Equity markets in the previous session rose over one per cent in a single day for the first time since June 21, supported by positive European cues with buying across sectors and falling oil prices. The BSE Sensex soared over 600 points to 53,751, while the Nifty 50 climbed nearly 180 points to 15,989. Buying was also seen in a wider range because nifty The Midcap 100 and Smallcap 100 indices rose 1.9 per cent and half a per cent, respectively, while the volatility index India The VIX declined 2.5 per cent to 20.27 level, which was a comfort for the bulls.
SpiceJet
The Directorate General of Civil Aviation (DGCA) has issued a show-cause notice to SpiceJet in the light of the increasing number of air security incidents witnessed by the low-cost airline. The aviation safety regulator said in its notice that the airline has “failed to establish safe, efficient and reliable air services”. Responding to the notice, SpiceJet CMD Ajay Singh said the airline would be “doubly careful” and strengthen inspection of aircraft before leaving for flights.
Hero Motocorp
Hero MotoCorp (HMCL) shares rose 4 per cent to Rs 2,837 in Wednesday trade on expectations of strong June quarter earnings (Q1FY23), hitting a four-month high on the BSE. HMCL sold 1.39 million units in Q1FY23 and registered a strong double digit growth of 35.7 per cent as compared to Q1FY22, when the company sold 1.03 million units. Sequentially, the company registered a growth of 17 per cent in overall sales when the company had sold 1.19 million units in Q4FY22.
veljan denson
The company has signed a share purchase agreement to acquire a 100 percent stake in Aden Holdings for £1.4 million. Aban has stakes in hydraulics and engineering companies in the UK. The said acquisition will be completed by August 2022.
Equitas Small Finance Bank
Small Finance Bank posted 22 per cent growth in Q1FY23 gross advances to Rs 21,699 crore and 5 per cent sequential growth, while deposits grew 19 per cent YoY and 8 per cent QoQ at Rs 20,386 crore.
Deep Industries
The company has received letter of award from ONGC for hiring charter of 1000 HP Mobile Drilling Rig for Ahmedabad assets for a period of 3 years. The total estimated value of the said awards is $19.02 million or Rs 150.24 crore.
PBA Infrastructure
The company said that the board has approved voluntary delisting of equity shares of the company from NSE, but the equity shares will continue to be listed on BSE.
East West Holdings
The company has entered into a share purchase agreement with Unique Airfreight Express & Logistics Pvt Ltd. It will acquire 37.5 per cent stake in Unique Airfreight Express in the first tranche and the remaining 62.5 per cent stake will be acquired within a period of 1 year. The cost of acquisition is Rs 4 crore.
Titagarh Wagons
HDFC Asset Management Company sold 2.15 per cent stake or 25.7 lakh shares in the company through an open market transaction on July 4. With this, HDFC AMC reduced its stake in the company to 7.02 per cent from 9.17 per cent earlier.
City Union Bank
The bank said the board of directors has approved raising of further capital of Rs 500 crore through the QIP route, subject to shareholder approval.
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