TVS Motor Company, Bhagiradha Chemicals & Industries, Cipla, Birlasoft


Equities opened higher in Japan, South Korea and Australia, though the gains were more modest than futures had suggested earlier. Contracts for the S&P 500 and Nasdaq 100 fell, as did European stock futures, after the shares on Wall Street snapped a four-day slide on Friday.

Investor appetite soured, sending US equity futures and commodities lower after China affirmed its Covid-Zero policy stance. The dollar advanced against major currencies on its appeal as a haven asset. 

Oil slumped around 2%, leading falls in commodities on the prospect of weaker demand from China.

On Friday, India’s stock benchmarks sustained gains for three weeks in a row aided by weekly gains in metals, PSU banks and media stocks.

At 6:35 a.m., the Singapore-traded SGX Nifty — an early barometer of India’s benchmark Nifty 50 — gained 0.54% to 18,301.

Stocks To Watch

  • TVS Motor Company: The board approved issue of zero-coupon debentures up to Rs 310 crore to subsidiary Sundaram Auto Components.

  • Bhagiradha Chemicals & Industries: The board declared dividend of Re. 1 per equity share of face value of Rs 10.

  • Cipla: The board decided not to proceed with the transfer of India-based U.S. business undertaking.

  • Escorts Kubota: The company will buy rough terrain crane business and the associated equipment and parts from Tadano Escorts India for Rs 16.59 crore. The company will also sell 49% stake in Tadano.

  • Birlasoft: Dharmender Kapoor resigns as managing director and chief executive officer. Company appointed Angan Guha as CEO and MD, effective Dec. 1, 2022.

  • IDFC First Bank: The board approved plan to raise Rs 4,000 crore Tier-1 capital via issuance of equity share.

  • Reliance Industries: Veteran banker K.V. Kamath has been appointed non-executive chairman of the company’s financial services arm Reliance Strategic Investments, which is soon to be demerged and listed as Jio Financial Services.

  • Indian Railway Finance Corporation: The board will convene on Nov. 10, 2022 to consider interim dividend for the current financial year.

  • Bank of India: The board approved Raising of Tier-1 capital via issue of AT-1 bonds worth Rs 2,500 crore.

  • Mahanagar Gas: The company increased CNG price by Rs 3.50 per kg, and domestic PNG price by Rs 1.50 per SCM in its license areas spread in and around Mumbai.

  • Jagran Prakashan: The company announced a Rs 345-crore buyback plan, where it will buy back 4.6 crore equity shares at Rs 75 apiece via tender offer route. The buyback size represents 17.45% of company’s total equity shares.

  • Vidhi Specialty Food: The board will meet on Nov. 11 to consider the first interim dividend for the current fiscal.

Adani Ports and Special Economic Zone: October business update

– The company handled 25 MMT cargo in October.

– Daily average volumes improved to 1 MMT in second half of the month.

– APSEZ recorded 203 MMT cargo volume during April-October period, amounting to a growth of 10% year-on-year.


  • Fusion MicroFinance: The issue was subscribed 2.95 times on the final day. The QIB portion was subscribed 8.59 times. The non-institutional investors basket was subscribed 1.38 times, while retail investors placed bids for only 51% of their portion.

  • Bikaji Foods International: The issue was subscribed 1.48 times on the second day. The QIB portion was subscribed 3%, whereas the non-institutional basket was subscribed 1.42 times. Retail investor portion was subscribed 2.33 times, while employees of the company bid for 1.41 times of the portion reserved for them.

  • Global Health: The IPO received bids for 49% of its total size on the second day. Institutional buyers placed bids for 56% of their basket. The baskets for non-institutional and retail investors saw 96% and 25% subscription, respectively.


Aditya Birla Capital, Affle (India), Alkyl Amines Chemicals, Automotive Axles, Bannari Amman Sugars, BLS International Services, Bharat Petroleum Corporation, Ceat, Cera Sanitaryware, Coal India, Divi’s Laboratories, Endurance Technologies, India Cements, KEC International, K.P.R. Mill, Mold-Tek Packaging, One 97 Communications, PB Fintech, Privi Speciality Chemicals, RateGain Travel Technologies, Sansera Engineering, Sequent Scientific, Sun Pharma Advanced Research Company, Sundaram-Clayton, Tata Teleservices (Maharashtra), Ujjivan Small Finance Bank, Vinati Organics


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