Share Market News

Man Industries' board has approved raising Rs 300 crore through various equity instruments. The company also appointed Sandeep Kumar as the new CFO, effective January 18, 2025.

IndusInd Bank's CFO Gobind Jain has resigned to pursue other opportunities. He will serve a 90-day notice period until April 17. Arun Khurana, the current deputy CEO, will assume additional charge as CFO from January 21.

RBL Bank's Q3 FY2024-25 net profit dropped to ₹47 crore from ₹245 crore year-over-year, primarily due to issues in its microfinance portfolio. Slippages in the MFI book increased to ₹535 crore. The bank's NIM declined to 4.90% from 5.52% last year. Management expects normalization in MFI business and NIMs within two quarters.

Vinir Engineering Ltd, an integrated engineering solutions company, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering. The IPO will consist of an offer-for-sale of up to 53.3 million equity shares with a face value of ₹2 each, to be entirely undertaken by the promoter selling shareholder, Nitesh Gupta.

Laxmi Dental Limited's IPO is scheduled to list on the stock market on Monday, January 17. The IPO was subscribed 114.42 times across all investor segments. The grey market premium indicates a potential listing price of ₹565, suggesting a 32.01% premium over the upper price band of ₹428.

Kotak Mahindra Bank CEO Ashok Vaswani states that the overall impact of RBI's business restrictions remains at the estimated Rs 450 crore annually, despite some variations in individual assumptions. The bank has made significant progress on IT improvements and is regularly updating the RBI on developments.

Vinir Engineering Ltd has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering. The IPO will consist of an offer-for-sale of up to 53.3 million equity shares with a face value of Rs 2 each. The entire OFS will be undertaken by the promoter selling shareholder, Nitesh Gupta. Pantomath Capital Advisors Private Ltd is the Book Running Lead Manager, and KFIN Technologies Ltd will act as the Registrar.

CAN FIN HOMES has reported its Q3 financial results. The company's net profit increased to 2.12 billion rupees, up from 2 billion rupees in the same quarter last year. Additionally, the interest income rose to 9.8 billion rupees from 9 billion rupees year-over-year.

Chennai Petroleum Corporation Limited has reported a significant improvement in its financial performance for the third quarter. The company posted a net profit of 105 million rupees, compared to a loss of 6.3 billion rupees in the previous quarter. Revenue also increased to 156 billion rupees from 144 billion rupees quarter-over-quarter.

Aris Infra Solutions Limited has announced its IPO price band of ₹200 to ₹210 per share. The IPO will open for public bidding from February 3 to February 5, with a lot size of 70 shares. The company plans to issue 2.86 crore fresh equity shares to raise ₹600 crore. The funds will be used for debt repayment, working capital needs, and general corporate purposes. The shares are expected to be listed on BSE and NSE on February 10.

Denta Water and Infra Solutions is set to open its Initial Public Offering (IPO) from January 22 to January 24. The company aims to raise funds through a fresh issue of up to 75,00,000 equity shares. The price band for the IPO is set at Rs 279 to Rs 294 per share, with a minimum lot size of 50 shares. The proceeds will be used for working capital requirements and general corporate purposes.

Hitachi Energy has announced plans to raise funds totaling 4,200 crore rupees (approximately $505 million) through a Qualified Institutional Placement (QIP). This fundraising method allows listed companies to issue equity shares, fully and partly convertible debentures, or other securities to qualified institutional buyers.

Sigachi Industries has reported a significant increase in its Q3 EBITDA, rising to 332 million rupees from 226 million rupees in the same quarter last year. The company's EBITDA margin also improved, reaching 23.79% compared to 20.36% in the previous year's corresponding quarter. This performance indicates substantial year-over-year growth in both absolute EBITDA and profitability margins for the company.

Kalyan Jewellers stock has declined 37% YTD but may see a potential upside if the Indian government increases customs duty on gold in the upcoming Budget 2025. Experts advise shareholders to hold with a stop loss at ₹480, anticipating a possible rebound to ₹595 per share. The government is reviewing customs duties on various items, including gold, which could affect the jewellery sector.

