a company incorporated in Israel. The acquisition will facilitate the consolidation of the company’s business in Israel.

V-Mart: The same store sales growth (SSSG) stood at +4 percent for the quarter ended December FY24. The company recorded revenue from operations at Rs 889 crore for the quarter, increasing 14 percent over a year-ago period. Income from the LimeRoad digital marketplace of Rs 17 crore represented the commission income charged from sellers on the net merchandising value (NMV) of Rs 41 crore.

Exide Industries: The automobile battery manufacturer has increased the corporate guarantee limit from Rs 2,000 crore to Rs 3,000 crore for its subsidiary, Exide Energy Solutions. As part of this exercise, the company has executed a deed of corporate guarantee with ICICI Bank, thus totaling an overall limit of Rs 750 crore. The company is in the process of executing the agreements for balance amounts with various other banks.

Punjab National Bank: The public sector lender has registered 11.1 percent on-year growth in global business at Rs 22.96 lakh crore for the quarter ended December FY24, with global deposits increasing 9.4 percent YoY to Rs 13.23 lakh crore and advances rising 13.5 percent to Rs 9.72 lakh crore.

MOIL: The company achieved the best ever monthly production of manganese ore and registered production of 1.85 lakh MT in December 2023, which is 31 percent higher YoY. In FY24 so far, it has registered a 41 percent YoY growth in production at 12.73 lakh MT of manganese ore.

Mahindra EPC Irrigation: The company has received four contracts for the supply of pressurized micro irrigation systems. The contract value is approximately Rs 13.34 crore.

Hindustan Zinc: The mined metal production at 2,71,000 metric tons grew by 7 percent YoY and 8 percent QoQ, driven by a mix of improved mined metal grades and higher ore production at Rampura Agucha and Sindesar Khurd Mines. Refined metal production at 2,59,000 metric tons grew 7 percent sequentially, resulting from better plant availability and up 1 percent YoY. Refined lead production was at 56,000 metric tons, up 21 percent YoY on account of pyro operations in lead mode to maximize silver production, as mentioned above, and down 1 percent QoQ.

Strides Pharma Science: Amansa Holding has picked up a 2 percent equity stake in the pharma company via open market transactions. Amansa bought 5,94,000 equity shares on the BSE at an average price of Rs 659.41 per share and another 12,23,200 shares at an average price of Rs 659.81 per share.

Birlasoft: Manjunath Kygonahally has been appointed as the Chief Executive Officer (CEO) for the Rest of the World (ROW) region and senior management personnel of the company, with effect from January 2. Before joining Birasoft, he was leading the communications, media, and entertainment (CMT) business for Cognizant’s global growth markets based out of London.

Brigade Enterprises: The company has acquired an additional stake of 4.53 percent in BCV Developers, a subsidiary of the company, from joint venture partners. Accordingly, the shareholding of the company has increased from 62.51 percent to 67.04 percent in BCV Developers.

DCB Bank: ICICI Prudential Asset Management Company (ICICI AMC) and ICICI Ventures Fund Management Company (ICICI Ventures) received approval from the Reserve Bank of India (RBI) to acquire an aggregate holding of up to 9.95 percent of the paid-up share capital or voting rights of DCB Bank.

Lotus Chocolate: Sandipan Ghosh has been appointed as the Chief Executive Officer of the company, effective January 3, in place of Sikander Aman Khullar. Sikander demitted office as the Chief Executive Officer of the company with effect from January 2 to pursue interests outside the company.

Alembic Pharmaceuticals: The pharma company has issued a corporate guarantee in favor of Citi Bank NA, USA, for working capital facilities in US subsidiary Alembic Pharmaceuticals Inc., USA (API, USA). This is in addition to existing corporate guarantees already issued by the company in favor of Citi Bank NA, USA, for sanctioning a credit facility or loan of $5 million to API, USA.

VST Industries: Ace investor Radhakishan Shivkishan Damani has bought 2,22,935 equity shares in the cigarette company at an average price of Rs 3,390 per share, valued at Rs 75.57 crore. SBI Mutual Fund picked 2.25 lakh shares at the same price, whereas HDFC Mutual Fund sold 2 lakh shares at an average price of Rs 3,390.13 per share, and DSP Mutual Fund offloaded 2.5 lakh shares at an average price of Rs 3,390 per share.

PDS: Malabar India Fund has picked 10 lakh equity shares, equivalent to 0.76 percent of paid-up equity, at an average price of Rs 505.17 per share.

Sudarshan Pharma Industries: The company has made an advance payment of AED 35,99,048 to Regans International DMCC for the import of chemicals. But even after six months, the company was unable to receive the material. Hence, the company is taking legal action against the supplier. It is in the process of either obtaining the material or demanding a refund of the advance payment.

Shyam Metalics and Energy: The company has opened its qualified institution placement (QIP) issue on January 2, with a floor price of Rs 597.63 per share.

Sundaram Clayton: The company has received a GST demand amounting to Rs 14.40 crore and imposing a penalty of Rs 70.8 lakh for FY18 from the Joint Commissioner of Commercial Tax Officer, Chennai. The company has received the orders on the grounds of excess IGST credit availed and a shortfall in payment of taxes as per the returns filed.

Ugar Sugar Works: The company has appointed Sohan S. Shirgaokar as Executive Director for three years, with effect from January 1.

Shri Balaji Valve Components: The company is set to debut on the BSE SME on January 3. The final issue price has been fixed at Rs 100 per share. The stock will be in the trade-for-trade segment for 10 trading days.

Manoj Ceramic: The Mumbai-based ceramic tile and tile adhesive trader, will debut on the BSE SME on January 3. The issue price is Rs. 62 per share. The stock will be in the trade-for-trade segment for 10 trading days.

Akanksha Power & Infrastructure: The electric equipment manufacturer will list its equity shares on the NSE Emerge on January 3. The final issue price has been set at Rs. 55 per share. Its equity shares will be available for trading in the trade-for-trade segment.

HRH Next Services: The Telangana-based business process outsourcing company will make its debut on the NSE Emerge on January 3. The issue price is Rs. 36 per share. Its equity shares will be available for trading in the trade-for-trade segment.