vehicle registrations Archives

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

Adani Enterprises Q4 Results: Net profit jumps 137% YoY to Rs 722 crore

Adani Enterprises reported a 137% YoY increase in net profit to Rs 722.48 crore for Q4 FY23. Its operating revenue rose 26% YoY to Rs 31,346 crore during the quarter. EBITDA stood at Rs 3,586 crore, up 183% YoY. The company’s board has approved a dividend of Rs 1.2 per equity share.

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Reliance Industries’ shareholders, creditors approve demerger of financial services arm

Reliance Industries’ shareholders and creditors have approved the demerger of its financial services unit with nearly 100% of the votes cast in favour. The unit will be renamed Jio Financial Services. Shareholders of Reliance Industries will receive one share of the demerged entity for every one share held in Reliance Industries. Shares of Jio Financial Services will be listed on both BSE and NSE after demerger.

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HDFC Q4 Results: Net profit jumps 20% YoY to Rs 4,426 crore

HDFC reported a 20% YoY jump in net profit to Rs 4,426 crore for Q4 FY23. Its total operating revenue rose 35.6% YoY to Rs 16,679.43 crore during the quarter. The bank’s Net Interest Income (NII) stood at Rs 5,321 crore, up 16% YoY. The bank’s board has approved a dividend of Rs 44 per equity share.

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Adani Ports sells coastal international terminals in Myanmar for $30 million

Adani Ports & Special Economic Zone Ltd (ASPEZ) has sold its Myanmar coastal international terminals to Solar Energy for $30 million. Solar Energy will pay the amount to APSEZ within three business days after completing compliance. Once APSEZ receives the transaction value, the equity transfer will occur and its exit will be concluded.

In other news, APSEZ handled 32.3 million tonnes of total cargo in April 2023, a YoY growth of 12.8%.

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Tata Power Q4 Results: Net profit jumps 48% YoY to Rs 939 crore

Tata Power reported a 48% YoY increase in net profit to Rs 939 crore for Q4 FY23. Its revenue increased 6% YoY to Rs 12,755 crore from Rs 12,085 crore during the same period. EBITDA stood at Rs 3,101 crore in Q4 FY23, up 38% YoY. The company’s board has recommended a dividend of Rs 2 per equity share.

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Patel Engineering JV bags orders worth Rs 1,310 crore

Patel Engineering and its Joint Venture (JV) partners have been awarded EPC Turnkey Basis projects worth Rs 1,310 crore. These projects are the Tumkur Branch Canal (Package III) Micro Irrigation Project from Visvesvaraya Jala Nigama and the Sher Micro Irrigation Project from the Water Resources Department of Madhya Pradesh.

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Vehicle registrations declines by 4% in April

Vehicle registrations in India declined by 4% to 1,724,935 units in April, with retail sales of two-wheelers down 7.3% and of passenger vehicles down 1.35%. According to data from the Federation of Automotive Dealers Associations (FADA), the decline was due to the shift to BSVI norms, untimely rains and advanced purchases in March ahead of an anticipated price rise.

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TVS Motor Q4 Results: Net profit jumps 49% YoY to Rs 410 crore

TVS Motor reported a 49% YoY increase in net profit to Rs 410 crore for Q4 FY23. Its operating revenue increased 19.4% YoY to Rs 6,605 crore during the quarter. EBITDA stood at Rs 3,101 crore in Q4 FY23, up 38% YoY. The company’s board has recommended a dividend of Rs 2 per equity share.

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G R Infraprojects secures highway project in UP

G R Infraprojects has won a bid for a highway project in Kausambi, Uttar Pradesh, with a bid of Rs 737.17 crore. The project involves constructing a 38.2 km section of NH-731A with paved shoulders. It is expected to be completed within 730 days, with an operation period of 15 years from the commercial operation date.

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Zydus Lifesciences gets final approval from USFDA to manufacture ulcer drug

Zydus Lifesciences has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Sucralfate Tablets. The drug is used to treat and prevent ulcers in the intestines. The drug will be manufactured at Zydus Lifesciences’ topical manufacturing facility in Special Economic Zone, Ahmedabad.

