Top 10 stocks for today – 8th October, 2024

8 Oct 2024 , 09:08 AM

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

HDFC Bank: The largest private sector lender’s board has approved the sale of its 100% stake in HDFC Education and Development Services Private Ltd (HDFC Edu) to Vama Sundari Investments (Delhi) Private Ltd for ₹192 Crore. The divestment, mandated by the Reserve Bank of India (RBI), requires HDFC Bank to completely depart HDFC Edu within two years of its merger with e-HDFC Ltd, with a final deadline of June 30, 2025.

Hi-Tech Pipes: The steel pipes maker launched a qualified institutional placement (QIP) at a floor price of ₹194.98 per share, agreed by its board and shareholders. On October 7, the Fund Raising Committee met to finalise and endorse the preliminary placement document. The corporation may provide a discount of up to 5% off the floor price.

Bharat Electronics: Navaratna Defence PSU has received orders worth over ₹500 Crore since their last announcement on September 11, 2024. The new contracts cover EMI (electromagnetic interference) shelters, annual maintenance contracts for integrated air command and control system nodes, and upgrades and spares for gun systems, radar spares, and communication systems. With these fresh contracts, BEL’s overall order book for the current fiscal year has reached ₹7,689 Crore.

Purvankara: The real estate firm announced the acquisition of a 3-acre 4-gunta property tract in North Bengaluru via a sale deed. The recently acquired site will be converted into a residential complex.

IRCON: Apex Buildsys Ltd, a contractor for the state-owned enterprise, filed a ₹38.71 Crore claim, which is currently being arbitrated. The claims are based on building work done at the Rail Coach Factory in Raebareli, which included wheel, bogie, paint, and machine shops.

FSN E-Commerce: FSN E-Commerce Ventures, a beauty and fashion enterprise, reported strong performance in the second quarter of FY2025, with consolidated net revenue increase in the mid-twenties year on year. The company’s beauty division experienced strong growth in both net revenue and net sales value (NSV).

Lemon Tree Hotels: The hospitality group announced the signing of its newest property, Lemon Tree Hotel, Udaipur, which will open in FY 2027. This property will be operated by Carnation Hotels Private Ltd, a wholly owned subsidiary of Lemon Tree Hotels Ltd. Lemon Tree Hotel in Udaipur will have 54 well-appointed rooms, a restaurant, a bar, a meeting space, a swimming pool and a fitness centre.

HEG: Graphite electrode maker said that it has purchased an 8.23% share in GrafTech International Ltd, a graphite electrode manufacturing company listed on the New York Stock Exchange, through secondary market transactions. HEG invested a total of ₹248.62 Crore in this deal.

Mindteck: The IT company said in an exchange filing that it will reward its shareholders with one additional share for every four shares they already own. Both the BSE Ltd and the National Stock Exchange of India Ltd have approved the bonus share issuance.

Tata Motors: Jaguar Land Rover, the company’s subsidiary, reported retail sales of 1.03 Lakh units for the quarter ending September 2024, a 3% decrease from the same time last year. Production fell 7% year on year to 86,000 units due to interruptions in the aluminium supply chain in Q1FY25. Wholesales fell 10% YoY to 87,303 units. JLR expects production and wholesale volumes to rebound significantly in the second half of the year.

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