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Market Updates

The Markets are expected to open marginally lower today as trend in SGX nifty indicate a negative start for the broader index after Nifty closed 79 points higher at 19,811 on Tuesday.

ICICI Bank, Kotak Mahindra Bank

The RBI imposed a penalty of Rs 12.19 crore on ICICI Bank and Rs 3.95 crore on Kotak Mahindra Bank for non?compliance with certain regulatory norms.

Grasim Industries:

The cement maker restarted operations of carbon dioxide refining on Tuesday after obtaining approval from the Department of Industrial Safety and Health, Kalyan. The company also obtained other permissions and deposited a bank guarantee of Rs 2 lakh with Kalyan (MPCB), which shall be forfeited for re?starting the operations.

Mazagon Dock Shipbuilders:

The company signed a contract with the Ministry of Defence for the construction and delivery of one training ship for the Indian Coast Guard at a cost of Rs 310 crore.

Exide Industries:

The company will invest Rs 100 crore in Exide Energy Solutions.

L&T Technology Services:

The company's board declared an interim dividend of Rs 17 per equity share.

HUDCO:

The government will sell up to a 7% stake in HUDCO via an offer for sale. The OFS includes an optional 3.5% additional stake sale. The floor price of OFS was set at Rs 79 per share, at a discount of 12.17% from the previous close.

Lemon Tree Hotels:

The company signed an agreement for a 45?room hotel in Vadodara, Gujrat.

Bajaj Electricals:

The company received a Rs 347.29 crore service contract from Power Grid Corp.

Earnings Results:

Bajaj Finance Q2 FY24 (Standalone, YoY) Net profit is up 25.62% at Rs 3,105.75 crore vs. Rs 2,472.24 crore. Total income was up 32.57% to Rs 11,409.98 crore vs. Rs 8,606.24 crore. Net interest income rose 26% to Rs 8,059 crore. Assets under management grew by 35% year?on?year in Q2 FY24 and stood at Rs 2.15 lakh crore. The consolidated AUM also rose by 33% in the quarter ended September.

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