Buzzing Stocks: Jio Financial Services, Adani Enterprises, Wipro, Tata Consumer Products, Nykaa, BHEL, D-Mart, LIC and others in news

Results today: Jio Financial Services, Angel One, Fedbank Financial Services, Kesoram Industries, Metalyst Forgings, Nelco, PCBL, Reliance Industrial Infrastructure, Suraj Estate Developers, Brightcom Group, Choice International, Digicontent, Excel Realty N Infra, and Jai Balaji Industries will be in focus ahead of quarterly earnings on January 15.

Tata Consumer Products: The FMCG company has signed definitive agreements to acquire a 100 percent stake in Capital Foods, the owner of Ching’s Secret and Smith & Jones, in a phased manner. The enterprise value on a ‘no cash/no debt basis’ for 100 percent of Capital Foods is Rs 5,100 crore. 75 percent of the equity shareholding will be acquired upfront, and the remaining 25 percent will be acquired within the next three years. Further, the Tata Group company also signed definitive agreements to acquire up to a 100 percent stake in Organic India, a ‘better for you’ organic brand spanning food and beverages and herbal and traditional supplements. The enterprise value on a ‘no cash/no debt basis’ for 100 percent of Organic India is Rs 1,900 crore. Meanwhile, the company said the Board of Directors will meet on January 19 to consider fund raising via debt issues and equity issues through rights issues.

Adani Enterprises: Adani New Industries, a wholly owned subsidiary of the company, has received a Letter of Award (LoA) from the Solar Energy Corporation of India (SECI) for setting up an electrolyser manufacturing capacity of 198.5 MW per annum in India under the Strategic Interventions for Green Hydrogen Transition Scheme (Tranche-I).

Wipro: The company has reported IT services revenue at Rs 22,150.8 crore for the quarter ended December FY24, falling 1.09 percent over the previous quarter, while revenue in dollar terms dropped 2.1 percent sequentially to $2,656.1 million, and the same in constant currency fell 1.7 percent QoQ for the quarter. Net income grew by 1.8 percent QoQ to Rs 2,694.2 crore in Q3 FY24. IT services EBIT was down 1.8 percent at Rs 3,542.6 crore, and margin dropped 11 bps to 16 percent compared to the previous quarter. Wipro expects IT services revenue in the range of $2,615-2,669 million, translating into sequential guidance of -1.5 percent to +0.5 percent in constant currency terms.

Life Insurance Corporation of India: The Corporation has received an order from Income Tax authorities regarding Income Tax demand worth Rs 1,370.60 crore issued by Assistant Commissioner of Income Tax, Mumbai. The corporation will file an appeal before the Commissioner (Appeals), Mumbai, against the said orders.

Bharat Heavy Electricals: BHEL has received a Letter of Award (LOA) for the EPC package for the 3×800 MW NLC Talabira Thermal Power Project (NTTPP) in Jharsuguda, Odisha, from NLC India. The project is worth Rs 15,000 crore.

FSN E-Commerce Ventures: Lexdale International, the asset management firm, has sold 2,62,37,880 equity shares in the Nykaa parent via open market transactions. These shares were sold at an average price of Rs 188.83 per share, valued at Rs 495.4 crore.

Avenue Supermarts: The D-Mart operator has recorded 17 percent on-year growth in consolidated profit at Rs 690 crore for the quarter ended December FY24. Revenue from operations during the same period increased by 17.3 percent to Rs 13,572 crore, and EBITDA grew by 16 percent to Rs 1,120 crore, but the margin remained flat at 8.3 percent year-on-year.

Gillette India: Nippon India Mutual Fund has bought 3.3 lakh equity shares in the company via open market transactions at an average price of Rs 6,755 per share, amounting to Rs 222.91 crore. However, corporate firm Adventz Finance sold 6 lakh shares (1.84 percent of paid-up equity) in the company at an average price of Rs 6,757.60 per share, which were valued at Rs 405.5 crore. Adventz held 3.41 percent of the shares in the company.

Lupin: The pharma major has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for propranolol hydrochloride extended-release capsules to market a generic equivalent of Inderal LA extended-release capsules from ANI Pharmaceuticals, Inc. in the US. The capsules are used to treat hypertension and migraines.

HCL Technologies: The technology company has registered a 13.5 percent QoQ growth in profit at Rs 4,350 crore for the quarter ended December FY24, beating analysts’ expectations. Revenue during the quarter grew by 6.7 percent sequentially to Rs 28,446 crore and constant currency revenue growth at 6 percent, while EBIT increased by 13.8 percent QoQ to Rs 5,615 crore with a margin expansion of 130 bps at 19.8 percent for the quarter. HCL Tech sees full-year revenue growth in constant currency in the range of 5 percent to 5.5 percent and an EBIT margin of 18–19 percent.

