Important News Updates:
- Core sector industries clock 5.2 percent growth in March.
- Oil marketing companies have reduced the prices of 19 kg commercial gas cylinders.
- Vedanta plans to invest $20 billion in next 4 years: Anil Agarwal.
- GST collections scale record high of Rs 2.1 lakh crore in April.
- Govt Cuts Windfall Tax on Crude Oil, Benefits ONGC & OIL India Ltd.
- Micron’s India-Made Semiconductor Chips Set To Hit Global Markets
STOCK SPECIFIC NEWS:
- Havells India (Consolidated, YoY) Revenue up 12% to Rs 5,442 crore. Ebitda rose 20.4% to Rs 635 crore. Ebitda margin expands 81 basis points to 11.66%. Net profit up 24.8% at Rs 447 crore. Board recommends final dividend of Rs 6 per share.
- Adani Total Gas (Consolidated, YoY) Revenue up 5.09% at Rs 1,167 crore vs Rs 1,115 crore. Ebitda up 47.57% at Rs 288.02 crore vs Rs 195.17 crore. Margin up 717 bps at 24.68% vs 17.5%. Net profit up 71.54% at Rs 168 crore vs Rs 97.91 crore. Board recommends dividend of Rs 0.25 per share.
- Ambuja Cements (Standalone, YoY) Revenue at Rs 4780.32 crore vs Rs 4256.31 crore, up 12.31%. EBITDA at Rs 797.79 crore vs Rs 788.26 crore, up 1.2%. Margin at 16.68% vs 18.51% down 183 bps. Net profit at Rs 532.29 crore vs Rs 502.4 crore up 5.94%. Board recommends final dividend of 2/share.
- Godrej Group: The Godrej family is set to split the 127-year-old conglomerate into two branches. Adi and Nadir Godrej will keep Godrej Industries with its five listed companies, while cousins Jamshyd Godrej and Smita Crishna will receive the unlisted Godrej & Boyce.
- Jindal Stainless announced plans to invest Rs 5,400 crore across three major organic and inorganic capacity expansion decisions.
- BSE has revised equity derivatives transaction charges from May 13.
- Wipro received a multi-million-dollar deal with Nokia to overhaul the employee service desk.
- Kotak Mahindra Bank: KVS Manian, joint managing director of the company has resigned with immediate effect.
- Mahindra and Mahindra Financial has appointed whole-time Director Raul Rebello as Executive Director and MD & CEO effective from May 1.
