Following are the top ten stocks that are likely to be in focus on Tuesday:
Bajaj Auto: The company has announced a share buyback after its board approved the proposal to buy back up to 4,000,000 shares of face value of ₹10 each for ₹10,000 per share for a total consideration not exceeding ₹4,000 crore. The company’s board has constituted a buyback committee and delegated the power to do all such acts, deeds, matters, and things as it may deem necessary, expedient, or proper in connection with the offer.
Adani Enterprises: The company’s step-down subsidiary, Mumbai International Airport Ltd (MIAL), has won the arbitration case against the Airports Authority of India. MIAL is now excused from making monthly annual fee payments for the period between March 13, 2020, and February 28, 2022, citing the existence of force majeure.
Tata Motors: The company’s subsidiary Jaguar Land Rover reported a 27% rise in total wholesales at 101,043 units in the third quarter ended December as compared to the year-ago period. JLR delivered the highest wholesales in 11 quarters during the period.
Aurobindo Pharma: The US Food and Drug Administration (FDA) had conducted an inspection at the company’s formulation manufacturing facility, situated at Chitkul, Telangana, from 22 September to 29 September. The FDA has now classified the facility as ‘Voluntary Action Indicated’ in the establishment inspection report, which means the company will have to respond within 30 days of the inspection.
Eicher Motors: Motorcycle manufacturer Royal Enfield, a unit of the company, has earmarked investments of ₹3,000 crore spread for eight years in Tamil Nadu towards the development of new products. The investments are expected to generate about 2,000 direct and indirect jobs in the region.
Cipla: Cipla (EU) Ltd, UK a wholly owned subsidiary of the company has entered a strategic collaboration with Kemwell Biopharma Private Limited (through its subsidiary Kemwell Biopharma UK Limited) and Manipal Education & Medical Group (through its subsidiary MNI Ventures, Mauritius) to incorporate a joint venture in the US.
IRM Energy: The company said it is committed to investing a substantial amount of ₹858 crore in Tamil Nadu over the next five years. This investment is focused on enlarging the natural gas distribution network across the state, marking a significant move towards adopting cleaner and more sustainable energy solutions.
BEML: The company has bagged orders from the ministry of defence for the supply of Mechanical Minefield Marking Equipment Mark-II valued at approximately ₹329.87 crore.
Brigade Enterprises: The company has signed two memorandum of understanding (MoUs) with the Tamil Nadu government to invest over ₹3,400 crore in the state over the next 3-4 years.
IRB Infra: The company and its associate IRB Infrastructure Trust, one of the largest Infrastructure Investment Trusts in India’s highways sector, have collectively reported toll collection growth of 26% in the month of December 2023 over the corresponding month of FY23
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