Sigachi Industries has announced its Q3 financial results, showing significant year-over-year growth. The company's consolidated net profit increased to 213.5 million rupees, up from 160 million rupees in the same quarter last year. Revenue also saw a substantial rise, reaching 1.4 billion rupees compared to 1.1 billion rupees in the previous year's Q3.

Shiva Texyarn has received an order worth 9 crore rupees from the Indian Air Force. This significant contract demonstrates the company's ability to secure high-value deals with prestigious clients in the defense sector.

Control Print has declared a dividend of 4 rupees per share for its shareholders. This corporate action represents a distribution of the company's profits to its investors.

Control Print has reported a decrease in its third quarter financial performance. The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) fell to 173 million rupees from 218 million rupees in the same quarter of the previous year. Additionally, the EBITDA margin declined to 16.73% from 24.63% year-over-year.

Control Print, an Indian company, has reported its Q3 financial results. The consolidated net profit decreased to 83 million rupees from 134 million rupees in the same quarter last year. However, revenue increased to 1.03 billion rupees from 886 million rupees year-over-year.

Glenmark Life Sciences has announced a rebranding initiative, changing its name to Alivus Life Sciences. This corporate action represents a significant change in the company's identity and potentially its strategic direction.

Stallion India Fluorochemicals Limited's IPO bidding is open from January 16 to 20, 2025. The company aims to raise ₹199.45 crore through a mix of fresh shares and OFS. The price band is set at ₹85 to ₹90 per equity share. After two days of bidding, the issue has been subscribed 32.12 times overall, with the NII segment seeing 77.08 times subscription.

ASK Automotive has introduced the AISIN ASK product range at the Bharat Mobility Global Expo 2025. This launch represents a significant corporate action, showcasing the company's expansion into new product lines and potentially strengthening its market position in the automotive sector.

TD Power Systems has won a significant order worth 570 million rupees from the Nuclear Power Corporation of India (NPCIL) for the supply of induction motors. This order represents a substantial business opportunity for the company in the nuclear power sector.

Zydus Lifesciences has received approval from the U.S. Food and Drug Administration (FDA) to conduct a Phase II(b) clinical trial for USNOFLAST, a novel oral NLRP3 inflammasome inhibitor. The trial will involve patients with Amyotrophic Lateral Sclerosis (ALS), a progressive neurodegenerative disease. This approval marks a significant step in the company's drug development process for ALS treatment.

Kotak Mahindra Bank has released its Non-Performing Asset (NPA) figures for the third quarter. The Gross Non-Performing Asset (GNPA) ratio slightly increased to 1.50% from 1.49% in the previous quarter. However, the Net Non-Performing Asset (NPA) ratio decreased to 0.41% from 0.43% quarter-over-quarter.

Kotak Mahindra Bank reported a 10% year-over-year increase in Q3 net profit to Rs 3,305 crore. Interest income jumped 14% to Rs 13,427.58 crore. However, profit decreased 1.2% sequentially from Q2.

RBL Bank announced its Q3 financial results, showing a significant decrease in net profit to 326 million rupees from 2.3 billion rupees year-over-year. Interest income increased to 35 billion rupees from 32 billion rupees. Provisions rose to 11.8 billion rupees from 6.18 billion rupees. The bank's Gross Non-Performing Assets (GNPA) slightly increased to 2.92% from 2.88%, while Net Non-Performing Assets (NPA) decreased to 0.53% from 0.79%.

Sebi has settled adjudication proceedings against several Paytm executives and independent directors for alleged violations of securities laws. The case involved breaches of LODR and ICDR regulations. Executives agreed to pay settlement amounts ranging from ₹11.05 lakhs to ₹53.62 lakhs without admitting or denying violations. The settlement closes the proceedings, but Sebi retains the right to revisit if discrepancies arise.

Gokaldas Exports' MD Sivaramakrishnan Ganapathi states that the recent weakening of the rupee will help reduce manufacturing costs and offset past cost increases. While immediate benefits won't be seen due to hedging, the company expects long-term advantages in competitiveness and margin accretion.

Havells India's CMD Anil Rai Gupta expects margins to normalize soon after Q3 FY24 contraction. Switchgear and ECD segments faced temporary challenges. FY26 outlook remains positive for sales and margins. Industrial infrastructure demand continues to be strong.

