The Nifty January 50 futures contract on the Singapore Exchange points to a negative open for domestic stocks on Tuesday. The contract was trading at 18,196.50, down 26.5 points, down 0.15% from the previous close.
Dabur India: The proposed acquisition of a 51% stake in Badshah Masala was completed on Monday. Badshah Masala has become a subsidiary of the company.
Zomato: Gunjan Patidar, the co-founder and chief technology officer has stepped down. Patidar was part of Zomato’s original founding team. His departure is the latest in a string of high-profile layoffs in recent times.
Reliance Industries, ONGC: The central government raised windfall taxes on petroleum, crude oil and aviation turbine fuel late Monday. It raised the crude oil windfall tax from Rs 1,700 ($20.55) from Rs 2,100 ($25.38) per tonne on Tuesday.
Meanwhile, ONGC ‘Sagar Samrat’ has started oil and gas production in the Arabian Sea.
State Bank of India: The lender’s board will meet to consider and approve the raising of infrastructure bonds.
IRCTC: India’s railways recorded a 71 percent increase in passenger segment revenues between April and December, a statement from the Ministry of Railways said on Monday. Revenue during the period was Rs 48,913 crore versus Rs 28,569 crore last year.
Zee Entertainment: An operating creditor has filed a Rs 211-crore insolvency case against Zee Entertainment Enterprises (Zee), the media company that was listed on the exchanges on Monday. The company said it would file its response to reject the claim on the grounds that there was a pre-existing dispute between the parties over the amount claimed.
Maruti Suzuki: India’s largest domestic automaker recorded a 16.5 percent year-on-year decline in passenger car production volume in December 2022. Total production, including light commercial vehicles, fell by 18 percent. The company said a shortage of electronic components had some impact on vehicle production during the month, even as it took all possible measures to minimize the impact.
M&M Financial Services: The non-bank finance company disbursed loans worth about Rs 4,650 crore in December 2022, yielding 67 percent year-on-year growth. The Q3 payouts of about Rs 14,450 crore registered an 80 percent year-on-year growth, while the YTD payout (Rs 35,750 crore) registered a 95 percent year-on-year growth. The Collection Efficiency (CE) was 98 percent for December 2022.
Birlasoft: Chandrasekar Thyagarajan – Chief Financial Officer of the company, has tendered his resignation due to personal reasons and will be relieved from his position on February 2, 2023.
L&T: CEO & MD of Larsen & Toubro, SN Subrahmanyan, has warned that the world should brace for a challenging year in 2023 due to the latest wave of Covid-19 cases in several countries. While he praised the government’s proactive approach to infrastructure, rising prices of oil, gas and other commodities remained a concern as supply chains were disrupted by the war between Russia and Ukraine.
PTC India: Power trading solutions provider PTC India said on Monday that its shareholders have approved a final dividend of Rs 5.80 per share of shares for 2021-22. This final dividend is in addition to the interim dividend of Rs 2 per share, a company statement said.
Karnataka Bank: Total lender deposits increased by about 8 percent yoy to Rs 84,592.6 crore at the end of December 2022 vs Rs 78,424.86 crore in December 2021. The CASA climbed at 9.9 percent yoy while gross advances rose by 12.3 per cent on an annual basis to Rs 63,658.59 crore.
Safari Industries: Safari Manufacturing Limited, the wholly owned subsidiary of the company, successfully commenced additional commercial production/manufacturing of luggage at its plant in Halol, Gujarat on Monday.
Consumer durables: Refrigerator prices are likely to increase by up to 5 percent as revised standards from the Bureau of Energy Efficiency (BEE) go into effect January 1 this year.
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