Pre Market Report: Dalal Street may open with small gains; HAL, PNB, Marico in news

Hindustan Aeronautics Ltd (HAL): The company handed over the first LCA Tejas twin seater to the Indian Air Force in the presence of Rakha Rajya Mantri, Ajay Bhatt, at a ceremony on Wednesday. Chief of Air Staff Air Chief Marshal VR Chaudhari said that IAF would be going forward to procure 97 more LCAs and with this it will have 220 LCAs in its inventory.

Punjab National Bank (PNB): The public sector lender witnessed 11.3% YoY rise in total business to Rs 22.5 lakh crore for the quarter ended September FY24. Deposits rose 9.7% YoY to Rs 13.08 lakh crore and CASA deposits grew by 2.6% YoY to Rs 5.4 lakh crore. Further, global gross advances increased 13.8% YoY to Rs 9.4 lakh crore and domestic advances increased by 13.9% YoY to Rs 9.08 lakh crore.

Marico: The FMCG major said domestic volumes grew in low-single digits on a yearly basis during the July-September quarter, with low single-digit volume growth in Parachute Coconut Oil and Saffola Edible Oils, and low single-digit value growth in Value Added Hair Oils. The International business delivered double-digit constant currency growth. Consolidated revenue was marginally lower YoY, dragged by pricing corrections in key domestic portfolios over the last 12 months, which will progressively come into the base going ahead.

L&T Finance Holdings: The company announced that the retailisation of the portfolio is estimated at 88% at end of Q2FY24, as against 58% during the same period last year. Retail disbursements for Q2FY24 is estimated at Rs 13,490 crore, a growth of 32% YoY and retail loan book at the end of Q2FY24 is estimated at Rs 69,400 crore, a growth of 33% YoY.

Hero MotoCorp: The two-wheeler manufacturer has received 13,688 bookings for its newly launched Karizma XMR. Dispatches to dealerships have already started, and customer deliveries will begin in the festive period this month. The new Karizma XMR will now be available at Rs 1,79,900 (ex-showroom Delhi).

Jammu & Kashmir Bank: The lender has reported total business at Rs 2,18,269 crore for the quarter ended September FY24, growing 12.03 percent over a year-ago period, with total deposits rising 9.4 percent YoY to Rs 1,26,589 crore and gross advances increasing 15.88 percent YoY to Rs 91,680 crore. CASA deposits rose 1.24 percent YoY to Rs 64,068 crore.

Indian Energy Exchange: The energy exchange has recorded a 13% YoY growth in total electricity volume for September at 9,147 million units. Real time market volume in September grew by 33% YoY to 2,923 million units, and the market clearing price for the month was up 11% YoY at Rs 6.23 per unit.

ACC: The cement maker incorporated two new wholly-owned subsidiaries, ACC Concrete South and ACC Concrete West. The authorised capital for the two new subsidiaries is Rs 1 lakh each.

Bandhan Bank: The private sector lender said that its loans & advances stood at Rs 1.07 lakh crore for quarter ended September FY24, up 12.3% YoY, and total deposits grew by 12.8% YoY to Rs 1.12 lakh crore. CASA deposits increased by 6.5% YoY to Rs 43,161 crore, while retail deposits rose by 12.6% YoY to Rs 82,977 crore.

Exide Industries: The company announced that it will invest Rs 340 crore in its subsidiary, Exide Energy Solutions, via equity subscription.

JM Financial: The company said that Manish Sheth stepped down as CFO with effect from September 30, on account of being appointed as MD and CEO of JM Financial Home Loans.

RBL Bank: The private sector lender reported total deposits of Rs 89,774 crore for the quarter ended September FY24, up 13% YoY. CASA for the July-September quarter increased by 12% YoY to Rs 32,075 crore. Gross advances grew by 21% YoY to Rs 78,186 crore during Q2FY24.

HealthCare Global Enterprises: The company announced the strategic acquisition of SRJ CBCC Cancer Hospital in Indore. HCG also plans to expand by adding 100 beds and a cancer diagnostic and treatment facility within two years. With this, HCG has 21 comprehensive cancer centres with 24 hospitals across India and Africa, and eight Daycare centres.

Nazara Technologies: Singapore subsidiary of NODWIN Gaming, a subsidiary of Nazara Technologies, has acquired a 100% stake in the game marketing agency, PublishME, for $2 million from its existing shareholders Nazara Technologies, and Ozgur Ozalp.

Strides Pharma: The drugmaker has received the USFDA approval for Efavirenz, Emtricitabine, and Tenofovir Disoproxil Fumurate tablets, which are used in HIV treatment.

Asian Energy Services: The company has appointed Gaurav Srivastava as the Chief Operating Officer. Srivastava has two decades of experience in operations, field services, drilling, and business development at Schlumberger in India, the USA, Australia, Malaysia, and Sudan.

Axita Cotton: The company’s board have reappointed Nitinbhai Govindbhai Patel as the CMD of the company with effect from October 1, 2023. Kushal Nitinbhai Patel is appointed as a Non-Executive Director, and Utsav Himanshu Trivedi is appointed as an Independent Director of the company.

Axiscades Technologies: The company’s board has approved the appointment of Abidali Neemuchwala as the Chairman of the company with effect from October 4. He will also be appointed as an Additional Director, in the category of Non- Executive, Non-Independent Director on the board.