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 84 points higher at 24,586 on Monday - ARETE Securities Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
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 84 points higher at 24,586 on Monday.
Ashok Leyland:
The company bagged its single largest order of 2,104 fully built buses from Maharashtra State Road Transport Corporation worth INR 981.45 crore.
Balkrishna Industries:
The company completed the manufacturing of a mould plant at Bhuj.
Century Textiles and Industries:
The company's Birla Estates secured a prime 5-acre land parcel in Sector 71, Gurugram, with future development potential of ~1 million square feet and an approximate topline of INR 1,400 crore+.
HUL:
The company signed an agreement to sell its Pureit business in India to A.O. Smith on a slump sale basis for an enterprise value of $72 million.
Hindalco:
The company approved the sale of land situated at Kalwa, Maharashtra; expects to receive INR 595 crore in multiple tranches over time, along with 1.5% of the sales revenue.
Jio Financial Services:
The company commenced leasing AirFiber devices in June 2024, will offer EMI on credit/debit cards and brand EMI, and tied up with 31 insurance companies for insurance broking.
Max Estates:
The company approved a fundraise worth up to INR 8 billion.
Mishtann Foods:
The company reported Q1 EBITDA of INR 726M (vs INR 727M YoY), with Q1 EBITDA margin at 19% (vs 24.7% YoY); Q1 consolidated net profit was INR 713M (vs INR 689M YoY), and Q1 revenue was INR 3.82B (vs INR 2.93B YoY).
PTC Industries:
The company's board approved raising INR 700 crore via QIP.
RVNL:
The company updated regarding LOA received from East Coast Railway worth INR 160 crore.
Ugro Capital:
The company is on track to achieve its stated business target of 50% off-book AUM proportion; achieved off-book AUM of 45% as of June' 2024, up from 43% in June' 2023; overall AUM as on Q1FY25 stood at INR 9,200+ crore vs INR 9,047 crore in Q4'FY24 and INR 6,777 crore in Q1'FY24.
Vodafone Idea:
The company filed a plea to correct alleged errors in the computation of its AGR dues, with its current AGR liability at approximately INR 70,300 crore, potentially reducing its liability by INR 30,000-35,000 crore if successful.
Zee Entertainment Enterprises:
The company's shareholders approved the issue of securities up to INR 20 bn.
Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740
