Automobile stocks: A host of companies from automobile space such as Tata Motors, Maruti Suzuki, M&M, Ashok Leyland, Escorts, Eicher Motors, Bajaj Auto, TVS Motor, Hero MotoCorp and others will start declaring their monthly sales figures of October. Analysts expect a robust sales figures, due to festive season. Shares will react accordingly to their individual sales numbers.
Indian govt increased windfall tax on crude oil to Rs 9,800 per ton from Rs 9,050 per ton. At the same time, the windfall tax on aviation turbine fuel was reduced to zero and cut the windfall tax on diesel to Rs 2 per liter from Rs 4 per liter. Shares such as ONGC, Oil India, Mahanagar Gas, IGL, Gujarat Gas and OMCs such as OIC, HPCL and BPCL will remain in focus.
State Bank of India said that Sureddi Srinivasa Rao, Deputy Managing Director & Chief Risk Officer will be superannuating from the services of the Bank from October 31 and Rama Mohan Rao Amara has been entrusted with new responsibility as ‘Deputy Managing Director & Chief Risk Officer’ and will assume charge from November 1.
JSW Energy on Tuesday said its Joint Managing Director & CEO Prashant Jain has resigned from the posts to take early retirement from active professional life. “Prashant Jain has expressed his intention to take early retirement from active professional life to pursue his personal interests and accordingly step down from the position of Joint Managing Director & CEO and as a Key Managerial Person of the company,” according to a BSE filing.
Tata Consumer said the board has approved merger of three subsidiaries - NourishCo Beverages, Tata SmartFoodz and Tata Consumer Soulfull Private -with self.
SBI Card & Reliance Retail have come together to roll out Reliance SBI Card. Cardholders will benefit from Reliance Retail’s extensive presence and large portfolio of brands.
Adani Logistics Ltd, subsidiary of Adani Ports & SEZ, has acquired a 50 per cent stake in Veracity Supply Chain Private Ltd (VSCPL). VSCPL, which was incorporated on Tuesday, has an authorised and paid-up share capital of ₹10 lakh.
Larsen & Toubro has approved investing Rs 830 crore to set up a wholly owned subsidiary that will be engaged in the business of fabless semiconductor chip design and product ownership. The subsidiary would be focusing only on chip design and not on manufacturing.
Lupin Limited has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (U.S. FDA) for its Mandideep Unit-2 manufacturing facility. The EIR was issued post the last inspection of the facility conducted from August 7 to August 11, 2023. The inspection closed with the facility receiving an inspection classification of “No Action Indicated”.
The Board of Directors of Rashtriya Chemicals and Fertilisers has approved for Equity Investment in Talcher Fertilizers Limited, a Joint venture company, from original approval of Investment Rs1,184.20 crore to revised requirement of Rs 2,169.67crore, subject to grant of Cabinet Committee of Economic Affairs (CCEA) Approval.
Zaggle Prepaid Ocean Services Limited has entered into a co-brand agreement with Kotak Mahindra Bank Limited. Through this strategic collaboration, corporates will have access to a unified offering comprising a suite of financial products, including Kotak’s payroll banking services, such as salary accounts and co-branded prepaid cards, seamlessly integrated with Zaggle’s market-leading SaaS solutions, specifically designed for employee flexi-benefits (Zaggle SAVE) and travel and expense management (Zaggle EMS). This integration will enable working professionals to boost their incomes by up to 7 per cent through flexible benefits designed to facilitate tax savings, giving complete visibility and greater control over their pay, flexi-benefits, advances, reimbursements, and spending, accessible through a single mobile app. Zaggle has also entered into an agreement with Toshiba Software (India) Private Limited. While the contract duration is 36 months , it will receive Per Active user Per month Subscription fee of Rs 149 (1200 users)
Results Calendar: Aban Offshore, Ajmera Realty, Ambuja Cements, Adani Wilmar, Arvind Smartspaces, Bajaj Finance, Birla Cable, Bliss GVS, Britannia Industries, Cera Sanitaryware, Divgi Torqtransfers, Emami Paper, Elpro International, Fino Payments Bank, Godrej Consumer Products, Gandhi Special Tubes, GMDC, Gravity, Green Panel, Hero MotoCorp, Indraprastha Gas, IFL, India Cements, JK Tyre & Industries, Jindal Drill, Kansai Nerolac Paints, KEC International, LIC Housing Finance, Motilal Oswal Financial Services, Maharashtra Seamless, Nilkamal, Plaza Wires, REC, Relax Footwears, Reliance Home Finance, Satin Creditcare, Sun Pharmaceutical Industries, Syrma, Tata Steel, Thomas Cook, Triveni Turbine,TV Today, Unichem Laboratories, Yash Chem and Zim Lab.