Buzzing Stocks: SML Mahindra, M&M slip on monthly sales; Highway Infra gains 8% on contract win

New business data points to the fact that Stock-specific activity is likely to stay in focus on Dalal Street on October 1, following a slew of corporate developments, monthly sales and research firms view.

Highway Infrastructure stock price further noted 8% after firm has entered into a contract agreement with the Uttar Pradesh Expressways Industrial Development Authority for the execution of a work order worth Rs 220.66 crore for the collection of user fees and operation of toll plazas at the Gorakhpur Link Expressway. Additionally, the firm has received a Letter of Acceptance (LoA) worth Rs 24.46 crore from the National Highways Authority of India for operations at Velanchettiyur Fee Plaza in Tamil Nadu.

Shares of Zydus Lifesciences declined after HSBC retained Hold call with a target price of ₹1,100 per share, noting the US launch of Saroglitazar as a key R&D milestone, with a gradual sales ramp assumed. The brokerage stated execution will stay critical to achieving a 28-30% EBITDA margin over the next five years, while US FDA approval for Saroglitazar stays the key catalyst.

Stock price of SML Mahindra shed nearly 4 percent despite firm's total sales in the month of September rose 18% YoY at 1,124 units against 950 units.

Lemon Tree Hotels shares jumped more than 3% after firm opened Keys Prima in Darjeeling, marking the group's first hotel in the town and further strengthening its presence in West Bengal. The 65-room hotel is managed by the firm's subsidiary, Carnation Hotels.

Mahindra and Mahindra stock price eased 2 percent despite firm's total sales jumped 15% YoY at 1.15 lakh units. Its total passenger vehicle sales rose 14% YoY to 64,092 units, compared with 56,233 units a year ago. That stated, total exports declined 7% YoY to 4,019 units from 4,320 units. In the meantime, M&M’s tractor sales declined 21% YoY to 52,100 units in September, compared with 66,111 units in the year-ago period.

Market participants are anticipated to stay focused on brokerage calls, block deals, order wins, regulatory developments and other firm-specific triggers that could drive stock-level volatility during the session.