Top 10 stocks for today – 3rd April 2024

3 Apr 2024 , 09:10 AM

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

1. Biocon: Subsidiary Biocon Biologics has successfully concluded the transfer of its branded formulations business in India to Eris Lifesciences through a slump sale transaction, totaling ₹1,242 Crore. This business segment encompasses metabolics, oncology, and critical care diagnostics.
2. Zee Entertainment: The media and entertainment company’s Managing Director and CEO, Punit Goenka, has opted to initiate a 20% reduction in their remuneration. Under his leadership, the company’s management is actively implementing necessary measures across various divisions to streamline costs and bolster productivity. In the fiscal year 2023, Punit Goenka received ₹35 Crore as remuneration.
3. Britannia Industries: The biscuit maker announced that its board of directors has endorsed the appointment of Susheel Navanale as the Chief Information Officer, effective April 3rd.
4. PNC Infratech: The company has finalized a settlement agreement with the National Highways Authority of India (NHAI) and its subsidiary, PNC Raebareli Highways, amounting to ₹117.15 Crore under the Vivad Se Vishwas II (Contractual Disputes) Scheme initiated by the Government of India.
5. Anupam Rasayan: The company has recently inked a letter of intent with a prominent Japanese multinational corporation valued at $90 million (approximately ₹743 Crore) for a duration spanning the next 7 years. This agreement entails the supply of two advanced intermediates leveraging fluorination chemistry.
6. Hindustan Zinc: In the quarter ending March FY24, the mined metal production saw a slight decline of 1% year-on-year (YoY) to 299 kilotons (kt). However, there was a notable increase of 11% sequentially, attributed to a combination of enhanced mined metal grades and increased ore production across various mines. Refined metal production reached 273 kt, marking a 6% quarter-on-quarter (QoQ) rise primarily due to improved plant availability. On a year-on-year basis, there was a modest increase of 1% in refined metal production.
7. JSW Energy: The JSW Group company has obtained approval from its board of directors to raise funds amounting to ₹5,000 Crore through qualified institution placement (QIP) in one or multiple tranches.
8. HCL Tech: The IT services company announced that HCL Investments UK, a wholly-owned subsidiary, has successfully concluded the divestment of a 49% equity stake in its joint venture (JV) with US-based State Street International Holdings. As part of this transaction, the subsidiary received $172.5 million. Additionally, the agreement for related services has been terminated.
9. NALCO: The company has reached significant milestones in FY24, including its highest-ever cast metal production of 463,428 metric tons, bauxite excavation totaling 76,00,230 metric tons, and metal sales amounting to 470,108 metric tons. Additionally, during the year, the company expanded its product range by introducing a new aluminum alloy ingot (AL59).
10. Ultratech Cement: The company has initiated the construction of two new facilities: a 2.70 million tonnes per annum (mtpa) cement grinding unit in Karur, Tamil Nadu, and a 2.70 mtpa integrated cement plant in Kukurdih, Chhattisgarh. Following these developments, the company’s overall domestic grey cement manufacturing capacity has risen to 146.2 mtpa. Moreover, when combined with its existing capacity of 5.4 mtpa in the UAE, the company’s total capacity now stands at 151.6 mtpa.