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IGL signs MoU with ACME Cleantech to jointly supply GreenHydrogen, set up infrastructure

Indraprastha Gas Ltd (IGL) has signed a Memorandum of Understanding (MoU) with Acme Cleantech Solutions Pvt Ltd (ACME) to explore potential business opportunities for Green Hydrogen. IGL and ACME will explore opportunities to set up hydrogen generation plants, including electrolysers. They will also blend green hydrogen into IGL’s existing pipeline networks supplying gas to households, industries, and commercial setups, and CNG for vehicles.

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

Vehicle registrations grow in strong double-digits in November

Vehicle registrations grew in strong double-digits in November, even after the close of the festive season. Consumers bought vehicles betting on improvement in the general economic situation, employment, and household income. Overall registrations rose 25.71% year-on-year (YoY) to 23,80,465 units. Sales were marginally higher by 1.52% compared to the pre-covid month of Oct 2019.

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Marico to acquire Vietnam-based Beauty X Corporation for ₹172 crore

Marico Ltd has entered into a definitive agreement to acquire Vietnam-based personal care firm Beauty X Corporation for ₹172 crore. Beauty X owns female personal care brands Purité de Prôvence and Ôliv, which offer a range of products such as shower gels, shampoos, conditioners, face wash, and lotions. The transaction is expected to be completed by March 31, 2023.

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V-Guard Industries to acquire Sunflame Enterprises for ₹660 crore

V-Guard Industries Ltd will acquire a 100% stake in kitchen appliance company Sunflame Enterprises for ₹660 crore. The deal will be funded through a mix of internal accruals and debt. The acquisition is in line with V-Guard’s strategy to become a significant player in the domestic kitchen appliances segment. The deal will be closed by mid-January 2023.

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Lupin launches generic joint pain drug in US market

Lupin Ltd has launched a generic version of Pennsaid, used to treat pain in the knees caused by osteoarthritis, in the US market. The product (Diclofenac Sodium Topical Solution 2%) is the generic version of Horizon Pharma Therapeutics’ Pennsaid. As per IQVIA MAT October 2022 data, Diclofenac Sodium Topical Solution had estimated annual sales of $509 million in the US.

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TVS Motor subsidiary to acquire EV-related assets in Germany

TVS Motor Company’s Singapore-based subsidiary has signed an agreement to acquire electric vehicle (EV)-related technology and assets in Germany. The assets will help strengthen TVS Motor’s expansion in the EV two-wheeler market globally. TVS Singapore will acquire the assets through its subsidiary BBT Vermogensverwaltungs GmbH (or Celerity Motor GmbH).

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Greenko Group emerges lowest bidder for NTPC’s 300 MWh energy storage tender

Greenko Group has emerged as the lowest bidder in the world’s first and largest technology-based 3,000-megawatt hours (MWh) storage tender from NTPC Renewable Energy Ltd (NTPC REL). Hyderabad-based Greenko is backed by GIC Holdings Pte Ltd, Abu Dhabi Investment Authority, and Japan’s ORIX Corp. The company also partnered with state-run ONGC to develop green ammonia production and storage facilities for export purposes.

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Equity mutual fund inflows fall 76% to lowest in 21 months in November: AMFI

Inflows into equity mutual funds fell to the lowest level in 21 months in November 2022. Net investment into equity and equity-linked schemes declined nearly 76% over the previous month to ₹2,258.35 crore. The number of Systematic Investment Plan (SIP) accounts reached 6.04 crore in Nov, compared to 5.93 crore in October. The mutual fund industry (across debt and equity) recorded a total net inflow of ₹13,263.6 crore in November, compared to an inflow of ₹14,047 crore in October.

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Ethos enters into exclusive retail partnership with German-brand Tutima

Luxury watch retailer Ethos Ltd has signed an exclusive retail partnership with Tutima to introduce the Germany-based brand in India. Through this partnership, Ethos will exclusively retail its sporty and performance-driven timepieces across India. Tutima is known among collectors and enthusiasts as pilot’s watches, which they first started making in the 1980s.

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Bajaj Consumer Care announces buyback at ₹240 per share

Bajaj Consumer Care Ltd announced an ₹80.89 crore share buyback at ₹240 per share through the open market route. The maximum number of equity shares proposed to be bought back at the maximum buyback size and price would be 33.7 lakh equity shares. The FMCG company will utilize at least 50% of the maximum buyback size (₹40.44 crore) and purchase a minimum of 16.85 shares.

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