IRB Infrastructure Developers: IRB Infrastructure Trust has incorporated IRB Kota Tollway, the project SPV for tolling, operation, maintenance, and transfer of Kota bypass and cable stay bridge on NH-76 in Rajasthan, and IRB Gwalior Tollway, the project SPV for tolling, operation, maintenance, and transfer of the Gwalior-Jhansi section of NH-75 in Madhya Pradesh and Uttar Pradesh (collectively the TOT-13 project). The company has executed concession agreements with the National Highways Authority of India (NHAI) for the TOT-13 project.

Just Dial: The local search engine has recorded a 22.3 percent on-year growth in net profit at Rs 92 crore for the quarter ended December FY24, while revenue from operations increased by 19.7 percent YoY to Rs 265 crore during the same period. EBITDA margin expanded 1,054 bps YoY, led by topline growth and strong cost controls.

Allcargo Gati: The logistics company said total volume, including surface and air express, stood at 105kt for December 2023, recording an increase of 7 percent compared to December 2022. In comparison to November 2023, volumes increased by 6 percent. Volume growth has come despite a high base last year.

Usha Martin: The board members have appointed Manish Kumar Jain as Senior Vice President, Engineering, of the company, effective January 13. Prior to joining Usha Martin, with over 33 years of experience, he worked with Rungta Mines, Tata Steel Long Products, Jindal Steel & Power, Bhushan Power & Steel, etc.

Aditya Birla Money: The company has registered net profit at Rs 15.15 crore for the quarter ended December FY24, growing 73.6 percent over a year-ago period. Revenue from operations grew by 51.5 percent to Rs 101.3 crore during the same period.

Goodluck India: The company received board approval for the opening of qualified institution placement (QIP) issues on January 12. The floor price has been set at Rs. 989.40 per share.

Alkem Laboratories: The pharma company has reported a cyber security incident that compromised the business email IDs of certain employees at a subsidiary. The incident resulted in a fraudulent transfer of funds of approximately Rs 52 crore. The company has taken all necessary steps and filed necessary complaints with concerned governmental and regulatory authorities in this matter.

Hampton Sky Realty: The company has received all the approvals to start construction of the hospital project under the name of Hampton Narayana Superspeciality Hospital. The company is starting construction in the current week with a projected investment of Rs 200 crore.

Anant Raj: The company received approval from its Finance and Investment Committee for the opening of qualified institution placement (QIP) issues on January 12. The floor price has been set at Rs. 310.78 per share.

Vikas Lifecare: Subsidiary Genesis Gas Solutions has accomplished the incorporation of IGL Genesis Technologies, the joint venture company, with Indraprastha Gas (IGL). IGL holds a 51 percent stake, and Genesis Gas has a 49 percent stake in the joint venture company. Genesis Gas Solutions has completed the inducement of its share of the paid-up capital amounting to Rs 18.1 crore in the newly incorporated entity.

Sical Logistics: Promoter Pristine Malwa Logistics Park has sold 6 lakh shares (which is equivalent to 0.9 percent of paid-up equity) in the logistics firm at an average price of Rs 270.55 per share. However, Mumbai-based Negen Capital Services was the buyer in the block deal. The National Company Law Tribunal had approved the resolution plan submitted by Pristine Malwa Logistics Park for buying Sical Logistics in December 2022, and accordingly, the shares of Sical were allotted to Pristine Malwa Logistics in February 2023.

Gulshan Polyols: Vinod Chauhan has been appointed as Senior GM-Operations in the company, with effect from January 13.

Hazoor Multi Projects: Satya Narayan Tripathi is appointed as the Chief Financial Officer of the company with effect from January 15, after Dineshkumar Laxminarayan Agrawal resigned as CFO with effect from January 13.

eMudhra: The company received approval from the Fund Raising Committee for the opening of the qualified institution placement (QIP) issue on January 12. The floor price has been set at Rs. 443.56 per share. As per CNBC-TV18 quoting sources, the QIP issue size may be around Rs 200 crore.

Valiant Laboratories: Foreign portfolio investor Leading Light Fund VCC: The Triumph Fund sold 3.26 lakh equity shares, equivalent to 0.75 percent of paid-up equity in Valiant, at an average price of Rs 176.16 per share.

Ravinder Heights: Pune-based biotechnology company Serum Institute of India sold 3.75 lakh shares, which is equivalent to 0.61 percent of paid-up equity in the company at an average price of Rs 50.04 per share. Serum Institute held 7.34 percent of the company.