The Nifty 50 January futures contract on the Singapore Exchange point to a negative opening for domestic equities on Tuesday. The contract was trading at 18,196.50 down 26.5 points, down 0.15 % from the previous close.
Dabur India: The proposed acquisition of a 51% stake in Badshah Masala was completed on Monday. Badshah Masala has become a subsidiary of the company.
Zomato: Gunjan Patidar, its co-founder and chief technology officer has quit. Patidar was part of the original founders team at Zomato. His exit is the latest in a string of high-profile resignations in recent times.
Reliance Industries, ONGC: The Central government raised windfall tax on petroleum, crude oil and aviation turbine fuel late on Monday. It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective on Tuesday.
Meanwhile, ONGC ‘Sagar Samrat’ has started Oil and Gas production in Arabian Sea.
State Bank of India: The lender’s board will meet to consider and approve raising of infrastructure bonds.
IRCTC: The Indian Railways registered a 71 per cent jump in revenue from the passenger segment between April and December, a statement by the Ministry of Railways said on Monday. The revenue during the period stood at Rs 48,913 crore vs Rs 28,569 crore last year.
Zee Entertainment: An operational creditor has filed a Rs 211-crore insolvency case against Zee Entertainment Enterprises (Zee), the media company disclosed to the stock exchanges on Monday. The company said it would be filing its reply rejecting the claim on the ground that there was a pre-existing dispute between the parties on the claimed amount.
Maruti Suzuki: India’s biggest domestic car manufacturer recorded a 16.5 per cent YoY decline in production volume for passenger vehicles in December 2022. Total production, including light commercial vehicles, fell by 18 per cent. The company said shortage of electronic components had some impact on the production of vehicles during the month even as it took all possible measures to minimise the impact.
M&M Financial Services: The non-bank finance company disbursed loans worth approximately Rs 4,650 crore in December 2022, delivering a 67 per cent year-on-year (YoY) growth. The Q3 disbursements at approximately Rs 14,450 crore registered a growth of 80 per cent YoY, while YTD disbursement (Rs 35,750 crore) registered a YoY growth of 95 per cent. The Collection Efficiency (CE) was at 98 per cent for December 2022.
Birlasoft: Chandrasekar Thyagarajan – Chief Financial Officer of the Company, has tendered his resignation due to personal reasons, and he will be relieved from his duties on February 2, 2023.
L&T: CEO & MD of Larsen & Toubro, S N Subrahmanyan, has warned that the world would have to brace for a challenging year in 2023 due to the latest spurt in Covid-19 cases in several countries. While he lauded the government’s proactive approach towards infrastructure, soaring prices of oil, gas, and other commodities, he said, remained a concern as supply chains were disrupted due to the Russia-Ukraine war.
PTC India: Power trading solutions provider PTC India on Monday said its shareholders have approved a final dividend of Rs 5.80 per equity share for 2021-22. This final dividend is in addition to the interim dividend of Rs 2 per equity share, a company statement said.
Karnataka Bank: The lender’s aggregate deposits rose about 8 per cent YoY to Rs 84,592.6 crore at the end of December 2022 vs Rs 78,424.86 crore in December 2021. Its CASA climbed 9.9 per cent YoY, while gross advances were up 12.3 per cent YoY to Rs 63,658.59 crore.
Safari Industries: Safari Manufacturing Limited, the wholly owned subsidiary of the Company, successfully commenced its additional commercial production/manufacturing of luggage on Monday at its factory situated at Halol, Gujarat.
Consumer durables: Prices of refrigerators are likely to increase by up to 5 per cent as the revised norms of the Bureau of Energy Efficiency (BEE) have become applicable from January 1 this year.
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