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Market Update 

The Markets are expected to open marginally higher today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 42.95 points lower at 19,751.05 on Friday.

Tata Motors:

The company will sell a 9% stake in Tata Technologies to TPG Rise Climate for Rs 1,467 crore and another 0.9% stake in TTL to Ratan Tata Endowment Foundation for Rs 146.7 crore.

Mahindra & Mahindra:

September sales rose 18.14% year on year to 73,185 units, while production increased by 21.88% to 79,410 units. The Income Tax Department has filed an appeal in Bombay High Court against relief previously granted to the company over a Rs 432 crore tax dispute.

Laurus Labs:

Associate ImmunoACT received marketing authorization approval for India’s first CAR?T cell therapy, NexCAR19, for cancer treatment therapy from the Central Drugs Standard Control Organisation.

NHPC:

The company expects Rs 788 crore worth of damages due to flash floods impacting its 510 MW Teesta?V Power Station in Sikkim. The damages are fully insured, and the company said it will lodge a formal claim for the damages.

L&T Finance Holdings:

NCLT has approved the amalgamation of L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with L&T Finance Holdings on Oct. 13.

Infosys:

The New York State Taxation Department has imposed a penalty of $15,076 for underpayment of advance tax in FY22

Bajaj Electricals:

The company bagged a service contract worth Rs 564 crore from Power Grid Corp. for 400 kV transmission lines in Andhra Pradesh. The project is to be completed in 21 months.

HDFC Life:

Board approves re?classification of Abrdn (Mauritius Holdings) 2006 from 'Promoter' to 'Public' category. HDFC Bank will be the sole promoter post reclassification.

Mankind Pharma:

The company has resumed operation at the Sikkim facility as of Oct. 13. It has reported no damage to property due to flash floods when the facility's operations were disrupted.

Federal Bank:

International Finance Corp. acquires an additional 7.26 crore shares (3% stake) via preferential issue, increasing its stake to 7.32%.

Earnings In Focus

HDFC Bank, CEAT, Choice International, Cyient DLM, Federal Bank, ICICI Securities, Jai Balaji Industries, Jio Financial Services, Bank of Maharashtra, NELCO, Orient Hotels, Tinplate Company of India, and Yatra Online.
 

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