🇮🇳 India Daybook: Voltas Q1 Profit Surges 52%, ONGC Bags US License for Venezuela

📍 QUARTERLY RESULTS

• Voltas: Reported a robust 52% surge in Q1 net profit, driven by record-breaking demand for cooling products during the summer season.
• Reliance Infrastructure: The company posted a stellar 520% YoY jump in net profit, marking a significant operational turnaround.
• Cochin Shipyard: Consolidated net profit declined by 19% YoY to ₹151.5 crore, missing street estimates due to higher execution costs.
• Ashok Leyland: Reported a steady 2.6% rise in Q1 profit, supported by resilient demand in the heavy commercial vehicle segment.
• Kingfa Science & Technology: Net profit surged by 111% YoY, reflecting strong margin expansion.
• Schneider Electric Infrastructure: Reported a sharp 70% decline in profit for the June quarter, primarily due to rising input costs.
• Amber Enterprises: The stock will be in focus after missing statutory earnings estimates by 80% for the first quarter.

📍 ORDER WIN & PROJECTS

• Vedanta: The mining major has successfully secured the Punnam manganese block in the latest round of government auctions.
• Lodha Developers (Macrotech): Announced an aggressive expansion plan to launch 21 new projects with a total estimated sale value of ₹24,000 crore.

📍 STRATEGIC PARTNERSHIP

• Reliance Industries: Partnered with Rolls-Royce to co-develop and manufacture high-thrust engines for India's Advanced Medium Combat Aircraft (AMCA) program.
• Hindustan Aeronautics (HAL): Signed strategic agreements with Adani Defence and BEML to enhance domestic production of defense hardware and aerospace components.

📍 REGULATORY UPDATE

• ONGC: The company has received a specific license from the US Treasury to operate in Venezuela, clearing the path for the state-run explorer to resume oil production and lift crude to recover past dues.

📍 FUNDRAISING

• Indian Bank: The board has approved a proposal to raise $400 million through External Commercial Borrowings (ECB) to fund overseas business growth.
• Ather Energy: Shareholders have approved a ₹1,200 crore rights issue to strengthen the electric two-wheeler maker's balance sheet ahead of its planned IPO.
• Dixon Technologies: The company has issued a corporate guarantee worth $220 million to support the credit facilities of its subsidiary.

📍 CORPORATE ACTION

• Bizotic Commercial: Shares will trade ex-bonus today following the company's 5:1 bonus issue announcement.
• SKF India: Trading ex-dividend today for an interim dividend of ₹20 per share.
• Bandhan Bank: The stock goes ex-dividend today for a final dividend of ₹1.50 per share.
• HUDCO: Shares will trade ex-dividend today for a dividend of ₹1.50 per share.
• Manappuram Finance: Trading ex-dividend today for an interim dividend of ₹1 per share.

📍 IPO WATCH

• Horizon Industrial Parks: The IPO opens for public subscription today with a price band of ₹57 to ₹60 per share.
• Lalithaa Jewellery Mart: The primary market offering opens today, seeking to raise funds within a price band of ₹190 to ₹201 per share.

TAGS: India Daybook, Stocks in News, Corporate News, Stock Market, Company News

Tags: India Daybook Stocks in News Corporate News Stock Market Company News