Daily Stock Market Snapshot 2 May 2024

CEAT March 2024 (Quarterly) Income at Rs 2,992 crore vs Rs 2,875 crore YoY. PAT at Rs 102 crore vs Rs 132 crore YoY

Voltamp Transformers March 2024 (Quarterly) Income at Rs 504 crore vs Rs 440 crore YoY. PAT at Rs 94 crore vs Rs 77 crore YoY

Ramkrishna Forgings March 2024 (Quarterly) Income at Rs 1,023 crore vs Rs 892 crore YoY. PAT at Rs 94 crore vs Rs 68 crore YoY

Blue Star March 2024 (Quarterly) Income at Rs 3,328 crore vs Rs 2,624 crore YoY. PAT at Rs 160 crore vs Rs 225 crore YoY. The company had exceptional gain of Rs 171 crore in Q4FY23

ADANI ENTERPRISES LIMITED Mar 2024 (quarterly) Net Profit Rs.352 crore Vs Rs.781 crore yoy. Revenue Rs.29180 crore Vs Rs.28944 crore yoy

HCL Technologies and Cisco today announced the launch of Pervasive Wireless Mobility as-a-Service for secure and seamless enterprise-wide connectivity.

Dabur India Mar 2024 (quarterly) Net Profit 341 crore Vs 293 crore yoy. Revenue 2815 crore Vs 2678 crore yoy

Airtel celebrates 5.2 million 5G customers in Maharashtra excluding Mumbai.

Adani Ports and Special Economic Zone Mar 2024 (quarterly) Net Profit Rs. 2015 crore Vs Rs. 1139 crore yoy. Revenue Rs. 6897 crore Vs Rs 5797 crore yoy.

The Federal Bank Mar 2024 (quarterly) Net Profit Rs.972 crore Vs Rs.940 crore yoy. Gross NPA at 2.11% Vs 2.28% qoq, Net NPA at 0.63% Vs 0.38% qoq.

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) announced Total tractor sales (Domestic + Exports) during April 2024 were at 37039 units, as against 36405 units for the same period last year.

Mahindra & Mahindra Ltd. Announced that its overall auto sales for the month of April 2024 stood at 70,471 vehicles, a growth of 13%, including exports.

L&T Technology Services and FORVIA signed a strategic partnership – which represents a contract of approximately €45 million – on Engineering development activities for the benefit of its Clean Mobility division.

Bajaj Auto April Total sales 388256 units vs 331278 Units, up 17%.

Tata Steel industrial consulting division likely has partnered llT Dhanbad’s Technology Innovation in Exploration and Mining Foundation, or TEXMiN, to reshape the landscape of natural resource management in India.

Crompton Greaves Consumer Electricals Limited has received an order from the Office of the Deputy Commissioner of State Tax, Maharashtra imposing demand of Rs.22,49,71,566/-.

Bharti Airtel announced that Airtel Xstream Play, India’s fastest-growing OTT aggregator service with over five million paid subscribers, has partnered wit Sun NXT, a leading video streaming platform, owned and operated by the Sun TV Network Limited.

Indiamar lntermesh – Mr. Vivek Agrawal, Senior Vice President has tendered his resignation from the services of the Company with effect from the close of business hours of May 03, 2024.

Lupin Ltd has received an Order from the Orissa GST Authority imposing penalty of Rs.94,48,568/-.

The Godrej family announced an ownership realignment of their shareholdings in the Godrej Companies . The realignment will be implemented after the relevant regulatory approvals have been obtained.

Larsen & Toubro Limited – Joint Commissioner, Jaipur, Rajasthan passed an order, arbitrarily demanding tax of Rs. 374,68,97,012/-.

Vodafone Idea Limited – Assistant Commissioner of Revenue, Kolkata passed an order confirming penalty of Rs. 47,97,367.00/- along with demand of tax and Interest as applicable.

Kotak Mahindra Bank Limited – KVS Manian resigns as Joint Managing Director of Kotak Mahindra Bank with immediate effect.

RBL Bank Limited – Mr. Brijesh Mehra, Head Wholesale Bank, being part of the Senior Management of RBL Bank Limited, will be retiring from the Bank effective closing of business hours on April 30, 2024.

SBI Life Insurance Company Ltd. has received an order from the Deputy Commissioner of State Tax, Mumbai Maharashtra. Tax Amount-Rs.131,49,75,136/- , Interest – Rs.144,01,84,870/- ,Penalty – Rs.13,14,97,514/-, Total Amount –Rs. 288,66,57,520/-.

lnterGlobe Aviation Limited – Assistant Commissioner of State Tax, Ahmedabad raised an demand of Rs.15,03,17,983/- including input tax of Rs.7,45,93,916/-, interest of Rs.6,82,46,488/- and penalty of Rs.74,77,579/- for the FY 2018- 19.

Tata Consultancy Services has received the order from Authority levying penalty of Rs.1,34,22,621/­ under section 73(9) of GST Act alleging disallowance of input tax credit of GST for the financial year 2018-19.

