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| As on Dec 02, 2023 12:00 AM |
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| Tata Power has secured the bid to acquire Bikaner-III Neemrana-II Transmission, a project special purpose vehicle (SPV) established by PFC Consulting. This acquisition comes after Tata Power emerged as the successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, in line with the Union Ministry of Power's guidelines. The project, to be developed on a Build-Own-Operate-Transfer (BOOT) basis, aims to facilitate the transmission of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan through the establishment of a ~340 km transmission corridor from Bikaner-III pooling station to Neemrana II substation. Tata Power will operate and maintain the transmission project for 35 years, with an estimated cost of Rs 1,544 crore and an expected commissioning period of 24 months from the transfer of the project SPV. Once operational, this project will play a crucial role in the Ministry of Power's plan to integrate over 500 GW of renewable energy capacity into the national grid by 2030. Tata Power is a leading integrated power company and a part of Tata Group, India's largest multi-national business conglomerate. The company has a diversified portfolio of 14407 MW, spanning across the entire power value chain - from renewable and conventional energy generation to transmission & distribution, trading, storage solutions and solar cells and module manufacturing. The company reported 9% jump in consolidated net profit to Rs 1,017 crore in Q2 FY24 as compared with Rs 935 crore in Q2 FY23. Revenue from operations increased 9% YoY to Rs 15,442 crore during the quarter. Shares of Tata Power rose 2.91% to Rs 275.75 on 1 December 2023.
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Total two-wheelers sales grew by 34% to 352,103 units in November 2023 from 2,63,642 units sold in November 2022. Domestic two-wheeler sales climbed 50% to 2,87,017 units in November 2023 as against 191,730 units sold in the same period a year ago. Motorcycle registered a sales of 1,72,836 units in November 2023, rising 19% from 1,45,006 units sold in November 2022. Scooter sales of the company reported 135,749 units in November 2023 as compared to the sale of 83,679 units in November 2022, recording a growth of 62%. The company's total exports delclined 10.62% to 75,203 units in November 2023 as against 84,134 units in November 2022. Two-wheeler exports fell 9.49% to 65,086 units in November 2023 from 71,912 units sold in the similar period last year. In the three-wheeler segment, the sales of the company reduced by 10.04% to 12,128 units in November 2023 from 13,481 units in November 2022. In the electric vehicle segment, the company sold 16,782 units of TVS iQube Electric in November 2023, reporting a growth of 66.89% as against sales of 10,056 units sold in November 2022. TVS Motor Company is a reputed two and three-wheeler manufacturer globally. It has four manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. The company has recorded 32% growth in net profit to Rs 537 crore in Q2 FY24 from Rs 408 crore in Q2 FY23. During the quarter, the company?s operating revenue grew by 13% to Rs 8,145 crore as against Rs 7,219 crore in Q2 of last year. Shares of TVS Motor Company gained 1.98% to end at Rs 1,907.70 on the BSE.
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| The total domestic sales of Eicher trucks and buses increased 4.5% to 4,686 units while total exports jumped 27.8% to 303 units in November 2023 over November 2022. Total sales of Volvo trucks and buses jumped 12% to 205 units in November 2023 as compared with 183 units sold in November 2022. Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space. The automobile major's consolidated net profit surged 54.71% to Rs 1,016.25 crore in Q2 FY24 from Rs 656.86 crore posted in Q2 FY23. The company recorded its highest ever revenue from operations at Rs 4,114.53 crore in the second quarter of FY24, registering a growth of 16.91% YoY. The scrip fell 0.33% to Rs 3886 on the BSE.
