Actions to watch
First source: Has published its annual report. The company ended fiscal 21 with operating income up 24% to Rs 5,078 crore. Operating margins reached 11.8 and profit after tax was 361.7 crore rupees. President Sanjiv Goenka said fiscal 2021 has created a “solid base” for sustained progress and that forecasts for the coming year include a significant recovery in the healthcare sector as well as sustained growth in healthcare. banking and communications, media and technology sectors.
Bandhan Bank: Advances increase 8% yoy to Rs 80,130 crore as of June 30, total deposits increase 28% yoy to Rs 77,340 crore
Indian oil company: The Paradip refinery affected by glitches, partial closure planned
Tata Engines: To consider issuing Rs 500 crore bonds on July 20
Pidilite: Appointed Sudhanshu Vats as Deputy General Manager.
Reliance Industries, Justdial: clarified that he would not comment on Justdial’s acquisition reports. “The company is constantly evaluating various opportunities,” said RIL.
Xelpmoc design and technology: Issue of 7.2 lakh shares for a sum of Rs 27 crore to Newport Asia Advisors Fund, Newport Asia Growth & Income Fund, Newport Asia Institutional Fund and Newport Asia Partners Fund
NMDC: Proposed to offer up to 89 lakh shares to eligible employees of the company at a price of Rs 165.50 per share in a sale offer from July 16 to July 18.
BEML: Incorporation of a wholly owned subsidiary named BEML Land Assets Limited on the basis of the agreement given by the Ministry of Defense, the Department of Investment and Public Asset Management and NITI Aayog for the land split Company surpluses and assets as part of the government’s strategic divestment process.
Havells India: CARE Ratings reaffirmed the AAA rating of the company’s long-term banking facilities. It reaffirmed the A1 + rating of its short-term banking facilities and commercial paper.
Mindspace Business Parks REIT: Crisil assigned the following ratings to the bank’s instruments:
Long-term capital protected market debentures up to Rs 500 crore: AAAr / Stable 2
Long term capital protected market linked debentures up to Rs 375 crore: AAAr / Stable 3
Non-convertible debentures up to Rs 200 crore: AAA / Stable
Non-convertible debentures up to Rs 300 crore: AAA / Stable
Business credit rating: AAA / Stable
Commercial papers up to Rs. 250 crore: A1 +
Power of trust: Preferential allocation of 59.5 crore of shares and 73 crore of warrants at a value of Rs 10 per share convertible into an equivalent number of shares to the promoter Reliance Infrastructure.
Gati: Transferred its 69.79% stake in Gati Kausar to Mandala Capital on July 14, 2021. With this, Gati Kausar ceased to be the subsidiary of the company and the company is also expected to have reduced its debt at the consolidated level of around Rs 105 crore.
Sona Comstar: Partnership with IRP Nexus Group in Israel, a leading provider of advanced electric powertrain solutions for electric mobility and iCreate (International Center for Entrepreneurship and Technology) to invent a new powertrain, manufacture it and market it at worldwide.
UPL: Has published its annual report. FY21 ended with revenues up 8% year-on-year to Rs 38,694 crore and profits up 32% to Rs 3,692 crore. Global CEO Jai Shroff said the growth and Company margins are more satisfactory because they were achieved in an environment which presented the additional challenges of high inflation and currency fluctuations which had a negative impact on us. “We were able to strengthen our EBITDA margin by 130 basis points, reflecting our growing contribution from value-added products and cost synergies resulting from the Arysta acquisition,” he said.
Benefits to watch: Den Networks, GNA Axles, HDFC Asset Management Company, Justdial, L&T Financial Holdings