Here are the companies making headlines before the opening bell today, on April 4, 2024:
- Vodafone Idea: The telecom operator announced that its board of directors will meet on April 6 to discuss the potential issuance of equity or convertible securities to one or more promoter group entities for Rs 2,075 crore.
- Vedanta: Aluminium producer Vedanta Aluminium has expanded its alumina refining capacity to 3.5 million metric tonnes per year (MTPA) by commissioning a 1.5 MTPA capacity alumina refinery in Lanjigarh, Odisha, part of its new 3 MTPA facility, increasing the overall nameplate capacity at the Lanjigarh refinery to 5 MTPA.
- HCL Infosystems: The company has received a final arbitration award in its arbitration against the Government of the National Capital Territory of Delhi (GNCTD) for the recovery of dues related to setting up and maintaining a wireless secured communications network (TETRA), amounting to Rs 4.5 crore, along with interest at 8 percent per annum. The counterclaims worth Rs 163 crore filed by GNCTD have been disallowed.
- Avenue Supermarts: The D-Mart operator reported standalone revenue of Rs 12,393.46 crore for the quarter ended March FY24, up 19.9 percent from the year-ago period, with the total number of stores reaching 365.
- Sun Pharmaceutical Industries: Dheeraj Sinha has been appointed as Executive Vice President and Chief Information Officer, effective from April 3, replacing Anil Rao, who resigned due to personal reasons.
- Poonawalla Fincorp: The non-banking finance company reported its highest-ever disbursements during Q4 FY24 at Rs 9,680 crore, up 52 percent YoY and 11 percent QoQ, with assets under management reaching Rs 24,800 crore as of March 2024.
- Indiabulls Housing Finance: The housing finance company raised $350 million through the allotment of senior secured social bonds due in 2027.
- L&T Finance Holdings: The retail loan book at the end of Q4FY24 is estimated at around Rs 80,010 crore, growing 31 percent over the year-ago period, with retailization of the portfolio reaching around 94 percent.
- KEC International: The infrastructure EPC major received new orders worth Rs 816 crore across its various businesses.
- Federal Bank: Gross advances grew by 20 percent to Rs 2,12,758 crore in the March FY24 quarter, with retail credit book growing by 25 percent and wholesale credit book rising by 15 percent.
- Suryoday Small Finance Bank: Advances reached Rs 8,650 crore for the quarter ended March FY24, growing 14 percent over the previous quarter and 41 percent over the year-ago period, with deposits growing by 20 percent QoQ and 50 percent YoY to Rs 7,775 crore.
- RBL Bank: Deposits stood at Rs 1,03,454 crore for the quarter ended March FY24, growing 22 percent YoY, while advances reached Rs 85,640 crore, increasing 19 percent YoY.
- Union Bank of India: The bank’s DIFC Dubai branch arranged for a syndicated term loan of $500 million.
- Edelweiss Financial Services: Foreign investor CLSA Global Markets Pte Ltd. acquired equity shares in the company via open market transactions.
- Som Distilleries and Breweries: The company approved a stock split, subdividing its existing equity shares to increase participation of retail investors and enhance share liquidity.
- GMR Power and Urban Infra: The company formed a joint venture company, Portus Ventures, with Shree Naman Developers to operate at the Mumbai International Airport site.
- Aurionpro Solutions: The company launched its qualified institution placement (QIP) issue with a floor price set at Rs 2,103.68 per share.
- Royal Orchid Hotels: Subsidiary Royal Orchid Mumbai signed an agreement with Masa Hotels to operate Hotel Masa.
- Brigade Enterprises: The real estate developer signed a joint development agreement with United Oxygen Company to develop a ‘Grade A’ office space in East Bengaluru.
- Trust Fintech: The company is set to list its equity shares on the NSE Emerge on April 4, with the final issue price fixed at Rs. 101 per share.
- GE Power India: The company secured contracts worth Rs 775 crore from Jaiprakash Power Ventures.
- Gufic Biosciences: The company incorporated a wholly owned subsidiary, Veira Life FZE, in Dubai, UAE.
- Punjab & Sind Bank: Arnab Goswamy has been appointed as Chief Financial Officer (CFO) of the bank, effective from April 3.
