26 April 2024

26.04.2024

BIG NEWS OF THE DAY

The Pune-based company Firstcry will

refile its IPO papers with the Security and
Exchange Board of India (SEBI) with an
updated list of key performance indicators
(KPIs). It will withdraw its current set of
IPO papers. It is for an up to $500 million
IPO. SEBI has raised questions about the
company’s key metrics disclosed to
investors.

Tata Steel has decided to proceed with its

£1.25-billion investment to build an
electric arc furnace in Port Talbot,
replacing two blast furnaces and
commence closure of the existing heavy
end assets in the following months. Port
Talbot’s two Blast Furnaces No.5 and No.4
will close by the end of June, and by the
end of September, respectively.
 26.04.2024

MAJOR HAPPENINGS TODAY

The Arbitral Tribunal has pronounced an
award in the arbitration matter between L&T
and NHPC in favor of Larsen & Toubro. L&T
will receive the net claim amount of Rs
337.57 crore, and the counter claim amount
of Rs 45.18 crore will be received by NHPC.

InterGlobe Aviation, IndiGo has placed an

order for 30 firm Airbus A350-900 aircraft for
further expansion of its network. The aircraft
will be powered by Rolls-Royce’s Trent XWB
engine. Currently, IndiGo operates over 350
aircraft. In addition to the 30 Firm A350-900
order, it has purchase rights for an additional
70 Airbus A350 Family aircraft.

PSP Projects has raised Rs 244 crore as the

board approved the allocation of 36,41,791
equity shares to eligible qualified institutional
buyers at an issue price of Rs 670 per equity
share.
 26.04.2024

MARKET
STOCKS TO WATCH OUT

BHEL
First Source Solution
Maruti Suzuki
IndusInd Bank
Container Corporation
Bharat Dynamics
Orient Cement
Brigade Enterprise
NMDC
SBI
Tech Mahindra

Stock under F&O Ban

Vodafone Idea
 26.04.2024

MARKET
IPO Listing TODAY
Faalcon Concepts will be listed TODAY on the
BSE SME. The issue price is Rs. 62 per share.

RESULTS TODAY
Maruti Suzuki India, HCL Technologies, Aditya
Birla Sun Life AMC, Bajaj Finserv, SBI Life
Insurance Company, Shriram Finance, Bajaj
Holdings & Investment, CSB Bank, Eveready
Industries India, Force Motors, Indiabulls Real
Estate, Bank of Maharashtra, Mastek, Motilal
Oswal Financial Services, and SBI Cards and
Payment Services
 26.04.2024

NEWS YOU CAN USE

Aavas Financiers reported standalone net

profit of Rs 142.6 crore for the quarter ended
March FY24, growing 12.5 percent over a
year-ago period. Net interest income grew by
14 percent year over year to Rs 324.4 crore
for the quarter.

Bajaj Finance reported a net profit of Rs

3,825 crore for the March FY24 quarter,
growing 21% over the corresponding period
of the last fiscal. Net interest income grew by
28% year-on-year to Rs 8,013 crore for the
quarter.

Cyient reported a consolidated net profit of

Rs 196.9 crore for quarter ended March FY24,
growing 28.5% over the previous quarter. The
profit in Q3FY24 was impacted by exceptional
loss of Rs 50.3 crore. Revenue grew by 2.2%
QoQ to Rs 1,860.8 crore for the quarter.

IndusInd Bank registered a 15% on-year

growth in standalone net profit at Rs 2,347
crore for the quarter ended March FY24. Net
 26.04.2024

NEWS YOU CAN USE

interest income increased by 15.1% year-on-

year to Rs 5,376.44 crore for the quarter.

KPI Green Energy recorded a massive 35.4

percent on-year growth in consolidated net
profit at Rs 43 crore for the quarter ended
March FY24. Revenue from operations
increased sharply by 58.6 percent year over
year to Rs 289.4 crore for the quarter.

L&T Technology Services recorded net profit

at Rs 341.4 crore for January-March quarter
of FY24, rising 1.4% over previous quarter
due to pressure in EBIT margin. Revenue
from operations increased by 4.8%
sequentially to Rs 2,537.5 crore for the
quarter.

Schaeffler India registered consolidated net

profit at Rs 219.7 crore for the January–
March 2024 quarter, rising 0.16 percent over
a year-ago period. Revenue from operations
grew by 10.6 percent year-on-year to Rs
1,873.1 crore for the quarter.
 26.04.2024

NEWS YOU CAN USE

Som Distilleries and Breweries reported
consolidated net profit of Rs 20 crore for the
quarter ended March FY24, rising nearly 26
percent over the year-ago period. Revenue
from operations grew by 51 percent year-on-
year to Rs 381.6 crore for the quarter.

Tech Mahindra recorded a consolidated net

profit at Rs 661 crore for quarter ended
March FY24, rising sharply by 29.5% over the
previous quarter. Revenue from operations
fell by 1.8% sequentially to Rs 12,871.3 crore
for the quarter.

Tanla Platforms recorded consolidated net

profit at Rs 130.2 crore forthe January-March
the January-March FY24 quarter, rising 8.2
percent over a year-ago period. Revenue
 26.04.2024

NEWS YOU CAN USE

from operations grew by 20.6 percent year

over year over year to Rs 1,005.5 crore. The
board has recommended a final dividend of
Rs. 6 per share.

UTI Asset Management Company recorded

strong consolidated net profit at Rs 162.8
crore for the quarter ended March FY24,
growing sharply by 90% over the same period
last fiscal. Revenue grew 38.4% year-on-year
to Rs 416 crore for the quarter. The board has
recommended a final dividend of Rs 24 per
equity share and a special dividend of Rs 23
per equity share for FY24.

Zensar Technologies registered consolidated

net profit at Rs 173.3 crore for the January–
March FY24 quarter, growing 45.4 percent
over the same period in the in the previous
fiscal year. Revenue from operations grew by
1.4 percent year-on-year to Rs 1,229.7 crore
for the quarter.
 26.04.2024

DO YOU KNOW?
The rise and fall of brokers
Brokers which have gained and lost in terms
of customers between Jan’22 and Jan’24

Source: Finology ticker. The securities quoted are for illustration only and are not recommendatory.

QUOTE OF THE DAY

“The function of economic forecasting is to
make astrology look respectable.”
- John Kenneth Galbraith