Tickertape

2023-09-15 07:31:20 Tickertape Daily - 15th September 2023

Reliance Industries - The Centre challenges Delhi HC order favouring RIL in Krishna Godavari Basin gas dispute. RIL to respond.

Cipla - Stake sale at risk due to high valuation of ₹1.09 trillion. Negotiations stalled at ₹1,350 per share demand.

Tata Motors - Creating a separate sales network for electric vehicles. New outlets to be created in high EV-demand cities.

L&T - BAE Systems and L&T bring 'BvS10' AATV to the Indian defence market under the 'Make in India' programme.

Zee Entertainment - Axis Finance appeals against NCLT's approval of the Zee-Culver Max merger. Second financial creditor after IDBI Bank.

Sun Pharma - LIC sells 2% Sun Pharma stake for ₹4,699 crore. 2% decrease in holding from July 22, 2022, to September 13, 2023, at ₹973.80 per share.

Source: Livemint.com ओपन / कमेंट

2023-09-14 07:43:56 Tickertape Daily - 14th September 2023

Power Finance Corporation: PFC will issue bonus shares worth ₹660.02 crore, giving shareholders one new ₹10 equity share for every four ₹10 equity shares.

Spencer's Retail: Plans to close 10 unprofitable stores in Tamil Nadu which contributed 1.2% to the company's revenue in 2022-23 by September 30th.

Bombay Dyeing: Bombay Dyeing, owned by the Wadia Group, will sell 22 acres in Worli to Goisu Realty Pvt, a subsidiary of Sumitomo Realty & Development Company Limited, for ₹5,200 crore to repay debt and fund future projects.

Bank of India: Bank of India has raised ₹2,000 crores through Basel III compliant Tier II bonds at 7.88% per annum, with 83 bids totalling ₹3,770 crores.

One97 Communications: Paytm's shareholders have approved S.R. Batliboi & Associates LLP as the new statutory auditor for a five-year term.

Tata Steel/JSW Steel/SAIL: ICRA has revised its growth estimate for the domestic steel industry to 9-10% for the current fiscal year, up from the initial estimate of 7-8%, citing robust government capital expenditure.

Source: Livemint.com ओपन / कमेंट

2023-08-11 08:06:51 Tickertape Daily - 11th August 2023

LIC - LIC reported a 14-fold YoY surge in Q1 FY24 net profit at ₹9,543.7 crore. The remarkable growth is attributed to accounting changes and a base effect, involving fund transfers, as per regulatory filing.

Reliance Industries - Ahead of JFSL's listing, eligible Reliance Industries (RIL) shareholders received Jio Financial Services (JFSL) shares in a 1:1 ratio on August 10. JFSL shares were credited before its listing, rewarding RIL shareholders.

Hero MotoCorp - Hero Moto Corp's Q1 FY24 profit rose 32% to ₹825 crore. Quarterly revenue reached ₹8,767 crore, with total income at ₹8,989 crore, marking a 6% increase YoY. The firm sold 13.53 lakh motorcycles and scooters during the quarter.

Cipla - Cipla's chairman, Yusuf Khwaja Hamied, dismissed reports of promoter stake sales as "speculative" during the 87th AGM. He clarified that official clarifications have been shared with the stock exchange.

HCL Tech - HCLTech sealed a significant $2.1-billion deal with Verizon Business for managed network services, a boost following a lacklustre Q1FY24. This deal followed a decline in Q1FY24 deal wins compared to previous quarters.

Biocon - Biocon's Q1 FY22 net profit dropped 30% to ₹101 crore. However, revenue surged 60% to ₹3,422.6 crore, leading to an EBITDA increase of 79% and an EBITDA margin of 20.9%.

Source: Livemint.com  ओपन / कमेंट

2023-07-28 06:59:41 Tickertape Daily - 27th July 2023

ITC: Cigarettes-to-hotel major ITC Ltd held its investor conference call on July 27, 2023. The chairman and managing director, Sanjiv Puri, explained the reason why the company chose to retain a 40% stake in the demerged ITC Hotels.

ACC: ACC Ltd, the Adani group cement manufacturing company, on Thursday, reported a net profit of ₹466.14 crore for the quarter ending June 2023. ACC Q1 net profit more than doubled from ₹227.35 crore in the corresponding period of last year.

Cipla: Promoters of Cipla are reportedly in talks to sell a part of their total stake in the company. The pharma major however clarified that it was not aware of any event ‘that requires disclosure’ under listing regulations.

