Stocks to Watch: NMDC, Indigo, Hero Moto, Glenmark, and the HDFC twins

  • July 4, 2022, 1:01 p.m.

HDFC Bank/HDFC: The bank and its parent iinched closer to the merger process as stock exchanges give thumbs up to their amalgamation scheme. Both HDFC Bank and HDFC have received ‘no adverse observations’ from BSE and a ‘no objection’ from the National Stock Exchange.

Interglobe Aviation: Fifty-five per cent of IndiGo's domestic flights were delayed on Saturday as a significant number of cabin crew members took sick leave. Aviation regulator DGCA said it is looking into this.

Glenmark Pharmaceuticals: The US FDA has issued Form 483 with one observation after an inspection at the company’s formulation manufacturing facility based out of Aurangabad, India between June 27 and July 1. The company said it is committed to undertaking all necessary steps required to address their observation at the earliest and added it is committed to maintaining the highest quality manufacturing standards at all of its facilities across the globe.

Maruti Suzuki: Betting big on green technologies, the auto major plans to have strong hybrid technology across its model range in the next 5-7 years, as per a senior company official. The auto major aims to have strong and mild hybrid technologies as part of an initiative to have environment-friendly technology elements in each of its models, enabling better fuel efficiency and reduced carbon footprint.

NMDC: The state-owned has registered a fall of about 14 per cent in its iron ore production at 2.57 million tonnes (MT) during June 2022. In June last year, it had produced 2.98 MT iron ore, NMDC said in a BSE filing. Last month the company also saw its sales falling to 1.90 MT, from 3.18 MT in June 2021, a year-on-year (y-o-y) fall of 40 per cent.

Hero MotoCorp: The country's largest two-wheeler maker reported a 3% increase in total sales at 4,84,867 units in June. In the domestic market, sales rose to 4,63,210 units last month from 4,38,514 units in June. Exports last month stood at 21,657 units as against 30,646 units in the year-ago period.

NTPC: With an aim to achieve the target of 60 GW of renewable energy capacity by 2032, NTPC signed a memorandum of understanding with the Government of Rajasthan for the development of 10 GW Ultra Mega Renewable Energy Power Park in Rajasthan.

Vedanta: The Group expects its semiconductor business turnover to be in the range of $3-$3.5 billion out of which around $1 billion will come from exports, Vedanta Group's global managing director of display and semiconductor business Akarsh Hebbar told PTI, adding that its JV partner Foxconn has all the agreements and required technologies in place to start making electronic chips.

Coal India: The world’s biggest producer of the fossil fuel, posted record production in the June quarter as it sought to meet strong demand from power plants amid an unprecedented heatwave. The state-run miner produced 159.8 million tonnes (MTs) of coal in the three months ended June, a nearly 29% rise from the 124 MTs produced a year earlier. All units of CIL recorded higher production in Q1.

Ashoka Buildcon: The company's joint venture with Cube Construction Engineering Limited has emerged as the lowest bidder for the construction and maintenance of Rajiv Gandhi Fintech Digital Institute, Jodhpur. The awarded bid project cost is Rs.611 crore. 

Author : Rajdhani Delhi Representative

Rajdhani delhi representative

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