Today, the stocks to watch include major players like SBI, Zydus Lifesciences, Kesoram Industries, Sula Vineyards, and Glenmark Pharmaceuticals. Here are the key highlights:
Key Stocks to Watch
SBI
India’s largest lender, State Bank of India (SBI), successfully raised ₹10,000 crore at a 7.36% coupon rate through its sixth infrastructure bond issuance. This issue was met with strong investor interest, with bids exceeding ₹18,145 crore, oversubscribing the base issue size of ₹5,000 crore by around 3.6 times.
Bartronics India
Kinex India Private announced it will sell 13,500,000 equity shares of Bartronics India, each valued at ₹11. This sale represents 4.43% of Bartronics India’s share capital and is scheduled for July 11, 2024, for non-retail investors and July 12, 2024, for retail and non-retail investors.
Zydus Lifesciences
Zydus Lifesciences received tentative approval from the US FDA to market diroximel fumarate delayed-release capsules, 231 mg (Vumerity delayed-release capsules). These capsules are used for treating relapsing forms of multiple sclerosis (MS) in adults.
Kesoram Industries
BK Birla Group’s Kesoram Industries reported a net loss of ₹62 crore for the first quarter ending June 30, 2024, compared to a net loss of ₹32.4 crore in the same period last year. The company’s revenue from operations fell 12% to ₹879 crore from ₹999 crore in the corresponding period of the previous fiscal year.
Glenmark Pharmaceuticals
Glenmark Pharmaceuticals announced its exit from Glenmark Life by selling its 7.84% stake in Glenmark Life through an offer for sale (OFS). In May, Nirma acquired a 75% stake in Glenmark Life Sciences, a manufacturer of active pharmaceutical ingredients (APIs).
Sula Vineyards
Sula Vineyards reported a 9.7% increase in net revenue, reaching ₹129.6 crore, up from ₹118.2 crore in the same period last year. This growth was driven primarily by the company’s own brands, which saw a 2.7% increase in revenue, reaching ₹104.4 crore from ₹101.6 crore year-on-year.
Keep an eye on these stocks as they could present interesting opportunities for investors today.
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