Stocks To Watch On September 11: Domestic markets extended their rebound, gaining nearly half a percent on Tuesday, supported by a recovery in global indices. In today’s trade, shares of HDFC Bank, Vodafone Idea, Dr Reddy’s, RIL, and IndiGo among others will be in focus due to various news developments.
SpiceJet: The airline has reached a deal with Carlyle Group’s commercial aviation unit to write off a $40.2 million payment obligation and a $30 million conversion of arrears into equity. This move is set to increase Carlyle’s stake in SpiceJet and could boost the airline’s financial stability.
Maruti Suzuki India: As the company gears up to launch its first electric vehicle (EV) in January 2025, it plans to address key consumer concerns including range anxiety, charging infrastructure, and resale value.
L&T: L&T Semiconductor Technologies, an arm of L&T, has entered into a strategic partnership with IBM to advance processor design for edge devices and hybrid cloud systems. The collaboration aims to develop India’s semiconductor tech ecosystem and is expected to drive innovation in computing applications.
Reliance Industries: Reliance Retail Ventures, the retail business of RIL, has formed a 50/50 joint venture with Delta Galil Industries to enhance its apparel offerings in India. This partnership aims to bring innovative intimate and activewear products to the Indian market.
Mahindra & Mahindra: The company has responded to allegations from the Congress party regarding preferential treatment related to market regulator Sebi and its chief. The company has firmly denied these claims and highlighted its commitment to corporate governance standards.
Vodafone Idea: Vodafone Idea is still facing significant challenges securing loans from public-sector banks due to its liabilities and the lack of a clear capital expenditure plan, despite raising significant equity funds.
Century Textiles and Industries: The Aditya Birla group company has acquired a 10-acre land parcel in Mumbai with significant development potential from the Wadia Group. The deal boosts the company’s landholding and booking value potential.
Lemon Tree Hotels: The company has signed a license agreement for a new property, Lemon Tree Hotel, Mira Road, Mumbai. Scheduled to open in FY26, this hotel, with 108 rooms, a restaurant, bar, meeting room, swimming pool, and a spa catering to both business and leisure travelers, will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels.
HDFC Bank, Axis Bank: Both the banks have been penalised by the Reserve Bank of India for various regulatory non-compliances. HDFC Bank faces a Rs 1 crore penalty, while Axis Bank has been fined Rs 1.91 crore.
Coal India: The company is set to invest approximately Rs 67,000 crore in developing coal-fired power plants near its mining operations. This move, which includes 4.7 gigawatts of planned generation capacity over the next six to seven years, underscores the ongoing reliance on coal for India’s power needs.
IndiGo: The Bureau of Civil Aviation Security (BCAS) has reduced the quantum of penalty imposed on the company from Rs 1.2 crore to Rs 70 lakh.
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