Stock Market Today: All You Need To Know Going Into Trade On Oct. 10

• Tata Group: Ratan Tata, the former chairman and chairman emeritus of Tata Sons, passed away on Wednesday at the age of 86. He was a highly respected Indian industrialist.

• Bharat Petroleum Corp.: Andhra Pradesh Chief Minister N. Chandrababu Naidu announced that BPCL plans to establish a refinery in the state with an investment of Rs 85,000 crore. The company is currently conducting a feasibility study to determine the location.

• Adani Enterprises: The company aims to raise $500 million through a share sale, offering approximately 14.2 million shares at an indicative price of Rs 2,962 each. This represents an implied discount of 6.08% to the last closing price.

• Star Health and Allied Insurance Co.: The company has filed a statement regarding a data breach issue, acknowledging that it was the victim of a targeted cyberattack. They confirmed that operations remain unaffected and all services continue without interruption.

  Note: An official statement from the company has also been provided to NDTV Profit.

• Britannia Industries: The company has opened a cheese factory in Ranjangaon, Maharashtra, dedicated to producing The Laughing Cow products. This factory has an annual capacity of 10,000 tonnes for processed cheese. Additionally, it has also invested Rs. 87.50 lakh to acquire 875,000 equity shares at Rs. 10 each, which represents a 6.04% stake in the equity share capital of Suryaurja One Pvt. Ltd.

• Patanjali Foods: The company has received approval from the CCI to acquire Patanjali Ayurveda’s home and personal care business.

  Additionally, the arbitration tribunal has ruled in favour of Ashav Advisory in its case against the company, requiring it to deliver 1.86 crore shares to Ashav Advisory within 90 days. It is currently contesting this decision.

• Fortis Healthcare: The company has approved the issuance of Rs 15.5 billion in bonds, which will be offered through a private placement with a face value of 100,000.

• PNC Infratech: It has been declared the L1 bidder for an EPC project, with the item rate percentage awarded to PNC Infratech and AAKSHYA Infra Projects Pvt. Ltd. for Rs 2,090.59 crore.

• JM Financial: The company has received approval from the CCI to acquire a 42.99% stake in JM Financial Credit Solutions. Additionally, the CCI has approved JM Financial Credit’s acquisition of a 71.79% stake in JM Financial Asset Reconstruction Company.

• Vedanta: The company cancels its board meeting scheduled for Wednesday.

• Sonata Software: The company has partnered with iNube to provide a digital insurance platform.

• Rashtriya Chemicals and Fertilizers: The company has approved a Rs 1,000 crore order to L&T for the establishment of a 1,200 MTPD fertilizer plant.

• Shriram Finance: An allotment of 19,774 equity shares has been made following the exercise of fresh stock options under the Shriram Finance Limited Employee Stock Option Scheme 2023.

• Zee Entertainments Enterprises: The Independent Investigation Committee submitted its report to the board, concluding that no material irregularities were found.

• IRB Infrastructure Developers: Moody’s has reaffirmed IRB Infrastructure’s Ba1 rating.

• Akums Drugs and Pharmaceuticals: The company has announced the launch of its new product, which includes famotidine, calcium carbonate, and magnesium hydroxide, in the Indian market. This product is classified as an antacid, antiflatulent, and anti-ulcerant, aimed at serving the domestic market in India.

• Avenue Supermarts: The company has opened two new stores today in Thergaon and Nawanshahr. The total number of stores now stands at 381.

• Indian Railway Finance Corp.: The company has appointed Shri Manoj Kumar Dubey as chairman, managing director, and chief executive officer for a term of five years.

• Rain Industries: Northern Graphite and Rain Carbon have announced an agreement to jointly develop natural graphite battery anode material.

• G R Infraprojects: The company received a letter of acceptance for a project valued at Rs 904 crore from Maharashtra Metro Rail Corp.

• KCP Sugar & Industries Corp. and The Ramco Cements:

  Andhra Pradesh Chief Minister N. Chandrababu Naidu announced on Tuesday that the World Bank has agreed to provide a Rs 15,000 crore loan to the state government for the construction of the capital, Amaravati, with work set to begin in December. Naidu also stated that the Centre has agreed to release Rs 12,500 crore for the construction of the Polavaram project.

GTPL Hathway- Q2FY25 (Consolidated, YoY)

• Revenue at up 9.8% Rs 855.56 crore vs Rs 779.20 crore

• Ebitda down 13.64% at Rs 107.37 crore vs Rs 124.32 crore

• Margin at 12.55% vs 15.95% down 340 bps

• Net profit down 61.69% at Rs 13.74 crore vs Rs 35.87 crore

Western Carriers Q1FY25 (Consolidated, YoY)

• Revenue up 5.26% at Rs 422.71 crore vs Rs 401.57 crore

• Ebitda up 13.22% at Rs 35.46 crore vs Rs 31.32 crore

• Margin at 8.38% vs 7.79% up 58 bps

• Net profit up 8.24% at Rs 18.9 crore vs Rs 17.46 crore