This Thursday, September 26, 2024, stocks to watch are: As markets in the Asia-Pacific region rose, Indian markets were expected to open higher on Thursday, following the lead from international markets.
GIFT Nifty futures, which were trading above 26,000 and about 50 points ahead of Nifty futures’ most recent close at 25,998, supported the trend.
The Chinese markets are anticipated to maintain their upward trend as the Asia-Pacific region’s markets recovered on Thursday morning. The SBI, Vedanta, HDFC Bank, Piramal Pharma, and Bank of India are interesting stocks to keep an eye on.
State Bank of India: According to C S Setty, chairman of the bank, SBI wants to become the first financial company in India to earn a profit of Rs 1 trillion in the next three to five years. The bank is concentrated on striking a balance between profit growth and customer-centric operations, as seen by its standalone net profit of Rs 61,077 crore in FY24, a gain of 21.59 percent year over year. It is expected that corporate clients will provide a strong Rs 4 trillion loan pipeline, with infrastructure sectors leading the way.
Vedanta: On October 8, the board of the business will convene to deliberate on the possibility of a fourth interim dividend for FY25. This financial year, the company has already announced a total dividend of Rs 13,474 crore, demonstrating impressive returns to shareholders. Over the following three years, Vedanta Resources intends to cut its debt by up to $3 billion.
Piramal Pharma: According to company chair Nandini Piramal, the pharmaceutical company hopes to triple its EBITDA and quadruple its revenue to $2 billion by FY30. By FY30, the company wants to keep its net debt to EBITDA ratio at 1x. It is anticipated that their CDMO segment will expand dramatically due to rising demand, particularly as a result of the possible effects of the US Biosecure Act.
HDFC Bank: According to a Macquarie research report, the bank’s loan growth may fall below 10% YoY in Q2FY25 as a result of portfolio management techniques. The bank’s primary goals include raising net interest margins and lowering its loan-to-deposit ratio. In a separate transaction, UBS Group purchased 30.72 lakh HDFC Bank shares at a price of Rs 1,768.05 each, for a total of nearly Rs 543 crore.
Bharti Airtel: To improve customer safety and maybe boost customer satisfaction and retention, the telecom provider is launching an AI-based solution to identify spam calls and messages.
Titan: SKINN Fragrances, the company’s fragrance business, has introduced a new, reasonably priced brand called 24Seven, aimed toward younger customers. By FY25, the company wants to have onboarded 2.5 million consumers.
Adani Enterprises: The potential growth opportunities in the aviation sector are signaled by Gautam Adani’s conversation with the CEO of Bombardier about strengthening India’s aviation capabilities, specifically in MRO services and defense.
SpiceJet: According to Chairman Ajay Singh, the airline plans to increase its fleet size to 100 aircraft by 2026. This statement comes after the airline raised Rs 3,000 crore through qualified institutional placement (QIP), a successful fundraising effort. Singh acknowledged that there had been substantial obstacles, such as the Boeing 737 Max grounding and the COVID-19 outbreak, but he was confident in the airline’s foundations.
Coromandel International: The company announced that it will borrow $6.5 million for expansion and buy an additional 8.82 percent of Senegal-based BMCC for $3.84 million, bringing its share in the company to 53.8%. The investment is essential because India mostly depends on
Shriram Finance: Using fixed-rate senior secured social USD notes with a 6.15 percent coupon, the company was able to successfully raise $500 million. With a 2.4x subscription, this is the company’s first USD bond issue in FY25 and demonstrates robust investor interest. The fund-raising proceeds will be allocated to sustainable income-generating areas, specifically MSME and auto financing.
Reliance Power: In order to go closer to becoming debt-free, Rosa Power, a Reliance Power subsidiary, has prepaid Rs 850 crore to Varde Partners. This program helps Reliance Power achieve its overarching goal of strengthening its balance sheet and moving toward renewable energy. By the end of the fiscal year, the company intends to pay off its remaining debts.
Bank of India: In the midst of strong demand that saw bids surpassing Rs 6,000 crore, the bank raised Rs 2,500 crore through tier-II bonds at a 7.49 per cent coupon rate. The bank intends to increase its capital adequacy ratio to 16 percent, and this issuance is a part of that plan. In the upcoming months, the bank intends to raise further capital through new tier-I bonds and infrastructure bonds.
Infosys: The business and Polestar have joined together to establish a technology base in Bengaluru with the goal of creating infotainment and sophisticated driver assistance systems software for electric vehicles.
Biocon: At the EADV Congress 2024, Biocon Biologics, a division of Biocon, presented encouraging Phase-III clinical research results for its biosimilars, ustekinumab and adalimumab. The research indicates
KPR Mill: SBI Mutual Fund paid more than Rs 900 crore to acquire a 2.85% interest in KPR Mill, increasing its ownership to 7.74 percent. Given that the promoters of KPR Mill decreased their ownership, the deal represents a strategic investment as the total promoter holding decreased.
