Stocks To Watch: Jana SFB, Dr. Lal PathLabs, Jupiter Wagons, TVS Motor Company & More

On Thursday, 21st March hot stocks like TVS Motor Company, Aster DM Healthcare, Wipro, Dr. Lal PathLabs are among the top stocks that market watchers are probably going to keep an eye on.

Castrol India

Castrol said on Wednesday that Shah Rukh Khan, the renowned actor from Bollywood, will serve as its brand ambassador. In supplying high-performance lubricants, Castrol India has taken a major step forward with this partnership. Shah Rukh Khan will appear in the web, print, and television advertisements for bp and Castrol over the course of the next two years, demonstrating their extensive product lines.

TVS Motor Company

TVS Motor Company (TVSM) has announced that two new independent directors have been appointed to the board, subject to shareholder approval. Mr. Shailesh Haribhakti, chairman of Shailesh Haribhakti & Associates, and Mr. Vijay Sankar, chairman of the Sanmar Group, both based in Chennai, will join the board as independent directors. The company's Independent Director, Mr. Kuok Meng Xiong, will resign from his position with effect from the close of business on the day of the upcoming Annual General Meeting in 2024.

Aster DM Healthcare

Aster DM Healthcare Limited declared that the division of its operations into India and the GCC, as well as the planned investment in the GCC company by a group of investors headed by the UAE-based sovereign-owned private equity firm Fajr Capital, are nearing completion. Corporate authorization was obtained in November 2023 to divide the Company's GCC and India operations into two independent, stand-alone businesses in order to maximize long-term value.

A group led by Fajr Capital signed a formal agreement to purchase a 65% stake in the company's GCC operations as part of the separation plan. The company's shareholders gave their approval to the proposal in January 2024. By FY27, the company aims to have added 1500 beds and rank among India's top 3 hospital networks. A combination of brownfield and greenfield projects will be included in the expansion plan, which will support the company's growth goal. The company has budgeted between Rs. 850 and Rs. 900 crore, which will guarantee strong financial backing for the growth. This development will include the planned Aster MIMS Kasargod, which has 200+ beds, and Aster Capital in Trivandrum, which will have 350+ beds in the first phase by FY26. Subsequently, the company plans to increase the number of beds at Medcity, MIMS Kannur, and Aster Whitefield, which now have 159 beds each, by around 100 beds each.

Wipro

The appointment of Anne-Marie (Annie) Rowland to the position of Chief Executive Officer of Capco has been announced by Wipro. Currently serving as Managing Partner for Capco's UK and Ireland operations, Annie is a part of the company's global leadership team. Starting on April 1, 2024, she will take on the position of CEO. Rowland will join Wipro's Executive Committee (WEC) and report to Thierry Delaporte, CEO and managing director of Wipro, in his position as CEO of Capco.

Jana Small Finance Bank

An appeal by Jana Small Finance Bank against an earlier income tax demand of Rs 73 crore, which included an interest payment of Rs 19 crore, was dismissed by the income tax department on Wednesday. The bank is not anticipating any further cash outflows as a result of the aforementioned ruling because it has already appealed and submitted the appropriate amount of income tax to the income tax authorities.

Dr. Lal PathLabs

The Income Tax Department sent the corporation an Assessment Order and Demand Notice dated March 18, 2024, which it received on March 19, 2024. The company has been informed for the fiscal year 2018-19 that there have been additions and disallowances of Rs 28,78,085 and an income tax demand of Rs 42,02,476.

Jupiter Wagons

For a total of Rs. 271 crore, Jupiter Wagons Limited (JWL) announces the acquisition of Bonatrans India Private Limited (BIPL). By strategically placing itself as the first rolling stock manufacturing company with its own wheel facility, this development represents a major turning point for JWL. With an annual manufacturing capacity of 10,000 axles and 20,000 wheels, the acquisition is expected to increase JWL's operational effectiveness and independence while lowering its reliance on imported wheels. Over the following two years, JWL plans to invest an additional 1000 crores as part of the Made in India project. By making these investments, the production facility will be able to produce more and move closer to complete backward integration. The ultimate objective is to serve the growing demands of the Indian railway industry, with hopes of turning it into an export hub by utilizing JWL's current, reputable partners.