Epack Durable's components business is expected to contribute 8-10% of total revenues in 2-3 years, up from 3% in FY24. CEO Ajay DD Singhania anticipates significant growth in this high-margin segment. The company has begun supplying components like cross-flow fans to other manufacturers. By FY27-28, Epack aims for a revenue mix of 60-65% from AC business, 10-15% from large home appliances, and the balance from small domestic appliances and components.

Gland Pharma has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA), indicating the closure of a recent inspection. This suggests that the FDA has completed its review and found no significant issues requiring further action at the inspected facility.

TVS Motor Company and Hyundai Motor Company are exploring a potential partnership to innovate in the field of last mile mobility solutions. This collaboration aims to combine the strengths of both companies to develop new and improved transportation options for short-distance travel, potentially revolutionizing urban mobility.

AVANTEL has announced its Q3 consolidated financial results, showing significant year-over-year growth. The company's net profit increased to 201 million rupees from 163 million rupees in the same quarter last year. Revenue also saw a substantial rise, reaching 707 million rupees compared to 593 million rupees in the previous year's Q3.

Ashok Leyland introduced the entry-level Light Commercial Vehicle 'Saathi' priced at Rs 6.49 lakh, and GARUD 15, a 15-meter premium bus with 42 sleeper berths, at the Bharat Mobility Global Expo. The company also displayed India's first electric port terminal tractor, eTIRAN.

Gland Pharma received an establishment inspection report from the US FDA, confirming the closure of a good manufacturing practices inspection at their Pashamylaram facility in Hyderabad. The inspection, conducted from July 25, 2025, to August 2, 2024, concluded with three observations, which were neither repeated nor related to data integrity.

The Indian government is contemplating a significant relief measure for telecom companies by potentially waiving 50% of interest and 100% of penalties on Adjusted Gross Revenue (AGR) dues. This move could provide relief exceeding 1 lakh crore rupees to the telecom sector.

The Indian government is contemplating a substantial relief package for telecom companies by potentially waiving 50% of the interest and 100% of the penalties on Adjusted Gross Revenue (AGR) dues. This move could provide relief exceeding 1 lakh crore rupees to the telecom sector, with Vodafone Idea being a notable beneficiary.

IREDA has scheduled a board meeting on January 23, 2025, to consider raising funds through a Qualified Institutions Placement (QIP). The company will also discuss issuing an EGM notice to seek shareholder approval for the fundraising. Trading window for IREDA securities will be closed from January 18, 2025, until 48 hours after the board meeting concludes.

Steel Strips Wheels reported Q3 FY25 results with profit falling 19.69% YoY to ₹47.71 crore. Revenue decreased 3.21% YoY to ₹1074.68 crore. Operating income down 4.01% YoY. EPS at ₹3.04, down 19.79% YoY. Analysts maintain Strong Buy recommendation.

Jio Financial Services reported Q3 FY25 results with a 0.33% YoY profit increase to ₹294.78 crore, despite a 20.42% YoY revenue decline to ₹246.99 crore. QoQ performance showed steeper drops with revenue down 49.24% and profit falling 57.22%. EPS rose 4.35% YoY to ₹0.48. Operating income decreased 65.86% QoQ and 45.01% YoY, while SG&A expenses increased 58.07% YoY.

Shekhawati Industries reported Q3 FY25 results with profit falling 36.02% YoY to ₹1.51 crore, while revenue increased 16.63% YoY to ₹15.29 crore. Compared to Q2, revenue declined 14.44% and profit decreased 41.02%. EPS stood at ₹0.44, down 37.14% YoY.

Kesoram Industries reported Q3 FY25 results with a loss of ₹69.17 crore, up 40.65% YoY. Revenue decreased by 1.39% to ₹65.49 crore. Operating income improved by 29.22% QoQ and 16.8% YoY. EPS declined to ₹-0.59, down 37.21% YoY. Market cap stands at ₹6348.1 crore.

Ramkrishna Forgings reported Q3 FY25 results with profit at ₹99.61 crore, up 14.68% YoY. Revenue increased by 7.85% YoY to ₹1073.78 crore. EPS rose 12.68% to ₹5.51. Quarter-on-quarter, revenue grew 1.91% but profit declined 47.51%. Operating income increased 10.19% YoY despite a 2.73% q-o-q decrease.