January futures contract of smelly 50 on the Singapore Exchange indicates a positive start for domestic equities on Monday. The contract was trading at 18,113.50, up 154.5 points or o.86% from the previous close.
TCS: The stock of the IT major will be in limelight today as the company announced its Q3 results. The IT major is expected to report 18 per cent year-on-year growth in third quarter earnings.
Shares of other IT companies may also react.
IDBI Bank: The Department of Investment and Public Asset Management (DIPAM) has received at least five expressions of interest (EoIs) for the proposed 61 per cent stake and transfer of management control in IDBI Bank. The sale is expected to conclude by the middle of the next financial year.
Lupine: The company has received approval from the US Food and Drug Administration to market fesoterodine fumarate extended-release tablets in 4-mg and 8-mg strengths. The drug is a generic version of Pfizer Inc’s Toviaz extended-release tablets, which is used to treat overactive bladder.
Electronics Mart India: The lock-in period of shares allotted to anchor investors will partially expire this week. Lock-in ends for only half of these shares; The other half will keep in the freezer for up to 60 days.
Heritage Foods: The company has scheduled a meeting of its board on January 13 to consider and approve the final offer letter for the proposed rights issue including the record date. Earlier, the board had approved the issue of 46.40 lakh shares on rights basis at Rs 5 per share.
NBFCs Q3 Results Preview: According to analysts, the top line growth of non-BFSI companies is expected to be the lowest since Q4FY21 quarter.
Dr Lal PathLabs: Private diagnostic player eyeing a leadership position in western India market within the next five years on the back of Suburban Diagnostics, its wholly owned subsidiary. The company’s MD Om Manchanda said that in the first half of FY2023, the contribution of the west region has increased to 8 percent.
Paytm: Paytm Payments Bank on Sunday appointed Surinder Chawla as its new Managing Director (MD) and CEO for a period of three years. The appointment has got RBI approval. Chawla is a seasoned banker with over 28 years of experience in institutions such as HDFC Bank, RBL Bank, ABN AMRO Bank and Standard Chartered.
Hi-Tech Pipes: The company has signed an MoU with the Government of Uttar Pradesh to set up a mega manufacturing facility of steel tubes and pipes and flat steel processing.
Pharma: Data shows that the price driven growth rate in the calendar year 2022 has been 6 percent; Growth from new products has been 1.7 per cent, while volume growth has been zero.
Bimalendra Jha, managing director of Jindal Steel and Power Ltd (JSPL), said the steel firm would invest up to Rs 1,500 crore to operationalize the recently acquired Monnet Power. This investment will be made over a period of next 12 to 18 months.
PTC India: According to sources, Gautam Adani is said to be one of the potential bidders reviewing preliminary information on PTC. State-owned NTPC, NHPC, Power Grid Corporation and Power Finance Corporation are looking to sell four per cent stake each in PTC.
Gland Pharma: Singapore-based wholly owned subsidiary Gland Pharma International Pte, has entered into a share purchase agreement with FPCI Sino French Midcap Fund to acquire wholly owned stake in Senxi in November 2022 in terms of a put option agreement.
Macrotech Developers: Lodha Group reported 16 per cent growth in Q3FY23 on pre-sales basis at Rs 3,035 crore. The nine-month pre-sales of the real-estate firm in FY23 stand at Rs 9,039 crore, which has already surpassed the pre-sales achieved in the entire FY22.
Oil Marketing Companies (OMCs): According to a report, OMCs are selling petrol at a profit of Rs 10 per liter but retail prices have not been reduced as they are recovering past losses and Rs 6.5 per liter on diesel doing damage to Brokerage firm ICICI Securities said the estimated earnings before interest, tax, depreciation and amortization (EBITDA) was Rs 2,400 crore for IOC, Rs 1,800 crore for BPCL and Rs 800 crore for HPCL for the October-December quarter.
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