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| Prashant Jain will continue to serve in his current position till 31 January, 2024, to support an orderly transition. Accordingly, Mahendra shall be the joint managing director & CEO and a key managerial person of the company with effect from 1 February, 2024. Sharad Mahendra has completed his B. E. in mechanical engineering from NIT, Allahabad and brings with him 33 years of rich experience in organizational strategy, driving business growth, execution, sales and marketing. Sharad Mahendra has worked with the JSW group for 15 years. Mahendra had joined JSW Energy as the chief operating officer (energy business) in 2017 where he led the power sales, mining, corporate commercial, legal, coal procurement, regulatory and corporate affairs functions. In 2019, he was appointed as a whole-time director of the company. In the past, Mahendra has been on the board of APL Apollo Tubes and has worked with Phillips Carbon Black, JSW Steel, Escorts, Yamaha Motors in various capacities. JSW Energy is amongst India's leading private sector power producing companies that believes in the efficient utilisation of all available resources. JSW Energy reported a consolidated net profit of Rs 850 crore in Q2 FY24, which is higher by 83% as compared with a PAT of Rs 466 crore recorded in Q2 FY23. Total revenue increased by 30% YoY to Rs 3,387 crore in the second quarter.
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The sales of domestic passenger vehicles stood at 134,158 units (up 1.33% YoY) while sales of light commercial vehicles came in at 2,509 units (down 5.68% YoY) during the period under review. While the company's total domestic sales (PV+LCV+OEM) grew by 1.57% to 1,41,489 units and exports grew by 16.27% to 22,950 units in November 2023 over November 2022. Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles). The auto major's standalone net profit zoomed 80.3% to Rs 3716.50 crore in Q2 FY24 as against Rs 2061.50 crore in Q2 FY23. Net sales rose 24.5% YoY to Rs 35,535.10 crore in the quarter ended 30 September 2023. The scrip rose 0.18% to Rs 10,623.15 on the BSE.
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Whirlpool of India Ltd, TVS Srichakra Ltd, General Insurance Corporation of India and Electrosteel Castings Ltd are among the other losers in the BSE's 'A' group today, 01 December 2023. New India Assurance Company Ltd crashed 9.87% to Rs 229.7 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 6.03 lakh shares were traded on the counter so far as against the average daily volumes of 4.87 lakh shares in the past one month. Whirlpool of India Ltd tumbled 9.56% to Rs 1418.55. The stock was the second biggest loser in 'A' group.On the BSE, 23122 shares were traded on the counter so far as against the average daily volumes of 2277 shares in the past one month. TVS Srichakra Ltd lost 5.69% to Rs 4556. The stock was the third biggest loser in 'A' group.On the BSE, 3348 shares were traded on the counter so far as against the average daily volumes of 3561 shares in the past one month. General Insurance Corporation of India slipped 4.45% to Rs 305. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.16 lakh shares were traded on the counter so far as against the average daily volumes of 2.02 lakh shares in the past one month. Electrosteel Castings Ltd fell 3.83% to Rs 112.55. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.37 lakh shares were traded on the counter so far as against the average daily volumes of 4.36 lakh shares in the past one month.
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Ivabradine is indicated to reduce the risk of hospitalization for worsening heart failure in adult patients with stable, symptomatic chronic heart failure with reduced left ventricular ejection fraction. It is also used in children aged 6 months and older for the treatment of stable symptomatic heart failure due to cardiomyopathy. The said drug is equivalent to reference listed drug, Corlanor tablets. The drug will be manufactured at the group?s formulation manufacturing facility at Ahmedabad SEZ, India. Zydus stated that it was one of the first ANDA applicants to submit a substantially complete ANDA with a paragraph IV certification for Ivabradine tablets and therefore may be eligible for 180 days of shared generic exclusivity for the same. Zydus Lifesciences is a discovery-driven, global lifesciences company that discovers, develops, manufactures, and markets a broad range of healthcare therapies. The company consolidated net profit surged 53.2% to Rs 800.7 crore in Q2 FY24 as compared with Rs 522.5 crore posted in Q2 FY23. Revenue from operations rose 9.1% YoY to Rs 4,368.8 crore during the quarter ended 30 September 2023. The scrip rose 0.31% to currently trade at Rs 639.85 on the BSE.
