Godrej Consumer, Welspun Corp, Poonawalla Fincorp, Paytm: Top stocks to watch for December 9 – CNBC TV18
1 / 14Godrej Consumer Products | Inflationary environment has created pressure on margins. Expect mid-single digit sales growth this quarter. Demand conditions have remained subdued over the last few months. Surge in palm oil and derivatives prices to the extent of 20-30% year-on-year has impacted the soap category, which contributes to about 1/3rd of the total standalone business. Expect Underlying volume growth to be flattish for the standalone business. GAUM will see fourth straight quarter of healthy margins.
2 / 14Biocon | API facility (Site 2) in Bengaluru gets Voluntary Action Indicated (VAI) status. Surveillance inspection was conducted between September 23-27, 2024.
3 / 14Welspun Corp | Bags two more orders in the US for the supply of HSAW and supply of coated pipes. Value of cumulative orders received by the US plant until Q3 FY25 has now crossed ₹7,000 crore. Outlook for US markets remains ‘extremely positive’ for next couple of years.
4 / 14Suven Pharma | Acquires 56% stake in US-based NJ Bio. Suven proposes to invest a total of $64.4 million, which includes a $15 million primary equity infusion into NJ Bio for growth initiatives.
5 / 14Poonawalla Fincorp | Dhiraj Saxena resigns as Chief Technology Officer due to harassment from Chief Human Resource Officer (CHRO).
6 / 14Delta Corp | Revises deal between itself and Deltin Hotels & Resorts. The Hospitality and Real Estate business will be demerged into Delta Penland. There is no change in the share entitlement ratio, which remains at 1:1.
7 / 14Paytm | Issues clarification on report of selling stake in Japan’s PayPay to SoftBank for $250 million. The company said that the board has approved the sale of Stock Acquisition Rights in PayPay to SoftBank for ₹2,364 crore. This transaction will increase the company’s cash balance.
8 / 14Easy Trip Planners | Signs share purchase agreement to acquire 49% stake in Pflege for ₹30 crore. UAE-based Pflege is engaged in the business of Medical Tourism. Will also acquire a 50% stake in Jeewani Hospitality for ₹100 crore and 49% stake in Australia-based Planet Education for ₹39.2 crore.
9 / 14JSW Energy | Arm gets Letter of Award from NTPC to set up a 400 MW Solar Power Project.
10 / 14CEAT | To acquire Camso Brand off-Highway tyres and tracks business from Michelin for $225 million.
11 / 14Bajaj Healthcare | Vadodara-based API manufacturing site gets approval from the Therapeutic Goods Administration, Australia, which is valid for 24 months. The site already has US and EU regulatory approvals.
12 / 14Star Health Insurance | Gets show cause notice from IRDAI for non-compliance with various guidelines. The company was inspected between January 31-February 11, 2022. Company has been given 21 days to reply with supporting documents. Company said it is in the process of providing adequate replies to alleged violations. The company said that it is confident there will not be any impact but it cannot be predicted with certainty at this stage.
13 / 14Laurus Labs | Board approves investment of ₹40 crore in Laurus Bio. Board also approves execution of definitive agreements with Eight Roads Venture & F-Prime Capital, who will invest ₹120 crore in Laurus Bio. Shareholding of investors and Laurus Labs in Laurus Bio now stands at 13.73% and 74.64% respectively. Both have right to make additional investment of up to ₹35 crore in Laurus Bio till December 2025.
14 / 14Reliance Power | Unit Samalkot Power paid in full outstanding interest in default on term loan with Export-Import Bank of the US. Actual amount involved in the default at $15.48 million.
