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STOCK MARKET UPDATES 08/04/2024





*    South Indian Bank: The company appointed Vinod Francis as CFO with effect from April 8, 2024.

*    Titan: The company revenue rose by 17% YoY in the fourth quarter, with the jewelry business up 18%, the watches and wearables business up 6%, the eye care business down 1%, emerging businesses up 24%, and the Carat Lane business up 30%.

*    ZEE Entertainment Enterprise: MD and CEO Punit Goenka has proposed the implementation of a lean and streamlined management structure for the board.

*    Bandhan Bank: MD and CEO Chandra Ghosh will step down from the post after the completion of his current tenure.

*    Shyam Metalics: The company reported steel sales at 2.38 lakh tonnes, up 26.4% YoY for the end of March and long steel sales at 1.36 lakh tonnes, up 11.2% YoY, and steel sales at 6.87 lakh tonnes, up 6.5% QOQ for the end of the fourth quarter and long steel sales at 3.8 lakh tonnes, up 12% QOQ.

*    Nestle India: The board approved increasing royalty payments to its parent firm by 0.15% annually for the next five years, thereby enhancing them to 5.25% of net sales.

*    UCO Bank: The company appointed Sourav Kumar Dutta as its new chief technology officer on a contractual basis for 3 years.

*    Bank of Baroda: The company reported domestic deposits at 11.3 lakh crore, up 7.75% YoY as of March 31. Domestic advances stood at Rs 8.97 lakh crore, up 12.8% YoY; global deposits stood at Rs 13.3 lakh crore, up 10.2% YoY; and global advances stood at Rs 10.9 lakh crore, up 12.4% YoY.

*    Aurobindo Pharma: The USFDA inspected the company's unit from March 28 to April 5 and closed with three observations.

*    Adani Wilmar: The company witnessed double-digit growth in edible oils and foods at the end of the fourth quarter. Food and FMCG volume growth stood at 10% YoY, while edible oil was at 13%.

*    Punjab National Bank: The company reported total deposits stood at Rs 13.7 lakh crore, up 7% YoY as of March 31, total advances stood at Rs 9.86 lakh crore, up 11.5%, and total business stood at Rs 23.56 lakh crore, up 8.8%.

*    Greaves Cotton: The company's unit entered into an agreement with Tsuyo Manufacturing to advance its presence in the low-speed electric 3-wheeler vehicle segment and appointed K.Vijaya Kumar as Executive Director and CEO.
 
*    Indiamart Intermesh: The company reappointed Dinesh Chandra Agarwal as MD and CEO for 5 years, effective Jan. 8, 2025.

*    Utkarsh Small Finance Bank: The lender reported total deposits at Rs 17,473 crore, up 27.4% YoY, as of March 31 and its gross loan portfolio stood at Rs 18,299 crore, up 31%.

*    Bank of India: The bank reported domestic deposits at Rs 6.3 lakh crore, up 11% YoY; as of March 31, domestic advances stood at Rs 4.93 lakh crore, up 14%; global gross advances stood at Rs
5.86 lakh crore, up 13.6%; and global deposits stood at Rs 7.38 lakh crore, up 10.2%.

*    Mahindra EPC: The company received an order worth Rs 13.2 crore from the Office of the Assistant Engineer to supply micro-irrigation systems for 2,700 hectares.

*    Rites: The company signed an MoU with IIT Madras to collaborate on green energy projects in the field of transport and mobility.

*    Godrej Consumer: The company expects sales growth in the mid-single digits, driven largely by currency volatility, and underlying volume growth is expected to be in the double digits.

*    Union Bank of India: The company reported total deposits at Rs 12.2 lakh crore, up 9.3% YoY, as of March 31 and total business stood at 21.3 lakh crore, up 10.3%.

*    Dr. Reddy's Laboratories: The company and Bayer signed a marketing and distribution agreement for the second brand of Vericiguat in India.

*    Indiabulls Real Estate: The company approved raising Rs 3,910.9 crore in one or more tranches via preferential issue of shares. Investors include Utpal Seth, Blackstone, Poonawalla Finance, and Quant MF.

*    Landmark Cars: The company will incorporate a wholly-owned subsidiary, Landmark Premium Cars.

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