Stocks to watch, Nov 9: Amber Enterprises, MRF, Tata Steel, Tata Chemicals, Cochin Shipyard, pharma stocks

The domestic stock market is expected to open higher on Monday, November 9. The GIFT NIFTY futures suggest that the NIFTY50 index will open 51 points higher.

The proposed IPO is entirely a fresh issue of equity shares, with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) dated November 6.

The company plans to use the proceeds to repay or prepay certain outstanding borrowings, including accrued interest, availed by the company and its subsidiaries, Ascent Circuits and Shogini Technoarts.

The funds will also be used to purchase plant, machinery, and equipment for its manufacturing units, as well as for general corporate purposes.

He noted that housing demand remains "intact" despite concerns about a possible slowdown due to global economic uncertainties.

"We have given guidance for pre-sales at ₹6,500 crore. We have already achieved 40% in the first half of this fiscal. We will be achieving 60% in the second half of this fiscal," Joglekar said.

The company received the seizure memos on November 5. The matter relates to an industry-wide customs tariff classification issue involving certain imported goods and preferential tariff treatment under the India-UK Free Trade Agreement.

The company said it is engaging with the authorities and taking necessary steps to secure the release of the goods. It also clarified that there is currently no material impact or disruption to its business operations.

The major orders include stabilised optronic pedestals, communication equipment, navigation systems, night vision devices, software solutions, components, upgrades, spares and associated services.

The project is valued at ₹600 crore to ₹900 crore, excluding GST.

The scope of work includes design, engineering, manufacturing, supply, erection, testing and commissioning of the equipment. The order is scheduled to be executed within 44 months, according to the company's exchange filing.

The company's board has already approved the purchase of a few vessels, and tenders were issued several months ago, Director of Finance Anuj Jain said during its second-quarter earnings call.

"The country needs oil sector companies to focus more on the shipping area now," Jain said, adding that IOC was also exploring the possibility of building ships in India under the government's Make in India initiative.

The move marks a potential shift in the company's shipping strategy, which has traditionally relied on a mix of time-charter and voyage-chartered vessels. IOC is now examining three approaches: optimising existing charter arrangements, owning ships and supporting domestic shipbuilding.

The pollution control board has also granted a provisional consent order for setting up an industrial plant and manufacturing activities at the site, valid until March 19, 2030. The revocation follows the company's compliance with the directions issued by the authorities.

"We expect to do capex at a run rate of around ₹40,000 crore. So, we may be somewhere in the range of ₹35,000 crore to ₹40,000 crore, which is the rate we expect to continue over the next couple of years," Manan Vakharia, head of finance at Adani Enterprises, said during the company's earnings call.

The planned spending comes as the group seeks to scale up businesses built over recent years, including airports and data centres, while bringing its large manufacturing investments closer to commercial operation.

SBI: State Bank of India (California), a wholly-owned subsidiary of India’s largest lender State Bank of India (SBI), has inaugurated its new branch in Frisco, Texas.

This opening marks the subsidiary's first physical expansion beyond California, with its US branches now at eight locations.

The company had posted consolidated PAT of Rs 100.1 crore in the corresponding period last year.

The consolidated income of the company during the second quarter rose to Rs 2,097.7 crore from Rs 1,790.1 crore in the year-ago period, KIL said in a statement.

"Our material subsidiary, Kirloskar Ferrous Industries Limited, continued to deliver a resilient performance during the year, supported by operational stability, capacity optimisation and strong demand for its products across the sectors. On the real estate front, our wholly-owned subsidiary, Avante Spaces Limited (ASL), is progressing well.

“Our landmark Kothrud project is going well and moving forward on track, reinforcing our vision of creating premium, future-ready spaces that maximise value for our stakeholders," George Verghese, Managing Director, KIL, has said in a statement.

The company's net profit was ₹154 crore during the corresponding quarter of 2025-26, Tata Chemicals said in a regulatory filing.

Revenue from operations grew by 8% during the quarter under review to ₹4,177 crore compared with ₹3,877 crore during the same period last year.

This growth was mainly driven by higher volumes in India and the US, higher realisation in India, and the temporary suspension of operations in Kenya.

It clocked ₹3,183 crore profit after tax (PAT) in the second quarter of the preceding 2025-26 financial year, the company said in a statement.

During the latest July-September quarter, the company's consolidated revenues increased to ₹65,436 crore from ₹58,689 crore in the year -ago quarter.

The company produced 8.07 million tonnes (MT) and sold 7.92 MT of steel in Q2 FY27 as against 7.73 MT output and 7.91 MT deliveries made in July-September a year ago.

The three investors offloaded more than 11.52 crore shares, representing a combined 1.84% stake in Groww on Friday, as per the data.

US-based Peak XV Partners, through its arm Peak XV Partners Investments VI-1, sold more than 6 crore shares, and Goldman Sachs divested 4,380 shares of Groww on the National Stock Exchange (NSE).

In addition, Y Combinator, through its arm YC Holdings II, LLC, disposed of 5.50 crore shares on the BSE.

SoftBank, through its affiliate SVF II Lightbulb (Cayman) Ltd, offloaded 2.72 crore shares in 10 tranches at an average price of ₹697.15 apiece on Friday.

The combined deal transaction stood at ₹1,896.24 crore.

After the transaction, SoftBank's stake in Gurugram-based Lenskart fell to 5.71% from 7.27%.

A clutch of domestic and foreign institutional investors picked up an equal number of shares at the same price. US-based Goldman Sachs emerged as the largest buyer, acquiring 91.84 lakh shares worth over ₹640 crore.

The company reported a net profit of ₹74.19 crore for the July-September quarter a year ago, according to a regulatory filing by Surya Roshni.

Its revenue from operations in the September quarter surged 32.7% to ₹2,448.48 crore in the September quarter of FY27. It was ₹1,845.16 crore in the year-ago quarter.

"EBITDA margin was stable sequentially at 5.8% but moderated from 7.6% in Q2FY26, a quarter that benefited from one-time pre-buying by European and Canadian customers in Steel Pipes ahead of CBAM and quota implementation," said Surya Roshni in its earnings statement.

So far, 76 pharmaceutical companies have submitted revised MRPs for 1,225 formulations covering 121 drugs, with price cuts reported across 1,031 formulations. As many as 600 brands have reported price reductions of over 50%, while the steepest cut stands at 96.45%, according to the Ministry of Chemicals and Fertilisers.

Its net profit stood at ₹27.54 crore in the year-ago period.

The total income jumped to ₹588.32 crore in the second quarter of this fiscal year from ₹176.18 crore in the corresponding period of the preceding year, according to a regulatory filing.

Delhi-based Ashiana Housing is one of the leading real estate developers in the country. It focuses a lot on senior living homes.

The company posted a net profit of ₹689 crore in the corresponding period of the previous fiscal year, a regulatory filing said.

Revenue from operations rose 35.39% to ₹3,676 crore during the second quarter of FY27 from ₹2,715 crore a year earlier, it said.

Its total expenses rose to ₹2,265 crore in the period under review from ₹1,948 crore a year ago, it added.

In a regulatory filing, Prestige Estates said it has entered into a share purchase agreement on November 6, 2026, to acquire a 100% stake in Allure Developers Pvt Ltd.

With this acquisition, Allure has become a wholly owned subsidiary of the company.

Allure is undertaking development of a residential project in Noida Sector 150.

The company will pay consideration in tranches of up to ₹5,23.76 crore.