Top 10 stocks for today – 10th April 2024

10 Apr 2024 , 09:03 AM

Here are some of the stocks that may see significant price movement today.

One 97 Communications: Foreign portfolio investors grew their stake in the Paytm operator by 2% to 20.64% in the March FY24 quarter, up from 18.64% in the December FY24 quarter. During the same period, mutual funds increased their interest in the firm by 1.16%, to 6.15% from 4.99%, while foreign direct investment fell to 39.77% from 45.08%. Meanwhile, affiliate entity Paytm Payments Bank told One 97 Communication that Surinder Chawla has resigned as Managing Director and CEO of Paytm Payments Bank for personal reasons and to pursue other professional opportunities.

IndusInd Bank: IndusInd International Holdings (IIHL), IndusInd Bank’s promoter organisation, has inked a final agreement with Invesco India Asset Management to create a joint venture. IIHL would acquire a 60% interest in Invesco India Asset Management, with Invesco Limited keeping a 40% stake in the newly established joint venture. Both IIHL and Invesco will have sponsor status.

Lupin: The pharmaceutical business has introduced its first generic version of Oracea (Doxycycline capsules, 40 mg) in the United States, after FDA clearance. Doxycycline capsules, which are used to treat only inflammatory lesions (papules and pustules) of rosacea in adult patients, had an expected annual sales of $128 million in the United States in February 2024, according to IQVIA MAT.

Exide Industries: The automotive battery maker has agreed to purchase a 26% ownership position in Clean Max Arcadia, a special purpose vehicle (SPV) created and formed by Clean Max Enviro Energy Solutions for the generation and delivery of solar electricity. Through SPV, the firm will support renewable energy in the long run by qualifying as a captive customer for a 14.85 MWp solar capacity at its facility in Bawal, Haryana.

Aditya Birla Fashion and Retail: Aditya Birla Lifestyle Brands (ABLBL) has been incorporated as a new company. It is formed to facilitate the intended demerger of the company’s Madura Fashion and Lifestyle operations.

Paisalo Digital: The business said that assets under management (AUM) expanded by 32% to ₹4,622 Crore at the end of the March FY24 quarter, while disbursements jumped by 38% to ₹3,588 Crore and co-lending loan disbursements increased by 100% to ₹1,128 Crore. Customer franchise at the end of the March FY24 quarter was 4.29 million, compared to 1.50 million at the end of the March FY23 quarter.

RattanIndia Power: Ankur Mitra has resigned as Chief Financial Officer (CFO) and senior management people of the organisation, effective April 9. The board has selected Manish Ratnakar Chitnis as the company’s Chief Financial Officer, on the same day. Furthermore, Gaurav Toshkhani has been appointed as the firm Secretary (CS) and key managerial staff of the firm, effective immediately, in lieu of Lalit Narayan Mathpati.

Nirlon: ICICI Prudential Mutual Fund purchased 9.07 lakh equity shares (equal to 1% of paid-up equity) in the firm at an average price of ₹430 per share. However, Sadafuli Finvest was the seller in this transaction, selling 9,07,302 equity shares for the same sum.

Nippon Life India Asset Management: Gopal Khaitan has resigned as the business’s Principal Officer (PMS) and senior managerial staff, effective April 9, to pursue his interests outside of the company. Gurbir Singh Chopra will take over as Principal Officer, PMS, beginning April 10.

Gland Pharma: Nicomac Machinery, a corporation linked to the business’s previous promoter, Dr. Ravi Penmetsa, sold 19,55,452 equity shares (equal to 1.18% of paid-up equity) in the pharmaceutical company for an average price of ₹1,735.31 per share. Lakumi Trust sold 61,65,486 equity shares (3.7% of paid-up equity) at an average price of ₹1,739.1 per share.

For feedback and suggestions, write to us at [e-mail]