The markets are expected to open marginally lower today - ARETE Securities Ltd
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The markets are expected to open marginally lower today as trends in GIFT Nifty indicate a negative start for the broader index after Nifty closed 293 points lower at 24,717 on Friday.
Adani Energy Solutions:
The company determined and approved the issue price of INR 976 per equity share, reflecting a 4.98% discount to the floor price of INR 1,027 per share, for allotment to eligible qualified institutional buyers.
Affle (India):
The company reported Q1 EBITDA of 1.05B INR, a 34.4% increase from 782M INR YOY, with an EBITDA margin of 20.13%, up from 19.23% YOY. Q1 consolidated net profit of 866M INR, a 30.8% increase from 662M INR YOY, and Q1 revenue of 5.19B INR, a 27.6% increase from 4.07B INR YOY.
Ambuja Cements:
The company announces an INR 1,600 crore investment to set up a 6 MTPA cement grinding unit in Bihar.
Britannia Industries:
The company reported Q1 EBITDA of INR 7.5B, up 8.7% YOY, with an EBITDA margin of 17.72%, up from 17.18% YOY. Q1 consolidated net profit was INR 5B, up 9.17% YOY and down 7.41% QoQ. Q1 revenue was INR 42.5B, up 5.96% YOY.
Power Mech Projects:
The company received an order worth INR 1.43B for the revival of Phase II (2 x 350 MW) of Meenakshi Energy Ltd, located in Nellore District, Andhra Pradesh.
Sarda Energy & Minerals:
The company approved raising of funds up to 1,000 crore INR through equity instruments and an additional 1,000 crore INR through debt instruments.
Savita Oil Technologies:
The company approved a buyback at the price of INR 465 per share via tender offer route, with the buyback worth INR 36.45 crore.
Sharda Motor Industries:
The company reported Q1 EBITDA of INR 957M, up 40.32% YOY, with an EBITDA margin of 13.96%, up from 10.43% YOY. Q1 consolidated net profit was INR 768M, up 39.13% YOY and down 13.04% QoQ. Q1 revenue was INR 6.85B, up 4.74% YOY.
Tinna Rubber and Infra:
The company reported Q1 EBITDA of 229M INR vs 121M (YOY), Q1 EBITDA margin of 16.81% vs 15.02% (YOY), Q1 SL net profit of 143M INR vs 70M (YOY), 141M (QoQ), Q1 revenue of 1.35B INR vs 806M (YOY).
Utkarsh Small Finance Bank:
The company reported Q1 SL net profit of 1.37B INR, a 28% increase from 1.07B INR YOY, Q1 revenue of 9.66B INR, a 34.2% increase from 7.2B INR YOY, Q1 GNPA of 2.78%, up from 2.51% QoQ, and Q1 NNPA of 0.26%, up from 0.03% QoQ.
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