Stocks To Watch Today: Adani Enterprises, CEAT, Hero MotoCorp & More

Among Adani Enterprises, CEAT, Trent, Mastek, Hero MotoCorp and JSW Infrastructure, here are the top 10 stocks to watch today.

Adani Enterprises

The company acknowledged Abu Dhabi conglomerate International Holding Company's (IHC) decision to increase its investment in Adani Enterprises Ltd (AEL). This decision further solidifies AEL's position as a global leader in the incubation of start-up companies, particularly in the fields of sustainable infrastructure, the development of international aviation infrastructure, and equitable energy transition.

"We see IHC's increased stake as a ringing endorsement of our robust capex plans, governance and transparency. This inter-generational relationship with IHC reflects well on India's dynamic growth potential and offers substantial returns to our stakeholders," said a spokesperson, Adani Group.

Karnataka Bank

KBL Sal Ultimate, KBL Sal Delite, and KBL Sal Pride are the three variations of savings accounts launched by Karnataka Bank on Tuesday in the corporate salary category. These variations have been developed to satisfy the financial needs and goals of salaried employees under the corporate category.

Account holders would receive personal accident insurance coverage of Rs. 50.00 Lakhs under KBL Corporate Salary schemes. Customers may also access domestic and international airport lounges with the Premium Debit Card, which also satisfies their lifestyle and health goals. The zero balance savings accounts for salaried professionals also include incentives like waived processing fees for home, personal, and car loans, hospital cash benefits up to Rs. 60,000, and jewellery insurance up to Rs. 2 lakhs.

CEAT

The world's leading tyre maker, CEAT Ltd., received the Deming Grand Prize on Tuesday, making it the first tyre company to do so in 2023. CEAT Ltd. is the largest tyre producer in India. CEAT has been pursuing TQM for more than fifteen years, and in 2017, it became the first tyre manufacturer outside of Japan to be awarded the attractive Deming Prize.

Mr. Anant Goenka, Vice Chairman, CEAT Ltd., said "We're deeply honoured by the Deming Grand Prize. This accolade underscores our unwavering commitment to excellence. Our gratitude goes to our invaluable partners and vendors for their steadfast support. This achievement inspires us to continue leading the tyre manufacturing industry worldwide, focusing on quality and customer satisfaction."
Mr. Arnab Banerjee, MD & CEO, CEAT Ltd., said "We are extremely delighted with this achievement.

Winning this prize reflects our robust business systems and processes, leading to the creation of highly reliable and dependable products and services every time. This is delivered through involvement of every employee and all stakeholders making it truly partnership based. We believe that CEAT's customer-centric approach and superior quality standards have played a critical role in winning us this honour."

Trent

On Tuesday, Booker India Limited (BIL), a subsidiary of the company acquired approximately 4.95% of the equity share capital of its subsidiary, Fiora Online Limited (FOL) from a shareholder. The acquisition of FOL equity shares by BIL has been made for a cash consideration of Rs 4.10 Crores and post this acquisition, the shareholding of BIL has increased to 100.00% of equity share capital of FOL. Consequently, FOL becomes a wholly owned subsidiary of BIL, as per a stock exchange filing.

JSW Infrastructure

According to a release from Moody's dated October 3, 2023, the company's corporate family rating (CFR) and senior secured notes rating have been raised to Ba1 from Ba2, and the outlook has been changed to stable from positive.

Mastek

Mastek said that it has won the ISG Paragon Awards North America in the field of "Environment Sustainability." The award acknowledges Mastek's noteworthy contributions to environmental sustainability for its clients, the Arizona Department of Forestry and Fire Management (ADFFM).

"We were able to establish a strong spirit of collaboration with Mastek that made everything work out so well," said Wolfgang Grunberg, GIS and Data Supervisor, ADFFM. He further added, "We can finally summarize how many acres were treated and see at a glance what funds were allocated. We are happy that the project was recognized by ISG."

"Congratulations to Mastek for earning a 2023 ISG Paragon Award for North America for their innovative work with the Arizona Department of Forestry and Fire Management," said Todd Lavieri, Partner and President, ISG Americas and Asia Pacific. "Providers and enterprises are continuously finding new ways to complement each other's strengths and overcome business challenges together. ISG is honored to recognize the Mastek/ADFFM partnership for achieving outstanding environmental impacts."

Hiral Chandrana, CEO at Mastek Group said, "We are delighted to receive this esteemed honor from ISG. Mastek has always prioritized technology and innovative approaches as key drivers of sustainable growth and business excellence. We also extend our heartfelt congratulations to our valued client, ADFFM, for their commitment and collaborative efforts in fostering a sustainable environment for people and our planet."

Raymond

At their meeting on October 3, 2023, the Board of Directors of Raymond Limited gave their approval to invest up to Rs. 301 crore in Ten X Realty Limited (TXRL), a step-down wholly-owned subsidiary of the company. The company would spend up to Rs. 125 crore of the aforementioned investment in the form of redeemable preference shares, subject to any final terms that may be settled upon and accepted. Inter Corporate Deposits (ICDs) would be given to TXRL in order to invest the remaining Rs. 176 Crore.

Pidilite Industries

Pidilite MEA Chemicals LLC (Pidilite MEA), a wholly-owned subsidiary of the Company and M/s. Corporacion Empresarial Grupo Puma SL, Spain (Grupo Puma, Spain) incorporated a joint venture Company in UAE in the name of "PidilitePuma MEA Chemicals L.L.C." (PidilitePuma) on 2nd October 2023 to conduct the business of manufacture of construction chemicals. Each of Pidilite MEA and Grupo Puma, Spain shall hold 50% of the paid-up capital in PidilitePuma, as per a stock exchange filing.

Hero MotoCorp

On Tuesday, Hero MotoCorp announced plans to start delivering its first co-developed high-end Harley-Davidson X440 motorcycle on the auspicious first day of the Navratri festival, or on October 15, 2023. In the state of Rajasthan in northern India, a manufacturing facility owned by Hero MotoCorp known as the Garden Factory is currently manufacturing the Harley-Davidson X440. Since September 1, 2023, the company has begun scheduling test drives for customers who have made bookings.

Customers can book the Harley-Davidson X440 at all Harley-Davidson dealerships and a handful of select Hero MotoCorp outlets nationwide beginning on October 16. The motorcycle may also be reserved online by customers by going to www.Harley-Davidsonx440.com.

The Harley-Davidson X440 has captured the attention of premium sector customers across India since it was introduced in July 2023, resulting in over 25000 bookings in just one month. Hero MotoCorp was forced to temporarily close the online booking window in order to serve the first wave of customers.

APL Apollo Tubes

In Q2FY24, APL Apollo Tubes Limited (APL Apollo) reported sales of 674,761 Ton. This is the company's highest-ever recorded quarterly sales volume. The company recorded a sales volume of 1,336,262 Ton for H1FY24, a 30% YoY growth. In Q2FY24, the value-added segment's contribution remained steady at 55%.

" APL Apollo's strategy of de-commoditization is intact. The sales mix will improve further in coming quarters with rising contribution of innovative products. We are encouraged to see strong sales growth in the heavy structural steel tubes. The sales mix should eventually move towards 70% for value added products," said the company in a stock exchange filing.