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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 80 points higher at 19,597 on monday.

RailTel Corporation of India:

The company has received the work order from Pimpri Chinchwad Smart City for providing end-to-end services for monetisation of PCSCL city network infrastructure on revenue sharing model. The estimated annual revenue from the contract is Rs 70 crore and the total revenue for 10 years is Rs 700 crore.

MMTC:

Securities and Exchange Board of India has cancelled the registration of the company as a stockbroker for its involvement in an illegal “paired contract” in the case pertained to the defunct National Spot Exchange Ltd.

Gravita India:

The company announced that 'pure lead' of 99.98 % purity and above produced by the company from its Phagi, Jaipur plant has been empaneled as approved 'Lead Brands' deliverable against MCX lead futures contract.

BEML:

The company secured a letter of acceptance from Bangalore Metro Rail Corporation for supply of rolling stock contract 5RS-DM valued at Rs 3,177 crore.

Welspun Specialty Solutions:

The company has received orders for aggregative amount of Rs 37 crore for supply of stainless steel bars from a domestic customer, unrelated party. The said order is expected to be executed by the end of October 2023.

Privi Speciality Chemicals:

The company has invested the second tranche of Rs 3.64 crore by subscribing to 36.46 lakh equity shares of Rs 10 each equivalent to approximately 26% of the issued and paid-up capital of the Special Purpose Vehicle - Radiance MH Sunrise Ten.

Result Update Q1FY24:

Godrej Consumer Q1FY24 Consolidated Revenue was up 10% at Rs 3448.9 crore Vs Rs 3124.9 crore YoY. Net profit was down 8% Rs 318.82 crore Vs Rs 345.12 crore last year. Ebitda was up 23% at Rs 642.84 crore Vs Rs 520.8 crore. Margins stood at 18.6% Vs 16.7% last year.

Earnings Today:

Adani Ports, Coal India, Chambal Fertilisers and Chemicals, Ideaforge Technology, Siemens, Suven Pharma, Utkarsh Small Finance Bank, Gujarat State Fertilisers & Chemicals, Gujarat Alkalies & Chemicals, Happiest Minds Technologies,Aarti Industries, Artemis Medicare Services, Ashiana Housing, etc.

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