Indian Bank: Indian Bank on Thursday released the results for the first quarter of FY 2024 and said its net profit was up 41% YoY at ₹1,709 crore on June 23 from ₹1,213 crore in the corresponding quarter of last year. On a QoQ basis, the net profit was up 18% to ₹1709 crore in June'23 from ₹1447 crore in March'23.

LIC: State-run insurance behemoth, and the largest investor in India, Life Insurance Corp (LIC) witnessed the highest-ever gains in the first quarter of a fiscal year, worth approximately $3.16 billion, or ₹25,900 crore.

JK Lakshmi Cement: JK Lakshmi Cement reported a decline of 30% in consolidated net profit at ₹79.7 crore for Q1FY24, compared to ₹115 crore in the corresponding period last year.

Source: Livemint.com ओपन / कमेंट

2023-07-06 07:49:08 Tickertape Daily - 6th July 2023

IDFC First: Mumbai-headquartered private sector lender, IDFC First Bank on Wednesday announced its provisional data for the first quarter of FY24.

JSW Steel: JSW Steel will replace Housing Development Finance Corporation (HDFC) in S&P BSE Sensex said the bourse in its release.

Godrej Consumer Products: Godrej Consumer Products Limited (GCPL) reported double-digit volume growth in its India business in the June quarter with double-digit volume growth recorded in the home care segment and higher than mid-single digit volume growth in personal care, the company said in its quarterly update on Wednesday.

India Cement: Life Insurance Corporation of India (LIC) on Wednesday said it has offloaded a little over 2 per cent stake in India Cement through open market transactions between November 2007 and July 2023. "...Corporation's shareholding in 'India Cement Ltd' has diluted from 18,205,665 to 11,877,759 equity shares decreasing its shareholding from 5.875 per cent to 3.833 per cent of the paid-up capital of the said company," LIC said in a regulatory filing.

KEC International: Leading infrastructure major KEC International, an RPG Group company, on Wednesday, said it has received new orders worth ₹1,042 crore across its various businesses.

Tata Power: Tata Power on Wednesday announced bagging a smart metering project worth ₹1,744 crore in Chhattisgarh. ओपन / कमेंट

2023-07-05 06:04:40 Tickertape Daily - 5th July 2023

State Bank of India: State Bank of India (SBI) announced that the Executive Committee of the Central Board (ECCB) has approved its acquisition of the entire stake held by SBI Capital Markets in SBICAP Ventures (SVL).

LTIMindtree: Due to merging under HDFC Bank, the stock exchange NSE on Tuesday announced a replacement against HDFC share price on its indices.

Suzlon Energy: Suzlon Energy on Tuesday announced that the company's board of directors would consider a proposal to raise capital on 7 July.

Samvardhana Motherson: Auto parts maker Samvardhana Motherson International (SAMIL) announced on July 4 that it will buy a majority stake of 81 per cent in Japan-based auto-part maker Yachiyo Industry's four-wheeler (4W) business - a subsidiary of Honda Motor.

SpiceJet: The Delhi bench of the National Company Law Tribunal (NCLT) on Tuesday adjourned the ongoing case involving aircraft engine lessor Willis Lease Finance Corporation’s petition to initiate the corporate insolvency resolution process against SpiceJet.

Dabur: Fast-moving consumer goods company Dabur India added five new brands with sales greater than ₹100 crore in FY23, the company said in its fiscal 2023 annual report released to the exchanges on Tuesday. ओपन / कमेंट

2023-07-04 06:46:38 Tickertape Daily - 4th July 2023

Reliance Industries: Reliance Jio will begin selling Jio Bharat V2 4G phone which will be internet-enabled, at ₹999, from 7 July targeting India’s 250 million feature phone users that use data-devoid 2G devices.

IDFC First Bank: The boards of IDFC Financial Holding Co. Ltd, IDFC Ltd, and IDFC First Bank on Monday approved a merger under which shareholders of IDFC will get 155 equity shares of the bank for every 100 shares held.

HMA Agro Industries: HMA Agro Industries, a frozen meat exporter, is set to make its stock market debut on Tuesday, July 4, with its equity shares listing on both the NSE and BSE exchanges. Trading will commence at 10 AM following the listing, and the offer price for the shares was fixed within the range of ₹555-585. The allotment was made at the upper band of the offer.

Bajaj Finance: Bajaj Finance's loan book grew 34 per cent to 9.9 MM in the April-June quarter of the current fiscal, compared to 7.2 MM in the corresponding period last year.

