IndusInd Bank | CMP: Rs 1,190.15 | The stock price added over 2 percent after Goldman Sachs Investment (Mauritius) acquired 69,66,712 equity shares in IndusInd Bank via open market transactions at an average price of Rs 1,167.53 a share. However, Route One Fund I LP sold 1.2 crore shares at an average price of Rs 1,168.26 a share.
Coal India | CMP: Rs 232.05 | The scrip rose over 2 percent on October 12. State-owned Coal India Ltd has signed agreements with three public sector undertakings—Bharat Heavy Electricals Ltd (BHEL), Indian Oil Corporation Ltd, and GAIL (India) Ltd—to set up four surface gasification projects. It aims to gasify 100 million tonnes (mt) of coal into syngas for use in downstream production of value-added chemicals in the next eight years to reduce the import of crude oil, which is used to produce syngas.
Wipro | CMP: Rs 408.55 | The share price ended in the green. The company said after market hours that its consolidated net profit for the quarter ended September 30, 2022 fell 9.27 percent to Rs 2,659 crore from Rs 2,930 crore in the year-ago period. The Bengaluru-based company's revenue from operations stood at Rs 22,539.7 crore, a 14.60 percent growth over Rs 19,667.4 crore in the year-ago quarter. Sequentially, the revenue increased 4.69 percent from Rs 21,528.6 crore in the previous quarter. Profit was up 3.71 percent from Rs 2563.6 crore in the previous quarter.
PVR | CMP: Rs 1,723 | The stock ended in the green after the company's shareholders approved the merger with Inox Leisure. The announcement was notified in a regulatory filing by Inox Leisure. The two boards of the country's largest multiplex chain operators approved an all-stock merger to create a film exhibition entity with a network of more than 1,500 screens.
Delta Corp | CMP: Rs 217 | The stock ended in the red on October 12 even though the company recorded its highest consolidated revenue of Rs 651 crore and net profit of Rs 125 crore for the half year of FY 2022-23. Investors believe a 28 percent GST consideration on casino business is a key overhang on the stock, however, Delta Corp's management clarified in Q1FY23 earnings call that "the casino business operating out of Goa right from July 1, 2017, has been paying a 28 percent GST. So as far as we are concerned, there will not be any impact from GST perspective".
Marksans Pharma | CMP: Rs 48.40 | The scrip jumped 4 percent after the company entered into a business transfer agreement with Tevapharm India Private Limited on October 12 for acquire business relating to the manufacture and supply of bulk formulations in Plot No. Al, Phase l-A, Verna Industrial Estate, Verna in Goa as a going concern on a slump sale basis.
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