Tata Capital to list on NSE and BSE today. The grey market premium suggests a lacklustre debut for India’s largest IPO
Indian equity markets are set for a cautious opening on Monday, with the Gift Nifty, an early indicator for the Nifty 50 index, climbing 0.4% higher.
The escalating trade tensions between US and China weighed on global market sentiment with all major Asian markets were down on Monday, with the bourses in Hong Kong and Thailand falling more than 2% each.
At the time of writing, the gold spot price gained 1.6% to reclaim the key $4,000 mark. It was trading at $4,049.57 per ounce. Brent crude traded up 1.6% at $63.74 per barrel.
Stock Watch
Lupin: The USFDA completed a pre-approval inspection at its Somerset, New Jersey plant with one observation.
Kotak Mahindra Bank: Sonata Finance has merged with BSS Microfinance and ceased to be a subsidiary of Kotak Bank, effective October 11.
Tata Motors: Last day to buy consolidated stock ahead of demerger on October 14.
Mahindra Lifespace Developers: Selected for a ₹800 crore redevelopment project in Mumbai’s Malad and acquired 13.46 acres in Pune with a ₹3,500 crore potential.
Hindustan Construction Company: Won a ₹204 crore order from Hindalco for fabrication and erection work at its Aditya Aluminium expansion in Odisha.
Sanofi Consumer Healthcare India: CFO Narahari Naidu resigned.
Travel Food Services: Subsidiary TFS Gurgaon Airport Services signed a license agreement with Delhi Airport to manage F&B outlets at Terminal 2.
Mankind Pharma: Entered a ₹797 crore slump sale deal with Bharat Serums and Vaccines to acquire its women’s health Rx portfolio.
NTPC Green Energy: Signed an MoU with Japan’s ENEOS Corporation to supply green methanol and hydrogen-based products.
Allied Blenders and Distillers: Appointed Jayant Bhalchandra Manmadkar as Chief Financial Officer effective October 10.
Infosys: Launched the Infosys Customer Experience Suite for Salesforce to enhance enterprise digital transformation and Agentforce solutions.
Zen Technologies: Secured a ₹37 crore defence order for anti-drone systems with Hard Kill capability.
Asian Paints: Subsidiary Asian White Inc. FZE began commercial production at its white cement plant in Fujairah, UAE, with a capacity of 2.65 lakh tons per annum.
Axis Bank: The RBI issued a ‘Letter of Caution’ regarding KYC compliance; the bank stated that corrective steps are already in place.
Computer Age Management Services (CAMS): Board approved a stock split in the ratio of 1:5, reducing the face value per share from ₹10 to ₹2, subject to shareholder approval.
Earnings
Avenue Supermarts (DMart): DMart’s Q2 consolidated net profit rose 3.9% to ₹684.85 crore, while revenue grew 15.5% to ₹16,676.3 crore. EBITDA climbed 11% to ₹1,213.65 crore, though margins slipped 29 bps to 7.28%.
Waaree Renewable Technologies: Q2 Profit surged 117.4% to ₹116.3 crore, driven by a 47.7% jump in revenue to ₹774.8 crore.
Signature Global: Q2 pre-sales fell 28% to ₹2,010 crore and area sold dropped 44% to 1.34 million sq. ft, while collections rose slightly by 2% to ₹940 crore.
Adani Energy Solutions: The transmission order book stands at ₹60,004 crore across 13 projects.
Phoenix Mills: Q2 retail consumption across malls increased 13%, residential sales rose to ₹139 crore from ₹27 crore, and collections nearly doubled to ₹115 crore.
Bajaj Finserv: Bajaj Life Insurance reported total premiums of ₹1,374.6 crore, while Bajaj General Insurance’s gross direct premium reached ₹2,218.8 crore.
Q2 Results Today
HCL Technologies, Anand Rathi Wealth, Den Networks, Just Dial, Lotus Chocolate Company, and Stallion India Fluorochemicals
Active IPOs
Rubicon Research, Canara Robeco AMC, Canara HSBC Life Insurance
Listing Today
Tata Capital
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