Stocks to Watch on July 11: SBI, Glenmark Pharma, Bartronics, Zydus Life, Sula Vineyards, and More
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.
