hdfc securities Archives

Here are some of the major updates that could move the markets tomorrow:

Centre receives ₹3,636Cr dividend from IOCL

According to the secretary of the Department of Investment and Public Asset Management (DIPAM), the Central Government has received ₹3,636 crore from Indian Oil Corporation of India Ltd as a dividend tranche. Additionally, it received received about ₹23 crore from RailTel Corporation of India Ltd.

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IOC corners more than a third of D6 gas in latest Reliance auction

Indian Oil Corporation (IOC) has cornered more than a third of the natural gas that Reliance Industries Ltd and its partner BP offered in the latest auction of the KG-D6 gas. IOC got 1.45 million standard cubic meters per day out of the 4 mmscmd of gas auctioned last week. Reliance and BP last week auctioned 4 mmscmd of gas from the Krishna Godavari basin block starting December 1, 2023.

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Jubilant Foodworks to acquire majority stake in DP Eurasia

Jubilant Foodworks Ltd announced plans to acquire an additional 51.1% stake in DP Eurasia NV. DP Eurasia NV is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Azerbaijan, and Georgia. The acquisition will be carried out through a subsidiary, with a proposed consideration of up to EUR 73.36 million (approximately ₹670 crore).

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Tata Motors launches registered vehicle scrapping facility in Punjab

Tata Motors has launched a registered vehicle scrapping facility (RVSF) in Punjab, which will be the company’s fourth such unit. The facility, developed by Tata Motors’ partner Dada Trading Company, can safely disassemble 12,000 end-of-life vehicles annually. The facility, which operates both passenger and commercial vehicles, is part of the company’s commitment to eco-friendly initiatives.

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Tata Power Renewable Energy secures 200 MW FDRE project

Tata Power Renewable Energy Ltd (TPREL) secured a 200 MW firm and dispatchable renewable energy (FDRE) project from SJVN Ltd. The project, providing round-the-clock power, aligns with power distribution company’s renewable purchase obligation and energy storage obligation. The financial details of the order haven’t been disclosed yet.

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Apollo launches India’s first pediatric health assessment on chronic, lifestyle diseases in children

Apollo Hospitals has launched an industry-first pediatric ProHealth Programme to combat the increasing trend of non-communicable diseases (NCDs) among children and adolescents. The Pediatric ProHealth Programme curates tests to assess the child based on his or her family history and age group and also conducts routine tests.

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PCBL to acquire Aquapharm Chemicals for ₹3,800 crore

Philips Carbon Black (PCBL) approved the acquisition of Aquapharm Chemicals Private Limited for an aggregate of ₹3,800 crore. The proposed transaction shall be financed through a mix of internal accruals and external funds raised by the company and/or its affiliates/associates. The acquisition of ACPL marks the company’s foray into global speciality segments of water treatment chemicals and oil & gas chemicals.

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China’s Alipay to sell its 3.4% stake in Zomato for nearly $400 million

According to Reuters, Alipay plans to sell its 3.4% stake in food delivery giant Zomato for nearly $400 million through block deals on Indian stock exchanges. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed. Bank of America and Morgan Stanley are advisers on the deal.

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Sale of Aster DM’s GCC business likely to be announced soon

Aster DM Healthcare is on the verge of announcing the sale of its Gulf Cooperation Council (GCC) region business. Fajr Capital, in collaboration with key promoters, is expected to acquire the business in a landmark deal expected to be valued at $1 billion. Aster DM Healthcare has entrusted the task of overseeing the sale of its GCC business to independent directors. This decision is aimed at avoiding any potential conflicts of interest during the sale process.

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Amazon signs partnerships with HDFC Securities, TCS and Tech Mahindra

Amazon Web Services (AWS) has partnered with HDFC Securities, Tata Consultancy Services (TCS) and Tech Mahindra during its annual tech conference, Re: Invent. HDFC Securities Ltd has built its latest trading app, HDFC Sky, on the AWS cloud platform. The TCS partnership includes a generative AI practice with AWS that it hopes will aid businesses in making good on opportunities. Tech Mahindra has partnered with AWS to build a sports cloud platform.

