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Stocks to Watch: Automobile stocks, IndusInd Bank, HUL, BEML, Dredging Corp, RailTel, AU Small Finance Bank & Lemon Tree
BusinessLine· 2025-11-03 03:20
Group 1: Automotive Industry Performance - Improved consumer sentiment in India, driven by GST 2.0 reforms, discounts, OEM offerings, and financing schemes, led to decent sales by Indian auto makers in October [1] - Maruti Suzuki India reported a double-digit increase in domestic wholesales to 176,318 units in October, compared to 159,591 units in the same month last year [1] - Mahindra & Mahindra reported domestic wholesales of 71,624 units, a 31% year-on-year increase from 54,504 units [2] - Tata Motors saw a 27% year-on-year growth to 61,134 units in October, attributed to record electric vehicle wholesales, which increased by 73% year-on-year to 9,286 units [2] - Hyundai Motor India Ltd reported total sales of 69,894 units in October, including domestic sales of 53,792 units and exports of 16,102 units [2] - TVS Motor Company achieved total sales of 543,000 units, an 11% year-on-year increase from 489,000 units [2] - Escorts Kubota Ltd reported a 3.8% rise in total tractor sales to 18,798 units in October compared to the same month last year [2] Group 2: Corporate Developments - IndusInd International Holdings Ltd and Invesco Ltd completed the formation of their asset management joint venture, with IIHL acquiring a 60% stake in Invesco Asset Management India [3] - Hindustan Unilever received a tax notice for ₹1,986.25 crore from the Income Tax Department, disputing the valuation of certain related-party transactions [4] - BEML Ltd and Dredging Corporation of India Ltd signed three MoUs worth approximately ₹350 crore to enhance India's maritime and dredging capabilities [5] - Responsive Industries successfully executed the first phase of the Kaiga Generating Station Power Plant, using in-house manufactured waterproofing membranes [6] - CFF Fluid Control received a contract for procurement of equipment for the P75 Project from the Indian Navy, totaling approximately ₹10.95 crore [7] - Titagarh Rail Systems Ltd secured a ₹2,481-crore contract from MMRDA for the design and supply of metro coaches for Mumbai Metro Line 5 [8] - RailTel Corporation of India Ltd received a Letter of Acceptance from Rajasthan Council of School Education for ₹32,431,600 [9] - Lemon Tree Hotels launched a new property in Motihari, Bihar, marking its expansion in Eastern India [13]