Top 10 Stocks to watch Today Axis Bank: Over six years after | ACEink Official

Top 10 Stocks to watch Today

Axis Bank: Over six years after its entry into Axis Bank, US private equity giant Bain Capital is preparing for a full exit from the private sector lender. The firm plans to dilute its remaining stake and initiate a new block deal worth approximately $430 million, according to three informed sources. Entities associated with Bain Capital have launched the block deal, which is intended to be a clean-up trade, signifying Bain Capital's complete exit, one of the sources mentioned.

Tata Motors: On April 8, Tata Motors said that the retail sales of Jaguar Land Rover had risen by 11% YoY to 114,038 units in the fourth quarter of FY24, a surge attributed to increased production and consistent global demand. The company's exchange filing revealed that compared to the previous year, retail sales during the quarter increased by 32% in the UK, 21% in North America, and 16% overseas. However, sales in China decreased by 9%, and in Europe, it fell by 2%.

Gland Pharma: Two companies, Nicomac Machinery and RP Advisory Services, linked to Dr. Ravi Penmetsa, the ex-promoter of Gland Pharma, have initiated a block deal to sell a portion of their stake in the pharmaceutical company. The deal is valued at approximately $150 million, with an option to increase, according to three individuals familiar with the matter.

Prestige Group: In FY24, Prestige Group set an industry record by achieving home sales worth ₹21,040 crore, amidst a housing boom in India. The Bengaluru-based company announced on Monday that its sales in FY24 represented a 63% YoY increase, up from ₹12,931 crore in FY23. The achievement of over ₹20,000 crore in sales sets a new standard not just for Prestige Group, but for the entire real estate sector.

Dilip Buildcon: The company disclosed on Monday that it has been awarded a contract from the Haryana Rail Infrastructure Development Corporation Limited, involving the construction of railway lines in Haryana. The contract, valued at ₹1,092.46 crore, encompasses the design and construction of a 21.14 km railway line stretching from Prithla to Dhulawat in Haryana.

Lupin: Pharmaceutical company Lupin announced on Monday that it has secured approval from the US Food and Drug Administration (USFDA) to sell a generic drug designed to treat involuntary movements resulting from tardive dyskinesia. The firm stated that it has been authorized to market Valbenazine Capsules in dosages of 40 mg and 80 mg.

RBL Bank: Citigroup Global Markets Mauritius, a foreign investor, has acquired 66.97 lakh equity shares in RBL Bank. This purchase, made through open market transactions, represents 1.11 percent of the bank's total paid-up equity. The average price per share was ₹255.4, bringing the total transaction value to ₹171.04 crore.

Sula Vineyards: The wine producer announced on April 8 that it had achieved record-breaking revenue in both the March quarter and the FY24, with a YoY growth of 10% in each case, according to an exchange filing. The company's premium brands also saw robust performance, registering a 15% YoY growth in both the reported quarter and year.

Jana Small Finance Bank: On Monday, April 8, Jana Small Finance Bank announced the resignation of its Chief Operating Officer, Rajesh Rao, which will take effect from July 5, 2024. Rao, a Senior Management Personnel of the bank, submitted his resignation on April 8, 2024, expressing his intent to enroll in a part-time PhD program at XLRI, Jamshedpur.

Shilpa Medicare: The company's board has given the green light for the Qualified Institutional Placement (QIP) of the company's equity shares to raise up to ₹500 crore. The floor price for the QIP has been established at ₹477.33 per share, while the issue would opened on April 8.
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