The January futures contract of the Nifty 50 on the Singapore Exchange is pointing to a positive start for domestic equities on Tuesday. The contract was trading at 18,000, up 50 points or 0.28 per cent from the previous close.
Earnings Today: Infosys, HCL Technologies, Anand Rathi, Cyient, Den Networks and GM Breweries among others to announce Q3 results today.
Hindustan Unilever: The company on Wednesday said it has completed the acquisition of a 51 per cent stake in Zywie Ventures for a consideration of Rs 264.28 crore. On December 8 last year, HUL announced it will acquire a 51 per cent stake in Zywie Ventures, marking its entry into the health and wellbeing segment.
Sah Polymers: The stock is likely to debut on a positive note following the better-than-expected response to its IPO, according to the market buzz. Overall the IPO was subscribed 17.5 times, and the company issued shares at Rs 65 apiece.
Container Corporation of India (Concor): The government to invite Expression of Interest (EoI) for privatising Concor this month, according to a company official. The Cabinet, in November 2019, had approved strategic sale of a 30.8 per cent stake, along with management control of Concor.
Adani Group: The Gautam-Adani led Group plans to invest over Rs 60,000 crore in a number of sectors in Madhya Pradesh, Pranav Adani, director at Adani Enterprises said at the seventh Madhya Pradesh Global Investors Summit. The sectors and projects that the Group plans to invest include four-laning of NH-47, gas link project and micro-irrigation system.
IIFL Wealth Management: The company to consider stock split and issue of bonus shares in its board meeting on January 19, 2023. The company had recently changed its name to 360 One.
Piramal Enterprises: The company aims to increase its assets under management (AUM) to around Rs 1 lakh crore within four years, with the consumer business seen rising to Rs 70,000 crore from around Rs 25,000 crore at present, Piramal Capital and Housing Finance MD Jairam Sridharan said.
Healthcare: According to rating agency ICRA, the hospital industry is expected to post occupancy levels of 62-64 per cent in FY23 and FY24 backed by demand for elective surgeries, medical tourism and organised players improving their market share. The average revenue per occupied bed (ARPOB) is likely to grow 8-10 per cent, the agency said.
RailTel Corporation of India: The company has won an order worth Rs 170.11 crore from the government of Puducherry for design, development, SITC, O&M for 5 years of Integrated Command Control Centre and other associated activities for Puducherry Smart City Area. The contract needs to be executed within 10 months.
L&T Finance Holdings (LTFH): The non-banking finance subsidiary of Larsen & Toubro plans to focus on increasing its retail loan book after it sold its mutual funds business to HSBC last year. LTFH plans to increase its retail loan portfolio to 75 per cent of its total loan book by year-end and significantly reduce exposure to the wholesale book.
Greaves Cotton: Bookings for Greaves Mobility’s new high-speed electric scooter Primus started on Wednesday, priced at over Rs 1 lakh. The company is an electric vehicle arm of Greaves Cotton.
TVS Motor Company: The company announced its intention to invest up to Rs 1,000 crore in Madhya Pradesh towards future expansion in Electric and Internal Combustion Engine (ICE) vehicles.
Cummins India: The company to soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Maharashtra. It will start limited production by the end of 2023 and mass production will likely begin by 2024, company officials said.
Adani Power: Uttar Pradesh’s All power engineers federation (AIPEF) on Wednesday said it will oppose any government’s move to issue electricity distribution license to private companies in Noida and Greater Noida in the state. Recently, Adani Power had applied to the Electricity Regulatory Commission of Uttar Pradesh for obtaining a parallel license for the distribution of electricity in Noida and Greater Noida.
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