Market Commentary - Stock Alert
HDFC AMC, Tata Consumer, Berger Paints, NMDC in focus As on : 03-Feb-23  09:02

HDFC Asset Management Company (HDFC AMC): The company said that it has received approval from SEBI for change in control of the company due to proposed stake sale by abrdn Investment Management Limited, the co-sponsor of HDFC Mutual Fund. abrdn can reduce their stake in the company to less than 10% and cease to be co-sponsor of HDFC Mutual Fund.

Tata Consumer Products: Tata Consumer Products reported 26% rise in consolidated net profit to Rs 364 crore on an 8% increase in revenue from operations to Rs 3,475 crore in Q3 FY23 over Q3 FY22.

Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Ambuja Cements: The National Stock Exchange (NSE) has put these stocks under additional surveillance measure (ASM) framework effective 3 February 2023.

Berger Paints India: Berger Paints India posted a consolidated net profit of Rs 201.17 crore in Q3 FY23 from Rs 252.97 crore recorded in Q3 FY22. Revenue from operations rose to Rs 2,693.59 crore in Q3 FY23 from Rs 2,550.77 crore recorded in Q3 FY22.

NMDC: The company has fixed lump ore price (65.5%, 6-40mm) at Rs 4,400 per tonne, and fines price (64%, -10mm) at Rs 3,910 per tonne with effect from 28 January 2023.

One 97 Communications (Paytm): Paytm informed that its non-executive, non-independent director, Douglas Feagin, tendered his resignation vide letter dated 2 February 2023, with immediate effect.

Likhitha Infrastructure: The company has received an order worth Rs.129.63 crore (Excl. of GST) from GAIL (India) for pipeline laying and composite works for PART-B (Nagpur Jharsuguda) of MNYJPL project.

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