2024-06-03 06:25:45
Stocks to watch-
Adani Ports and Special Economic Zone: Adani International Ports Holdings Pte Ltd (AIPH), a subsidiary of Adani Ports and Special Economic Zone Ltd (APSEZ), has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.
Cochin Shipyard: Udupi Cochin Shipyard, a subsidiary of Cochin Shipyard, has won an order from Ocean Sparkle Limited, an Indian tug operator under Adani Harbour Services, for the construction of three Azimuth Stern Drive (ASD) Tugs of 70 T bollard pull power.
Deepak Nitrite: The company announced that its subsidiary, Deepak Chem Tech Ltd, will acquire a 100% stake in Narmada Thermal Power Private Ltd for a cash consideration of ₹61.65 crore. The acquisition is expected to be completed by June 30.
Tata Steel: The company faces industrial action from around 1,500 employees based at Port Talbot and Newport Llanwern in Wales. The steelworkers' union, Unite the Union, announced plans to proceed with the industrial action in protest against Tata Steel's job cuts associated with the closure of old blast furnaces.
Maruti Suzuki India: The company's total sales dipped by 2% to 1.74 lakh units in May, while domestic sales rose by 3.7% to 1.57 lakh units. Domestic passenger vehicle sales saw a marginal increase of 0.2%. Exports dropped significantly by 34.4%, but total production increased by 7.2%. Maruti also reduced prices of its auto gear shift variants by ₹5,000 per unit effective from June 1.
Mahindra and Mahindra: The company's total sales volumes grew by 16.7% to 71,682 units in May. Passenger vehicle sales saw a significant increase of 31%, and tractor sales increased by 9%. Tractor exports saw a massive growth of 85%.
Hero MotoCorp: The company's sales volume fell by 4.1% to 4.98 lakh units in May, with domestic sales declining by 5.7%. However, exports saw a significant growth of 67.3%.
Eicher Motors: Royal Enfield sales were down by 8%, but International Business (Royal Enfield) sales grew by 12%. Total VECV sales were up by 9.7% in May.
Praj Industries: The company reported a 4.3% YoY increase in net profit at 91.9 crore for Q4FY24. The company's revenue from operations increased 1.5% to 1,018.6 crore. EBITDA rose 20.9% to 130.8 crore, with an EBITDA margin of 12.8%. The company's order intake during the quarter was 924 crore, with a consolidated order backlog of ₹3,528 crore as of March 31, 2024.
NMDC: The company reported a 37% YoY decrease in total iron ore production to 2.34 million tonnes in May 2024, with iron ore sales dropping 22% YoY to 2.82 million tonnes.
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