Keep an Eye on These Stocks Today: SpiceJet, SBI, HDFC Bank, Vedanta and others

Keep an Eye on These Stocks Today: Wednesday’s trading session was erratic, but the markets were nevertheless able to continue rising thanks to a strong gain at the front end. Due to a number of news events, shares of SpiceJet, SBI, HDFC Bank, Adani Green, and Vedanta, among others, will be the subject of attention in today’s session.

State Bank of India: According to C. S. Setty, chairman of the bank, SBI wants to become the first financial company in India to earn a profit of Rs 1 trillion in the next three to five years. The bank is focused on striking a balance between profit growth and customer-centric operations, as seen by its standalone net profit of Rs 61,077 crore in FY24, a gain of 21.59 percent year over year. It is expected that corporate customers would provide a strong Rs 4 trillion loan pipeline, with infrastructure industries leading the way.

Vedanta: To examine a possible fourth interim dividend for FY25, the board of the corporation will convene on October 8. This financial year, the business has already announced a total dividend of Rs 13,474 crore, demonstrating impressive returns to shareholders. Over the next three years, Vedanta Resources intends to cut its debt by up to $3 billion.

Piramal Pharma: According to company chair Nandini Piramal, the pharmaceutical business hopes to triple its EBITDA and quadruple its sales to $2 billion by FY30. By FY30, the business wants to keep its net debt to EBITDA ratio at 1x. It is anticipated that their CDMO sector would expand dramatically owing to rising demand, particularly as a result of the possible effects of the US Biosecure Act.

HDFC Bank: According to a Macquarie research report, the bank’s loan growth may fall below 10% YoY in Q2FY25 as a result of portfolio management techniques. The bank’s primary goals include raising net interest margins and lowering its loan-to-deposit ratio. In a separate transaction, UBS Group purchased 30.72 lakh HDFC Bank shares at a price of Rs 1,768.05 apiece, for a total of nearly Rs 543 crore.

Bharti Airtel: To improve consumer safety and maybe boost customer happiness and retention, the telecom giant is introducing an AI-based solution to identify spam calls and texts.

Titan: SKINN Fragrances, the company’s fragrance business, has introduced a new, reasonably priced brand called 24Seven, aimed toward younger customers. By FY25, the firm wants to have onboarded 2.5 million consumers.

Adani Enterprises: Potential development prospects in the aviation industry are signaled by Gautam Adani’s conversation with the CEO of Bombardier about strengthening India’s aviation capabilities, notably in MRO services and defense.

SpiceJet: According to Chairman Ajay Singh, the airline plans to increase its fleet size to 100 aircraft by 2026. This statement comes after the airline raised Rs 3,000 crore via qualified institutional placement (QIP), a successful fundraising effort. Singh acknowledged that the COVID-19 epidemic and the Boeing 737 Max grounding were major obstacles, but he was confident in the airline’s core competencies.

Coromandel International: The firm stated that it would borrow $6.5 million for growth and buy an additional 8.82 percent of Senegal-based BMCC for $3.84 million, bringing its share in the company to 53.8%. Given that India produces a large amount of fertilizer using imported rock phosphate, the investment is essential. According to the CEO of Coromandel, this action will improve supply security for the company’s operations and assist Kakinada Unit production.

Shriram Finance: Using fixed-rate senior secured social USD notes with a 6.15 percent yield, the business was able to successfully raise $500 million. With a 2.4x subscription, this is the company’s first USD bond issue in FY25 and demonstrates robust investor interest. The fund-raising proceeds will be allocated to sustainable income-generating areas, namely MSME and auto financing.

Reliance Power: In order to go closer to being debt-free, Rosa Power, a Reliance Power subsidiary, has paid Rs 850 crore to Varde Partners. This program helps Reliance Power achieve its overarching goal of strengthening its financial sheet and moving toward renewable energy. By the conclusion of the fiscal year, the firm intends to pay off its remaining debts.

Bank of India: In the midst of strong demand that saw bids surpassing Rs 6,000 crore, the bank raised Rs 2,500 crore via tier-II bonds at a 7.49 percent coupon rate. The bank intends to increase its capital adequacy ratio to 16 percent, and this issue is a part of that plan. In the next months, the bank intends to raise further capital via new Tier-I bonds and infrastructure bonds.

Infosys: The business and Polestar have joined together to establish a technology base in Bengaluru with the goal of creating infotainment and sophisticated driver assistance systems software for electric cars.

Biocon: At the EADV Congress 2024, Biocon Biologics, a division of Biocon, presented encouraging Phase-III clinical research results for its biosimilars, ustekinumab and adalimumab. According to the research, patients may safely transition between reference and biosimilar medications, pointing to a large amount of potential for interchangeability and better patient access to therapies, both of which might result in cheaper healthcare costs.