ITC:
ITC joins 5-trillion club, becomes 11th Indian firm to achieve milestone
ITC Ltd, a conglomerate with interests in cigarettes, FMCG, paper, and hotels, has become the 11th Indian listed company to achieve a market capitalisation of over Rs 5 trillion. The company’s shares have surged 21% this year, hitting a record high of Rs 402.60 on the Bombay Stock Exchange. ITC’s market cap now stands at Rs 5.01 trillion.
Zee:
Zee initiates creditor discussions to finalize a merger with Sony
Zee Entertainment Enterprises Ltd. has initiated negotiations with its creditors in order to settle its debts and clear the last hurdle to complete its merger with Sony Group, which is expected to create a $10 billion media powerhouse. Sources familiar with the matter say that the Indian TV network has offered to repay a loan of about Rs 1.49 billion ($18.1 million) in tranches to IDBI Bank Ltd., which is one of the creditors that had moved the insolvency court.
Mastek:
Mastek shares surge 13% post impressive Q4 results: Investment outlook?
Mastek Ltd’s shares experienced a surge of more than 13% in Thursday’s trade, following the company’s Q4 earnings that exceeded analysts’ estimates. The March quarter saw a consolidated revenue increase of 7% on a sequential basis, amounting to ₹709.2 crore. Organic growth, a robust order book, and margin expansion were the main drivers behind the Q4 figures.
HDFC Bank:
RBI approves HDFC Bank Deputy MD & Executive Director appointment for 3 years
India’s largest private sector bank, HDFC Bank, announced on Wednesday, April 20, that Kaizad Bharucha has been appointed as Deputy Managing Director and Bhavesh Zaveri as Executive Director for a period of three years with effect from April 19. The Reserve Bank of India approved the appointment, following the recommendation of HDFC Bank’s Board of Directors.
Fortis Healthcare:
Fortis Healthcare acquires Medeor Hospital Manesar for Rs 225 Cr
Fortis Healthcare has recently announced its acquisition of Medeor Hospital Manesar from Medeor Hospital Limited (MHL) and VPS Health Care Private Limited for a sum of Rs 225 crore. This transaction is expected to be finalized by July 31, 2023. Fortis Healthcare has signed a definitive agreement with Medeor Hospital Limited and VPS Health Care Private Limited for the acquisition of the multi-speciality hospital. Medeor Hospital Limited’s promoter is VPS Health Care Private Limited.
Oriental Hotels:
Oriental Hotels Q4 Results 2023: PAT of Rs 20.74 Cr Consolidated
Oriental Hotels releases Consolidated Quarterly Results for March 31, 2023. Oriental Hotels has announced an increase in total income from Rs. 107.09 Crores as of December 31, 2022, to Rs. 115.81 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 15.53 Crores as of December 31, 2022, to Rs. 20.74 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 0.87 on December 31, 2022, to Rs. 1.16 on March 31, 2023, according to the company’s statement.
Zydus Lifesciences:
Zydus gets USFDA nod for Metoprolol Tartrate Tablets USP in 25, 50 & 100 mg
Zydus Lifesciences Ltd has been granted final authorization by the United States Food and Drug Administration (USFDA) to produce and market Metoprolol Tartrate Tablets USP, in 25 mg, 50 mg, and 100 mg strengths.
HSBC India:
HSBC India enlists Virat Kohli as brand ambassador
HSBC India has enlisted the services of Virat Kohli, former captain of the Indian cricket team, as its brand ambassador, according to a statement released by the financial services company on April 19.
Cyient:
Cyient Q4 Results 2023: PAT of Rs 163.2 Cr Consolidated
Cyient releases Consolidated Quarterly Results for March 31, 2023. Cyient has announced an increase in total income from Rs. 1645.7 Crores as of December 31, 2022, to Rs. 1751.9 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 156 Crores as of December 31, 2022, to Rs. 163.2 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 14.17 on December 31, 2022, to Rs. 14.79 on March 31, 2023, according to the company’s statement.
HCL Technologies:
HCL Technologies Q4 Results 2023: PAT of Rs 3983 Cr Consolidated
HCL Technologies releases Consolidated Quarterly Results for March 31, 2023. HCL Technologies has announced an increase in total income from Rs. 26960 Crores as of December 31, 2022, to Rs. 27059 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 4096 Crores as of December 31, 2022, to Rs. 3983 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 00 on December 31, 2022, to Rs. 14.69 on March 31, 2023, according to the company’s statement.
Adani Power:
Adani Power signs long-term deal with MPSEZ Utilities for power supply
Adani Power Limited has announced a significant long-term Power Supply Agreement (PSA) with MPSEZ Utilities Limited (MUL), securing a 360 MW capacity supply for a duration of 15 years. The power will be generated from Adani’s 4,620 MW power plant in Mundra, Gujarat, and supplied to MUL, marking a significant milestone in the company’s growth strategy.
Finolex Cables:
Finolex Cables Rs 200 Cr Pune plant expansion plans revealed
Finolex Cables Ltd, India’s leading manufacturer of electrical and communication cables, has announced plans to set up a captive 5 MW solar power plant at its Urse manufacturing facility near Pune. The investment for the project is estimated to be around Rs 40 crore and the plant is expected to be commissioned within the next six months.
Ion Exchange:
Ion Exchange board approves 1:10 stock split; shares surge up
Ion Exchange (India) Ltd. saw a significant surge of 4% in its shares on Thursday following the announcement of the board’s approval of a 1:10 stock split. While the board has yet to determine the record date for equity shares sub-division, one equity share with a face value of Rs 10 each will now be sub-divided into ten equity shares with a face value of Re 1 each.
PVR:
PVR rebrands to PVR INOX in a strategic move
PVR Limited has announced a name change to PVR INOX Limited after receiving a fresh “Certificate of Incorporation” from the Registrar of Companies (ROC-Mumbai) on April 20, 2023. The change is effective immediately.
Reliance Infrastructure:
Reliance Infrastructure Q4 Results 2023: PAT of Rs 11.54 Cr Consolidated
Reliance Infrastructure releases Consolidated Quarterly Results for March 31, 2023. Reliance Infrastructure has announced an increase in total income from Rs. 20.6014 Crores as of December 31, 2022, to Rs. 20.8083 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 2.3567 Crores as of December 31, 2022, to Rs. 11.5429 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 1.56 on December 31, 2022, to Rs. 7.64on March 31, 2023, according to the company’s statement.
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