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Market Updates

The Markets are expected to open marginally higher today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 49 points higher at 18,315 on wednesday.

Rail Vikas Nigam/Siemens:

The consortium of the two companies have received an order worth Rs 300.11 crore from Mumbai Metropolitan Region Development Authority for design, manufacture, supply, installation, testing and commissioning of two 110KV receiving substations for main line and depot of Mumbai Metro line 2B. Siemens is the lead consortium partner with 60% share, and RVNL holds 40% share.

HDFC:

SEBI has granted its final approval for the change in control of HDFC Asset Management Company, a subsidiary of HDFC.

Larsen & Toubro:

AM Naik will step down as non-executive chairman of the company from Sept. 30, and will be conferred the status of chairman emeritus. SN Subrahmanyan, the chief executive officer & managing director, has been re-designated as the chairman and managing director of the company, with effect from Oct. 1, 2023.

Zydus Lifesciences:

The company received establishment inspection report from the U.S. FDA for the inspection conducted at its facility in Moraiya, Ahmedabad without any observations. The pre-approval inspection, conducted from Jan. 23 to 27, covered transdermal patch products.

Q4 Results Update:

Larsen & Toubro Q4FY23 Revenue were up 10.4% at Rs 58,335.15 crore. Ebitda was up 4.8% at Rs 6,832.95 crore. Ebitda Margin stood at 11.7 % vs 12.3% last year. Net Profit was up 10.98% at Rs 4,446.74 crore. The board approved a final dividend of Rs 24 per share for the financial year 2022-23.

Dr Reddy's Laboratories Q4 FY2023 Revenue was up by 15% at Rs 6,315 crore. Ebitda was up 33% to Rs 1,588 crore. Ebitda margin stood at 25.1% vs 21.8% last year. Net profit jumped 889.79% at Rs 960 crore.

Procter & Gamble Hygiene & Health Care Q4 FY23 Revenues were down 9.26% at Rs 883.09 crore. Ebitda was also down 9.54% at Rs 149.27 crore. Ebitda margin stood at 16.9% vs 16.95% last year. Net profit was up 60.45% at Rs 165.02 crore.

Q4 Results Today:

Asian Paints, Eicher Motors, PDS, Deepak Nitrite, Balrampur Chini Mills, Zensar Technologies, Ujjivan Small Finance Bank, Intellect Design Arena, Dr Lal Pathlabs, Care Ratings, Siemens, Aditya Birla Capital, Ajmera Realty & Infra India, Alkyl Amines Chemicals, BLS International Services, DCW, Everest Industries, Gillette India. Gujarat State Petronet, GTL Infrastructure, Kirloskar Brothers etc.

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