5 Stocks To Watch On April 9

Tata Motors

The automobile major announced robust performance of its Jaguar Land Rover (JLR) segment for the end of FY24, with wholesales reaching 4 lakh units, a 25 per cent increase year-on-year. In March quarter FY24, wholesale volumes of 1.1 lakh units were up 16 per cent compared to the same quarter a year-ago. JLR reported over 20 per cent YoY growth in its full-year sales on improved production and sustained global demand.

Axis Bank

Private equity major Bain Capital is expected to sell up to 3.34 crore shares of the private bank through block deal. The offer size is substantial at $431 million, with the offer price range between Rs 1,071 to Rs 1,076.05 per share, a discount of nil to 0.5 per cent from Monday’s closing price of Rs 1,076.05.

Gland Pharma

Shareholders Nicomac Machinery and RP Advisory Services intend to sell up to 4.4 per cent stake in the drug firm for Rs 1,400 crore through a block deal. The floor price for the block deal has been fixed at Rs 1,725 per share, which is at 7.2 per cent discount to the closing price of Rs 1,859.6 per share on April 8.

Sula Vineyards

The company reported a double-digit revenue growth for both the fourth quarter and FY24. Net revenue increased by 10% YoY to Rs 131.8 crore in March quarter, driven by growth in sales from own brands and wine tourism. The company also announced the acquisition of ND Wines.

RBL Bank

Citigroup Global Markets Mauritius has acquired 66.97 lakh equity shares or 1.11 per cent stake in the private sector lender at an average price of Rs 255.4 per share through open market transactions, amounting to Rs 171.04 crore. Copthall Mauritius Investment was the seller in the deal.