🇮🇳 India Daybook: Kotak-South Indian Bank Deal Gets RBI Nod; Britannia Profit Surges 22%

📍 ACQUISITION

• Kotak Mahindra Bank: The Reserve Bank of India has granted approval for the bank to acquire an aggregate holding of up to 9.99% of the paid-up share capital or voting rights in South Indian Bank.
• South Indian Bank: Shares will be in the spotlight as the bank receives a strategic investment boost from Kotak Mahindra Bank following the regulatory clearance.

📍 EARNINGS

• Britannia Industries: The FMCG giant reported a 22% year-on-year rise in consolidated net profit to ₹680 crore for the March quarter, driven by resilient domestic demand for snacks and biscuits.
• Kennametal India: The company’s quarterly net profit doubled to ₹51 crore, while revenue jumped 39% to ₹403 crore, supported by strong volume expansion in hard metal products.
• Craftsman Automation: Reported a standalone profit of ₹221 crore for FY26, up from ₹94 crore in the previous year; the board has also recommended a final dividend of ₹5 per share.

📍 BLOCK DEAL

• Lenskart: The company is expected to see heavy activity following reports of a $350 million block deal. Existing investors, including TR Capital and Birdseye View, are reportedly looking to sell approximately 7.02 crore shares at a 3.6% discount.

📍 ORDER WIN

• Oswal Pumps: The company has officially secured a significant new contract for the supply of solar pumps, further strengthening its order book for the new fiscal year.

📍 DIVIDEND

• Ramkrishna Forgings: The stock will trade ex-dividend today for its interim dividend of ₹1 per share.
• Ex-Dividend Watch: Several companies, including Premier Energies and Somany Ceramics, hit their ex-date or record date today, making them key focus areas for yield-seeking investors.

📍 REGULATORY & OTHERS

• Aurobindo Pharma: The company provided a general update regarding the classification of its Unit-VII facility following recent regulatory interactions.
• Himatsingka Seide: The Income Tax Appellate Tribunal (ITAT) ruled in favor of the company, deleting tax additions worth ₹6.9 crore related to long-standing transfer pricing adjustments.

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