Stocks to Watch: Marico, Bandhan Bank, Vedanta, Hero MotoCorp, PNB, RBL Bank, and Others – News18

Stocks To Watch On October 5: GIFT Nifty on the NSE IX traded 3 points, or 0.02 per cent, higher at 19,486, signaling that Dalal Street was headed for muted start on Thursday. Here’s a slew of stocks that will be in focus today for various reasons.

Bandhan Bank: Bandhan Bank’s advances grew 12 per cent year-on-year to Rs 1.08 lakh crore while its loan collection efficiency remained stable at 98 per cent at the end of the September quarter.

Marico: Rising food prices and below-normal rainfall distribution in some regions seemed to impede the anticipated recovery in rural demand in Q2-FY24. Consumption trends, particularly in rural areas, however, are expected to improve in H2, the company said in its quarterly business update. Domestic volumes grew in low-single digits on a year-on-year basis in Q2, while International business delivered double-digit constant currency growth.

Defence stocks: The government, on Wednesday, released the fifth Positive Indigenisation List (PIL) of 98 items which will be procured by the three armed services from indigenous suppliers in a staggered manner.

Bajaj Finance: The Board will meet today to consider fund raise.

Vedanta: Vedanta Resources Ltd.’s talks with lenders for a $1 billion private credit loan have been complicated by its plan to separate its Indian subsidiary into six units, Bloomberg reported.

Oil-linked stocks: Oil exploration linked stocks could see some pressure, while oil marketing companies may see gains on Thursday as Brent crude oil has slipped to $86 per barrel.

Jubilant FoodWorks: The company clarified that it has not reduced the prices of large pizzas.

Hero MotoCorp: Hero MotoCorp has received 13,688 bookings for its newly launched flagship motorcycle, Karizma XMR. Customer deliveries will begin in the festive period this month.

Sheela Foam: The company has received a show cause-cum-demand notice from the GST Intelligence department, Greater Noida, alleging a tax demand of Rs 20.26 crore, in addition wIth an equivalent penalty of Rs 20.26 crore. The company will be filing appropriate responses.

Maruti Suzuki: A Show Cause Notice (SCN) has been issued by Gujarat GST Department for the period July, 2017 to March, 2018, demanding Rs 1.78 crore.

RBL Bank: The lender’s total deposits grew 13 per cent YoY/5 per cent QoQ to Rs 89,774 crore at the end of Q2-FY24. Gross advances, meanwhile, were up 21 per cent YoY/5 per cent QoQ to Rs 78,186 crore.

Strides Pharma: Its subsidiary Strides Pharma Global Pte Ltd has received approval from the United States Food and Drug Administration for efavirenz, emtricitabine and tenofovir disoproxil fumurate tablets.

L&T Finance Holdings: Retail disbursements for Q2-FY24 is estimated at Rs 13,490 crore, clocking a growth of 32 per cent YoY basis.

Punjab National Bank: Total deposits for the bank increased 9.7 per cent YoY in Q2-FY24 to Rs 13.08 trillion. Domestic and global advances, too, improved around 14 per cent each YoY.

JM Financial: CFO Manish Sheth stepped down with effect from September 30, 2023.

Suryoday SFB: Its gross advances increased 29 per cent YoY to Rs 6,921 crore in Q2-FY24, while deposits rose 52 per cent YoY to Rs 6,388 crore.

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