🇮🇳 India Daybook: Reliance-Capri Acquire SevenHills, GRSE Profit Jumps 74%

📍 EARNINGS

• Garden Reach Shipbuilders (GRSE): Reported a stellar 74% YoY jump in net profit to ₹170.77 crore for Q3 FY26; the board has declared an interim dividend of ₹7.15 per share.
• Manorama Industries: Net profit surged to ₹68.2 crore from ₹29.5 crore YoY, driven by strong revenue growth and improved operating leverage.
• Pondy Oxides: Reported a robust 167% YoY growth in net profit at ₹35.30 crore, supported by higher volumes and better realizations.
• eClerx Services: Posted a 40% YoY growth in Q3 PAT and announced a 1:1 bonus issue for its shareholders.
• Hindustan Zinc: Net profit for the December quarter rose 46.2% to ₹2,500+ crore, significantly boosted by rising silver prices.

📍 ACQUISITION

• Reliance Industries & Capri Global: The NCLT has approved a joint resolution plan to acquire Mumbai’s 1,500-bed SevenHills Hospital, marking a major expansion into the healthcare sector.
• TVS Supply Chain: The company has signed an agreement to acquire Swamy & Sons 3PL Private for a consideration of ₹88 crore.

📍 CORPORATE ACTION

• Vedanta: The retail portion of its Offer for Sale (OFS) to sell a 1.59% stake in Hindustan Zinc opens today (Jan 29) at a floor price of ₹685 per share.
• REC Limited: The Board of Directors is scheduled to meet today to deliberate on the declaration of a third interim dividend for the financial year 2025-26.
• eClerx Services: Following strong Q3 results, the board has officially recommended a bonus issue of equity shares in the ratio of 1:1.

📍 STOCKS IN FOCUS

• NTPC: Its renewable energy arm will commence commercial operations of 130.5 MW at the Khavda Solar Project from today, January 29.
• Tata Motors & Ashok Leyland: UBS has initiated coverage on Tata Motors' commercial vehicle business with a 'Buy' rating (TP ₹550) and raised the target for Ashok Leyland to ₹225.
• Wipro: Announced a strategic partnership with 'Factory' for agent-native software solutions and will participate in their latest funding round.
• Pine Labs: The fintech major has expanded into Sri Lanka by deploying its API-first card processing platform for Pan Asia Bank.

📍 DIVIDEND

• Ex-Dividend Today: Several stocks are trading ex-dividend today, including India Motor Parts & Accessories (₹10/share), IIFL Finance (₹4/share), and Automobile Corporation of Goa (₹5/share).
• Orient Electric & Zensar Tech: Both companies are also trading ex-dividend today following their recent interim dividend announcements.

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

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