Bank of Maharashtra: State-owned Bank of Maharashtra (BoM) on Monday said it has posted a credit growth of 24.93 per cent at ₹1.75 lakh crore in the June quarter.

SpiceJet: SpiceJet on Monday said it has successfully completed the settlement of a loan payment worth ₹100 crore to City Union Bank. The last tranche of ₹25 crore was paid on June 30, 2023, successfully closing the entire loan account which was taken in 2012, the airline company said in a release. ओपन / कमेंट

2023-07-03 05:56:11 Tickertape Daily - 3rd July 2023

HDFC Bank: HDFC Ltd is going to merge with its subsidiary HDFC Bank on 1st July This means HDFC has ceased to exist. In the latest exchange filing, both entities informed the Indian stock market exchanges in this regard.

Reliance Industries: Reliance Industries Limited (RIL) and bp plc on Friday announced the commencement of production from the MJ field, following testing and commissioning activities.

Hero MotoCorp: Two-wheeler maker Hero MotoCorp reported total sales of 4,36,993 units in June 2023. The company registered a decline of 9.9% when compared to 4,84,867 units sold in the same month last year.

State Bank of India: State Bank of India (SBI) on Thursday informed that its Chief Financial Officer Charanjit Surinder Singh Attra resigned from his position.

Maruti Suzuki: Maruti Suzuki on Saturday reported a 2% increase in total wholesales at 1,59,418 units in June 2023. The country's largest carmaker had dispatched 1,55,857 units to dealers in June 2022, MSI said in a statement.

Bank of Baroda: The government-owned Bank of Baroda (BoB) intends to sell up to 49% of its ownership in the credit card division BOB Financial Solutions Ltd. BoB currently holds a 100% ownership interest. ओपन / कमेंट

2023-06-30 05:38:24 Tickertape Daily - 30th June 2023

ICICI Bank: CICI Securities on Thursday announced that it will become a wholly owned subsidiary of its parent company ICICI Bank upon delisting.

BPCL: BPCL rights issue: The board of directors of Bharat Petroleum Corporation Ltd (BPCL) has considered and approved fundraising through the issuance of rights issues.

Adani Total: Adani Total Gas Ltd, the joint venture of billionaire Gautam Adani's group and French energy giant TotalEnergies, will invest ₹18,000 crore to ₹20,000 crore in the next 8 to 10 years to expand infrastructure for retailing CNG to automobiles and piping gas to households and industries, its CFO said.

Tata Communications: Tata Communications is set to acquire US-based enterprise messaging firm Kaleyra for $100 million in an all-cash deal, it said on Wednesday.

ONGC: State-owned Oil and Natural Gas Corporation (ONGC) has sold the initial gas it is producing from its KG basin fields in the Bay of Bengal to three firms, including Torrent Gas, sources said. In an e-auction, the firm sold 1.4 million standard cubic meters per day - a fraction of the planned output from the block that sits next to Reliance Industries' prolific KG-D6 area in the Bay of Bengal, to Torrent Gas Pune Ltd, GAIL (India) Ltd and Hindustan Petroleum Corporation Ltd (HPCL).

TVS Motors: TVS Motor Company announced a strategic partnership with the food ordering and delivery platform Zomato on June 28 to accelerate green mobility solutions for last-mile deliveries. ओपन / कमेंट

2023-06-28 08:11:37 Tickertape Daily - 28th June 2023

HDFC Bank: Housing Development Finance Corp. Ltd (HDFC) has tentatively scheduled its $40 billion mega-merger with HDFC Bank Ltd for 1 July, combining the country’s largest private sector lender with the nation’s top mortgage lender.

Adani Group: Billionaire Gautam Adani-led Adani Group aims to review its capital market strategy once the market stabilises, said Chief Financial Officer Jugeshinder Singh.

LTIMindtree: The delisting of the country's largest mortgage lender Housing Development Finance Corporation (HDFC) shares on July 13 is likely to pave the way for LTIMindtree to enter the benchmark Nifty50 index.

SBI: Largest public sector lender in India, SBI on Tuesday received approval from the Executive Committee of the Central Board (ECCB) to acquire the entire 20% stake held by SBI Capital Markets in SBI Pension Funds.

HDFC Life: Leading mortgage financier HDFC Ltd on Tuesday purchased 1.5 crore shares of HDFC Life Insurance Company Ltd for ₹992.6 crore through a bulk deal on the NSE.

BSE: The National Stock Exchange of India on Tuesday announced to withdraw the plan to shift the expiry of derivative contracts of NiftyBank to Friday from Thursday. ओपन / कमेंट