Mindtree: The company has reported a sharply higher profit at Rs 326.5 crore in Q3FY21 against Rs 253.7 crore, while revenue rose to Rs 2,023.7 crore from Rs 1,926 crore QoQ.
Maruti Suzuki: The company increased prices by up to Rs 34,000 ex showroom in Delhi, effective from January 18.
Cholamandalam Investment: Arun Alagappan tendered his resignation as MD and Director of the company.
L&T Finance Holdings: The Board of Directors have approved the terms of the Rights Issue announced on November 9, 2020. The board has approved the issuance of 46.13 crore fully paid-up shares of face value of Rs 10 each, for an aggregate amount of Rs 2,998.61 crore. The record date has been set as January 22, 2021 and the issue price of Rs 65 per share is at a discount of 34.67% to Monday's closing price. The issue will open on February 1, 2021 and close on February 15, 2021. The rights entitlement ratio is 17 shares for every 74 shares held by the eligible shareholders of the company.
Tata Steel: Bloomberg reports quoting Swedish business daily Dagens Industri that talks of a potential acquisition of the company's IJmuiden steel mill are running out of steam as SSAB's two largest shareholders are skeptical to the idea. The two shareholders have 10.5% and 10.4% of the total votes in SSAB.
Apollo Hospitals: QIP issue opens today. Bloomberg reports that the company intends to raise as much as Rs 1,000 crore through the sale of 40.7 lakh shares. The floor price for the QIP issue has been fixed at Rs 2,508.58 per share, which is a 3.4% discount to Monday's closing price.
Maruti Suzuki India: Has increased the price of select models due to increase in various input costs. The price change varies across models and ranges up to Rs 34,000 (Ex-Showroom - Delhi). The new prices are effective from January 18.
IRB Infrastructure Developers: SPV achieves financial closure for Gandeva-Ena HAM project on the upcoming Vadodara-Mumbai expressway in Gujarat. Lenders extend project financing worth Rs 747 crore, NHAI support for the project will be Rs 702 crore. The company will infuse Rs 253 crore as its equity contribution. The project concession will comprise of 730 days for construction and 15 years for operations and maintenance thereafter.
RBL Bank: Has approved the re-appointment of Vishwavir Ahuja as the Managing Director & Chief Executive Officer of the Bank for a period of three years, from June 30, 2021 to June 29, 2024.
Jindal Stainless (Hisar): Jindal Stainless Steelway, a subsidiary of the company has acquired 1.56 crore equity shares of Rs 10, constituting 67% of paid up capital of its associate company namely JSS Steelitalia for a cash consideration of Rs 2.41 crore. After the acquisition, JSS Steelitalia has become a wholly-owned subsidiary of Jindal Stainless Steelway and a step-down subsidiary of the company.
United Drilling Tools: To set up a new manufacturing plant in Gujarat, near the Mundra Port. The plant will be built over 35 acres with an initial capital outlay of Rs 15 crore and is proposed to be entirely funded through internal accruals. The company said it expects 50-70% incremental revenues from this development over the next two years.
TVS Motor: A meeting of the Board of Directors is scheduled on January 28 for declaration of interim dividend, if any for FY 2020-21. The record date for the purpose of interim dividend, if declared, will be February 5, 2021.
Emami: A meeting of the Board of Directors is scheduled on January 27 to consider the proposal of declaration of second Interim Dividend for FY 2020-21. The record date for the purpose of Interim Dividend, if declared, will be February 5, 2021.
Raymond: A meeting of the Board of Directors is scheduled on January 21 to consider and approve the issuance of NCDs aggregating up to an amount of Rs 200 crore on a private placement basis.
Sundaram Clayton: A meeting of the Board of Directors is scheduled on January 29 for declaration of interim dividend, if any, for the FY 2020-21. The record date for the purpose of interim dividend, if declared, will be February 6, 2021.
Non-Nifty Earnings Today: Alembic Pharma, CEAT, CSB Bank, DCM Shriram, Gateway Distriparks, Hatsun Agro, ICICI Lombard, L&T Infotech, Bank of Maharashtra, Mold-Tek Packaging, Network18, Tata Communications, Tata Metaliks, Tata Steel BSL, TV18 Broadcast.
