Top Stocks to Watch On October 8: HDFC Bank, Puravankara, IRCON, HEG, Mindteck, Tata Motors, Cholamandalam Investment, Vedanta

Top Stocks to Watch On October 8: The Indian stock market may begin the day on a flat note today as indicated by the GIFT Nifty.

On Tuesday, October 8 there are several stocks to watch today that can give you high returns, some of these stocks are HDFC Bank, Puravankara, IRCON, HEG, Mindteck, Tata Motors, Cholamandalam Investment, and Vedanta.

Let’s get into a more detailed view of these stocks:

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HDFC Bank

The biggest public sector lender reported that it has received approval from its boards for a Rs 192 crore sale of its 100% stake in HDFC Education and Development Services Private Ltd (HDFC Edu) to Vama Sundari Investments (Delhi) Private Ltd.

Reserve Bank of India (RBI) ordered that HDFC Bank is required to fully exit from its HDFC Edu within two years of merging with e-HDFC Ltd and the final limit is set for June 30, 2025.

Puravankara

The real estate development company reported that it has acquired a 3-acre, 4-gunta of land in North Bengaluru through a sale contract. This land will be used for a residential project.

The company added, "We write to inform that Puravankara Group entity, in its normal course of business has entered into a sale deed for acquiring 3 acres 4 guntas of land parcel located at North Bangalore for developing a residential project.”

IRCON

The government-owned construction company said that its contractor Apex Buildsys Ltd has filed a ₹38.71 crore claim which is currently under arbitration.

The claims are related to the construction work which was done at the Rail Coach Factory in Raebareli. This includes facilities like wheel, bogie, paint, and machine shops.

HEG

The graphite electrode manufacturer reported that it has acquired an 8.23% stake in GrafTech International Ltd which manufactures graphite electrodes and is listed on the New York Stock Exchange. This deal was made through a secondary market transaction and the total worth is Rs 248.62 crore.

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Mindteck

In an exchange statement, the engineering and technology solutions company reported that their shareholders will get one extra share for every four shares they already own. The issue of bonus shares has been approved by both BSE Ltd and the National Stock Exchange of India Ltd.

The date of record for bonus shares is September 20, 2024.

Tata Motors

The company sold 1,03,108 units in Q2 FY25 which is a decline of 3% in its retail sales compared to the previous year. The company reported that retail sales for the first half of the fiscal year increased by 3% to 2,14,288 units compared to a year ago period.

Cholamandalam Investment

The equipment financing company reported that it has appointed Ravindra Kumar Kundu as its new Managing Director, he will begin his five-year term on Monday.

Vedanta

The multinational mining company reported a board meeting on October 8 to discuss and approve the fourth interim dividend for 2024–25.

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