Thursday, November 30, 2023
Google search engine
HomeBusinessTCS, Paytm, IDBI Bank, Lupin, Dr Lal PathLabs, and Others

TCS, Paytm, IDBI Bank, Lupin, Dr Lal PathLabs, and Others

[ad_1]

The January futures contract of Nifty 50 on the Singapore Exchange indicates a positive start to domestic equities on Monday. The contract was trading at 18,113.50 up 154.5 points or o.86% from the previous close.

TCS: Stock of the IT major will be in limelight today as the company announces its Q3 results. The IT major is expected to report 18 per cent YoY growth in Q3 earnings.

Shares of other IT companies too are likely to react.

IDBI Bank: The Department of Investment and Public Asset Management (DIPAM) has received at least five expressions of interest (EoIs) for the proposed 61 per cent stake and transfer of management control in IDBI Bank. The sale is expected to end by the middle of next financial year.

Lupin: The company has received approval from the US Food and Drug Administration to market fesoterodine fumarate extended-release tablets in 4-mg and 8-mg strength. The drug is a generic version of Pfizer Inc’s Toviaz extended-release tablets, used to treat overactive bladder.

Electronics Mart India: The lock-in period for shares allotted to anchor investors will partially end this week. The lock-in ends for only half of these shares; the other half will remain under freeze for 60 days.

Heritage Foods: The company has scheduled its board meet on January 13 to consider and approve the final offer letter for the proposed rights issue, including the record date. Earlier the board had approved issue of up to 46.40 lakh shares on rights basis at Rs 5 each.

NBFCs Q3 Results preview: According to analysts, the non-BFSI companies’ top line growth is expected to be the lowest since the Q4FY21 quarter.

Dr Lal PathLabs: The private diagnostic player is eyeing a leadership position in the western India market within the next five years, on the back of Suburban Diagnostics, its wholly-owned subsidiary. Om Manchanda, MD, of the company said that the contribution of the west zone rose from to 8 percent in first half of FY23.

Paytm: Paytm Payments Bank on Sunday appointed Surinder Chawla as its new managing director (MD) and CEO for a period of three years. The appointment has received the RBI’s nod. Chawla is a veteran banker with over 28 years of experience across institutions such as HDFC Bank, RBL Bank, ABN Amro Bank, and Standard Chartered.

Hi-Tech Pipes: The company has signed a MoU with government of Uttar Pradesh to set-up a mega manufacturing facility of steel tubes & pipes and flat steel processing.

Pharma: Data shows that in calendar year 2022, price driven growth rate has been 6 per cent; growth from new products has been 1.7 percent, while volume growth has been zero.

Jindal Steel and Power Limited (JSPL): The steel firm will invest up to Rs 1,500 crore to make recently-acquired Monnet Power operational, its Managing Director Bimlendra Jha said. The investment will be made over the period of the next 12 to 18 months.

PTC India: Gautam Adani is said to be among possible bidders reviewing preliminary information on PTC, according to sources. State-owned NTPC, NHPC, Power Grid Corporation and Power Finance Corporation are weighing sale of up to 4 per cent stake each in PTC.

Gland Pharma: Gland Pharma International PTE, a Singapore-based wholly owned subsidiary has entered into a share purchase agreement with FPCI Sino French Midcap Fund to fully acquire stake in Cenexi pursuant to the terms of the put option agreement inked in November 2022.

Macrotech Developers: Lodha Group posted 16 per cent YoY growth in Q3FY23, basis with pre-sales worth Rs 3,035 crore. The real-estate firm’s nine-month pre-sales worth Rs 9,039 crore in FY23 has already exceeded the pre-sales achieved in entire FY22.

Oil Marketing Companies (OMCs): According to a report, OMCs are selling petrol at a profit of Rs 10 per litre but retail prices haven’t been reduced as they recoup past losses and make up for a Rs 6.5 a litre loss on diesel. Brokerage firm ICICI Securities said estimated earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 2,400 crore for IOC in the October-December quarter, Rs 1,800 crore for BPCL and Rs 800 crore for HPCL.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Read all the Latest Business News here

[ad_2]

Source link

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments