Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton in Focus

Picture Source: Internet

After two consecutive days of losses, the domestic market will likely consolidate in Tuesday’s trading session. The SGX Nifty was up 28 points at 17,208 as of 7:45 am.

Globally, US markets were mixed overnight on the fallout of Silicon Valley Bank. The Dow Jones and S&P 500 fell 0.2%, and the Nasdaq Composite rose 0.4%.

Embassy Office Parks REIT: The company has committed over Rs 300 crore to green initiatives for its commercial projects. They recently launched the first phase of a 20-megawatt (MW) solar rooftop project designed to generate 30 million solar energy units.

PNB Housing Finance: The company received approval from Sebi to raise up to Rs 2,500 crore through a rights issue of shares. The company intends to use the net proceeds of the offering to increase its capital base.

Shriram Finance: Starting in April, the company aims to raise as much as $2.4 billion to fund growth for the next fiscal year. Management said the company aims to grow its assets under management (AUM) by 15% to around Rs 1.9 trillion to Rs 2 trillion by FY24.

Lupin: The US Food and Drug Administration (USFDA) completed inspections of Lupin’s bioresearch centre in Pune, India, and closed it without any observations. Lupin Bioresearch Centre conducts BA/BE, PK/PD, in vitro BE and biosimilar studies.

GAIL (India): The state-run company has declared an interim dividend for FY23 of 40% of paid-up share capital, or Rs 4 per share, with a record date of March 21, 2023. Based on the current shareholding, the dividend is Rs 1,355 crore, payable to the government, while shareholders will receive Rs 1,275 crore.

CreditAccess Grameen: NBFC major’s AUM crosses Rs 20,000 crore milestone. Management remains confident of 24-25% AUM growth, 4-4.2% return on assets and 16-18% return on equity in FY23. Additionally, they plan to open 34 more locations by March 31, 2023.

Axita Cotton: The company won contracts for Indian raw cotton totalling $2.72 million from Taraspinning Mills in Bangladesh and Khadiza Sadek Spinning Mills in Bangladesh.

Surya Roshni: The company has secured an order worth Rs 96.3 crore to supply HPCL’s 3LPE coated steel pipes for city gas distribution projects in Rajasthan, Bihar, Jharkhand and West Bengal.

Dhanlaxmi Fabrics: The management has decided to carry out a major structural renovation of its 30-year-old plant, technical upgrading and upgrading of its installation and plant and equipment located at the Dombivali unit, including installing the BOD and COD online meters.

Get Daily Prediction & Stocks Tips On Your Mobile