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Market Updates

The Markets are expected to open flat or marginally negative as trend in SGX nifty indicate flat start for the broader index after Nifty closed 149 points higher at 18,065 on friday.

Ultratech Cements:

The board has approved merger three subsidiaries; Ultratech Nathdwara Cement, Swiss Merchandise Infrastructure, and Merit Plaza with the company. The appointed date of the scheme of amalgamation is April 1, 2023.

Biocon:

Biocon Biologics monoclonal antibodies drug substance manufacturing facility in Bengaluru has received a Certificate of GMP Compliance for biosimilar Bevacizumab from Health Products Regulatory Authority, Ireland.

Gujarat Alkalies and Chemicals:

GACL-NALCO Alkalies & Chemicals, a joint venture between the company and National Aluminium Company, has commissioned the second unit of 130MW captive power plant at Dahej.

Avanti Feeds:

The company has dissolved its Delaware-based step-down subsidiary Avanti Frozen Foods due to the impact of Covid-19 and recession in the U.S.

Coromandel International:

Dare Ventures, a wholly owned subsidiary of the company acquired 7.4% in Dhaksha Unmanned System for Rs 15.99 crore, increasing its overall stake to 16.82%.

Q4 Results Update:

Adani Green Energy Q4 FY23 Revenue were up by 78% at Rs 2,598 crore vs Rs 1,461 crore previous year. Ebitda was up by 132.9% at Rs 2,264 crore. Ebitda margin was at 87.1% vs 66.5% last year. Net profit was up by 319% at Rs 507 crore vs Rs 121. crore previous year.

Kotak Mahindra Bank Q4 FY23 Net Profit stood at Rs 3,495 crore vs Rs 2,767 crore last year. NII was at Rs 6,103 crore. GNPA was at 1.78% vs 1.90% on sequential basis. NNPA was at 0.37% vs 0.43% on sequential basis.

Ultratech Cement Q4 FY23 Revenue was up by 18.36% at Rs 18,662.38 crore on YoY basis. Ebitda was up by 8.13% at Rs 3,322.49 crore. Ebitda margin stood at 17.8% vs 19.49% on YoY basis.

Q4 Results Today:

Tata Steel, Adani Total Gas, Ambuja Cements, Varun Beverages, KEI Industries, Spandana Sphoorty Financial, Newgen Software Technologies, Astec Lifesciences, Home First Finance Company India, UCO Bank, Punjab & Sind Bank, Cigniti Technologies, DCM Shriram, Fino Payments Bank, Sasken Technologies.

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