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Adani Defence Systems and Technologies, a wholly owned subsidiary of Adani Enterprises, will acquire a 50% stake in General Aeronautics.
The Adani firm will work with General Aeronautics for providing end to end solutions for the domestic agricultural sector.
General Aeronautics is a Bengaluru-based end-to-end agri platform providing drone-based solutions for crop protection services, crop health, precision farming and yield monitoring.
Source: Exchange filing
The midcap index outperformed its broader peers, rising 1.7% while the smallcap gauge almost mirrored Sensex and Nifty. Fifteen of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Information Technology gaining 2.4%.
The market breadth was skewed in the favour of bulls. About 2,216 stocks advanced, 1,109 declined and 123 remained unchanged.
ONGC has allocated capital expenditure of Rs 31,000 crore in the next three fiscals (FY 2022-25) for exploration.
Siemens India has approved the sale and transfer of company's Large Drives Applications Business to Siemens Large Drives India Pvt Ltd, on slump sale basis, with effect from July 1, for Rs 440 crore.
Siemens Large Drives India is a subsidiary of Siemens Large Drives GmbH, which is in turn a subsidiary of Siemens AG.
The cash consideration has been arrived at on the basis of independent valuation conducted by Grant Thornton Bharat LLP.
Source: BSE
Zydus Lifesciences has received Establishment Inspection Report from U.S. FDA for its Jarod injectables manufacturing facility near Vadodara.
U.S. FDA has determined that the inspection classification of the facility is under 'Voluntary Action Indicated (VAI)' and concluded that the inspected is considered as 'closed'.
Source: Exchange Filing
The S&P BSE MidCap outperformed its larger peers, rising 1.3% while the S&P BSE Smallcap almost mirrored Sensex and Nifty. Fifteen of the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Information Technology gaining over 2%.
The market breadth was skewed in the favour of bulls. About 2,138 stocks rose, 1,064 fell and 130 remained unchanged.
Reserve Bank Made Large Transfer To Contingency Funds In FY22: RBI Annual Report
Sharp movements in global commodity prices impacting food inflation.
A scenario in which crude prices persist above $100 per barrel poses a major upside inflation risk.
Upside inflation risks may emerge from second-round effects across manufacturing and services prices.
Supply side policy such as interventions could provide some offset.
Faster resolution of geopolitical conflict and no further Covid waves could reverse inflation.
Source: Annual Report for the Year 2021-22, RBI
Capacity utilisation in several industries is moving closer to normal levels, although rising input costs and persisting supply bottlenecks, may impede or delay a fuller recovery.
Contact-intensive sectors are expected to rebound over the year ahead, with positive implications for the workforce and for consumption demand.
Source: Annual Report for the Year 2021-22, RBI
The prospects for agriculture and allied activities are brightening at this juncture on the prediction of a normal monsoon
Terms of trade gains anticipated from exports.
Raising farm productivity remains a key concern, however.
Source: Annual Report for the Year 2021-22, RBI
RBI balance sheet expanded 8.46% year-on-year.
Income up 20.14% to Rs 1.6 lakh crore.
Expenditure up 280% to Rs 1.3 lakh crore.
Of expenditure, transfer to contingency fund at Rs 1.15 lakh crore.
Net income at Rs 30,311 crore.
Surplus transferred to government at Rs 30,307 crore.
Source: RBI Annual Report
Paradeep Phosphates Surges 12% After Listing At Premium To IPO Price
Paradeep Phosphates’ pre-market discovery price at Rs 43.5 per share, compared to its IPO price of Rs 42.
The company’s IPO subscribed 1.75 times.
Source: BSE
Sun Pharmaceutical Industries announced that its Romanian subsidiary has acquired Uractiv portfolio from Fiterman Pharma in Romania.
The portfolio comprises food supplements including minerals, vitamins, cosmetics, medical devices used to maintain urinary tract health.
Uractiv portfolio has annualised revenue of approximately $8.7 million.
The acquisition is subject to regulatory approvals. The financial terms of the transaction are confidential.
Source: Exchange filing
Hindalco Q4 Results: Aluminium Business Helps Profit Beat Estimates
The S&P BE Sensex rose 0.7% to 54,639.25. The NSE Nifty 50 advanced by similar magnitude to 16,291.35. About 40 of the Nifty stocks rose, 10 fell.
The broader indices outperformed their larger peers, with both the S&P BSE MidCap and SmallCap rising 1%. Barring S&P BSE Energy and Oil and Gas, all the other 17 sectoral indices compiled by BSE Ltd. advanced, with S&P BSE Information Technology gaining over 2.2%.
