Stocks to Watch, September 29: Tata Motors, HUL, HDFC Bank, L&T, VIP Industries, Ceigall India, Azad Engineering

HUL said that the latest GST reforms are a positive step by the government to drive consumption; however, this has caused a transitory impact in the form of disruption at distributors and retailers across channels to clear existing inventories with old prices.

This, HUL said, has resulted in postponement of ordering in anticipation of receiving new stocks with updated prices and lower orders across the overall portfolio as consumers delayed their pantry buying.

HDFC Bank, India's largest private sector lender, said it has initiated the necessary steps to comply with the notice of the Dubai Financial Services Authority and added that it does not see any material impact from it.

Exact details of the alleged violations leading to the action against HDFC Bank were not immediately clear.

Sunteck Realty will develop these ultra-luxury housing projects under a by-invite-only real estate lifestyle brand, 'Emaance'.

"We are entering into the ultra-luxury residential segment under a new brand, Emaance, derived from the fusion of two words, 'immense' and 'indulgence', where each apartment cost will not be less than Rs 100 crore," Sunteck Realty CMD Kamal Khetan told PTI.

According to the bulk deal data available on the BSE, Kiddy Plast Ltd and Piramal Vibhuti Investments sold a total of 88.40 lakh equity shares, representing a 6.22% stake in the Mumbai-based VIP Industries.

The shares were offloaded in the price range of ₹388-₹388.25 apiece, taking the combined deal value to ₹343.19 crore.

After the stake sale, the combined holding of promoters and promoter group entities has come down to 45.51% from 51.73%.

The company on Friday signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries (MoFPI) on the sidelines of World Food India 2025.

This proposed investment of ₹960 crore is a significant step in the company's journey towards enhancing its food processing capabilities through manufacturing facilities and an R&D centre, Godrej Agrovet said in a regulatory filing.

"The MoU is in line with our long-term strategy of strengthening our agri-food processing and distribution capabilities. By investing in upstream infrastructure and R&D, our aim is to create sustainable value across the supply chain while contributing to the upliftment of the ecosystem," Sunil Kataria, CEO & MD of Godrej Agrovet, said.

"We expect the divestment to get completed by the end of the current fiscal year, FY26," L&T said in a filing to BSE.

The company said that the Telangana government will take over the Hyderabad Metro SPV by refinancing the current debt and acquiring equity of L&T Metro Rail (Hyderabad) Ltd at the agreed values. An in-principle understanding has been reached between both on the same.

The tender has been issued by the Indian Army to Bharat Electronics (BEL) to buy the Defence Research and Development Organisation (DRDO)-developed Anant Shastra air defence missile system, which was earlier known as the Quick Reaction Surface to Air Missile system.

In a statement, OIL said "occurrence of natural gas" was reported in the second exploratory well, Vijayapuram-2, drilled in the Offshore Andaman Block AN-OSHP-2018/1, which the company had won under the Open Acreage Licensing Policy (OALP).

"The preliminary analysis of gas samples, collected during intermittent inflow of gas as part of initial production testing, has confirmed the presence of natural gas. Further gas isotope studies are being undertaken so as to understand the genesis of the gas," the statement said.

NTPC CMD Gurdeep Singh, along with the Board of Directors, presented the final dividend payment advice to Power Minister Manohar Lal in the presence of Pankaj Agarwal, Secretary (Power), on September 25, a company statement issued on Friday said.

This is in addition to the first interim dividend of ₹2,424 crore and a second interim dividend of ₹2,424 crore paid in November 2024 and February 2025, respectively, it added.

The total dividend paid for FY 2024-25 is ₹8,096 crore, at a rate of ₹8.35 per share of a face value of ₹10 each.

In a separate development, NTPC will appoint a consultant to identify uranium mines overseas after signing a formal agreement with Uranium Corporation of India Ltd (UCIL), a company official said.

The move will be part of the company's plan to secure raw material for its future nuclear projects to be set up on an individual basis.

At present, NTPC is setting up a nuclear project in a joint venture (JV) with Nuclear Power Corporation of India Ltd (NPCIL) in Rajasthan at an investment of about ₹42,000 crore. While NTPC has a 49% stake in ASHVINI, NPCIL has the majority 51% shareholding.

The drugmakers are voluntarily recalling affected lots in the American market, the US health regulator said in its latest Enforcement Report.

A US-based subsidiary of the Mumbai-based Glenmark Pharmaceuticals is recalling 13,824 Azelaic Acid Gel tubes produced at the company's Goa plant due to "CGMP deviations" following market complaints received for gritty texture, the USFDA said.

The JV has been awarded the project from the Greater Mohali Area Development Authority (GMADA) to develop the project in Mohali, a Ceigall India statement said.

The contract includes the construction of internal roads and associated civil, public health, and electrical works. It is to be executed within 24 months under an item-rate contract.

Ceigall Chairman and Managing Director Ramneek Sehgal said, "The Aerotropolis project is a transformative urban initiative, and we are proud to contribute to building resilient infrastructure that will support connectivity, growth, and sustainable urban development in the region. Through our JV with JSPPPL, we are committed to delivering this project with efficiency, innovation, and uncompromising quality."

The loan will come from a commercial bank, backed by the Department for Business and Trade’s (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.

This contract is incremental to the last signed contract on 3rd November 2024. "This Phase 2 of the contract is a robust step towards cementing our everlasting strategic relationship with Mitsubishi Heavy Industries Limited, Japan (MHI), and with the addition of this agreement, the combined value of the contract now stands at $156.36 million (nearly ₹1,387 crore)," it said.

This marks a landmark moment for the PG Group, as it establishes the company’s first facility in South India and represents its largest land acquisition to date, it added.

Based on the observations, the USFDA classified our site with an “Official Action Intended” status on May 21, 2025, and further issued a Warning Letter on August 21, 2025.

The USFDA has cited inadequate investigations of customer complaints on foreign matter and shortcomings in our vendor management as the reasons for the issuance of the warning letter.

"The commissioning of this plant will enhance the company’s captive production of sulphuric acid and ensure the availability of a key raw material for manufacturing phosphoric acid and fertilisers, thereby reducing dependency on imports and improving operational efficiency," it said.