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Gandhar Oil Refinery (India) Ltd, SML ISUZU Ltd, B&B Triplewall Containers Ltd and Ganesh Benzoplast Ltd are among the other losers in the BSE's 'B' group today, 01 December 2023. Tata Technologies Ltd lost 6.94% to Rs 1223.05 at 14:33 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 20.72 lakh shares were traded on the counter so far as against the average daily volumes of 28.48 lakh shares in the past one month. Gandhar Oil Refinery (India) Ltd crashed 6.73% to Rs 281.2. The stock was the second biggest loser in 'B' group.On the BSE, 11.02 lakh shares were traded on the counter so far as against the average daily volumes of 29.06 lakh shares in the past one month. SML ISUZU Ltd tumbled 6.61% to Rs 1422.5. The stock was the third biggest loser in 'B' group.On the BSE, 12066 shares were traded on the counter so far as against the average daily volumes of 5673 shares in the past one month. B&B Triplewall Containers Ltd corrected 5.62% to Rs 277.1. The stock was the fourth biggest loser in 'B' group.On the BSE, 24947 shares were traded on the counter so far as against the average daily volumes of 1248 shares in the past one month. Ganesh Benzoplast Ltd dropped 5.02% to Rs 161.6. The stock was the fifth biggest loser in 'B' group.On the BSE, 21888 shares were traded on the counter so far as against the average daily volumes of 27623 shares in the past one month.
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TV18 Broadcast Ltd, G R Infraprojects Ltd, Rossari Biotech Ltd, Delta Corp Ltd are among the other stocks to see a surge in volumes on NSE today, 01 December 2023. Whirlpool of India Ltd recorded volume of 6.77 lakh shares by 14:14 IST on NSE, a 24.07 times surge over two-week average daily volume of 28106 shares. The stock lost 8.95% to Rs.1,430.60. Volumes stood at 27434 shares in the last session. TV18 Broadcast Ltd witnessed volume of 964.25 lakh shares by 14:14 IST on NSE, a 11.87 times surge over two-week average daily volume of 81.26 lakh shares. The stock increased 11.25% to Rs.47.95. Volumes stood at 129.01 lakh shares in the last session. G R Infraprojects Ltd recorded volume of 5.2 lakh shares by 14:14 IST on NSE, a 10.85 times surge over two-week average daily volume of 47917 shares. The stock gained 1.08% to Rs.1,047.15. Volumes stood at 95045 shares in the last session. Rossari Biotech Ltd recorded volume of 7.54 lakh shares by 14:14 IST on NSE, a 10.11 times surge over two-week average daily volume of 74602 shares. The stock gained 5.63% to Rs.763.00. Volumes stood at 1.66 lakh shares in the last session. Delta Corp Ltd saw volume of 304.78 lakh shares by 14:14 IST on NSE, a 9.13 fold spurt over two-week average daily volume of 33.38 lakh shares. The stock increased 4.20% to Rs.147.60. Volumes stood at 91.37 lakh shares in the last session.
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| The company's total medium & heavy commercial vehicles (M&HCV) sales declined 10% YoY to 8,500 units in November 2023 and light commercial vehicles (LCV) sales rose 9% to 5,553 units in last month. The company's domestic sales of commercial vehicles in November 2023 aggregated to 13,031 units, lower by 5% compared with same period last year. Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings. Ashok Leyland reported net profit of Rs 561.01 crore in Q2 FY24, steeply higher from Rs 199.31 crore posted in corresponding quarter last year. Revenue from operations jumped 16.6% year on year to Rs 9,638.04 crore in Q2 FY24.
