Adani Group, Vedanta, JSW Energy, TII, Jindal Stainless, L&T, Britannia Industries stocks in focus
时间:2024-06-26 08:10:59 阅读(143)
SGX Nifty hinted that the domestic equity indices could see a flat start. On the Singapore Exchange, Nifty futures were trading higher, up 4 points, at the 16,994.5 level. On Monday, markets gained mildly as Nifty ended marginally lower, still not reclaiming the 17,000 level, while Sensex settled at 57,613, down 40 points.
“Indian markets continued to stay in the grip of bears as investors remained cautious in expectation of further tightening from the RBI. While global market sentiment has been improving as the fears of broader contagion from the banking turmoil fade. Back home, Nifty small and midcap stocks continued to underperform due to fall in investors’ risk appetite and FY23 tax harvesting,” said Vinod Nair, Head of Research, Geojit Financial Services.
Anil Agarwal-controlled Vedanta has approved its fifth interim dividend of Rs 20.50 per share or a total of Rs 7,621 crore for FY23 as parent Vedanta Resources seeks to shore up funds to trim debt.
Jindal StainlessJindal Stainless (JSL), India’s largest stainless steel manufacturer, has acquired a 49% stake in Indonesia-based nickel pig iron (NPI) company New Yaking Pte for about $157 million. The move is strategic for JSL as it aims to secure long-term access to nickel, a crucial raw material for the stainless steel industry.
Tube Investment of IndiaVarious private equity funds invested Rs 266.67 crore in TICMPL, while State Bank of lndia has invested Rs 133.33 crore in Tl Clean Mobility, a subsidiary of Tube lnvestments of lndia.
JSW EnergyJSW Renewable Technologies, a subsidiary of JSW Energy, has been allocated Performance Linked Incentive for the quoted manufacturing capacity of 1 GW (Wafer + Cell + Module) under ‘National Programme on High Efficiency Solar PV Modules’ to promote manufacturing of high efficiency solar PV modules in India. JSWRTL is eligible for Rs 320 crores of PLI benefits.
L&TThe company issued and allotted 2,00,000 Non-Convertible Debentures (NCDs) of Rs 1 lakh each with a coupon rate of 7.725%, aggregating to Rs 2,000 crore, which will mature on April 28, 2028.
DCB BankThe lender was successful in its issue and allotment of 9.35% Basel III Compliant Tier II Bonds of face value of Rs 1,00,00,000 each, on a private placement basis, aggregating to Rs 300 crore.
Britannia IndustriesIf declared, the company will pay an interim dividend to the shareholders, on Thursday, 13th April, 2023.
上一篇:tioned itself as a premium retailer of brands.
The move had also prompted the country’s largest organised retailer Reliance Retail to step into the value retail segment with Yousta, which was announced on Thursday. Like Intune, Yousta began its operations in Hyderabad, with plans to expand across the country. Intune has three stores – two in Hyderabad and one in Dombivli, near Mumbai, with plans to add another three more outlets in the coming months.
Nair had admitted on a recent earnings call that the apparel segment in general was witnessing moderation and that the value retail foray by Shoppers Stop could help the company tap into the growing trend for affordable fashion and lifestyle products, aiding sales growth.
That was an important statement for Shoppers Stop, which reported a nearly 37% year-on-year drop in net profit to Rs 14.5 crore in the June quarter of FY24, even as revenue grew only 4.8% versus the previous year to nearly Rs 994 crore.
On a yearly basis, the company had last reported a net profit of nearly Rs 114 crore in FY23 after three consecutive years of loss between FY20 and FY22 due to the Covid-19 pandemic. FY23 topline also jumped nearly 60% year-on-year to Rs 4,022 crore, the highest in six years, its results showed.
下一篇:Zomato Rating- Hold - Profitability at the cost of growth
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