🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Garden Reach Shipbuilders (GRSE): Reported a strong Q4 performance with net profit rising 24.1% YoY to ₹303 crore and revenue up 29.1%. The board has also recommended a final dividend of ₹6.7 per share.
• Skipper: The company posted robust Q4 numbers with net profit surging 62.9% YoY to ₹78 crore, supported by a 29.4% growth in revenue.
• BHEL: Signed a significant transfer-of-technology agreement with DRDO’s NSTL unit to develop infra-red suppression systems for naval vessels.
• SEAMEC: Along with Supreme Hydro, the company has secured an operations and maintenance (O&M) contract from ONGC for the vessel 'Samudra Sevak' through 2028.
• PC Jeweller: Its subsidiary, PCJ Mining, has been granted a one-year gold-mining licence in Chad, marking a strategic international expansion.
• Refex Industries: In a major relief, the Madras High Court has set aside a tax demand of ₹36 crore previously levied on the company.
• RVNL: Received a new construction order valued at ₹39 crore from NMDC, continuing its steady order book momentum.
• Enviro Infra Engineers: Entered into an agreement to acquire a 51% controlling stake in Suyog Urja for ₹311 crore.

Neutral Developments

• Earnings Deluge: A massive roster of companies including Bajaj Finance, Adani Power, Vedanta, Waaree Energies, Federal Bank, Mphasis, and Indian Bank will report their Q4 results today.
• Vedanta: Today marks the critical "last day to buy" for investors to qualify for the benefits of the company's major demerger into multiple listed entities.
• Ratnaveer Precision: The board has approved a fundraising plan of up to ₹330 crore through various equity routes including QIP, rights issue, or FPO.
• Ujjivan Small Finance Bank: The board is set to meet to consider raising funds via QIP or other permissible modes to bolster its capital base.
• Citius Transnet Investment Trust: The units of the trust are scheduled to list on the exchanges today.

Negative News

• Sanofi India: Reported a weak Q4 with net profit declining 14.1% YoY to ₹103 crore and revenue dropping nearly 12%, though it recommended a high dividend of ₹48 per share.
• Piramal Pharma: Recognized a significant impairment loss of ₹176 crore related to intangible assets under development, leading to a negative PAT after exceptional items for the quarter.
• Greenply Industries: Announced the resignation of Manoj Tulsian from the position of Joint Managing Director and CEO.
• Cupid: Received a formal warning letter from SEBI regarding the failure to disclose the cancellation of a previous preferential issue.
• Solara Active Pharma Sciences: The US FDA concluded its inspection of the Puducherry facility with a 'VAI' classification but issued four procedural observations (Form 483).
• Kiri Industries: The company received warning letters from both BSE and NSE concerning delays in making material disclosures related to its DyStar stake sale.

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