Godrej Properties, Tata Power, and Senco Gold are in focus on 08 October. Senco Gold reported a 31 percent revenue growth, while Jubilant Foodworks saw consolidated revenue rise 11.9 percent. Meanwhile, Tata Power partnered with Ocean Sun for a floating solar project, and TD Power Systems launched a QIP issue.
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Let's catch up on the latest news from the stock market. From significant investments to major deals, quarterly earnings, appointments, and order wins, here’s a quick look at which stocks will be in focus in today's trade:
Results Today
Tata Consultancy Services, GM Breweries, K&R Rail Engineering, Lotus Chocolate Company, and Onix Solar Energy will release their quarterly earnings today.
Quarterly Business Update
PC Jeweller Q2 (YoY)
Consolidated revenue grows 28%, backed with a healthy consumer demand
Company receives remittances of Rs 142 crore from its outstanding export debtors
Company achieves a debt free status after repayment of outstanding debt
Senco Gold Q2 revenue grows 31%, same-store sales growth at 19% YoY. Company expects Q3 to witness strong seasonal demand
Senco Gold Q2 (YoY)
Total revenue grows 31%, retail revenue growth at 29%
Same-store sales growth at 19%
Diamond jewellery sales value rises 40%, volume grows 7%
Company opens 6 new showrooms, expanding network to 215 stores
Expect Q3 to witness strong seasonal demand, supported by underlying affinity for gold fuelled by wedding demand
Jubilant Foodworks Q2 (YoY)
Consolidated revenue increases 11.9% to Rs 2,608.7 crore
Standalone revenue grows 11.6% to Rs 1,885.8 crore
Domino’s India records a Like-For-Like growth at 4.1%, Eurasia's growth down 2.1%
Company adds 108 stores, taking total stores count to 3,820
Domino’s India adds 88 stores, taking total store count to 2,601
Stocks to Watch
TD Power Systems
The company launched its qualified institutions placement (QIP) issue on October 7, with a floor price of Rs 775.35 per share. The company is seeking to raise up to Rs 600 crore through the QIP, reports CNBC-TV18, quoting sources.
Tata Power Company
Tata Power has partnered with Norway-based renewable energy technology company Ocean Sun to bring its innovative membrane-based floating solar technology to India. The collaboration will see Tata Power and Ocean Sun undertake a 300-kWp floating solar pilot project at Tata Power's Mulshi reservoir in Maharashtra.
Godrej Properties
The Brihanmumbai Municipal Corporation (BMC), in partnership with Godrej Properties and RC Group, has announced the first phase of a landscaped bayside promenade at Bandra Bay in Mumbai.
Allcargo Terminals
Total volumes in September stood at 61,800 TEUs (twenty-foot equivalent units), falling 7 percent from the same month last year and declining 6 percent from the previous month.
Hindustan Aeronautics
The Board has approved the appointment of Anindya Biswas, DS & DG (Aero), DRDO, as a part-time official Director (Government Nominee Director) of the company, replacing K Rajalakshmi Menon, effective October 7 until further orders, subject to the approval of shareholders at a General Meeting.
HCL Technologies
HCLTech is scaling up its operations in South Africa with the launch of its new regional headquarters in Johannesburg, further strengthening the company's technology innovation and delivery capabilities for enterprises in South Africa and the region. The new facility will house an AI Center of Excellence.
Ola Electric Mobility
The Board has approved 37.02 crore rights equity shares worth Rs 999.73 crore at Rs 27 per share. The record date for determining shareholders eligible to receive the rights entitlement has been fixed as October 13.
The rights issue will open on October 22 and close on October 30.
RPP Infra Projects
RPP Infra has decided to withdraw from and discontinue its participation as the Joint Developer in the proposed Legend 96 residential project, citing delays in obtaining approvals, financing challenges, proposed security arrangements and a proposed alteration to the agreed revenue-sharing arrangement.
The company has communicated its intention to Wills Realtors, seeking termination of the Development and Financing Agreement and settlement of the amounts payable between the parties.
ASK Automotive
Rajasthan GST officials conducted inspection/search operations at the company's manufacturing unit in Bhiwadi, Rajasthan, on October 6. The company has extended full cooperation and provided all necessary documents, clarifications and details. There is no material impact on the company's financials, business operations or any other activities.
MRF
Following the rectification application filed by MRF, the Deputy Commissioner of State Tax, Kerala, has passed a rectification order, reducing the total tax demand from Rs 91.53 crore to Rs 36.19 crore. The matter relates to export clearances and declaration forms under sales tax for the financial year 2014-15.