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Market Updates

The markets are expected to open flat or marginally positive, as trends in the SGX Nifty indicate a mildly positive start for the broader index after Nifty closed 119 points higher at 17,743 on monday.

Ipca Laboratories/Unichem Laboratories: The company will acquire 33.38% stake in Unichem Laboratories for a cash consideration of Rs 1,034.06 crore.

Mahindra Lifespaces Developers: The company has been selected as the preferred partner to redevelop a residential society in Malad, West under a project worth Rs 850 crore.

Poonawalla Fincorp: Ratings agency Crisil has upgraded its rating on the long-term bank facilities and non-convertible debentures of the company to 'CRISIL AAA/Stable' from 'CRISIL AA+/Stable’.

Infosys: The Indian IT major signs deal with Aramco to enhance the energy behemoth’s HR platform. The financial details of the deal were not revealed.

HDFC Bank: Monetary Authority of Singapore approves HDFC Bank plan to acquire 20% or more stake in fund manager Griha.

Choice International: The Choice Group announced its plans to launch operations in 10 locations across North India in the first half of 2024 fiscal.

Torrent Pharmaceuticals: The company redeemed its non-convertible debentures of Rs 145 crore.

Q4 Earnings Results: IIFL Securities Q4 FY23 Revenues were up by 15.9% at Rs 401.9 crore. Ebitda was up by 21.13% at Rs 151.77 crore and Ebitda margin stood at 37.76% vs 36.13% last year. Net profit was up by 9.36% at Rs 86.34 crore.

Mahindra Logistics Q4 FY23 Revenues were up by 16.9% at Rs 1,272.51 crore. Ebitda was up by 23.85% at Rs 63.72 crore and Ebitda margin stood at 5.01% vs 4.73% last year. Net profit was down by 96.82% at Rs 0.2 crore.

Q4 Results Today: Tata Consumer Products, Tata Steel Long Products, Bajaj Auto, Nestle India, Mahindra CIE Automotive, Mahindra Holidays & Resorts India, Nippon Life India Asset Management, Dalmia Bharat, HDFC Asset Management Company, Mahindra Lifespace Developers etc

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