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Market Updates

The Markets are expected to open marginally lower today as trend in SGX nifty indicate a negative start for the broader index after Nifty closed 17 points higher at 18.314 on friday.

Adani Enterprises:

The board approves fundraise of Rs 12,500 crore via QIP. It will seek the approval of shareholders for the aforesaid issuance.

Rail Vikas Nigam:

A Rail Vikas Nigam-SCC Infrastructure joint venture received the letter of award for a project worth Rs 2,248.94 crore to plan, design and construction of main canal and structures to provide Irrigation facility to 41,903 hectares for Upper High-Level Canal of Mahi Bajaj Sagar Project in Banswara, Rajasthan. RVNL has 51% share in the joint venture.

Vedanta:

The company approved capex of $296 million in Cairn Oil and Gas operations.

Adani Transmission:

The board approves Rs 8,500 crore qualified institutional placement. The fundraise is subject to the receipt of the necessary approvals including the approval of the members of the company and other regulatory, statutory approvals, as may be required. The board will also seek shareholder approval for the fundraise.

Sun Pharmaceuticals:

The company received tentative approval from U.S. FDA for its linagliptin tablets.

Q4 Results Update:

Tata Motors Q4 FY23 Revenue rose 35% to Rs 1.06 lakh crore. Ebitda rose 58% to Rs 13,114 crore. Ebitda margin stood at 12.4% vs 10.6% last year. Net Profit was at Rs 5,408 crore vs Rs 1,033 crore loss last year.

Avenue Supermarts Q4 FY23 Revenues were up 21% at Rs 10594.11 crore Vs Rs 8786.45 crore last year. EBITDA was up 4% to Rs 771.51 crore. Ebitda margins stood at 7.3% Vs 8.4% last year. Net profit was up 8% at Rs 460.13 crore.

Hindustan Petroleum Q4 FY23 Revenue was up 10.67% at Rs 1.08 lakh crore. Ebitda was up 82.83% at Rs 5,129.74 crore. Ebitda margin stood at 4.75% vs 2.87% last year. Net profit was up 78.77% at Rs 3,608.32 crore.

Q4 Results Today:

Pfizer, PVR Inox, Kalyan Jewellers India, Suryoday Small Finance Bank, Tube Investments of India, Asahi India Glass, Century Plyboards (I), Astral, Cantabil Retail India, Coromandel International, Goodluck India, HIL, Patel Engineering, PCBL, Procter & Gamble Health, SJS Enterprises, Skipper, Subex, Ugro Capital, Uttam Sugar Mills.

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