NMDC: The company reported a 55 percent YoY decline in Q1 FY21 PAT at Rs 533 crore. Revenue from operations fell almost 41 percent YoY to Rs 1,937.50 crore.
GMR Infrastructure: Consolidated net loss for the June quarter more than doubled to nearly 834 crore against Rs 335 crore loss in the same quarter of FY20.
PNC Infratech: Q1 consolidated PAT declined 48 percent YoY to Rs 92 crore. Revenue declined 28 percent YoY to Rs 1,093 crore.
Mahindra & Mahindra: The company announced the introduction of the Marazzo with BS-VI technology.
GMR Infra has announced strategic group restructuring to separate non-airport business into a separate unit. Board approved amalgamation of GMR Power Infra with self, followed by demerger of energy, EPC and urban infra business) from the company to its wholly owned arm GMR Power and Urban Infra. Rationale for this reorganization is to separate the Airport business (GMR Infra), with energy, urban infra and EPC business. For every ten equity shares of face value of Rs 1 held in GMR Infra, one equity share of face value of Rs 5 in GMR Power and Urban Infra to be issued to the equity shareholders of GMR Infra. There will be separate listing for both companies. Board approved raising Rs 5,000 crore via issue of securities. Appointed date for this scheme is April 1, 2021.
Due to falling FII headroom FTSE will not include/add HDFC Bank, Kotak Mahindra Bank and IndusInd Bank in its indices as earlier planned.
Edelweiss Financial Services: Board approved divesting majority stake (51%) in company’s wealth management business to private investment firm PAGAC. The wealth management arm will issue compulsory convertible debentures to PAGAC for Rs 2,204 crore and simultaneously primary issuance of securities by the company worth Rs 140 crore to the wealth management arm, PAGAC Ecstasy and other shareholders in the company. Board has also given in principle approval to whole or part of asset management business of the Group to a strategic investor and to explore fund raising opportunities, including option to raise capital from strategic investors for the general insurance business of the Group. Wealth management business (along with merchant banking business) will be demerged from the company and subsequently listed, subject to approvals.
Sun Pharma’s chairman Israel Makov stated in company’s annual general meeting that the company is evaluating the potential of some existing products which can be useful in Covid-19 treatment. These include Nafamostat Mesilate and the phyto-pharmaceutical, AQCH. Both these products are currently undergoing Phase-2 trials in India. Company is targeting new markets like Japan and Greater China for specialty products.
Allcargo Logistics: Board has considered the delisting proposal and has appointed Inga Ventures as as merchant banker. After receipt of the due diligence report from the merchant banker, the board will meet again to discuss the delisting proposal in detail.
NMDC: Board has given in-principle approval for the proposal to demerge its NMDC Iron & Steel Plant in Nagarnar, Chhattisgarh.
ACC has appointed Yatin Malhotra as the new CFO with effect from Sept. 1. He was the ex-CFO of Whirlpool India.
Ambuja Cements has appointed Rajani Kesari as the new CFO with effect from Sept. 1. She is currently the CFO of the company’s arm ACC.
Repco Home Finance: Aditya Birla Sun Life MF increased stake from 4.87% to 6.14%.
V2 Retail said that it has opened 4 new retail stores and closed 4 retail stores. Currently 74 retail stores are operational.
HCC won three projects worth Rs 7,402 crore which were won in a joint venture in the months of July and August. Company’s share in these orders are Rs 3,337 crore.
Atul Auto: Aditya Birla Sun Life MF reduced stake from 5.01% to 2.74% on Aug.25
General Insurance Corporation: Atanu Kumar Das, MD and CEO of Bank of India has been appointed as director on board of the Corporation
While this is good, i would recommed, please post their charts also.
ReplyDeletesure will try thnx for suggestion
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