Stocks to Watch, October 3: PC Jeweller, Sammaan Capital, IndiGo, Tata Power, Coal India, Ashoka Buildcon, RITES, Crompton Greaves

At the same time, Moody's said it has affirmed JSW Steel's Ba1 corporate family rating (CFR) and Ba1 senior unsecured ratings, the Ba1 rating on Periama Holdings' backed senior unsecured notes, and the Ba1 rating on the guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority. The Ba1-rated notes at Periama Holdings and Jefferson County Port Authority are guaranteed by JSW Steel.

Direct flights between India and China will resume this month after more than four years.

The civil aviation ministry on Thursday said direct air services between India and China will resume by the end of October, following continuous technical-level engagement between civil aviation authorities as part of broader efforts to normalise bilateral ties.

The Mumbai-based auto major reported vehicle wholesales of 41,313 units in September 2024.

In the domestic market, the company said, its dispatches to dealers rose 45 per cent to 59,667 units against 41,063 units in the year-ago period, Tata Motors said in a statement.

The auto major sold a total of 1,84,727 units in the same month last year.

"The GST reform has significantly improved the customer sentiment as reflected in the highest-ever deliveries of 1,65,000 units (first 8 days) during the ongoing Navratri festive period," Maruti Suzuki India (MSI) said in a regulatory filing.

Total domestic passenger vehicle dispatches to dealers were at 1,32,820 units compared to 1,44,962 units in the year-ago month, a dip of 8%.

The domestic wholesale figure for the month should be seen in the context of logistical constraints towards the last part of the month, the company said.

An FDRE (Firm and Dispatchable Renewable Energy) project integrates advanced solar, wind and battery storage systems to enable reliable energy dispatch during peak demand, thereby strengthening grid stability.

The time period for project execution is 24 months, Tata Power, the parent company of TPREL, said in an exchange filing.

On the broad size of the order, the company said the capex is about ₹1,200 crore.

In a separate statement, Tata Power said the project is expected to generate approximately 315 million units (MUs) of electricity annually, mitigating over 0.25 million tonnes of carbon dioxide emissions per year.

Delhi-based PC Jeweller, which has 52 showrooms, of which 49 are company-owned, further reduced its debt by 23% during the latest September quarter.

In a regulatory filing, Delhi-based PC Jeweller shared an operational update for the July-September quarter of the 2025-26 fiscal year.

The company said that it has posted a strong performance in the July-September period, driven by strong consumer demand during the ongoing festive season.

The company achieved "standalone revenue growth of approximately 63% compared to the corresponding quarter of the previous financial year," it added.

The closure includes the winding up of IFB Agro Marine (FZE) and its representative office in Dubai, the company said on Wednesday.

The subsidiary was incorporated on April 20, 2017, at the Sharjah Airport International Free Zone Authority and was primarily engaged in the trading of marine seafood products.

Since the UAE entity was "uneconomical, its closure removes a drag on performance, the company said.

It also said the decision to liquidate the entity was part of its review of international operations.

From a mid-to-long-term perspective, however, coal demand is expected to keep growing, albeit at a slower rate, in view of the strong pipeline of thermal power projects being planned and announced.

According to mjunction services CEO Vinaya Varma, the domestic coal market is currently facing a market glut.

The company expects the demerged industrial entity, SKF India (Industrial) Ltd, to be listed by November this year, subject to necessary approvals.

The demerger of the industrial business has been completed, effective October 1, 2025, with the National Company Law Tribunal (NCLT), Mumbai bench sanctioning the scheme, SKF India Ltd said in a regulatory filing.

The decision by the Chennai-headquartered bank aims to provide relief to customers and make the banking experience easier.

In a press release on Wednesday, the bank said it had already waived minimum balance charges for schemes including IOB Sixty Plus, IOB Savings Bank Pensioner, Small Accounts, and IOB Savings Bank Salary Package.

Commenting on the occasion, the bank's Managing Director and CEO, Ajay Kumar Srivasatava, said, "We are happy to announce this waiver, which will provide significant relief to our account holders."

"We have filed the relevant applications with stock exchanges seeking their comments on the Draft Letter of Offer (DLOF) and/or in-principle listing approval for the captioned Rights Issue at the earliest," the bank said in a regulatory filing.

The bank received board approval to raise up to ₹950 crore via a rights issue from its board of directors on Wednesday.

Ashoka Buildcon, in a regulatory filing, said the acquisition is pursuant to the securities purchase agreement with Macquarie SBI Infrastructure Investments Pte Limited and SBI Macquarie Infrastructure Trust (collectively 'investors') for the acquisition of all investments of the investors in JTCL.

"Ashoka Buildcon's subsidiary Viva Highways Limited has today acquired 7,46,20,000 equity shares of ₹10 each, held by the investors in JTCL, at a consideration of Rs 1,66,59,93,151.

"In view of the above acquisition by VHL, the shareholding of the Company in JTCL through its subsidiaries, viz., VHL & ACL, has increased to 61.17% of the paid-up share capital of JTCL," it said.

The cost of the order is ₹36.22 crore.

Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyaan (“PM KUSUM-B”).

The size of the order is ₹4.75 crore, approximately.