Top Stocks to Watch: Market Movers for Friday, July 5, 2024
HDFC Bank, LIC, Arvind SmartSpaces, and Mahindra Lifespace Developers make headlines with impressive Q1 performances and strategic business moves.
Hdfc BankLicArvind SmartspacesPersistent SystemsMahindra Lifespace DevelopersStocks To WatchIndian Stock MarketReal EstateDemergerReal Estate PuneJul 05, 2024
HDFC Bank reported a 53% year-on-year increase in its gross advances, reaching Rs 24.87 lakh crore. Excluding the impact of the merger of erstwhile HDFC with the bank on July 1, 2023, the bank’s gross advances grew by 15% over the same period last year.
Life Insurance Corporation of India (LIC) announced that it has raised its shareholding in IDFC First Bank by 0.2% to 2.68% of the bank's post-issue paid-up capital.
Arvind SmartSpaces, the real estate development company of the Lalbhai Group, plans to concentrate on residential real estate projects in Ahmedabad, Surat, Pune, Mumbai, and Bangalore for FY25. The company aims to add new inventory worth Rs 4,500 – 5,000 crore to its portfolio.
Persistent Systems Inc., a wholly-owned subsidiary of Persistent Systems, based in the USA, has entered into a stock purchase agreement to acquire Starfish Associates, LLC, which specializes in unified communication and contact center technology.
Mahindra Lifespace Developers has acquired land in Bengaluru and secured a redevelopment project in Mumbai, with a combined revenue potential of Rs 2,050 crore.
Additionally, Punjab National Bank reported a strong Q1 performance, with a 3.8% quarter-on-quarter growth and a 10.3% year-on-year increase in its global business. Raymond has approved the demerger of its real estate arm, Raymond Realty, with the aim of benefiting from the growing real estate market.
Lastly, Bajaj Auto is set to introduce its first-ever motorcycle that runs on both CNG and petrol, dubbed the 'Freedom 125', which is scheduled to launch on July 5.
These stocks are likely to be in focus today, and investors should keep a close eye on their performance.
HDFC Bank is one of India's largest private sector banks, with a presence in over 3,000 towns and cities across the country.
Life Insurance Corporation of India (LIC) is the largest life insurer in India, with a market share of over 70%.
Arvind SmartSpaces is a real estate development company that focuses on residential and commercial projects in India.
Persistent Systems is a global technology services company that specializes in digital transformation and enterprise software solutions.
Mahindra Lifespace Developers is a leading real estate developer in India, with a presence in multiple cities across the country.
Punjab National Bank is one of India's largest public sector banks, with a network of over 7,000 branches.
Raymond is a leading garment maker in India, with a presence in over 40 countries.
Bajaj Auto is one of India's largest two-wheeler manufacturers, with a presence in over 70 countries.
Frequently Asked Questions
What was HDFC Bank's gross advance growth in Q1?
HDFC Bank reported a 53% year-on-year increase in its gross advances, reaching Rs 24.87 lakh crore.
What is Arvind SmartSpaces' focus area for FY25?
Arvind SmartSpaces plans to concentrate on residential real estate projects in Ahmedabad, Surat, Pune, Mumbai, and Bangalore for FY25.
What is Persistent Systems' latest acquisition?
Persistent Systems Inc. has entered into a stock purchase agreement to acquire Starfish Associates, LLC, which specializes in unified communication and contact center technology.
What is Mahindra Lifespace Developers' latest project?
Mahindra Lifespace Developers has acquired land in Bengaluru and secured a redevelopment project in Mumbai, with a combined revenue potential of Rs 2,050 crore.
What is Bajaj Auto's latest product launch?
Bajaj Auto is set to introduce its first-ever motorcycle that runs on both CNG and petrol, dubbed the 'Freedom 125', which is scheduled to launch on July 5.
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