Stock for viewing on Monday.
Stocks to watch: Shares of companies like Indigo, SpiceJet, IOC, Paytm, Vodafone Idea, Granules India and others will be in focus in Monday’s trade.
smelly Futures contracts traded on the Singapore Exchange indicated a negative opening for domestic equities. The contract was trading at 17,496.50, down 46 points or 0.26% from the previous close.
SpiceJet: The airline operator reported nearly five-fold growth in net profit in the October-December quarter (Q3FY23) to Rs 107 crore from Rs 23.28 crore in the year-ago period. Management said the profit was driven by strong performance in the cargo and passenger segments. Despite this, higher fuel prices and deceleration continue to act as headwinds for the overall performance.
IOC: The company will set up green hydrogen plants at all its refineries as it embarks on a Rs 2 trillion green transition plan to achieve net-zero emissions from its operations by 2046. million tons.
InterGlobe Aviation: Over 50 planes of IndiGo and GoFirst are grounded due to Pratt & Whitney engine crisis amid adverse supply chain conditions. Airline operator IndiGo is looking at several options, including slowing down redeployment through lease extensions, re-inducting aircraft into the fleet.
Mahindra Lifespaces: The realty firm expects the industrial leasing business to reach annual revenue of Rs 500 crore by 2025, up from Rs 298 crore during the last fiscal. Meanwhile, in the residential segment, the company expects to reach Rs 2,500 crore by 2025, up from Rs 1,000 in the last financial year.
Granules India: The pharma major received USFDA approval for Abbreviated New Drug Application (ANDA) of Losartan Potassium Tablets – 25 mg, 50 mg and 100 mg. The tablets are used to treat high blood pressure in adults and pediatric patients.
Paytm: Indian telecom tycoon Sunil Mittal is seeking a stake in Paytm by merging his financial services unit with the fintech giant’s payments bank, Bloomberg reported. In other news, Ant Group is looking to sell some of its shares in Paytm to keep its holding within the required limit.
Vodafone Idea: Shareholders of Vodafone Idea on Saturday approved a preferential issue of optionally convertible debentures (OCDs) worth Rs 1,600 crore to American Tower Corp (ATC), a move that will make the cash-strapped telco the largest American tower company. will allow payment of Amount due
Indiabulls Housing: Indiabulls Housing has approved a public issue of secured redeemable non-convertible debentures for an amount of up to Rs 100 crore, with an option to retain oversubscription up to Rs 800 crore, taking the aggregate up to Rs 900 crore.
Adani Ports and SEZ: The management announced that the company’s cargo volume has crossed 330 million metric tonnes (MMT) in 329 days, surpassing its milestone of 354 days last year.
ABB India: The company will invest Rs 1,000 crore in India business over the next five years for capacity expansion. The new facility at Nashik will help in doubling the gas insulated switchgear (GIS) generation capacity and in the development of power distribution, smart cities and other infrastructure.
Edelweiss Financial Services: The company received shareholders’ approval for demerger of its wealth management business, paving the way for listing of Nuwama Wealth Management. The management said that the objective of the demerger is to provide shareholders with a means to directly participate in the growth journey of Nuwama.
Phoenix Mills: Palladium Construction, a wholly owned subsidiary of the company, acquired prime land parcel at Alipore, Kolkata for Rs 414.31 crore to develop premium and luxury residences. The management expects the project to be completed by 2028-29.
Tega Industries: The company is set to acquire McNally Sayaji Engineering to expand its business portfolio to serve global and Indian businesses. The acquisition is expected to be completed in the next two months, and will finance the acquisition through an optimal mix of internal resources and debt.
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