Stocks to watch- TCS, Tata Motors, Larsen & Toubro, BHEL

Stocks to watch: TCS, Tata Motors, Larsen & Toubro, BHEL

Stocks in Focus: GIFT Nifty traded flat at 19,607, up marginally 0.01%, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. The NSE Nifty 50 gained 0.56% to settle at 19,545.75, while the BSE Sensex added as much as 405.53 points to 65,631.57.

“The positive signal from the PMI data and the correction in the crude price boosted the market sentiment. Reduction in FIIs selling rebound sectors like bank and IT shares today. While regarding RBI policy, positively, the market expects the interest rate to be hold-on as external demand outlook indicates muted trend fearing disinflationary trend in the future,” said Vinod Nair, Head of Research at Geojit Financial Services.

Larsen & Toubro

The company has informed the exchanges that the application for voluntary liquidation of L&T Hydrocarbon Caspian LLC (Azerbaijan), a Joint Venture of Larsen & Toubro has been approved by the Ministry of Economy of the Republic of Azerbaijan. The Company received the order confirming the liquidation on October 5. Consequently, L&T Hydrocarbon Caspian LLC has ceased to be a Joint Venture of the Company.

Tata Motors

Jaguar Land Rover (UK), a wholly owned subsidiary of Tata Motors, reported increased sales volumes for the second quarter of FY24 (three-month period to 30 September 2023), reflecting continuing improvement in supply, allowing JLR to deliver more vehicles to clients. Wholesales in Q2 FY24 were 96,817 units, up 29% vs. Q2 FY23 and up 4% vs. Q1 FY24 (wholesales exclude China JV); H1 wholesales for FY24 were 190,070 units, up 29% year-on-year. Retail sales in Q2 FY24 were 106,561, up 21% vs. Q2 FY23 and up 4% vs. Q1 FY24; H1 Retail sales were 208,555 units, up 25% year-on-year, according to the regulatory filing on the NSE.

Sun Pharma

The company has entered into agreements to acquire equity shares in Ezerx Health Tech Private and Agatsa Software Private.

BHEL

The company won two awards in arbitration proceedings against Jaiprakash Power Ventures in separate cases.

Valiant Laboratories

The company’s shares are scheduled to debut on the bourses today.