Stocks to Watch: Check out the companies making headlines before the opening bell.
Maruti Suzuki India: The country’s largest car maker announced production of 1.24 lakh vehicles in December 2022, down 18% from 1.52 lakh vehicles a year back.
Zomato: Gunjan Patidar, co-founder and chief technology officer of the company, has tendered his resignation. Gunjan was one of the first few employees of Zomato and built the core tech systems for the company.
HFCL: The company, along with subsidiary HTL, has received orders worth Rs 95.38 crore from Reliance Projects & Property Management Services for supply of optical fiber cables to one of the leading private telecom operators of the country. The orders will be executed by February 2023.
PSP Projects: The company has emerged as lowest bidder (L1) for a government project worth Rs 1,364.47 crore in Gujarat. It will construct high rise office building at Surat for Surat Municipal Corporation.
Borosil: The company has commenced commercial production of opal ware glass at its Jaipur plant in Rajasthan. The plant has additional production capacity of 42 TPD for opal ware glass.
Mahindra & Mahindra Financial Services: In December 2022, the non-banking finance company said the business continued its momentum with disbursement of Rs 4,650 crore, a 67% YoY growth led by positive macro environment. In Q3FY23 disbursements at Rs 14,450 crore registered a 80% growth YoY and with this, the year-to-date (YTD) disbursement stood at Rs 35,750 crore, up 95% YoY. Its collection efficiency (CE) was at 98% for December 2022 and that of Q3 was 95%.
Safari Industries (India): Subsidiary Safari Manufacturing has successfully commenced its additional commercial production of luggage at Halol factory in Gujarat.
Dabur India: The company has completed acquisition of 51% stake in Badshah Masala as per Share Purchase Agreement and Shareholders Agreement. With this, Badshah Masala has become a subsidiary of Dabur India.
Likhitha Infrastructure: The company has received orders worth Rs 120 crore from various oil and gas distribution companies during the quarter ended December 2022.
Hindustan Zinc: The company’s mined metal production at 254kt increased by 1% YoY driven by higher ore production and down 1% QoQ due to overall mined metal grades, while refined metal production at 257kt fell 2% YoY as per mined metal availability, but sequentially grew 5% with better plant and mined metal availability. Wind power generation for Q3FY23 at 50 million units, down 15% YoY & down 59% QoQ, owing to lower wind velocity & seasonality impact.
South Indian Bank: The Kerala-based private sector lender has clocked 18% year-on-year growth in gross advances at Rs 70,168 crore for the quarter ended December FY23 and deposit in the same period grew by 3% to Rs 90,714 crore. CASA ratio improved to 33.84%, from 31.95% YoY.
Sandip Das
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