Daily Stock Market Snapshot 29 April 2024

IDFC First Bank March 2024 (Quarterly) PAT at Rs 732 crore vs Rs 816 crore YoY. GNPA at 1.88% vs 2.04% QoQ; Net NPA at 0.6% vs 0.68% QoQ.

IDFC First Bank: The Board has approved the proposal for re-appointment of Mr. V. Vaidyanathan as the MD & CEO of the Bank, for a further period of three years, post the expiry of his current term on December 18, 2024.

Virinchi Ltd has allotted 20,00,000 Equity Shares of Rs. 10/- each at the issue price of Rs. 42/- (premium of Rs 32/- on each equity share) on conversion of warrants issued on preferential basis to the promoter group.

NBCC has accorded the In-principle approval for incorporation of a wholly owned subsidiary in Dubai (UAE) subject to the approval of its Administrative Ministry i.e. Ministry of Housing and Urban Affairs.

IRCON International under its Joint Venture with Dineshchandra R Agrawal lnfracon Pvt Ltd bags an EPC order of Rs 1,198 crore from East Coast Railway.

Indian Renewable Energy Development Agency: The Department of Public Enterprises has granted the ‘Navratna status’ to the company.

Lasa Supergenerics: Mr. Ravi Shankar Kabra – Chief Financial Officer and Key Managerial Personnel of the Company, has tendered his resignation due to health reasons and preoccupations.

Apollo Hospitals’ subsidiary “Apollo HealthCo” to raise equity capital of Rs 2,475 crores from Advent International, a private equity firm.

Vodafone Idea: ATC Telecom Infrastructure has divested its entire stake in Vodafone Idea, selling all of its 144 crore equity shares, which represents 2.87% of the paid-up equity, at an average price of Rs.12.78 per.

Bata India has executed the sale deed with Amolik Buildcon LLP for the Faridabad Land and has received the entire consideration (net of TDS), that is, Rs 154.44 crores.

Rain Industries: India Ratings has revised Rain Industries Ltd’s Outlook to ‘Stable’ from ‘ Positive’, while affirming its Lon Term Issuer Rating at ‘IND A’.

Cipla has completed the purchase of the distribution and marketing business undertaking of cosmetics and personal care business from lvia Beaute Private Limited,through a slump sale arrangement.

NllT: Mr. Bimaljeet Singh Bhasin, President – Enterprise Business India, a Senior Management Personnel of the Company, has tendered his resignation from services of the Company to pursue new opportunity.

Exide Industries acquired 26% stake in Clean Max Arcadia for 53.43 million. Clean Max Arcadia is a special purpose vehicle promoted and incorporated by Clean Max Enviro Energy Solutions.

Tata Motors Limited has received order confirming demand on account of short payment of Tax and excess availment of credit under section 73 of the CGSTI SGST Act, 2017 .

Tax: Rs.1,92,83,966,

Interest : Rs.2,04,93,836,

Penalty : Rs.19,28,396.

Persistent Systems Limited – Mr. Rajiv Sodhi, Senior Vice President – Customer Partnerships of the Company tendered his resignation effective February 9, 2024, due to personal reasons.

Glenmark Pharmaceutic als receives ANDA approval for Acetaminophen and Ibuprofen Tablets.

Adani Enterprises its subsidiary Adani Airports, Fairfax, and GMR Group have expressed interest in developing the 22.03 billion greenfield airport near Sipasarubali in Puri.

L&T Finance plans to enhance short-term borrowings via commercial papers by up to 15% from the current 5% and also tap external commercial borrowings.

State Bank Of India likely has received the go-ahead from the government to divest its 25.02% stake in Yes Bank, as the lock-in period ended in March.

TVS Motor Company is displaying its electric scooter, TVS iQube, for the first time at the Makina Motoshow in Manila, Philippines.

Adani Global Limited, Mauritius, a wholly owned subsidiary of Adani Enterprises has completed the acquisition of 49% stake of Adani Esyasoft Smart Solutions Limited, Abu Dhabi from Esyasoft Holding Limited, UAE.

HCL Software, the software business unit of HCL Tech, announced that it has been selected by State Bank of India for their MarTech solution as part of SBl’s digital transformation program.

Tata Chemicals March 2024 (Quarterly) Income at Rs 3,475 crore vs Rs 4,407 crore YoY. Profit before exceptional Items, share of P/(L) of JV and associate and lax at Rs 156 crore vs Rs 673 crore YoY. Loss at Rs 841 crore vs PAT of Rs 692 crore YoY.

Jana Small Finance Bank March 2024 (Quarterly) PBT at Rs 166 crore vs Rs 81 crore YoY. PAT at Rs 322 crore vs Rs 81 crore YoY. GNPA 2.11% vs 2.19% QoQ; Net NPA 0.56% vs 0.71% QoQ.

Birlasoft March 2024 (Quarterly) Income at Rs 1,363 crore vs Rs 1,226 crore YoY. PAT at Rs 180 crore vs Rs 112 crore YoY.

PNB Housing Finance March 2024 (Quarterly) Income at Rs 1,810 crore vs Rs 1,636 crore YoY. PAT at Rs 439 crore vs Rs 279 crore YoY.

Trent Ltd Mar 2024 (quarterly) Net Profit z712 crore Vs z45 crore yoy. Revenue z3298 crore Vs z2183 crore yoy.

Ultratech Cement Mar 2024 (quarterly) Net Profit z2259 crore Vs z1670 crore yoy. Revenue z20419 crore Vs z18662 crore yoy.