Finolex Cables
On April 21, Finolex Cables saw a two percent rise in its shares during morning trading as the company announced its plans to establish a new plant in Pune. The plant will produce optical fibre preforms and increase the company’s fibre draw capacity.
Finolex Cables revealed that the new plant, which will cost approximately Rs 290 crore, will have an initial capacity of 100 tons of preforms. The project will be funded entirely by internal accruals, according to a regulatory filing.
Vodafone-Idea
On April 21, shares of Vodafone Idea, the struggling Indian telecom company, experienced a 10 percent surge in early trading after Kumar Mangalam Birla made his return to the company’s board as an additional director. Birla had previously resigned from his position as chairman in 2021 amid the company’s financial crisis. This departure caused Vodafone Idea’s shares to plummet to a 52-week low of Rs 5.70.
Power Mech
Power Mech, a leading infrastructure and engineering company, has recently secured multiple orders worth Rs 720 Cr. These orders include the construction of the Government Medical College & Hospital for Uttara Khand Pey Jal Nigam Limited in Uttarakhand, the distribution works under ROSS (Revamped Distribution Sector Scheme) for MPPKWCL, Khargone Circle in Indore, Madhya Pradesh, and railway electrification of 25 KV OHE Works in Mysuru Division, Karnataka.
Dr. Reddy’s Laboratories
Dr. Reddy’s Laboratories Ltd., a leading pharmaceutical company, announced on Friday the launch of Treprostinil injection in the US market, along with its subsidiaries. The US Food and Drug Administration (USFDA) has approved the injection, which is a therapeutic equivalent generic version of Remodulin. This injection works by relaxing blood vessels and increasing the supply of blood to the lungs.
JSW Energy
JSW Energy Limited announced on Friday that its subsidiary, JSW Renew Energy Two Limited, has successfully commissioned 51 MW of wind power capacity in Tuticorin, Tamil Nadu. The company completed this as part of the phase-wise commissioning of the 450 MW ISTS-connected wind power project awarded under SECI tranche X in Tamil Nadu. JSW Energy has now commissioned a total of 78 MW of wind capacity under SECI X.
Hindustan Zinc
Hindustan Zinc releases Consolidated Quarterly Results for March 31, 2023. Hindustan Zinc has announced an increase in total income from Rs. 8,214 Crores as of December 31, 2022, to Rs. 8,863 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 2,156 Crores as of December 31, 2022, to Rs. 2,583 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 5.10 on December 31, 2022, to Rs. 6.11 on March 31, 2023, according to the company’s statement.
Wendt India
Wendt India releases Consolidated Quarterly Results for March 31, 2023. Wendt India has announced an increase in total income from Rs. 52.91 Crores as of December 31, 2022, to Rs. 60.66 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 10.07 Crores as of December 31, 2022, to Rs. 12.79 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 50.31 on December 31, 2022, to Rs. 63.96 on March 31, 2023, according to the company’s statement.
IIFL Finance
Fairfax-supported IIFL Finance announced on Friday that it has successfully repaid its inaugural USD 400 million bonds on its maturity this month. The retail-oriented non-bank had secured the funds as part of its medium-term note program back in February 2020.
Reliance Industries
Reliance Industries releases Consolidated Quarterly Results for March 31, 2023. Reliance Industries has announced an increase in total income from Rs. 2,23,739 Crores as of December 31, 2022, to Rs. 2,19,294 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 15,792 Crores as of December 31, 2022, to Rs. 19,299 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 23.34 on December 31, 2022, to Rs. 28.52 on March 31, 2023, according to the company’s statement.
Aditya Birla Money
Aditya Birla Money releases Consolidated Quarterly Results for March 31, 2023. Aditya Birla Money has announced an increase in total income from Rs. 70.8710 Crores as of December 31, 2022, to Rs. 70.1958 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. 8.7253 Crores as of December 31, 2022, to Rs. 7.3656 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. 1.55 on December 31, 2022, to Rs. 1.30 on March 31, 2023, according to the company’s statement.
Tejas Networks
Tejas Networks releases Consolidated Quarterly Results for March 31, 2023. Tejas Networks has announced an increase in total income from Rs. 295.55 Crores as of December 31, 2022, to Rs. 320.59 Crores as of March 31, 2023. The net profit for the company has decreased from Rs. -15.15 Crores as of December 31, 2022, to Rs. -11.47 Crores as of March 31, 2023. However, the earnings per share (EPS) have improved, increasing from Rs. -0.99 on December 31, 2022, to Rs. -0.70 on March 31, 2023, according to the company’s statement.
HDFC Bank
HDFC Bank Ltd, India’s largest private sector lender, has received regulatory relief from the Reserve Bank of India (RBI) ahead of its merger with HDFC, according to a regulatory filing on April 21. Analysts suggest that this will have a positive impact on the bank’s stock.
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