Stocks To Watch: Trident, Saregama India, Grasim Industries, Jubilant Pharmova & More

Hot stocks including Coal India, SAIL, ONGC, and Grasim Industries are probably going to be in the spotlight for market observers on Monday, November 13.

Saregama India

The company has acquired 3,70,742 securities representing approximately 51.82% of the issued and paid share capital of Pocket Aces for a total sale consideration of Rs 165.61 Crores paid towards various shareholders of Pocket Aces, as first tranche sale consideration. Following the transaction, Pocket Aces has become a material subsidiary of Saregama India Limited as per the Regulations of SEBI.

Shyam Metalics and Energy

The company has posted a revenue from operations of Rs. 2,941 crores during Q2FY24 down by 4.7% YoY from Rs 3,085.2 Cr in Q2FY23. Its EBITDA reached Rs 307.1 during the quarter under review up by 26.1% YoY from Rs 243.6 Cr reported in the same quarter of FY23. The company's net profit stood at Rs 482.0 Cr in Q2FY24 up by 334.6% YoY from Rs 110.9 Cr in Q2FY23.

Trident

The Indian government's Patent Office has awarded a patent to Trident Limited for "Terry Fabric Weave and Resulting Terry Fabric." The firm will be able to produce towels with better material efficiency, absorbency, pull resistance, softness, and texture consistency thanks to this development.

Genus Power Infrastructures

The company has incorporated a wholly-owned step-down subsidiary, namely Kanpur Jhansi Banda Smart Metering Private Limited with an authorized share capital of Rs 1 lakh. It is incorporated as SPV for the execution of the Advanced Metering Infrastructure Service Provider (AMISP) contract.

Jubilant Pharmova

The US FDA has approved Jubilant Pharmova Limited's abbreviated new drug application (ANDA), which was submitted in accordance with section 505(j) of the Federal Food, Drug, and Cosmetic Act (FD&C) for a kit to prepare Technetium (Tc 99m) Sulphur Colloid Injection. Jubilant Draximage Inc., the company's wholly-owned subsidiary, made this announcement. Jubilant is entitled to 180 days of exclusivity for this clearance because of the US FDA's "Competitive Generic Therapy" categorization.

Grasim Industries

On Monday, Grasim Industries Ltd. will release its quarterly results for the period of September.

Oil and Natural Gas Corporation (ONGC)

In comparison to the Rs 6830.16 crore recorded during the second quarter of FY23, the company's second-quarter profit for FY24 was reported at Rs 16,553.32 crore, a 142.4% growth. Compared to Rs 168,656.12 crore in the same time previous year, the revenue from operations of Rs 146,873.73 crore in Q2FY24 represented a 12.9% fall.

Coal India

According to the regulatory filing on NSE, the company reported a 12.5 per cent rise in consolidated net profit to Rs 6,799.77 crore for the second quarter of FY24 from Rs 6,043.55 in Q2FY23. The total revenue for Coal India jumped from Rs 27,538.59 crore in Q2FY23 to Rs 29,978.01 crore in Q2FY24.

Steel Authority of India Limited (SAIL)

For the September quarter of 2023-24, the firm reported a consolidated net profit of Rs 1,305.59 crore. It had suffered a net loss of Rs 329.36 crore from July to September quarter of the previous year. The total income went up from Rs 26,642.02 crore in the same period last year to Rs 29,858.19 crore in Q2FY24.