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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 35 points higher at 18,321 on thursday.

Vedanta:

Cairn Oil & Gas announced reserves and resources portfolio crossed 1.1 billion barrels of oil equivalent.

Reliance Industries:

Step-down FMCG subsidiary Reliance Consumer Products completed the acquisition of 51% controlling stake in Lotus Chocolates for an aggregate consideration of Rs 74 crore and subscribed to noncumulative redeemable preference shares of the company for Rs 25 crore.

Praj Industries:

The board approved forming a 50:50 joint venture with Indian Oil Corporation to set up biofuel production facilities and market CBG, Ethanol, SAF and various coproducts and intermediates.

Bata India:

Life Insurance Corporation of India has increased its stake in the company to 6.53% from 4.5%.

Tata Power:

Life Insurance Corporation of India has increased its stake in the company to 7.94% from 5.91%.

Q4 Results Update:

Vodafone Idea Q4 Revenue was down 1.19% at Rs 10,532 crore. Ebitda was up 0.70% at Rs 4,210 crore. Ebitda margin stood at 39.97% vs 39.4% last quarter. Net loss narrowed to Rs 6,419 crore from net loss of Rs 7,990 crore last quarter. ARPU remained flat at Rs 135 QoQ. Zee Entertainment Enterprises Q4 FY23 Revenue were down 9.043% at Rs 2,112.11 crore. Ebitda was down 71.12% at Rs 151.73 crore. Ebitda margin stood at 7.18%. Net profit loss of Rs 196.03 crore vs Rs 181.93 crore last year. Page Industries Q4 FY23 Revenue were down 12.78% at Rs 969.09 crore. Ebitda was down 49.71% at Rs 134.33 crore. Ebitda margin stood at 13.86% vs 24.04% last year. Net profit down 58.88% at Rs 78.35 crore. The board approved fourth interim dividend of Rs 60 per share.

Q4 Results Today:

Oil and Natural Gas Corporation, Mahindra & Mahindra, Samvardhana Motherson International, Sun Pharmaceutical Industries, Bharat Heavy Electricals, Chambal Fertilisers & Chemicals, BEML, Maharashtra Seamless, Power Mech Projects, City Union Bank, PG Electroplast, Indigo Paints, KDDL, Sunteck Realty, Nucleus Software Exports, Astra Microwave, etc.

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