Pre Market Report: Dalal Street likely to open negative; Jubilant FoodWorks, Just dial, TV18 Broadcast in focus

Jubilant FoodWorks: Coca-Cola India has acquired 15 percent equity stake in Hashtag Loyalty, the associate company of Jubilant Foodworks, for Rs 104.68 crore. Hashtag Loyalty has entered into a Securities Subscription Agreement with Coca-Cola India. Subsequently, Jubilant’s stake in Hashtag has reduced from 35% to 29.75%.

Just Dial: The company’s consolidated revenue was up 5% QoQ at Rs 232.5 crore and consolidated net profit rose 11% QoQ to Rs 83.6 crore in Q4FY23. Ebitda rose by 36% QoQ to Rs 33.2 crore in the reported quarter. Ebitda margin stood at 14.2% in Q4FY23 compared with 11% in the prior quarter.

TV18 Broadcast: The media company said its consolidated revenue fell 6.03% YoY to Rs 1,405.90 crore in Q4FY23. Ebitda down was down 69.62% to Rs 77.16 crore in Q4FY23. Ebitda margin was at 5.48% in Q4FY23 compared with 16.97% in the year-ago period. Net Profit was down 75.49% to Rs 35.19 crore in the reported quarter.

Samvardhana Motherson International: The company’s board has approved the acquisition of additional 30% stake in Youngshin Motherson Auto Tech (YMAT) from Youngshin Components Co Ltd, Korea. With this transaction, the company will hold 80% of equity share capital of YMAT and accordingly YMAT will become subsidiary of the company.

Network18 Media Investments: The company’s revenue fell 8.5% YoY to Rs 1,484 crore in Q4FY23. Ebitda fell 78.5% YoY to Rs 57.19 crore in Q4FY23. Ebitda margin stood at 3.85% in Q4FY23 as against 16.4% in the year-ago period. It reported a net loss of Rs 36.78 crore in the reported quarter as against a net profit of Rs 61.85 crore in the year-ago period.

Angel One: The brokerage services firm said its consolidated revenue rose 21.29% YoY to Rs 825.74 crore in Q4FY23 and net profit jumped 30.4% YoY to  Rs 266.91 crore in Q4FY23. Ebitda climbed 29.89% YoY to Rs 384.97 crore in the reported quarter. Ebitda margin stood at 46.62% in the reported quarter as against 43.53% in the eyar-ago period. The board approved final dividend of Rs 4 per share for the 2023 fiscal.

Hathway Cable and Datacom: The company’s consolidated revenues was up 2.41% YoY to Rs 459.59 crore in Q4FY23. It reported a net loss of Rs 14.62 crore in Q4FY23 as against a net profit of Rs 28.35 crore in the year-ago period. Ebitda fell 31.86% to Rs 63.1 crore in Q4FY23. Ebitda margins came in at 13.73% in Q4FY23 as against 20.64% in the year-ago period. The board appointed Tavinderjit Singh Panesar as CEO of the company, effective April 18, 2023.

3i Infotech: The company has received a Letter of Acceptance from Indian Oil Corporation, for managed services contract. This is a part of contract renewal in the new financial year. The total contract value is Rs 16.29 crore for a period of 3 years.

Quick Heal Technologies: The company announced that Navin Sharma has resigned as the Chief Financial Officer, effective from April 18. The board has also approved the appointment of Ankit Maheshwari as Chief Financial Officer of the company with effect from April 26.

Kolte-Patil Developers: The board of directors of the company has given approval for the allotment of 20,650 non-convertible debentures to Marubeni Corporation, Japan for Rs 206.50 crore. The funds raised from this issuance will be utilised towards general corporate purposes of the company.

Bank of Maharashtra: The bank hiked lending rates for tenors across the board by 10 basis points, with effect from April 15, 2023.

Subex: Vinod Kumar Padmanabhan has requested an early retirement from the office of managing director and chief executive officer. He will step down from the post at close of business hours on May 1, 2023. Nisha Dutta will occupy the position of chief executive officer for one year, effective May 2, 2023.

IIFL Finance: The company will consider a proposal to raise funds via non-convertible debentures through private placement, as well as the financial results for three months and year ended March 2023.

lndo Rama Synthetics (India): The company said that its operation have been partially affected due to temporary stoppage of production, in view of a strike announced by one of the Contract Labour Union.

Avalon Technologies: The electronic manufacturing services company will make its debut on the bourses on April 18. The issue price has been fixed at Rs 436 per share.