The market breadth was skewed in the favour of bulls. About 1,829 stocks advanced, 457 declined and 79 remained unchanged.
Logistics services firm Delhivery has been awarded a U.S. patent on Tuesday. The patent covers Delhivery's innovation in address verification and location mapping - Addfix.
Addfix takes incomplete or error-ridden addresses provided by customers and breaks them down into geographical elements like country, stake, city etc. to give an accurate location for an address.
The system is built using the data collected from over 1 billion successful deliveries since inception of the company.
Source: BSE
Shares of Paper-linked firms are in focus after the government amended the import policy of major paper products from 'Free' to 'Free subject to compulsory registration under Paper Import Monitoring System.
The order is applicable on a range of paper products including newsprint, handmade paper, wallpaper base, duplicating paper, coate paper, uncoated paper, litho and offset paper, tissue paper, parchment paper, carbon paper, wall paper, envelops, toilet paper, cartons, account books, labels etc.
All imports arriving on or after October 1, 2002 will be governed by this policy.
The move is aimed at addressing dumping concerns of domestic paper industry.
Source: PIB
Paradeep Phosphates: Shares to list today. The IPO was subscribed 1.75 times.
GAIL India
Godrej Industries
JSW Steel
Jindal Steel & Power
PB Fintech
United Spirits
TCI Express
Unichem Laboratories
VRL Logistics
Sadbhav Infrastructure Projects
India Cements
Ircon International
Lemon Tree Hotels
GR Infraprojects
Glenmark Pharma
Fine Organics
Akzo Nobel India
Arvind Fashions
Astral
Crompton Greaves Consumer Electricals
BEML
Engineers India
BPCL: The government called off EoI process for divestment of its 52.98% stake. Owing to prevailing conditions in the global energy market, the majority of QIPs have expressed their inability to continue in the current process of disinvestment of BPCL, the government said.
Tata Motors: The company incorporated a wholly owned subsidiary, TML Smart City Mobility Solutions for undertaking urban mass mobility business. It intends to bring specific focus to its Electric Vehicles segment as a service offering across its portfolio of commercial vehicles.
ONGC: The company has allocated capital expenditure of Rs 31,000 crore in the next three fiscals (FY 2022-25) for exploration.
Union Bank of India: The bank approved raising Rs 3,800 crore through Public Issue/Rights issue/private placement including QIP and Rs 4,300 crore via green/foreign currency denominated AT1 /Tier 2 bonds.
Tata Power: The company’s subsidiary Tata Power Renewable Energy has commissioned 100 MW/138MWp project for Maharashtra State Electricity Distribution Company in Maharashtra. The installation is comprised of over 4,11,900 numbers of monocrystalline PV modules and is expected to reduce around 234 million tons of CO2 annually.
Torrent Pharma & Dr Reddy’s: Torrent Pharmaceuticals entered into an agreement with Dr. Reddy's Laboratories to acquire four of its brands -- Styptovit-E, Finast, Finast-T and Dynapress.
Hindalco Industries Q4 FY22 (Consolidated, QoQ)
Revenue up 10.9% at Rs 55,764 crore Vs Rs 50,272 crore (Bloomberg estimate: Rs 53,387.4 crore)
EBITDA down 0.4% to Rs 7,597 crore from Rs 7,624 crore (Bloomberg estimate: Rs 5,898.5 crore)
EBITDA margins at 13.6% Vs 15.2% (Bloomberg estimate: 11%)
Net profit up 4.8% to Rs 3,851 crore Vs Rs 3,675 crore (Bloomberg estimate: Rs 2,959.2 crore)
Zee Entertainment Q4 FY22 (Consolidated, QoQ)
Revenue up 10% at Rs 2322.90 crore Vs Rs 2112.64 crore