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HDFC Bank Q1 Results: Net profit rises 16% YoY to Rs 7,730 crore

HDFC Bank reported a 16.1% year-on-year (YoY) increase in standalone net profit to Rs 7,729.60 crore for the quarter ended June (Q1 FY22). Net interest income (NII) rose 8% YoY to Rs 17,009 crore during the same period. [NII is the difference between the interest income a bank earns on its lending activities and the interest it pays to depositors]. The gross non-performing assets (GNPA) ratio stood at 1.47% in Q1 FY22, compared to 1.32% in Q4 FY21. HDFC Bank’s board has approved a dividend of Rs 6.50 per share.

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Reliance Retail acquires 40.95% stake in Just Dial for Rs 3,497 crore

Reliance Retail Ventures Ltd has acquired a 40.95% stake in Just Dial for Rs 3,497 crore. The subsidiary of Reliance Industries Ltd (RIL) received a preferential allotment of 2.12 crore equity shares (equivalent to 25.33%) of Just Dial at Rs 1,022.25 per share. It also acquired a 15.62% stake from Just Dial’s promoter, VSS Mani. Reliance Retail will make an open offer to acquire a further 26% stake in Just Dial (taking its total stake to 66.95%). Just Dial is a leading internet technology company that specializes in local search, business-to-business (B2B), and e-commerce.

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Central Bank of India to seek shareholders’ approval to set off accumulated loss of Rs 18,724 crore

Central Bank of India will seek shareholders’ approval to set off an accumulated loss of over Rs 18,724 crore from the share premium account of the bank. The lender said the setting off of accumulated loss would benefit the shareholders as their holding will yield better value. It will allow the bank to be in a better position to achieve its turnaround plans in a time-bound manner. The state-owned bank’s Annual General Meeting (AGM) is scheduled for August 10, 2021, through audio/video means.

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ED searches premises linked to Videocon Group

The Enforcement Directorate (ED) conducted raids at multiple premises of the Videocon Group in Mumbai and Delhi. The searches were in connection with a money laundering case the agency is probing against the company and its chairman Venugopal Dhoot, related to alleged loan fraud by the group in the sale of an oilfield in Mozambique.

In an FIR, the Central Bureau of Investigation (CBI) had alleged irregularities by Videocon Industries in the acquisition of oil and gas assets in Mozambique, which were later taken over by a consortium of lenders, led by the State Bank of India.

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HDFC Securities Q1 Results: Net profit rises 95% YoY to Rs 260 crore

HDFC Securities Limited reported a 94.9% YoY increase in net profit to Rs 260.6 crore for the quarter ended June (Q1 FY22). Its total income rose 67.3% YoY to Rs 457.8 crore during the same period. HDFC Securities is one of the leading retail broking firms in India. It has 215 branches across 147 cities/towns across the country. HDFC Bank holds a 96.3% stake in HDFC Securities.

Surana Solar Q1 Results: Net profit at Rs 0.07 crore

Surana Solar Limited reported a standalone net profit of Rs 0.07 crore for the quarter ended June (Q1 FY22). It had posted a net loss of Rs 0.22 crore in the corresponding quarter last year (Q1 FY21). Its revenue from operations rose 13.33% YoY to Rs 3.74 crore in Q4 FY22. Surana Solar manufactures and sells solar panels and solar photovoltaic modules in India.

Kirloskar to invest additional Rs 250 crore in NBFC arm, monetise land assets

Kirloskar Oil Engines Ltd (KOEL) announced it will be investing an additional Rs 250 crore in its non-bank finance company (NBFC), Arka Fincap. They will also monetise its 50-acre land bank in Pune for its realty company— Avanti Spaces. The Kirloskar Group has announced reorienting of businesses from B2B manufacturing engineering companies to solutions providing B2C companies. The group companies have planned large investments over the next 2-3 years across all business lines.

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FedEx invests $100 million in IPO-bound Delhivery

FedEx Express, a subsidiary of FedEx Corp, has invested $100 (~Rs 746 crore) in logistics firm Delhivery. US-based FedEx Express will manage international import and export services to and from India, while Delhivery will sell FedEx Express’ products and services in the country. The development comes less than two months after the logistics startup raised ~$277 million in funding from certain investors that valued the firm at an estimated $3 billion. Delhivery is set to launch its initial public offering (IPO) soon.

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