Stock Market Today: All You Need To Know Going Into Trade On Oct. 8

• Ola Electric Mobility: The electric vehicle maker has been served a notice by Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement, and unfair trade practices.

• Hi-Tech Pipes: The company opens its QIP and sets the floor price at Rs 194.98 per share.

• IRCON International: Contractor Apex Buildsys files claims of Rs 38.71 crore against the company.

• HDFC Bank: The lender approves the sale of HDFC Edu to Vama Sundari Investments for Rs 192 crore. Vama Sundari is a related party to HDFC AMC.

• Bharat Electronics: The company has received an additional order worth Rs 500 crore. The order includes EMI shelters, AMC for integrated air command and control system nodes, upgrade spares for gun systems, spares for radars, and communication systems.

• Bajaj Hindusthan Sugar: The company terminates the JV with EverEnviro Resource Management.

• Chalet Hotels: The company has submitted a scheme of arrangement for the merger with Sonmil Industries Pvt. Ltd. and The Dukes Retreat Pvt. Ltd.

• Puravankara: The company will acquire a three-acre land parcel in North Bangalore for a residential project.

• City Union Bank: The bank on Monday opened three new branches in Ludhiana, Pudukkottai and Sivakasi.

• Bank of Baroda: The lender announces Sachin Tendulkar as its global brand ambassador.

• Hitachi Energy: N. Venu, managing director and chief executive officer, announced plans to double the company's transformer manufacturing capacity over the next four years to address the increasing demand from new power projects. The company is collaborating with smaller vendors to expedite the delivery of parts required for assembly.

• Tata Motors: In the second quarter, JLR reported retail sales of 103,000 units, a decline of 3% year-on-year. Production was recorded at 86,000 units, down 7% from the previous year, primarily due to disruptions in aluminium supply reported in the first quarter. Wholesales also decreased, totalling 87,303 units, which represents a 10% year-on-year drop. Despite these challenges, production and wholesale volumes are expected to recover strongly in the second half of the year.

• Nuvoco Vistas Corp.: The company has been declared as the preferred bidder for three limestone blocks in Rajasthan, covering an area of 41.37 hectares and containing a total of 28.43 million tonnes of resources.

• Sobha: In the company's second quarter, it sold a new area of 0.93 million square feet, generating a sales value of Rs 1,179 crore, with an average price realisation of Rs 12,674 per square foot. For the first half of fiscal 2024-25, the total sales value reached Rs 3,052 crore, compared to Rs 3,189 crore in the same period of financial year 2023-24.

• Avenue Supermarts: The company has signed a transaction document to acquire a 26% stake in the equity share capital of FP Ampere Energy Pvt. Ltd.

• Hero Motors: The company withdraws its draft papers for Rs 900 crore IPO.

• TIL: The company has successfully renewed its dealer sales and service agreement with Hyster-Yale AsiaPacific Pte. Ltd. This will be effective retrospectively from June 1, 2024 for a period of five years.

• UCO Bank: The bank’s Asset Liability Management Committee has assessed the benchmark rates and opted to revise the Treasury bill-linked lending rate. The updated TBLR will take effect on Oct. 10, 2024. Other benchmark rates, including the MCLR, repo-linked rate, base rate, and BPLR, will remain unchanged.

• ICICI Bank: The bank has fully redeemed the outstanding notes for a total amount of $153.150 million on Oct. 7, 2024.

• FSN E-Commerce Ventures: Nykaa has reported consolidated net revenue growth in the mid-twenties for the second quarter of fiscal 2025. The beauty vertical has achieved mid-twenties growth in both net revenue and net sales value, with gross merchandise value growth even higher. In contrast, the fashion vertical's net sales value growth is approximately in the early teens.

• Jubilant Ingrevia: The company on Monday issued commercial papers of Rs. 100 crore. 

• Prestige Estates Projects: The company is providing a corporate guarantee for a credit facility of up to Rs 1,840 crore that is being utilised by its wholly owned subsidiary, Prestige Mulund Realty Pvt. Ltd.

• Lemon Tree Hotels: The company has signed a license agreement for the Lemon Tree Hotel in Udaipur, Rajasthan. The property will be managed by Carnation Hotels Pvt. Ltd., a wholly owned subsidiary of Lemon Tree Hotels Ltd., and is anticipated to open in fiscal 2027.

• RITES: The company gets an $5.4 million contract from Ntokoto Rail Holdings.

• Crompton Greaves Consumer Electricals: The Supreme Court has dismissed a plea in the trademark infringement case involving V-Guard.

Garuda Construction and Engineering: The company will offer its shares for bidding on Oct. 8 till Oct 10. The price band is set from Rs 92 to Rs 95 per share. The Rs 264 crore IPO issue is a mix of a fresh issue of 1.83 crore equity shares and an offer for sale of 95 lakh equity shares.

Shiv Texchem: The company will offer its shares for bidding on Oct. 8. The Rs 101.35 crore IPO will have a price band of Rs 158 to 166 per share. The IPO proceeds will be utilised to meet long-term working capital requirements and general corporate purposes.