EBIT up 6% at Rs 439.15 crore Vs Rs 414.56 crore
EBIT margin 18.91% Vs 19.62%
Net profit fell 39% at Rs 181.93 crore Vs Rs 298.73 crore
Recommended dividend of Rs 1 per share of face value of Rs 3 each
Berger Paints Q4 FY22 (Consolidated, YoY)
Revenue up 8% at Rs 2,187.51 crore Vs Rs 2,026.09 crore
EBITDA up 3.2% at Rs 346.44 crore Vs Rs 335.57 crore
EBITDA margin 15.84% Vs 16.56%
Net profit up 5.6% at Rs 220.29 crore Vs Rs 208.60 crore
Recommended dividend of Rs 3.1 per share of face value of Rs 1 each
Piramal Enterprises Q4 FY22 (Consolidated, YoY)
Revenue up 16% at Rs 573.64 crore Vs Rs 493.59 crore
EBITDA fell 21% at Rs 232.35 crore Vs Rs 294.50 crore
EBITDA margin 40.5% Vs 59.6%
Net profit up 302% at Rs 316.23 crore Vs Rs 78.71 crore
Recommended final dividend of Rs 33 per share of face value of Rs 2 each
Motherson Sumi Systems Q4 FY22 (Consolidated, YoY)
Revenue up 28.5% at Rs 1,630.6 crore Vs Rs 1,269 crore
EBITDA up 24% at Rs 215.66 crore Vs Rs 174.29 crore
EBITDA margin 13.23% Vs 13.73%
Net profit up 62% at Rs 397.27 crore Vs Rs 244.88 crore
Recommended dividend of Rs 0.65 per share of face value of Rs 1 each
Muthoot Finance Q4 FY22 (Consolidated, QoQ)
Revenue fell 4.27% at Rs 3,021.13 crore Vs Rs 3,155.78 crore
EBIT fell 3.31% at Rs 2,364.29 crore Vs Rs 2,445.3 crore
EBIT margin 78.26% Vs 77.5%
Net profit fell 3.6% at Rs 1,006.22 crore Vs Rs 1,043.63 crore
Cummins Q4 FY22 (Consolidated, YoY)
Revenue up 20% at Rs 1,502.12 crore Vs Rs 1,256.25 crore
EBITDA up 23% at Rs 208.16 crore Vs Rs 169.75 crore
EBITDA margin 13.86% Vs 13.51%
Net profit up 28% at Rs 216.27 crore Vs Rs 168.56 crore
Recommended final dividend of Rs 10.5 per share of face value of Rs 2 each
NMDC Q4 FY22 (Consolidated, YoY)
Revenue fell 2% at Rs 6,702.24 crore Vs Rs 6,847.57 crore
EBITDA fell 37% at Rs 2,682.57 crore Vs Rs 4,240.27 crore
EBITDA margin 40% Vs 62%
Net profit fell 36% at Rs 1,812.98 crore Vs Rs 2,835.54 crore
Bharat Dynamics Q4 FY22 (Consolidated, YoY)
Revenue up 21.5% at Rs 1,381.07 crore Vs Rs 1,136.86 crore
EBITDA up 17.4% at Rs 404.08 crore Vs Rs 344.3 crore
EBITDA margin 29.3% Vs 30.3
Net profit up 1.5% at Rs 264.36 crore Vs 260.36 crore
Recommended dividend of Rs 1 per share of face value of Rs 10 each
AstraZeneca Q4 FY22 (Consolidated, YoY)
Revenue up 10% at Rs 231.96 crore Vs Rs 210.25 crore
EBITDA fell 7% at Rs 37.75 crore Vs Rs 40.4 crore
EBITDA margin 16.3% Vs 19.2
Net profit up 3% at Rs 27.98 crore Vs Rs 27.27 crore
Recommended final dividend of Rs 8 per share
Bharat Rasayan Q4 FY22 (Consolidated, YoY)
Revenue up 65% at Rs 444.78 crore Vs Rs 269.81 crore
EBITDA up 32% at Rs 86.62 crore Vs Rs 65.62 crore
EBITDA margin 19.5% Vs 24%
Net profit up 38% at Rs 64.55 crore Vs Rs 46.8 crore
Recommended final dividend of Rs 1.5 per share of face value of Rs 10 each
India Glycols Q4 FY22 (Consolidated, YoY)
Revenue fell 7% at Rs 1,494.17 crore Vs Rs 1,604.14 crore
EBITDA fell 8% at Rs 79.62 crore Vs Rs 86.73 crore
EBITDA margin 5.3% Vs 5.4%
Net profit fell 5.5% at Rs 67.08 crore Vs Rs 71 crore
Recommended dividend of Rs 7.5 per share of face value of Rs 10 each
Stocks in Asia advanced on Friday after a recovery on Wall Street.
Japanese, Korean and Australian stocks gained. US futures were steady after S&P 500 rose from its lowest level in more than a year. The Nasdaq 100 added over 2%.
The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, rose nearly 0.50% to 16,257 points as of 6:50 a.m.
Elsewhere, West Texas Intermediate was at $113.85 a barrel. Bitcoin hovered around $29,000.
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