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Stocks in Focus: GMR Airports, Shilpa Medicare, Waaree Energies, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.06% higher by 13.50 points at 23,537.50, indicating that the domestic benchmark indices are likely to make a positive start on Tuesday. 

On Monday, 18 October, Domestic benchmark indices S&P BSE Sensex slumped 241.30 points or 0.31% to end at 77,339.01 while the Nifty50 traded 78.90 points lower or 0.34% and settled at 23,452.80.

Here are some stocks that are likely to remain in focus on 19 October.

GMR Airports: During October 2024, the company recorded a significant increase in passenger traffic, reaching over 10.7 million passengers, highlighting a 9.2% year-on-year (YoY) increase from the same month last year. 

Shilpa Medicare: The wholly-owned subsidiary of the company, Shilpa Pharma Lifesciences Ltd, has received a certificate of Suitability from the European Directorate for the Quality of Medicines & Healthcare for its active pharmaceutical ingredient (API), Octreotide.

Waaree Energies: In its quarterly earnings for July-September, the company reported a 17% YoY increase in net profit to Rs 375.65 crore for the quarter compared to Rs 320.12 crore reported in the same quarter last year. 

Britannia Industries: The Delhi High Court has ruled in favour of the company for a trademark infringement case against Desi Bites Snack for safeguarding its trademark, GOOD DAY. 

Godrej Agrovet: The company has announced forming a partnership with US-based Provivi to introduce sustainable pheromone-based pest control solutions for India’s rice and corn farmers.

GVK Power: The company has initiated the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code and has published a provisional list of potential resolution applicants. Among the key contenders are Vedanta, Jindal Power, Shyam Sel and Power, JSW Energy, and Zeal Global Opportunities Fund.

Themis Medicare: Gujarat Themis Biosyn is planning to merge with the company. The company is awaiting approval from shareholders of both companies, secured creditors, SEBI, stock exchange, NCLT, and other regulatory authorities.  

ITI: The company has announced that it is securing a contract worth Rs 95 crore for mining digital transformation and surveillance systems in Uttarakhand. 

PG Electroplast: The subsidiary of the company, PG Technoplast, has announced that it is entering into a definitive agreement with Spiro Mobility, becoming their exclusive manufacturing partner for Spiro Mobility’s electric vehicles in India.

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