Daily Stock Market Snapshot 6 May 2024

Apcotex Industries March 2024 (Quarterly) Income at Rs 311 crore vs Rs 256 crore YoY. PAT at Rs 15.3 crore vs Rs 23.2 crore YoY.

CG Power March 2024 (Quarterly) Income at Rs 2,192 crore vs Rs 1,903 crore YoY. Profit before exceptional items and tax Rs 307 crore vs Rs 262 crore YoY. PAT at Rs 234 crore vs Rs 426 crore YoY.

Indian Bank March 2024 (Quarterly) PAT at Rs 2,296 crore vs Rs 1,520 crore YoY. GNPA 3.95% vs 4.47% QoQ; Net NPA at 0.43% vs 0.53% QoQ.

Arvind March 2024 (Quarterly) Income at Rs 2,075 crore vs Rs 1,881 crore YoY. PAT at Rs 104 crore vs Rs 97 crore YoY.

Marico Ltd Mar 2024 (quarterly) Net Profit 320 crore Vs 305 crore yoy, Revenue 2278 crore Vs 2240 crore yoy.

Coromandel International Limited has announced increasing its investment in Ecozen. Coromandel has increased its shareholding in Ecozen to 5.54%, an increase of 3.13%.

HCLTech announced a global strategic collaboration agreement with Amazon Web Services (AWS) to accelerate GenAl-led enterprise digital Transformation.

Ashok Leyland will roll out six new light commercial Vehicles (2-3.5 tn) in the next 12 months as part of a Plan to increase its light commercial vehicles market share to 25% from 20% now.

Cipla and Glenmark Pharmaceuticals are recalling products from the American market due to manufacturing issues.

Lupin launched its first biosimilar product in Canada. The company has introduced Rymti through its partner Sandoz Canada.

United Breweries Received a goods and services tax demand of Rs 494.2 million, including a penalty of Rs 31.8 million from the Assist ant Commissioner, Kolkata.

Vodafone Idea likely has expedited talks with European vendors Nokia and Ericsson to upgrade its 4G network and purchase orders are likely to be issued in Jun-Jul.

Colgate-Palmolive (India) Limited has received a penalty order for FY 2020-21 amounting to Rs 13,53,58,847 for the alleged failure to maintain adequate documentation with respect to transfer pricing regulations.

Tata Power Renewable Energy Limited a subsidiary of the Tata Power, has signed a Power Purchase Agreement with SJVN Limited for a 460 MW Firm and Dispatchable Renewable Energy Project.

Sun Pharmaceutical Industries Limited has entered into an agreement, pursuant to which Sun Pharma, through its wholly owned subsidiary, has agreed to acquire 100% shares of Valstar S.A.

Sentynl Therapeutics lnc. USA, a wholly owned subsidiary of Zydus Lifesciences Limited has acquired worldwide proprietary rights to Zokinvy from Eiger Biopharmaceuticals Inc., USA.

REC Limited has received “No Objection Certificate”, 2024 from the Reserve Bank of India for setting up a wholly owned subsidiary in International Financial Services Centre (IFSC), Gujarat International Finance Tec-City, Gandhinagar, Gujarat.

Aurobindo Pharma – USFDA inspected Unit-II, of Eugia Pharma Specialities Ltd. The inspection closed with 7 observations. The observations are procedural in nature and will be responded to within the stipulated time.

Titan Company Limited has approved re­ appointment of Mr. C K Venkataraman as the Managing Director of the Company for a further period with effect from 1st October 2024 upto 31st December 2025.

Dr. Reddy’s Laboratories announced its launch of Doxycycline Capsules, 40 mg* in the U.S. market, a therapeutic generic equivalent of ORACEA Capsules, 40 mg approved by the USFDA.

Mahindra & Mahindra Financial Services Limited – Update on reporting of fraud at Company’s branch in Aizawl, Mizoram – The said fraud has impacted the profits for the quarter and year ended 31st March 2024 to the extent of Rs 135.86 Crore.

Belstar Microfinance, the microflnance subsidiary of Muthoot Finance, submitted a draft red herring prospectus to the Securities and Exchange Board of India to raise Rs 13 billion through an initial public Offering.

Craftsman Automation Ltd has entered into definitive agreement to acquire the remaining 24% of equity share capital ie., 2,70,83,884 of Rs 10/- of DR Axion India Pvt Ltd, a Material Subsidiary of the Company.

Amber Enterprises has acquired 50% stake for Rs 35 crore through primary investment in equity share capital of Resojet Pvt Ltd.

Zydus Lifesciences’ wholly owned subsidiary ‘Sentynl Therapeutics Inc., USA’ has acquired worldwide proprietary rights to Zokinvy® (lonafarnib) from Eiger Biopharmaceuticals Inc., USA.

Paras Defence bags an order of Rs 20 crore from Indian Farmers Fertiliser Cooperative Ltd.

VA Tech Wabag launches ‘ BLUE SEED’ – A pioneering initiative to empower promising start-ups in Water Sector.

Larsen & Toubro: CRISIL has assigned “CRISIL AAA/Stable” rating for the Non-convertible Debentures of Rs 7,500 crore proposed to be issued by the Company.

Saint-Gobain Sekurit: The Board has appointed Mr. K.S. Gopalakrishnan as Managing Director of the Company for a period of three years with effect from May 5, 2024.

One97 Communic ations: Mr. Bhavesh Gupta, President and Chief Operating Officer of the Company has tentered his resignation. Mr. Gupta will continue to support the Company as an Advisor in the CEO office after May 31, 2024.

Avenue Supermarts: Mr.Stephen Thomas has been appointed as ‘Head – Food Services’, designated as Senior Management Personnel of the Company with effect from 4th May, 2024 to oversee the food services business.

Yes Bank: The Board has approved the allotment of 128 crore fully paid up equity shares of Rs 2/- each of the Bank to Verventa pursuant to exercise of 128 crore share warrants allotted to Verventa on December 13, 2022 at a price of Rs. 14.82/share Warrant.