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Market Updates

The Markets are expected to open flat today as trend in SGX nifty indicate a flat start for the broader index after Nifty closed 118 points lower at 19,659 on thursday

Rail Vikas Nigam:

Government has agreed to exercise green shoe option in Rail Vikas Nigam offer for sale. It will divest an additional 1.96% stake in Rail Vikas Nigam under its green shoe option. The non-retail portion got 273% demand on Day 1

Ipca Laboratories:

The Competition Commission of India has approved Ipca Laboratories proposal to acquire controlling stake in Unichem Laboratories. Ipca will acquire one-third of Unichem's overall shareholding for a cash consideration of Rs 1,034.06 crore. It will make necessary open offer to public shareholders for 26% stake in Unichem as per SEBI regulations.

Indian Hotels:

The company or one of its subsidiaries will purchase 100% equity of Pamodzi Hotels PLC, a listed company in Zambia, from Tata International Singapore PTE Ltd. It will buy 90% stakefrom Tata, while acquiring 10% remaining stake through delisting pprocess in Zambia.

Welspun Enterprises:

The company has signed a share purchase agreement with Authum Investment & Infrastructure, Sansaar Housing Finance and Michigan Engineers to acquire 50.10% stake in Michigan Engineers for Rs 137.07 crore in cash

NACL:

The company has approved to foray into specialty materials and intermediates, specialty nutrition and bioproducts. It has considered an investment of Rs 1,000 crore over the next three years for the business, including expansion of its existing manufacturing and R&D facilities for captive as well as custom development and contract manufacturing opportunities.

Result Update Q1FY24:

NDTV Q1 FY24 Consolidated Revenue was up 4.5% at Rs 70 crore vs. Rs 67 crore last quarter. Ebitda loss was at Rs 9.49 crore vs. loss at Rs 14.8 crore. Net loss stood at Rs 8.08 crore vs. loss of Rs 1.08 crore last quarter.

Earnings Today:

Motherson Sumi Wiring India, Marico, Mahindra & Mahindra Financial Services, Laxmi Organic Industries, IFB Industries, KFin Technologies, Indian Oil Corporation, Fino Payments Bank, Exide Industries, Equitas Small Finance Bank, eMudhra, DCB Bank, Cigniti Technologies, Chalet Hotels, Bank Of India, Apar Industries, United Breweries, Swaraj Engines, Supreme Industries, Star Health and Allied Insurance ompany etc.

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