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Market Updates

The Markets are expected to open marginally negative as trend in SGX nifty indicate negative start for the broader index after Nifty closed 57 points lower at 18,089 on wednesday.

GR Infraprojects:

The company has been selected as the lowest bidder for the construction of four-lane highway along the NH-731A in Kausambi, Uttar Pradesh. The bid project cost is Rs 737.17 crore.

Dabur India:

Dabur Nepal, a subsidiary of the company, received the approval of Investment Board of Nepal for an additional investment of 969 crore Nepalese rupees (approximately Rs 608 crore) . The capital will enable Dabur Nepal to fund its capacity expansion, product diversification, factory upgradation, etc. over next four to five years.

Central Bank of India:

The bank has clarified that it has a total exposure is of Rs 1,987 crore to Go Air as of March 31, 2023, representing 0.91% of total advances.

AstraZeneca Pharma India:

The company has received approval from Central Drugs Standard Control Organisation to import breast cancer drug Trastuzumab deruxtecan, or Enhertu, for sale and distribution in India

SJVN:

The company bagged an order of Rs 1,200 crore from Gujarat Urja Vikas Nigam to develop a 200 MW grid-connected solar power project in Khavda Solar Park, Gujarat.

Seamec:

The company completed the acquisition of 100% stake in Aarey Organic Industries for a consideration of Rs 17.40 crore.

Q4 Results Update:

Titan Q4 FY23 revenue was up by 33% at Rs 10,360 crore. Ebitda was up by 37% at Rs 1,089 crore. Ebitda margin was at 10.5% Vs 10.2% last year.Net profit grew 40% at Rs 736 crore.

Tata Chemicals Q4 FY23 revenue was up 26.6% at Rs 4,407 crore. Ebitda was up by 46.88% at Rs 965 crore. Ebitda margin was at 21.9% vs 18.87% last year. Net profit was grew by 53.56% at Rs 711 crore.The board approved a dividend of Rs 17.50 a piece for the fiscal 2023.

Q4 Results Today:

Tata Power Company, Adani Enterprises, Hero MotoCorp, TVS Motor Company, Ceat, Dabur India, Blue Star, United Breweries, Firstsource Solutions, Sundram Fasteners, Mindspace Business Parks REIT, 360 ONE WAM, Aptus Value Housing Finance India, Housing Development Finance Corporation, IDFC, Choice International, AGI Greenpac, Bombay Dyeing and Manufacturing Co., Filatex India, Jammu and Kashmir Bank.

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