Stock Radar: Tata Motors, Hero MotoCorp, Allied Blenders, IOL Chemicals, DCX Systems in Focus on Tuesday

Stocks in the News

Here’s a quick overview of the stocks that will be in the spotlight on Tuesday, highlighting significant monthly auto sales, major order wins, and key deals announced by companies after market hours on Monday:

Stocks To Watch

Tata Motors In June 2024, Tata Motors saw a decline in total domestic sales by 8% year-on-year (YoY) to 74,147 units. Commercial vehicle sales dropped by 7% to 31,980 units, and passenger vehicle sales decreased by 8% to 43,524 units. However, in the first quarter of FY25, total sales increased by 1.6% to 2,29,891 units compared to the same period last year.

Hero MotoCorp Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, sold 5,03,448 units in June 2024, marking a 15% increase from the same month last year. Domestic sales rose by 16% YoY to 4,91,416 units, while exports fell by 15.5% YoY to 12,032 units.

Maruti Suzuki India Maruti Suzuki India produced 133,095 vehicles in June 2024, a 2.94% decrease from the 137,133 vehicles produced in June 2023.

TVS Motor TVS Motor reported sales of 3,33,646 units in June 2024, a 5% increase from the 3,16,411 units sold in June 2023. Two-wheeler sales grew by 6% YoY to 322,168 units, and electric vehicle sales increased by 10% YoY to 15,859 units. However, total exports fell by 3.9% YoY to 76,074 units, and three-wheeler sales declined by 4.4% YoY to 11,478 units.

CSB Bank CSB Bank saw a 22.24% YoY growth in total deposits, reaching Rs 29,920 crore for the quarter ending June FY25. Gross advances also increased by 17.8% to Rs 25,099 crore.

South Indian Bank South Indian Bank’s gross advances for the June FY25 quarter grew by 11.35% YoY to Rs 82,510 crore. Total deposits increased by 8.41% to Rs 1.03 lakh crore, and CASA rose by 5.88% to Rs 32,998 crore.

Shoppers Stop Mohit Seth has been appointed as the Customer Care Associate & Chief of External Brands, effective July 1.

Welspun Specialty Solutions Welspun Specialty Solutions secured a contract worth Rs 117.17 crore to supply seamless stainless steel boiler tubes for NTPC’s Talcher 2 x 660 MW supercritical thermal power project, expected to be completed by December 2024.

Indian Bank Indian Bank decided to increase the marginal cost of funds-based lending rate (MCLR) by 5 basis points for one-month, six-month, and one-year tenures, effective July 3.

Carysil Carysil opened its qualified institutions placement (QIP) issue on July 1, with a floor price of Rs 837.89 per share.

Canara Bank Arun Nagappan has been appointed as the Chief Technology Officer of Canara Bank. He is currently the General Manager, heading the information technology wing at the Head Office in Bengaluru.

KPI Green Energy KPI Green Energy received approval from the Chief Electrical Inspector (CEIG) for its 13.60 MW solar power projects under the Independent Power Producer (IPP) segment. These projects will be added to its power generation asset portfolio through its subsidiary, Sun Drops Energia. Additionally, it received approvals for 15 MW of solar power projects under its Captive Power Producer (CPP) business segment.

Sakuma Exports Sakuma Exports received board approval to issue 4 bonus shares for every 1 equity share held. The board also approved raising up to Rs 500 crore via qualified institutions placement and investing up to Rs 600 crore in direct or step-down subsidiaries.

Patanjali Foods Patanjali Foods received board approval to acquire the entire non-food business from Patanjali Ayurved through a slump sale arrangement, subject to shareholder and lender approval.

IOL Chemicals and Pharmaceuticals China’s National Medical Products Administration (NMPA) approved IOL Chemicals’ product Fenofibrate, allowing the company to export this cholesterol and triglyceride-lowering API to the Chinese market.

Lupin Lupin completed the transfer of its trade generics business in India to its subsidiary, Lupin Life Sciences, on a slump sale basis.

DCX Systems DCX Systems secured a contract worth Rs 1,250 crore from Larsen & Toubro for the manufacturing and supply of electronic modules.

NMDC NMDC reduced lump ore prices by Rs 500 to Rs 5,950 per tonne and fines prices by Rs 500 to Rs 5,110 per tonne. In June 2024, total iron ore production fell by 3.16% YoY to 3.37 MT, and sales declined by 9% to 3.73 MT.

Mainboard Listing on July 2

• Allied Blenders and Distillers

SME Listing on July 2

• Petro Carbon and Chemicals
• Divine Power Energy
• Akiko Global Services

Bulk Deals

Religare Enterprises Société Générale acquired a 1.53% stake in Religare Enterprises at an average price of Rs 239 per share, while Plutus Wealth Management LLP sold a 2.15% stake at an average price of Rs 239.05 per share.

Nazara Technologies TIMF Holdings bought a 1.57% stake in Nazara Technologies at an average price of Rs 872 per share. Parijata Trading, Gyaana Retreat & Services, and Fashions Brands (India) sold a combined 2.35% stake at the same price.

EFC (I) Société Générale purchased a 0.7% stake in EFC (I) at an average price of Rs 565 per share, while Black Hawk Properties sold a 0.5% stake at the same price.

Stock Trades Ex-date for Buyback

• Bajaj Consumer Care

Stocks Turn Ex-dividend

• Quest Capital Markets
• Swastika Investmart
• Epigral

Stock Trades Ex-Bonus

• Oil India

F&O Ban

• India Cements
• Indus Towers