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Market Updates

The Markets are expected to open marginally higher today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 83 points higher at 19,833 on wednesday.
 

Olectra Greentech:

The company has awarded a Rs 395.12 crore contract to Megha Engineering & Infrastructure to construct a greenfield electric vehicle manufacturing facility at Seetharampur, Hyderabad.

Genus Power Infrastructures:

The company has incorporated a wholly-owned step-down subsidiary, Genus Chhattisgarh PKG-1 SPV to execute Advanced Metering Infrastructure Service Provider (AMISP) contract.
 

Vishnu Chemicals:

Its unit, Vishnu Barium has acquired 100% stake in Ramadas Minerals for Rs 26 crore. Ramadas conducts business of beneficiation of Baryte ores and had a turnover of Rs 2.12 crore in FY23.

Dr Reddy's Laboratories:
The drug maker received zero observations and no action from USFDA at its API manufacturing facility in Srikakulam. The inspection was conducted from July 10 to 19.
 

PNC Infratech:
The company signed a concession agreement with National Highways Authority of India for three Hybrid Annuity Model projects worth Rs. 3264.43 crore.
 

Avenue Supermarts:
The company has opened a new store at Akola, Maharashtra taking the total number of stores to 330.
 

Mastek:
The company signed definitive agreement to acquire BizAnalytica for an upfront payment of $16.72 million (Rs 137.24 crore) and earn out up to $24 million (Rs 196.99 crore)
 

Result Update Q1FY24:
Tata Communications Q1 FY24 Consolidated Revenue was up 11% at Rs 4,771.36 crore vs. Rs 4,310.52 crore last year. Net profit was down 30% to Rs 381.75 crore vs. Rs 544.82 crore. Ebitda was at Rs 1,024.04 crore vs. Rs 1,077.03 crore, down 5% from last year. Margins were at 21.5% vs. 25% .
 

Earnings Today:
United Spirits, 360 One Wam, Coforge, CSB Bank, Dalmia Bharat, DB Corp, Havells India, Hindustan Unilever, HMT, Infosys, ICICI Securities, Kirloskar Pneumatic, Mphasis, Nelco, Persistent Systems, Rajnish Wellness, Reliance Industrial Infrastructure, Shalby, South
Indian Bank, Tanla Platforms, Union Bank of India, Zensar Technologies.
 

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