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Among the components of the S&P BSE IT Sector index, 3i Infotech Ltd (down 1.92%), Wipro Ltd (down 1.43%),Newgen Software Technologies Ltd (down 1.27%),Nucleus Software Exports Ltd (down 1.1%),Sasken Technologies Ltd (down 0.84%), were the top losers. Among the other losers were Coforge Ltd (down 0.75%), Quick Heal Technologies Ltd (down 0.72%), Cigniti Technologies Ltd (down 0.65%), Moschip Technologies Ltd (down 0.55%), and KPIT Technologies Ltd (down 0.53%). On the other hand, Datamatics Global Services Ltd (up 17.78%), 63 Moons Technologies Ltd (up 4.52%), and Cyient Ltd (up 3.63%) turned up. At 13:48 IST, the S&P BSE Sensex was up 499.74 or 0.75% at 67488.18. The Nifty 50 index was up 141.95 points or 0.71% at 20275.1. The S&P BSE Small-Cap index was up 284.97 points or 0.71% at 40656.58. The S&P BSE 150 Midcap Index index was up 112.17 points or 0.94% at 12029.48. On BSE,2255 shares were trading in green, 1431 were trading in red and 138 were unchanged.
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Among the components of the S&P BSE Telecommunication index, Tata Communications Ltd (up 2.42%), Vindhya Telelinks Ltd (up 2.06%), Tata Teleservices (Maharashtra) Ltd (up 1.82%), Railtel Corporation of India Ltd (up 1.77%), Route Mobile Ltd (up 0.8%), and Bharti Airtel Ltd (up 0.45%), were the top losers. On the other hand, Optiemus Infracom Ltd (up 7.33%), Mahanagar Telephone Nigam Ltd (up 4.54%), and Tejas Networks Ltd (up 2.44%) turned up. At 13:48 IST, the S&P BSE Sensex was up 499.74 or 0.75% at 67488.18. The Nifty 50 index was up 141.95 points or 0.71% at 20275.1. The S&P BSE Small-Cap index was up 284.97 points or 0.71% at 40656.58. The S&P BSE 150 Midcap Index index was up 112.17 points or 0.94% at 12029.48. On BSE,2255 shares were trading in green, 1431 were trading in red and 138 were unchanged.
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The company's total domestic sales declined by 1% to 72,647 units sold in November 2023 as against 73,467 units sold in the same period last year. Total commercial vehicles sales was at 28,029 units in November 2023, recording a de-growth of 4% from 29,053 units in November 2022. Total sales for medium and heavy intermediate commercial vehicles (MH & ICV) domestic & international business in November 2023, including trucks and buses, stood at 12,895 units, up 1.75%.compared to 12,673 units in November 2022. Domestic sale of MH&ICV grew by 3.42% to 12,303 units from 11,896 units sold in November 2022. Total passenger vehicles sales (including EV) shed 1% to 46,143 units in November 2023 as compared to 46,425 units sold in the same period last year. Tata Motors, part of the Tata group, is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses. The auto major reported a consolidated net profit of Rs 3,764 crore in Q2 FY24 as against a net loss of Rs 944.61 crore recorded in Q2 FY23. Total revenue from operations stood at Rs 1,05,128.24 crore in the quarter ended 30 September 2023, rising 32.05% YoY. The scrip shed 0.21% to Rs 704.80 on the BSE.
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Torrent Pharmaceuticals Ltd rose for a third straight session today. The stock is quoting at Rs 2149.5, up 1.08% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 20276.75. The Sensex is at 67486.34, up 0.74%. Torrent Pharmaceuticals Ltd has added around 11.52% in last one month. Meanwhile, Nifty Pharma index of which Torrent Pharmaceuticals Ltd is a constituent, has added around 9.75% in last one month and is currently quoting at 16238.9, up 0.25% on the day. The volume in the stock stood at 1.5 lakh shares today, compared to the daily average of 2.57 lakh shares in last one month. The benchmark December futures contract for the stock is quoting at Rs 2161, up 1.1% on the day. Torrent Pharmaceuticals Ltd is up 32.6% in last one year as compared to a 8.45% gain in NIFTY and a 24.4% gain in the Nifty Pharma index. The PE of the stock is 65.28 based on TTM earnings ending September 23.
