Auto stocks in focus on February 1st as they release monthly sales numbers for January 2024.
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- Tata Motors, Mahindra & Mahindra, Bajaj Auto, Maruti Suzuki, Hero MotoCorp, Eicher Motors, Ashok Leyland, TVS Motor Company, and Escorts will all release their monthly sales numbers for January 2024 on February 1st.
- Investors will be looking for signs of how the Indian auto industry is performing, as it has been facing challenges such as rising input costs and a slowdown in demand.
One 97 Communications (Paytm) faces action from the RBI.
- The Reserve Bank of India has taken action against Paytm Payments Bank, saying no further deposits, credit transactions, or top-ups will be allowed in any customer accounts after February 29, 2024.
- The nodal accounts of One97 Communications and Paytm Payments Services are to be terminated at the earliest, in any case not later than February 29, 2024.
Glenmark joins hands with Pfizer to launch Abrocitinib in India.
- Glenmark has joined hands with Pfizer to launch Abrocitinib in India.
- Abrocitinib is used for the treatment of moderate-to-severe atopic dermatitis.
- It has received marketing authorization from the Central Drugs Standard Control Organization (CDSCO) in India and is approved by the US Food and Drug Administration (FDA), European Medicines Agency (EMA), and other regulatory agencies.
Shree Cement records strong profit growth.
- The cement company has recorded 165 percent on-year growth in standalone net profit at Rs 734 crore for the quarter ended December FY24.
- This was driven by improved realization and cost reduction amidst robust demand growth.
Thomas Cook (India) sees strong profit growth.
- The omnichannel travel company registered a 241 percent year-on-year growth in consolidated profit at Rs 90.5 crore during the quarter ended December FY24.
- This was partly driven by other income and topline.
Godrej Consumer Products reports healthy operating numbers.
- The FMCG company has registered a 6.4 percent on-year growth in consolidated profit at Rs 581 crore for the October-December period of FY24.
- This was driven by healthy operating numbers.
Other news:
- India Pesticides: Quant Mutual Fund and Quant Active Fund sold shares in the company.
- Religare Enterprises: Burman family firms bought shares in the company, while a non-resident Indian investor sold shares.
- Jindal Steel & Power: The company recorded strong profit growth for the quarter ended December FY24.
- Ajanta Pharma: The company reported healthy operating numbers and profit growth for the October-December period of FY24.
- Indus Towers: KKR and CPP are likely to sell shares in the company via block deal.
- Gujarat Gas: The company signed an MoU with Hindustan Petroleum Corporation.
- Dixon Technologies: The company reported strong revenue growth and profit growth for the October-December quarter of FY24.
- Punjab & Sind Bank: The bank reported a decline in net profit for the October-December period of FY24.
- Dishman Carbogen Amcis: The company received the Attestation of Inspection from the EDQM Authority.
- Federal-Mogul Goetze: Vinod Kumar Hans resigned as managing director, and T. Kannan was appointed as the new managing director.
- Data Patterns (India): The company recorded profit growth for the quarter ended December FY24.
- DCM Shriram: The company recorded a decline in net profit for the quarter ended December FY24.
