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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 183 points lower at 22,704 on Wednesday.

Tata Steel:

The company has announced the conversion of debt instruments worth $565 million into equity shares held in T Steel Holdings Pte. Ltd.

SJVN:

The company has approved the signing of a joint venture agreement with IOC to develop green RTC/renewable projects and other new technology-based projects.

Jubilant Pharmova:

The company’s wholly-owned subsidiary ‘JPL’ plans to sell its 25.8% stake in Sofie Biosciences Inc. at an aggregate value of USD 143.27 million or ?1200 crore.

RVNL:

The company has secured an order valued at ?38 crore for signalling work.

Avantel:

The company has received an order worth ?110 crore for supplying SATCOM equipment to the Defence Ministry.

Kabra Extrusion Technik:

The company, along with Battrixx and Eve Power, will cooperate to provide battery energy storage system solutions in India.

ITC:

The CCI has approved the demerger of the hotels business from ITC Limited to ITC Hotels Limited.

Suzlon:

The company has secured a new 551.25 MW order for the 3 MW series from the global Indian conglomerate, Aditya Birla Group.

G.R. Infraprojects:

The company has issued non-convertible debts on a private placement basis up to ?200 crore.

Nazara Technologies:

The company’s entity, Nazara Mauritius, has completed the sale and transfer of its 100% stake in NZMobile to Lychee Ventures for a total cash consideration of $260,000.

Cummins India Q4 FY24:

Revenue increased by 19.9% to ?2,319 crore, EBITDA rose by 63.1% to ?539 crore, margins improved to 23.2% from 17.1%, net profit jumped by 54.4% to ?539 crore, and a final dividend of ?20/share was recommended.

Bata India Q4 FY24:

Revenue increased by 2.5% to ?798 crore, EBITDA marginally rose by 0.1% to ?182 crore, margins decreased by 53 bps to 22.8%, net profit declined by 3% to ?64 crore, and a dividend of ?12/share was recommended.

Lemon Tree Hotels Q4 FY24:

Revenue grew by 29.5% to ?327 crore, EBITDA increased by 22.6% to ?171 crore, margins were at 52.4% down from 55.4%, net profit rose by 42.3% to ?84 crore, with the PAT level divergence attributed to a tax write-back of ?13.7 crore.

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