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Market Updates

The Markets are expected to open marginally flat today as trend in SGX nifty indicate a flat start for the broader index after Nifty closed 37 points higher at 19,749 on tuesday.

L&T Technology Services:

The company won a $50 million contract from a global technology company to enable new opportunities for digital media platforms. This agreement has a tenure of 5 years.

Ramkrishna Forgings:

The company has started commercial production of 13,700 TPA of R A Shaft-Press Line and 10,100 TPA of 5” Upsetter at its plant in Kharswan from July 18. This will enhance output of the company by 23,800 ton per annum, which will result in total production capacity of 2,10,900 ton per annum.

Himadri Speciality Chemicals:

Company agreed to acquire 100% equity shares of Combe Projects for about Rs 3 lakh.

B.L. Kashyap and Sons:

The company won new order of Rs 369 crore from DLF Home Developers for civil structure and waterproofing works for DLF The Arbour, Sector 63 in Gurugram. The contract includes free supply of steel. The company's order book stands at Rs 3086 crore.

Hero MotoCorp:

The automaker introduced Xtreme 200S 4 Valve, to be priced at Rs 1,41,250 ex-showroom Delhi.

CIE Automotive:

Shriprakash Shukla resigned as director of company after M&M withdrew his nomination since the company ceased to be an associate of M&M.

Vedanta:

The company’s Semiconductors and Display's Global Managing Director Akarsh K Hebbar said that substantial progress has happened to tie up technology and equity partners in semiconductors. Vedanta will make an announcement soon.

Result Update Q1FY24:

IndusInd Bank Q1FY24 Consolidated Net Profit stood at Rs 2124.5 crore vs Rs 1631 crore last year. NII was at Rs 4876 crore vs Rs 4125.26 crore. GNPA stood at 1.94% vs 1.98% last quarter NNPA was at 0.58% vs 0.59% last quarter.

Earnings Today:

Alok Industries, Can Fin Homes, Century Textiles & Industries, Finolex Industries, Goodluck India, Hatsun Agro Product, Jubilant Pharmova, L&T Finance Holdings, Bank of Maharashtra, Mastek, Newgen Software Technologies, Tata Coffee, Tata Communication.

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