Staying vigilant about stock movements can safeguard your investments. Here, we highlight stocks making headlines today and the market’s keen interest in them.
Vedanta Appoints Ajay Goyal as CFO Vedanta witnessed the resignation of Sonal Srivastava from the CFO position, reappointing Ajay Goyal. Ajay Goyal had previously joined Byju’s after his departure from Vedanta in April.
Crude Oil Prices in Focus Crude oil prices have steadily declined for the fourth consecutive day. Brent crude now stands at $88 per barrel, while WTI dropped below $84. The drop is attributed to concerns over weakened energy demand due to poor economic data from Germany and Europe.
Regulatory Actions and Financial Updates
Delta Corp: The Bombay High Court has directed DG GST Hyderabad to Goa Bench, postponing the issuance of a final order on the tax notice. Delta Corp and its subsidiaries face a total tax notice of Rs 23,000 crore.
Rice Exports: India is considering reducing the Minimum Export Price (MEP) of Basmati rice from $1,200/MT to $950/MT, responding to complaints from farmers and exporters.
Maharashtra’s Beer Tax Review: The Maharashtra government has formed a committee to review beer tax structures to boost beer sales revenue.
Financial Results: Torrent Pharma reported a 16% YoY increase in income to Rs 2,660 crore in the September quarter, with profit also rising by 16% to Rs 363 crore. The company aims to achieve sales guidance of $30-35 million in the US market. Lupine secured US FDA approval for the Fluconazole drug, anticipated to be produced in the Pithampur plant. Avenue Supermart opened a new store in Andhra Pradesh, expanding its total store count to 337.
Mahindra Logistics: The company reported a loss of Rs 16 crore in the second quarter, with income increasing by 2.9% YoY to Rs 1,364.8 crore. EBITDA increased by 20.7% to Rs 53.6 crore.
PNB Housing: In the September quarter, the company recorded a 45.9% YoY profit increase to Rs 383 crore, with a 5.5% YoY income rise to Rs 1,777.8 crore. The GNPA ratio was 1.78%, and NNPA ratio was 1.19%. Disbursements in the second quarter rose by 16.3% to Rs 4,180 crore, with AUM increasing by 2.6% to Rs 67,415 crore.
Sonata Software: A board meeting is expected to discuss the possibility of bonus share issuance today.