The Financial Express
On Monday, markets extended their gaining streak, as Nifty rose 0.22% to 17,398, while Sensex added 114 points to settle at 59,106. “Investors were of the view that the easing price pressure would provide the central bank with leeway to pause the rate hike. However, the surprise production cut by OPEC+ has fuelled concerns about inflationary pressure, which may prompt central banks to remain hawkish. The downside pressure in the market was mitigated as auto stocks rallied in response to the latest sales data, indicating a surge in demand. Additionally, India’s manufacturing PMI exceeded expectations, demonstrating its swiftest growth rate in three months due to increased output and new orders,” said Vinod Nair, Head of Research, Geojit Financial Services. Here’s a look at the stocks that made the headlines on Monday.
The firm recorded the “highest ever” aluminum production during FY23, at 22.91 lakh tonnes, higher by 1% from the 22.68 lakh tonnes produced in the preceding fiscal.
The private sector lender said it has recorded a 16.9% increase in credit growth at Rs 16 lakh crore at the end of the March quarter. The bank had an outstanding credit at Rs 13.6 lakh crore at the end of March 31, 2022.
Vodafone Idea lost market share in 17 out of 22 key circles in January according to Trai data. For the last one year till January end, the company has been losing its market share in these circles.
The construction major has been awarded a work order from the Ministry of Home Affairs to construct a border of 88.58 kilometers in Mizoram along the Indo-Bangladesh border. The total project cost is expected to be Rs 448 crore.
The firm secured two major work orders. First, from the Government of Bihar to implement and manage an electronic knowledge network in government engineering colleges and polytechnic institutes for a total consideration of Rs 76.1 crore. The second work order relates to the National Informatics Centre Services commissioning 4 mbps lease line connectivity across 19 locations for a cost of Rs 38.95 crore.
CRISIL Ratings has reaffirmed its ‘CRISIL A/Stable’ rating to combined bank facilities of Adani Power.
The paint company is set to acquire a 51% stake in Apple Chemie India, which will boost the company’s product portfolio in the space of construction and waterproofing products. The 44,924 equity shares are acquired valued at Rs 6,529 per equity share or Rs 29.3 crore.
The board of directors approved an intermediate dividend of 60%, that is, Rs 6 per equity share with face value of Rs 10 each. The record date for the payment of the dividend is 18 April, 2023.
In March 2023, the overall disbursement is estimated at Rs 5,600 crore delivering a 42% on-year growth. The Q4FY2023 disbursements at Rs 13,750 crore registered a growth of 50% on-year. FY2023 disbursement was approximately at Rs 49,500 crore registering an on-year growth of 80%.
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