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Biocon Ltd is up for a third straight session today. The stock is quoting at Rs 241.25, up 1.24% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 20276.75. The Sensex is at 67486.34, up 0.74%. Biocon Ltd has gained around 8.79% in last one month. Meanwhile, Nifty Pharma index of which Biocon Ltd is a constituent, has gained around 9.75% in last one month and is currently quoting at 16238.9, up 0.25% on the day. The volume in the stock stood at 22.54 lakh shares today, compared to the daily average of 30.68 lakh shares in last one month. The benchmark December futures contract for the stock is quoting at Rs 242.6, up 1% on the day. Biocon Ltd is down 14.92% in last one year as compared to a 8.45% jump in NIFTY and a 24.4% jump in the Nifty Pharma index. The PE of the stock is 476.9 based on TTM earnings ending September 23.
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Ratnamani Metals & Tubes Ltd is up for a third straight session today. The stock is quoting at Rs 3826.4, up 2.6% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 20276.75. The Sensex is at 67486.34, up 0.74%. Ratnamani Metals & Tubes Ltd has gained around 35.42% in last one month. Meanwhile, Nifty Metal index of which Ratnamani Metals & Tubes Ltd is a constituent, has gained around 9.01% in last one month and is currently quoting at 7017.45, up 0.18% on the day. The volume in the stock stood at 33217 shares today, compared to the daily average of 81271 shares in last one month. The PE of the stock is 41.13 based on TTM earnings ending September 23.
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Network 18 Media & Investments Ltd rose for a third straight session today. The stock is quoting at Rs 92.2, up 6.53% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 20276.75. The Sensex is at 67486.34, up 0.74%. Network 18 Media & Investments Ltd has added around 36.39% in last one month. Meanwhile, Nifty Media index of which Network 18 Media & Investments Ltd is a constituent, has added around 5.81% in last one month and is currently quoting at 2296.55, up 3.02% on the day. The volume in the stock stood at 195.02 lakh shares today, compared to the daily average of 60.68 lakh shares in last one month. The PE of the stock is 0 based on TTM earnings ending September 23.
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TV18 Broadcast Ltd gained for a third straight session today. The stock is quoting at Rs 47.85, up 11.02% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 20276.75. The Sensex is at 67486.34, up 0.74%. TV18 Broadcast Ltd has risen around 14.61% in last one month. Meanwhile, Nifty Media index of which TV18 Broadcast Ltd is a constituent, has risen around 5.81% in last one month and is currently quoting at 2296.55, up 3.02% on the day. The volume in the stock stood at 740.7 lakh shares today, compared to the daily average of 90.4 lakh shares in last one month. The PE of the stock is 159.7 based on TTM earnings ending September 23.
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Hindustan Unilever Ltd is up for a third straight session today. The stock is quoting at Rs 2575.75, up 1.19% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 20276.75. The Sensex is at 67486.34, up 0.74%. Hindustan Unilever Ltd has gained around 3.58% in last one month. Meanwhile, Nifty FMCG index of which Hindustan Unilever Ltd is a constituent, has gained around 4.2% in last one month and is currently quoting at 53013.8, up 1.4% on the day. The volume in the stock stood at 5.73 lakh shares today, compared to the daily average of 12.6 lakh shares in last one month. The benchmark December futures contract for the stock is quoting at Rs 2589.65, up 1.14% on the day. Hindustan Unilever Ltd is down 1.5% in last one year as compared to a 8.45% jump in NIFTY and a 19.05% jump in the Nifty FMCG index. The PE of the stock is 58.13 based on TTM earnings ending September 23.
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Emami Ltd gained for a third straight session today. The stock is quoting at Rs 516, up 1.95% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.71% on the day, quoting at 20276.75. The Sensex is at 67486.34, up 0.74%. Emami Ltd has risen around 0.94% in last one month. Meanwhile, Nifty FMCG index of which Emami Ltd is a constituent, has risen around 4.2% in last one month and is currently quoting at 53013.8, up 1.4% on the day. The volume in the stock stood at 3.82 lakh shares today, compared to the daily average of 4.03 lakh shares in last one month. The PE of the stock is 35.67 based on TTM earnings ending September 23.
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