Market Commentary - Stock Alert
Bajaj Auto, LIC, Tata Power, Titagarh Rail Systems to be watched As on : 19-Feb-24  08:29

Bajaj Auto: The Buyback committee constituted by the board of directors has fixed 29 February 2024, as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback.

Life Insurance Corporation of India (LIC): LIC had received refund orders for Assessment Years 2012- 13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19 and 2019-20. The total amount of refund was Rs.25,464.46 crore. In this regard Income tax Department has released Rs. 21,740.77 Crore on 15 February 2024. LIC is pursuing for the balance with the Income Tax Department.

Tata Power Company: The company has received Letter of Intent (LOI) from REC Power Development and Consultancy Limited (a wholly-owned subsidiary of REC Limited) to acquire Jalpura Khurja Power Transmission Limited, a project special purpose vehicle (SPV).

One 97 Communications (OCL): OCL which runs Paytm, said that it has shifted its nodal account to Axis Bank by opening an Escrow Account, to continue seamless merchant settlements as before. OCL said that this arrangement is expected to seamlessly replace the nodal account that the firm was using with Paytm Payments Bank.

CRISIL: The rating agency?s consolidated net profit jumped 32.97% to Rs 210.12 crore on 11.61% increase in revenue from operations to Rs 917.74 crore in Q4 CY23 over Q4 CY22.

Kaynes Technology India: The company announced that it has incorporated a wholly owned subsidiary company (WOS) named ?Kaynes Mechatronics? (KMPL) on 16 February 2024. KMPL is proposing to undertake operations in electronics industry primarily in Karnataka, India.

Schaeffler India: Schaeffler India reported 5.89% decline in standalone net profit to Rs 217.38 crore in Q4 CY23 as against Rs 230.98 crore posted in Q4 CY22. Revenue from operations increased 3.37% year on year (YoY) to Rs 1,855.07 crore in the quarter ended 31 December 2023.

Titagarh Rail Systems: The Kolkata-based company announced that it has received an order worth Rs 170 crore from the Ministry of Defence, Government of India for procurement of 250 specialized wagons.

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