PNB, BEL, Tata Motors Among Key Stocks to Watch Today on 23 October

Stocks to Watch Today: PNB, BEL, Tata Motors, Dr Reddy’s in Focus

Several major Indian companies are expected to be in focus today following key corporate developments, including stake sales, order wins, regulatory approvals, and festive performance updates. Among the stocks to watch today are Punjab National Bank (PNB), Bharat Electronics Ltd (BEL), Dr. Reddy’s Laboratories, Tata Motors, and Torrent Pharmaceuticals.

PNB Stake Sale in Canara HSBC Life

Punjab National Bank has sold a 10% stake in Canara HSBC Life Insurance Company, reducing its holding to 13%. The lender raised approximately ₹1,007 crore by offloading 9.5 crore shares at ₹106 per share. The strategic divestment aims to unlock value and strengthen capital buffers, bringing the stock into investor focus today.

BEL Secures ₹633 Crore Defence Order

Bharat Electronics Ltd (BEL), a leading defence PSU, has received a ₹633 crore order from Cochin Shipyard. The contract covers supply of advanced equipment for sensors, communication, and weapon systems integration. The order adds to BEL’s robust order book and underscores its growing role in India’s defence modernization.

Dr. Reddy’s Receives Positive USFDA Update

Dr. Reddy’s Laboratories announced that its Srikakulam facility in Andhra Pradesh received a Voluntary Action Indicated (VAI) status from the USFDA. The inspection concluded with no major observations, resolving a key regulatory overhang and supporting the company’s export compliance record.

Tata Motors Reports Strong Festive Deliveries

Tata Motors Passenger Vehicles delivered over one lakh vehicles during the 30-day festive period between Navratri and Diwali, marking a 33% year-on-year growth. The surge was led by SUV models and strong demand for electric vehicles. Managing Director Shailesh Chandra said the performance highlights healthy consumer sentiment and robust festive demand.

Torrent Pharma Gains CCI Nod for Acquisition

Torrent Pharmaceuticals is in focus after receiving approval from the Competition Commission of India (CCI) for its ₹19,500 crore acquisition of JB Chemicals & Pharmaceuticals. The clearance, subject to certain modifications, removes a major regulatory hurdle for the deal.

Other Stocks to Track

• NMDC Ltd: Revised iron ore prices effective October 22, with Baila Lump (65.5%) priced at ₹5,550 per tonne and Baila Fines (64%) at ₹4,750 per tonne.
  
• Ola Electric: Continues under watch as legal proceedings unfold related to an ongoing investigation.
  
• Laurus Labs Ltd: Brokerage firm B&K Securities initiated coverage with a ‘Buy’ rating and a target price of ₹1,030, citing strong growth prospects in its CDMO segment.
  
• Jain Resource Recycling Ltd: Reported its first post-listing results with 3.5% revenue growth but lower margins due to a decline in EBITDA.
  

Summary

Today’s market focus is expected to revolve around corporate actions, regulatory updates, and festive sales momentum across key sectors. Stocks like PNB, BEL, Tata Motors, and Dr. Reddy’s are likely to attract investor attention amid ongoing earnings season and improving domestic sentiment.