The markets are expected to open marginally lower today as trends in GIFT NIFTY indicate a negative start - ARETE Securities Ltd
Market Updates
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 130 points higher at 23,155 on Wednesday.
Advait Energy Transitions:
The company signed an MoU with Haryana City Gas Distribution to establish a 2000 MTPA Green Hydrogen Plant and supply 15 MW of alkaline electrolysers.
Agro Tech Foods:
The company received CCI approval for acquiring Del Monte Foods Private Limited for ?1,300 crores.
Archean Chemical Industries:
The company signed an MoU and SSA to invest $12 million for a 21% stake in Offgrid Energy Labs, specializing in zinc-bromide batteries.
Bharat Petroleum:
The company formed a 50:50 JV with Praj Industries to set up Compressed Bio Gas plants across India.
Elecon Engineering Company:
The company reported Q3FY25 results with revenue up +11.6% YoY to ?529 crore (?4.1% QoQ), EBITDA up +19.2% YoY to ?143 crore (?27.7% QoQ), PAT up +20.0% YoY to ?108 crore (?22.7% QoQ), and EBITDA margin at 27.0% (?500 bps QoQ).
Graivta India:
The company reported Q3FY25 results with revenue up +31.4% YoY to ?996 crore (?7.4% QoQ), EBITDA up +14.0% YoY to ?102 crore (?0.8% QoQ), PAT up +29.3% YoY to ?78 crore (?8.2% QoQ), and EBITDA margin at 10.3% (?60 bps QoQ).
Hindustan Unilever:
The company signed an agreement to acquire 90.5% of Uprising Science Private Limited (Minimalist) for ?2,670 crores, with full acquisition planned in two years.
HUDCO:
The company signed an MoU with Vadhvan Port Project Limited to explore funding of ?25,000 crores for new ports and PPP projects.
Indian Metals & Ferro Alloys:
The company signed a 25-year PPA with JSW Green Energy for 70 MW hybrid renewable power, integrating solar and wind energy.
Paras Defence:
The company signed an MoU with the Government of Maharashtra for an Optics Park Project in Navi Mumbai, planning to invest ?12,000 crores over ten years.
Rossari Biotech:
The company reported Q3FY25 results with revenue up +10.5% YoY to ?513 crore (?2.9% QoQ), EBITDA up +1.7% YoY to ?65 crore (?1.7% QoQ), PAT down -7.8% YoY to ?32 crore (?10.2% QoQ), and EBITDA margin at 12.6% (?60 bps QoQ).
Tera Software:
The BharatNet project Advance Work Order was revised to ?5,104 crores for Middle Mile networks in Himachal Pradesh, WB, and Andaman & Nicobar.
Waaree Energies:
The company started commercial production of a 1.6 GW solar module line in Brookshire, Texas, marking its first U.S. manufacturing operation.
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