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Market Updates

The Markets are expected to flat or marginally positive as trend in SGX nifty indicate flat start for the broader index after Nifty closed 186 points lower at 18,069 on friday.

Lupin:

Lupin: The company will acquire entire share capital of French pharmaceutical company Medisol for Rs 161.89 crore. This consideration includes upfront payment of Rs 130.41 crore and earnouts up to (Rs 31.48 crore.

SJVN:

The company’s subsidiary SJVN Green Energy bagged a 100 MW connected wind power plant project from Gujarat Urja Vikas Nigam to be set up anywhere in India at approximately Rs 800 crore. The company also won a contract from Rajasthan Urja Vikas Nigam to set up a 100 MW solar power project at a cost of Rs 600 crore.

Aditya Birla Fashion and Retail:

The company has signed a definitive agreement to acquire 51% stake in TCNS Clothing for Rs 1,650 crore. The company will acquire between 22% to 30.81% stake from TCNS promoters and up to 29% stake through open offer at Rs 503 per share.

TCNS Clothing:

The company entered into definitive agreements for combining with ABFRL, part of the Aditya Birla group. As a part of the deal, ABFRL will hold 51% stake in TCNS Clothing for Rs 1,650 crore. Under the merger public shareholders of TCNS (as on effective date) will receive 11 shares of ABFRL for every 6 shares that they hold in TCNS.

Q4 Results Update:

Britannia Industries Q4 FY23 Revenue was up 13% at Rs 4,023.18 crore. Ebitda was up 46% to Rs 800.89 crore. Ebitda margin stood at 19.9% Vs 15.5% last year. Net profit grew by 47% at Rs 558.66 crore.

Adani Power FY23 Revenues were up by 40% at Rs 38,773.30 crore vs Rs 27.,711.20 crore last year. EBITDA was up by 2.3% at Rs 10,044.7 crore. EBITDA margin stood at 25.9% vs 35.5% on YoY basis. Net profit was up by 118.4% at Rs 10,726.6 crore vs Rs 4,911.58 crore last year.

Paytm Q4 FY23 Revenues were up by 13.2% at Rs 2334.50 crore. EBITDA loss narrows to Rs 129.10 crore vs Ebitda loss of Rs 330.7 crore last year. Net loss was a Rs 168.4 crore vs Rs 392 crore last year.

Q4 Results Today:

UPL, Canara Bank, Indian Bank, Kalpataru Power Transmission, Apar Industries, Pidilite Industries, CG Power and Industrial Solutions, Kansai Nerolac Paints, Aarti Industries, Mahanagar Gas, Birlasoft, Carborundum Universal, Craftsman Automation, VIP Industries, Happiest Minds Technologies, Apollo Pipes etc.

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