The Nifty futures contract traded on the Singapore Exchange indicates a muted start to domestic equities. The contract was trading at 17,794, up 7 points or 0.04% from the previous close.
Sagar Cements: Domestic fund house PGIM India Mutual Fund has sold its stake in Sagar Cement, while ICICI Pru Mutual Fund bought shares through a block deal on Tuesday.
TCS: Shares of IT major TCS will be in focus as the company will announce its fourth quarter earnings. Analysts expect revenue growth to moderate to 1% quarter-on-quarter in constant currency terms due to macroeconomic slowdown leading to delays in revenue conversion.
Varun Beverages: Shares of Varun Beverages, which have doubled investors’ wealth in the last one year period, will trade ex-dividend today.
HDFC Bank: Private lender HDFC Bank on Tuesday said that the bank’s board of directors proposes to raise Rs 50,000 crore through bonds in the next twelve months on a private placement basis. The private lender’s board of directors are to meet on 15 April 2023, said HDFC Bank in its regulatory filing. HDFC Bank proposes to raise the money by issuing perpetual debt instruments, which is a part of Additional Tier I capital, Tier II Capital Bonds and Long-Term Bonds.
ONGC: State-run Oil and Natural Gas Corporation Limited (ONGC) has commissioned a new gas collecting station (GCS) in its Bokaro coal bed methane block. It is the first gas collecting cum gas compression station in the Bokaro CBM (Coal Bed Methane) Block. GCS-Bokaro is a major production installation in ‘Patch-A’ of Bokaro CBM Block of ONGC-IOCL Joint Venture with ONGC as the JV operator.
LIC: Insurance behemoth Life Insurance Corporation of India (LIC) on Tuesday said that it has appointed PC Paikray as Chief Risk Officer and Ratnakar Patnaik as Chief Investment Officer. The company said that Ratnakar Patnaik, who has been appointed as Chief Investment Officer, will replace P R Mishra, who has been transferred and posted to another assignment. His appointment as CIO came into effect from April 10, 2023, said LIC in its regulatory filing.
Adani Enterprises: Adani Enterprises Ltd (AEL) on Tuesday said it has incorporated a wholly-owned subsidiary for carrying out coal washery-related business. “The company has incorporated a WOS (Wholly-Owned Subsidiary) Pelma Collieries Ltd (PCL) on April 7, with an initial authorised share capital of Rs 10,00,000 and paid-up share capital of Rs 5,00,000,” it said in a regulatory filing. The entity will carry on the business of developing, erecting, and operating coal washery, the filing said.
Delhivery: Internet Fund III Pte Ltd, the venture capital fund managed by US-based investment management company Tiger Global Management, offloaded shares of Delhivery in the market. The venture capital fund, Internet Fund III Pte Ltd offloaded 11,753,735 shares at an average price of Rs 330 via open market transactions on Tuesday, as per bulk deal data available on BSE. Internet Fund III Pte Ltd had held 3.41 crore shares or 4.68% stake in Delhivery as of December 2022.
Sula Vineyards: The largest wine producer in the country, Sula Vineyards on Tuesday announced March 2023 quarterly sales figures. In Q4, Sula recorded the highest-ever annual revenues in both its own brands and wine tourism business. As per the regulatory filing, Sula registered an upside of 15% in own brands sales to Rs 104.3 crore during the March quarter as compared to Rs 90.7 crore in the corresponding quarter last fiscal. Sula Vineyards’ own brand’s sales volumes crossed 1 million cases, with Elite & Premium wines surging past the 5 lakh case mark for the first time.
Kalpataru Power Transmission: Kalpataru Power Transmission Ltd (KPTL) and its arms have bagged orders worth Rs 3,079 crore in March and April so far this year. The orders include civil works for a data centre and buildings of Rs 1,234 crore, an EPC (engineering procurement construction) order of Rs 754 crore in railway business and water supply projects of Rs 708 crore in India. It also bagged residential and institutional building projects of Rs 233 crore in Africa and orders of Rs 150 crore in the T&D (transmission and distribution) business in overseas markets.
Delta Corp: Delta Corp, a casino gaming company, has registered a 6.4% year-on-year growth in profit in Q4 of FY23 at Rs 51.17 crore. The results were impacted by weak operating performance. Consolidated revenue grew by 4% YoY to Rs 227.16 crore. On the operating front, EBITDA (earnings before interest, tax, depreciation and amortisation) fell by 12.8% YoY to Rs 60.18 crore. The overall margin declined by 510 bps to 26.5% for the quarter.
Abans Holdings: Abans Investment Managers Pvt Ltd, a subsidiary of Abans Holdings Ltd on Tuesday said that it has acquired the portfolio management services (PMS) business of SATCO Capital Markets Limited. SATCO Capital Markets Ltd through its PMS license manages ₹80 crore AUM in SATCO Growth & Momentum Portfolio since January 2012 which will be taken over by Abans Broking Services Pvt Ltd. It holds a PMS license from SEBI. SATCO Growth & Momentum Portfolio has delivered 21.6% CAGR since its inception in January 2012. The deal is subject to regulatory compliance/approval.
NLC India: Shareholders of NLC India Ltd have approved the appointment of Prasanna Kumar Motupalli as Chairman and Managing Director (CMD) of the company. The members of NLC India have passed the ordinary resolution approving his appointment to the top post, the company said in a regulatory filing on Tuesday. NLC India, under the Ministry of Coal, is into the production of lignite.
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