“In near term investors will keep an eye on upcoming earnings announcements, global interest rate trends, and crude oil price movements,” said Vikram Kasat, Head – Advisory, PL Capital
In today’s trade, shares of HUL, Jain Resource Recycling, Ola Electric, Tata Motors PV, Torrent Pharma among others will be in focus due to various news developments.
Jain Resource Recycling
The company has entered into a Joint Venture agreement with C&Y Group Investments to establish and operate a recycling and manufacturing facility in Ahmedabad. The JV will focus on the recycling of various scrap materials, including cables, motors, alternators, starters, motor coils, transformers, meatballs, and other types of copper scrap. In line with the pact, a private limited company will be incorporated in India. In other news, the company has also announced its second quarter results.
UCO Bank
State-owned UCO Bank plans to add another 150 branches in the next five months in a bid to expand its presence and business. Currently, the Kolkata-based lender has 3,322 branches across the country and with the addition of 150 branches, the network would rise to 3,472 by the end of the current financial year. The board has approved opening of 150 more branches by March, UCO Bank MD & CEO Ashwani Kumar said during a call after approval of second quarter numbers.Jindal Steel
Germany’s Thyssenkrupp will start giving India’s Jindal Steel International more access to financial details of its Thyssenkrupp Steel Europe (TKSE) business from next week, Reuters reported. Jindal Steel made an indicative bid last month for TKSE, Europe’s second-largest steelmaker after ArcelorMittal, with Thyssenkrupp CEO Miguel Lopez telling Reuters on Monday that talks were intensive.
Tata Motors PV
Tata Motors Passenger Vehicles delivered over 1 lakh vehicles in 30 days from Navratri to Diwali, a growth of 33 per cent over the same period last year. The deliveries were led by SUVs with electric vehicles also showing strong traction, Tata Motors Passenger Vehicles Ltd Managing Director and CEO Shailesh Chandra said in a statement.
RIL
Reliance Industries bought Middle Eastern crudes last week and may place more orders, in a sign that Western pressure against Russian flows may be starting to impact its procurement patterns. The privately-held refiner bought at least 2.5 million barrels, including Iraq’s Basrah Medium, as well as Al-Shaheen and Qatar Land, Bloomberg reported.
Torrent Pharma
Fair trade regulator CCI on Tuesday cleared Torrent Pharmaceuticals Ltd’s proposed acquisition of a stake in JB Chemicals and Pharmaceuticals, subject to voluntary modifications offered by the companies. The development came after Torrent Pharmaceuticals in June this year announced the acquisition of a majority stake in JB Chemicals and Pharmaceuticals in a Rs 19,500-crore deal.
Ola Electric
Police on Tuesday said they have launched an investigation into the suicide of a 38-year-old engineer who worked with Ola Electric and had alleged harassment by his superiors. K Aravind, who had been working as a homologation engineer with the electric vehicle company in Koramangala since 2022, allegedly attempted suicide at his apartment in Chikkalasandra on September 28.
HUL, Colgate-Palmolive, Laurus Labs, Vardhman Textiles
Shares of HUL, Colgate-Palmolive, Laurus Labs and Vardhman Textiles will be in focus today as the companies will announce their second quarter results.