The Markets are expected to open marginally higher today as trend in SGX nifty indicate a positive start - Arete Securities
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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 109 points higher at 19,545 on thursday.
Tata Motors:
Retail sales for JLR grew 21% year-on-year to 1,06,561 units, while wholesales were at 96,817 units, up 29% year-on-year. JLR's order book stands at 1.68 lakh units and states an expectation of becoming free cash flow positive with £300 million in Q2 FY24.
Bajaj Finance:
The company will raise an aggregate of Rs 10,000 crore through a combination of preferential issues and qualified institutional placements. The company's board approved raising Rs 8,800 crore via QIP, along with approval to raise Rs 1,200 crore via preferential issue of warrants.
L&T:
The company announced the voluntary liquidation of its joint venture L&T Hydrocarbon Caspian (Azerbaijan), which has been approved by the Azerbaijani government. Consequently, L&T Hydrocarbon Caspian has ceased to be a JV.
Godrej Consumer:
The company estimated double-digit growth in organic sales in the September quarter despite facing challenges in a tough macroeconomic environment. It reported mid-single-digit growth in the home care segment and consolidated volumes. Consolidated sales grew in the low single digits.
Adani Wilmar:
Edible oil volumes grew 5% year-on-year during the second quarter of FY24. Food and FMCG volumes grew 18% YoY, and industry essentials volumes grew 25% YoY. However, standalone sales value growth fell 13% over the previous year, reflecting the price cuts taken on account of the sharp fall in global edible oil prices.
SJVN:
The government will offer up to 1,81,000 shares with a face value of Rs 10 each to eligible employees at Rs 70.10 per share via offer-forsale. The offer shall remain open from Oct. 6 to Oct. 10.
KPI Green Energy:
The company received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity was undertaken by KPI Green Energy and 9 MW capacity by unit Sun Drops Energia.
Lemon Tree Hotels:
The company opened a 669-room hotel in Mumbai, India’s largest by number of rooms, under the Aurika Hotels & Resorts brand.
Sun Pharma:
The company will acquire a 37.76% stake in Ezerx Health Tech for Rs 28.69 Cr and a 4.04% stake in Agatsa Software for Rs 4.5 Cr.
Please refer disclaimer at http://www.aretesecurities.com/
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