SpiceJet to SBI: Stocks to watch on September 26, 2024

Shares of SpiceJet, SBI, HDFC Bank, Adani Green, and Vedanta, among others, will be in the spotlight today as a result of numerous news developments.

Markets had a tumultuous session on Wednesday, but they managed to prolong their upward trend with a powerful rise at the close. Shares of SpiceJet, SBI, HDFC Bank, Adani Green, and Vedanta, among others, will be in the spotlight today as a result of numerous news developments.

HDFC Bank's loan growth may fall below 10% YoY in Q2FY25 due to portfolio management techniques, according to a Macquarie research report. The bank is working to reduce its loan-deposit ratio and increase net interest margins. Separately, UBS Group purchased nearly Rs 543 crore in HDFC Bank shares in an open market transaction, acquiring 30.72 lakh shares at Rs 1,768.05.

SpiceJet's Chairman Ajay Singh said the airline plans to increase its fleet to 100 aircraft by 2026. This news followed the airline's successful Rs 3,000 crore fundraising via qualified institutional placement (QIP). Singh mentioned the Boeing 737 Max grounding and the COVID-19 outbreak as big difficulties, but he remains confident in the airline's foundations.

State Bank of India (SBI) intends to be the first Indian financial firm to achieve a net profit of Rs 1 trillion within the next 3-5 years, according to the bank's chairman C S Setty. With a standalone net profit of Rs 61,077 crore in FY24, up 21.59 percent year on year, the bank is focusing on combining profit growth with customer-centric operations. A strong loan pipeline of Rs 4 trillion from corporate clients is expected, notably in the infrastructure sector.

Piramal Pharma's Chairperson, Nandini Piramal, stated that the pharmaceutical company intends to double its revenue to $2 billion by FY30 while triple its Ebitda. The company intends to keep its net debt to Ebitda ratio at 1x by FY30. Their CDMO category is predicted to expand significantly, driven by rising demand, particularly as a result of the potential impact of the US Biosecurity Act.

Vedanta's board will meet on October 8 to examine a potential fourth interim dividend for fiscal year 25. The company has already announced a total dividend of Rs 13,474 crore this fiscal year, demonstrating outstanding shareholder returns. Vedanta Resources intends to lower its debt by up to $3 billion in the next three years.

Titan: The company's fragrance branch, SKINN Fragrances, has developed a new cheap brand, 24Seven, aimed toward younger consumers. The company intends to add 2.5 million subscribers by FY25.

Bharti Airtel is launching an AI-powered technology to detect spam calls and messages, enhancing user safety and perhaps increasing customer satisfaction and retention.

Adani Enterprises: Gautam Adani's meeting with Bombardier's CEO about improving India's aviation capabilities, particularly in MRO services and defense, indicates prospective growth opportunities in the aviation industry.