Buzzing Stocks: Tata Motors, Gland Pharma, Axis Bank, Dilip Buildcon, Sula Vineyards, South Indian Bank & others

Tata Motors: Jaguar Land Rover (JLR) reported over 20 percent year-on-year growth in its full-year sales on improved production and sustained global demand. Wholesale volumes of 1.1 lakh units in Q4 FY24 (excluding the China JV) were up 16 percent compared to the same quarter a year ago, and the same in FY24 increased 25 percent YoY to 4.01 lakh units. Retail sales for the fourth quarter were 1.14 lakh units (including the China JV), up 11 percent compared to the year-ago quarter, and in the full year, retail sales grew by 22 percent YoY to 4.31 lakh units.

Sula Vineyards: The country’s largest wine maker has recorded 10 percent growth in net revenue for Q4 as well as FY24. Net revenue for the March FY24 quarter stood at Rs 131.8 crore against Rs 120 crore in the same period last year, while full-year revenue came in at Rs 608.6 crore against Rs 553.4 crore in the previous year.

Axis Bank: Bain Capital is all set to make a complete exit from the private sector lender as the US private equity major looks to dilute its balance stake and launch a fresh block deal of around $430 million, three people in the know told Moneycontrol. The offer price range is Rs 1,071–Rs 1,076.05 per share.

Gland Pharma: Two entities, namely Nicomac Machinery and RP Advisory Services, which are connected to Dr. Ravi Penmetsa, the former promoter of Gland Pharma, have launched a block deal of around $150 million with an upsize option to sell a part stake in the drugmaker, three people in the know of the development told Moneycontrol. The floor price for the block deal has been fixed at Rs 1,725 per share, which is a 7.2 percent discount to the closing price of Rs 1,859.6 per share on April 8.

Dilip Buildcon: The infrastructure company has been declared the L-1 bidder for the project worth Rs 1,092.46 crore by the Haryana Rail Infrastructure Development Corporation in EPC mode in Haryana.

Shilpa Medicare: The pharma company has opened its qualified institutions placement (QIP) issue on April 8, with a floor price of Rs 477.33 per share. Further, the board of directors of the company will be meeting on or after April 12 to consider the issue price for the QIP issue.

UCO Bank: The bank has reported total business at Rs 4.50 lakh crore for the quarter ended March FY24, growing 9.62 percent over the same period last fiscal, with total advances increasing 15.92 percent YoY to Rs 1.87 lakh crore and deposits rising 5.53 percent to Rs 2.63 lakh crore during the same period.

HG Infra Engineering: The company has incorporated a wholly owned subsidiary, H G Chennai-Tirupati (II) Highway, as a special purpose vehicle (SPV) to undertake the highway project worth Rs 862.11 crore awarded by the National Highways Authority of India (NHAI) in Andhra Pradesh in Hybrid Annuity Mode.

RBL Bank: Foreign investor Citigroup Global Markets Mauritius has bought 66.97 lakh equity shares (equivalent to 1.11 percent of total paid-up equity) in the private sector lender at an average price of Rs 255.4 per share via open market transactions, amounting to Rs 171.04 crore. Copthall Mauritius Investment was the seller in the deal.

NCL Industries: The company said cement production grew by 4 percent year-on-year to 7.30 lakh MT, and cement dispatches rose by 4 percent to 7.39 lakh MT for the quarter ended March FY24. Cement board production increased by 17 percent to 21,976 MT, and dispatches were up 5 percent to 21,651 MT during the same period.

South Indian Bank: Foreign investor Citigroup Global Markets Mauritius has purchased 1,76,68,000 equity shares (0.67 percent of paid-up equity) in the bank at an average price of Rs 28.78 per share, which amounted to Rs 50.85 crore. Copthall Mauritius Investment was the seller in the deal.

Sadbhav Engineering: Dwigesh B. Joshi has resigned from the position of Executive Director and Chief Financial Officer (CFO) of the company with effect from April 8, due to personal reasons and health conditions.

Jana Small Finance Bank: Rajesh Rao has resigned from the position of Chief Operating Officer of the bank to pursue a part-time PhD program at XLRI, Amshedpur. His last working day with the bank will be July 5, 2024.

Creative Graphics Solutions India: The company will list its equity shares on the NSE Emerge on April 9. The issue price is Rs. 85 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Dixon Technologies (India): The company has entered into a share purchase agreement with Ismartu Singapore, Transsion Technology, 5A Advisors LLP, and Ismartu India for the acquisition of a 50.1 percent stake in Ismartu India, the electronics and mobile device manufacturer. The transaction will be subject to the approval of the Competition Commission of India.

Edelweiss Financial Services: The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of Rs 20 lakh on Edelweiss Tokio Life Insurance Company, a subsidiary of the company, for a change in its shareholding pattern without their prior approval.

Sterlite Technologies: The company opened its qualified institution placement (QIP) issue on April 8. The floor price for the issue has been fixed at Rs 119 per share. Further, the board of directors of the company will be meeting on April 12 to approve the issue price for QIP.

Deep Industries: The company has incorporated its wholly-owned subsidiary SAAR International FZ-LLC in Ras Al Khaimah Economic Zone, UAE.

Aluwind Architectural: The trading in equity shares of the company will commence on the NSE Emerge with effect from April 9. The issue price is Rs. 45 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.