In the latest news on the stock market, several companies are making headlines before the opening bell today. Here are the key highlights:
1. Adani Enterprises: The company has raised Rs 700 crore through the allotment of non-convertible debentures on a private placement basis.
2. Tata Consultancy Services (TCS): TCS, the country’s largest IT services exporter, has reported a 8.7% year-on-year growth in profit for the quarter ended September FY24. The company’s revenue for the quarter grew by 7.9% YoY, driven by energy, resources, utilities, and manufacturing segments. TCS has also announced an interim dividend and order wins worth $11.2 billion for the quarter. Additionally, TCS has decided to buy back shares worth Rs 17,000 crore.
3. IndusInd Bank: The Reserve Bank of India has given its approval to SBI Mutual Fund for acquiring up to 9.99% of the paid-up share capital in IndusInd Bank. SBI MF must acquire the said shareholding within a year, while ensuring that the aggregate holding does not exceed 9.99% of the paid-up share capital at all times.
4. Delta Corp: The casino gaming company has recorded a consolidated profit of Rs 69.44 crore for the quarter ended September FY24. The company’s revenue from operations stood at Rs 270.6 crore. Additionally, Delta Corp has appointed new executives to key positions.
5. Rail Vikas Nigam: The state-owned railway company has emerged as the lowest bidder for a project worth Rs 28.73 crore. The project involves the installation of an integrated tunnel communication system in a new single line section.
6. Cipla: The United States Food and Drug Administration (USFDA) has inspected the manufacturing facility of Cipla’s subsidiary, InvaGen Pharmaceuticals Inc., and has classified the inspection as Voluntary Action Indicated (VAI).
7. Maruti Suzuki India: The car manufacturing company has started exporting its Jimny 5-Door model to Latin America, the Middle East, and Africa.
8. Larsen & Toubro (L&T): L&T has received a penalty of Rs 64.98 lakh under the Central Goods and Services Tax Act.
9. Patanjali Foods: The FMCG company has faced pricing pressure in the edible oil segment due to excessive imports, impacting its revenue and margins. However, it has seen growth in sales volume in the food and FMCG segments.
10. South Indian Bank: The Reserve Bank of India has approved the appointment of V. J. Kurian as the non-executive part-time chairman of the bank.
11. MIRC Electronics: The Chief Executive Officer, Vikram Surendran, has resigned from the company due to personal reasons.
12. PCBL: The RP-Sanjiv Goenka Group company has been granted two patents for invention by the Indian Patent Office.
These are some of the companies that investors should keep an eye on in today’s trading session. Make sure to stay updated with the latest news and developments in the stock market for informed investment decisions.
– Non-convertible debentures (NCDs): These are debt instruments issued by companies for a specified period, offering a fixed rate of interest. Unlike convertible debentures, NCDs cannot be converted into shares.
– Interim dividend: A dividend payment made by a company to its shareholders in between the company’s regular dividend payouts.
– Reserve Bank of India (RBI): The central banking institution of India responsible for regulating the country’s monetary and financial systems.
– United States Food and Drug Administration (USFDA): The agency of the U.S. government that regulates and supervises the safety and effectiveness of food, drugs, vaccines, medical devices, and other products.
– Central Goods and Services Tax Act (CGST Act): The law that governs the central goods and services tax in India.
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