Stock Updates
🔸Coal India will diversify its operation by venturing into graphite mining, following an order from the Ministry of Mines granting a composite license for prospecting and mining purpose
🔸Kotak Mahindra Bank reported healthy performance with one-off gains of ₹2730 crore, from stake sale in general insurance.
🔸Nippon Life AMC reported robust set of numbers amid rising equities and gain in market share. AUM growth reported at 12% QoQ to ₹ 4.8 lakh crore, driven by growth in equity AUM (14% QoQ) and ETF (16% QoQ).
🔸Reliance Jio subscriber addition traction was healthy as the company added 7.9 million subs (vs. 10.9 mn in Q4) with healthy addition across wireless and wired broadband.
🔸 Ultratech Cement revenue increased by 1.9% YoY (-11.5% QoQ) to Rs 18069 crores.
Vedanta has been declared as preferred bidder for the Gollarahatti-Mallenahalli Nickel Chromium and PGE Block, on the highest final price offer of 15% in the state of Karnataka and the Genjana Nickel, Chromium and OGE block, on highest final price offer of 6.05% in the state of Bihar.
🔸JSW energy reported robust Q1FY25 results backed by strong generation growth. Net generation was up by 18% YoY at 790 crore units driven by higher generation at hydro and thermal plants and capacity addition in the wind segment.
🔸Zydus Lifesciences Limited has received final approval for its New Drug Application (NDA) from the USFDA to market Zituvimet.
🔸The Central Board of Direct Taxes (CBDT) signed a multi-year contract with Bharti Airtel, under which the latter will provide network and connectivity solutions for CBDT’s Taxnet-2.0 programme.
