IGI Logo

The Markets are expected to open marginally lower today as trend in GIFT nifty indicate a negative start for the broader index after Nifty closed 215 points higher at 21,454 on Wednesday.

Mazagon Dock Shipbuilders

: The company signed a contract worth of Rs 1,070 crore with the acquisition wing of the Ministry of Defense for the construction and delivery of Fourteen fast patrol vessels for the Indian Coast Guard.

DLF:

The board approved the sale of the asset 'DLF Centre' to unit DLF cyber city developers for consideration of Rs 825 crore

CEAT:

The company approved a capex expansion plan of Rs 572 crore at existing Plants. The proposed amount is to be spent over 3 years and is to be funded by debt and internal accruals.

Coal India:

The company and Bharat Heavy Electricals will invest up to Rs 11,782 crore in coal-to-ammonium nitrate joint venture project in Odisha. The company and GAIL invest up to Rs 13,053 crore in a coal-to-SNG JV project in West Bengal.

Piramal Enterprises:

The company’s unit has agreed to buy a 10.39% stake in Annapurna Finance for Rs 300 crore through a mix of equity and debt.

Coal India, Reliance Industries, Adani Enterprises, BHEL, Gail, IOCL, NLC India: Cabinet approved the scheme for the promotion of coal gasification projects with an outlay of Rs 8,500 crore. Incentives for coal gasification projects to be implemented under 3 categories.

Zee Entertainment Enterprises:

The company has moved the National Company Law Tribunal seeking directions to implement the merger with Sony Group Corp.'s Indian subsidiary.

Tata Motors:

The company has sought to deregister all its U.S.-listed securities from the country's capital markets regulator after meeting the set criteria for the action.

Earnings Results Q3FY24:

Tata Steel Q3(Consolidated, YoY) Revenue was down 3.11% at Rs 55,311.9 crore vs Rs 57,083.6 crore. Ebitda was up 54.73% at Rs 6,263.59 crore vs Rs 4047.88 crore. Margin expands by 423 bps to 11.32% vs 7.09%. Net profit stood at Rs 522.1 crore vs loss of Rs 2,502 crore.

Earnings In Focus:

JSW Steel, SBI Life, Cipla, Cholamandalam Investment, Shriram Finance, SBI Cards, AU Small Finance Bank, Tata Tech, ACC, Indraprastha Gas, Syngene International, Manyavar, Cyient, TVS Holdings, Asahi India Glass, etc.

Please refer disclaimer at http://www.aretesecurities.com/

SEBI Regn. No.: INM000012740