Market Commentary - Stock Alert
TCS, RIL, Titan Company, Tata Steel, MCX in focus As on : 09-Oct-23  08:42

Tata Consultancy Services (TCS): TCS said that its board of directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on 11 October 2023. The board shall also consider declaration of second interim dividend to the equity shareholders. The record date for the said dividend is 19 October 2023.

Reliance Industries (RIL): RIL announced that Abu Dhabi Investment Authority (ADIA) through a wholly owned subsidiary, will invest Rs 4,966.80 crore into the company's subsidiary, Reliance Retail Ventures (RRVL). The investment values RRVL at a pre-money equity value of Rs 8.381 lakh crore, which makes it among the top four companies by equity value in the country. The investment by ADIA will translate into an equity stake of 0.59% in RRVL on a fully-diluted basis.

Titan Company: Titan Company registered a revenue growth of 20% YoY in Q2 FY24, and added 81 stores during the period, taking the group's retail presence to 2,859 stores. The company's jewellery division showed 19% YoY revenue growth.

Tata Steel: The steel major's India business reported 3.96% increase in crude steel production to 4.99 million tons in Q2 FY24 as compared with 4.80 million tons posted in Q2 FY23. Tata Steel Europe's production dropped by 17.08% to 1.99 million tons in Q2 FY24 from 2.40 million tons posted in corresponding quarter last year.

Vedanta: A wholly owned subsidiary of the company, in the name of Vedanta Aluminium Metal has been incorporated on 6 October 2023 for the purpose of implementation of demerger scheme.

Multi Commodity Exchange of India (MCX): SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the Commodity Derivative Platform (CDP) and to intimate SEBI regarding the proposed date for Go Live.

Adani Green Energy: Adani Green Energy informed that its Wholly-owned stepdown subsidiary Adani Solar Energy Jaisalmer Two has completed the commissioning of entire 150 MW solar power project at Bikaner, Rajasthan.

Adani Energy Solutions (AESL): AESL said that it has acquired 100% equity shares of Sangod Transmission Service (STSL) from Rajasthan Rajya Vidyut Prasaran Nigam

Medplus Health Services: The company said that its board will meet on 11 October 2023, to consider raising of funds via equity shares or non-convertible debentures (NCDs).

Aster DM Healthcare: Aster DM Healthcare said that its wholly owned subsidiary Aster DM Healthcare (Trivandrum) has entered into lease agreement with an 'association of persons' for setting up of new hospital block and expand Aster Whitefield Hospital in Bengaluru.

Laxmi Organic: The company informed that it has issued commercial papers (CPs) of Rs 50 crore on 6 October 2023 in favor of Kotak Mahindra Bank.

Capri Global Capital: The company said that its Gold Loan AUM has crossed Rs 2,000 crore milestone within a period of 13 months after commencement of this business.

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