Hero MotoCorp and iconic American motorcycle­ maker Harley-Davidson have announced the pricing for Harley-Davidson 2024 model motorcycles across India.

Wipro announced that it has been selected by Nokia to overhaul its employee service desk and provide seamless, real-time IT support to a global network Of employees.

United Spirits Limited – The Official Liquidator M/s. United Breweries (Holdings) Private Limited (UBHL) has made a claim of Rs.66.6/- crore purportedly as loans and advances repayable to UBHL along with interest.

Tata Motors Limited has received order demand on account of short payment of Tax and excess availment of credit under . Tax : Rs.115,36,47,240/-, Interest : not quantified in the order, Penalty : Rs.97,09,12,794/-.

Infosys Limited: Deputy Commissioner of Income Tax Bengaluru, has issued a rectification order on tax demand. The tax demand stands revised from Rs.2,763 crore to Rs.1505 crore.

Ashok Leyland April Total sales 14271 units vs 12974 units, up 10%.

Coal India – April business update: Production at 61.8 Mill Te vs 57.6 Mill Te YoY; Offtake at 64.3 Mill Te vs 62.3 Mill Te YoY.

Escorts Kubota Ltd- Agri Machinery Business division in April 2024 sold 7,515 tractors as against 7,565 tractors sold in April 2023.

Atul Auto: Sales for the month of April at 1,692 units vs 715 units YoY.

TVS Motor Company registered a growth of 25% with sales increasing from 306,224 units in April 2023 to 383,61 5 units in April 2024.

Tata Motors registered total sales of 77,521 units in April 2024. Total CV Sales of 29,538 units, 31% YoY, total PV Sales of 47,983 units, 2% YoY.

Cigniti Technologies March 2024 (Quarterly) Income at Rs 456 crore vs Rs 425 crore YoY. PAT at Rs 27 crore vs Rs 49 crore YoY.

Dhampur Sugar Mills March 2024 (Quarterly) Income at Rs 562 crore vs Rs 671 crore YoY. PAT at Rs 52 crore vs Rs 61 crore YoY.

SIS Ltd March 2024 (Quarterly) Income at Rs 3,138 crore vs Rs 2,996 crore YoY. PAT at Rs 54 crore vs Rs 93 crore YoY.

Vardhman Special Steels March 2024 (Quarterly) Income at Rs 439 crore vs Rs 422 crore YoY. PAT at Rs 33 crore vs Rs 14 crore YoY.

Adani Power March 2024 (Quarterly) Income at Rs 13,364 crore vs Rs 10,242 crore YoY. Profit before Tax and Deferred Tax (adjustable) from future tariff Rs 3,558 crore vs Rs 898 crore YoY. PAT at Rs 2,737 crore vs Rs 5,242 crore YoY.

Greenpanel Industries March 2024 (Quarterly) Income at Rs 397 crore vs Rs 441 crore YoY. PAT at Rs 30 crore vs Rs 69 crore YoY.

Adani Wilmar March 2024 (Quarterly) Income at Rs 13,238 crore vs Rs 13,873 crore YoY. PAT at Rs 157 crore vs Rs 94 crore YoY.

Orient Cement March 2024 (Quarterly) Income at Rs 888 crore vs Rs 876 crore YoY. PAT at Rs 68 crore vs Rs 67 crore YoY.

Vardhman Special Steels: The Board has approved Capex amounting to Rs 33 crore (approx.) towards increasing the capacity of Steel Melting Shop.

Hero MotoCorp: Total motorcycles and scooters sales in April at 533,585 units vs 396,107 units YoY.

Asian Hotels (North): Mr. Ashish Dhanuka has expressed his intent to resign from the position of Whole Time Director and Chief Financial Officer of the Company due to personal reasons.

Fiem Industries: Mr. Subhash Chandar Saraswat – President (Operations) has resigned from services of the Company w.e.f. close of business hours on April 30, 2024.

JSL announces Rs 5,400 crore strategic investments, capacity expansion to 4.2 MTPA. 1. JV (49%) for 1.2 MTPA stainless steel melt shop in Indonesia; 2. Expansion in downstream capacity in Odisha; 3. Acquisition of 54% stake in Chromeni Steels in Gujarat.

V.S.T. Tillers Tractors: Total Power Tiller & Tractor sales in Apr il at 1,191 units vs 2,202 units YoY.

Maruti Suzuki: Total vehicle production in April at 169,751 units vs 145,096 units YoY.

Dredging Corporation: India Ratings has revised the Outlook on Dredging Corporation of India Ltd to Positive from Negative while affirming the Long­Term Issuer Rating at IND BBB+.

KP Energy has successfully commissioned further 12.6MW (Phase-IX) ISTS connected Wind Power Project comprising 6 numbers of WTGs of 2.1MW each at Sidhpur site in Devbhoomi Dwarka.

Eicher Motors: Royal Enfield sales in April at 81,870 units vs 73,136 units YoY.