Market Commentary - Stock Alert
JSW Steel, Vedant Fashions, Thermax in spotlight As on : 18-May-23  08:08

JSW Steel: JSW Steel has been declared as a preferred bidder for composite licence of an unexplored iron ore mine in Maharashtra. The company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances to execute the Lease Deed with Mine Development and Production Agreement (MDPA) and start the mining operations.

Vedant Fashions: Ravi Modi Family Trust, a promoter of Vedant Fashions proposes to sell 9.88% stake through an offer for sale (OFS) at floor price of Rs 1,161 per share. The offer will be executed during the trading hours on May 18-19, and will be opened for non-retail investors on the first day and retail investors on the second day.

Thermax: The company's consolidated net profit rose to Rs 156.21 crore as against net profit of Rs 102.54 crore posted in Q4 FY22. Total income rose to Rs 2368.31 crore in Q4 FY23 from Rs 2027.62 crore recorded in the same period a year ago.

Sheela Foam: The company's consolidated net profit rose to Rs 45.80 crore as against net profit of Rs 49.30 crore posted in Q4 FY22. Total income rose to Rs 746.44 crore in Q4 FY23 from Rs 752.52 crore recorded in the same period a year ago.

Mankind Pharma: The company intimated that Income Tax Department (IT Dept) conducted search under the Income Tax Act, 1961 at some of the offices and plants of the company and its subsidiaries. The business operations of the company continue as usual and have not been impacted due to the search.

Lemon Tree Hotels: The company has signed a License Agreement for 82 room property in Gomti Nagar, Lucknow, Uttar Pradesh under the company's brand 'Lemon Tree Premier'. The property is expected to be operational by August, 2026.

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