Market Commentary - Stock Alert
Titan Company, Tata Motors, ONGC, Power Grid in focus As on : 10-Apr-23  08:28

Titan Company: The Tata Group company announced that it witnessed healthy double-digit growth across its key businesses, reporting a revenue growth of 25% year on year (YoY). The rise in the revenue was mainly driven by higher growth contributions from watches & wearables and emerging businesses.

Tata Motors: The Tata Motors Group global wholesales in Q4 FY23, including Jaguar Land Rover (JLR), were at 3,61,361 units, higher by 8%, as compared to Q4 FY22.

Oil and Natural Gas Corporation (ONGC): ONGC announced that its board approved the acquisition of 23.04% stake in Mangalore SEZ (MSEZ) from IL&FS for cash consideration of Rs 40.32 crore.

Power Grid Corporation of India: The power transmission company on Thursday announced that it has successfully commissioned two projects in Northern region on 25 February 2023 and 24 March 2023.

Adani Power: The power utility company announced that the Unit 1 of 800 megawatt (MW) capacity of the 2x800 MW ultra-supercritical power project of Adani Power (Jharkhand) (APJL), situated in Godda district in Jharkhand, has commenced commercial operations.

Sobha: Sobha announced that total sales value improved by 26% to Rs 1,463.4 crore in Q4 FY23 from Rs 1,164.2 crore recorded in the corresponding quarter last fiscal.

Indian Bank: Indian Bank informed that the Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 55 lakh on the bank for non- compliance with the directions issued by the RBI (Know Your Customer (KYC)) Directions, 2016.

Thyrocare Technologies: The healthcare service provider announced that its board has declared an interim dividend of Rs 18 per share for the financial year 2022-23.

Alkem Laboratories: Alkem Laboratories said that the US FDA had conducted a good manufacturing practices (GMP) and pre-approval inspection at the company's API manufacturing facility located at Ankleshwar, Gujarat, from 03 April 2023 to 07 April 2023.

Century Textiles and Industries: The company said that its wholly owned subsidiary, Birla Estate, has entered into the Pune residential real estate market by acquiring 5.76 acres of land in Sangamwadi, a central business district in Pune.

Sona BLW Precision Forgings (Sona Comstar): Sona Comstar announced that the board has approved investment of Rs 52.9 crore for capacity expansion of new Pune plant to 20.1 million gears from 11.8 million gears by financial year 2025.

IIFL Finance: IIFL Finance said that it has received $100 million long term funding, jointly from Export Development Canada (EDC) and Deutsche Bank.

CreditAccess Grameen: The micro finance lender's disbursements improved to Rs 7,171 crore in Q4 FY23, registering a growth of 24% as against Rs 5,792 crore reported in Q4 FY22.

Shakti Pumps (India): The company announced that it has received a patent for inventing a switching circuit to start single phase-induction motor with a validity of 20 years.

Kalyani Steels: Kalyani Steels announced that it has commissioned coke making facility and partially commissioned waste heat recovery (WHR) based captive power plant, adjacent to its steel plant situated at Ginigera, Koppal district, Karnataka.

PNC Infratech: PNC Infratech announced that it has received letter of acceptance (LoA) from Haryana Rail lnfrastructure Development Corporation on 6 April 2023 for engineering, procurement and construction (EPC) contract worth Rs 771.46 crore.

Axita Cotton: The Gujarat-based cotton ginning company announced that it has received an order from Bangladesh for Indian Raw Cotton, aggregating to $3.2 million (approximately Rs 26.92 crore).

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