Thangamayil Jewellery Q3 Results:
Thangamayil Jewellery has recorded 21.8 percent jump in its December quarter (Q3FY23) net profit at Rs 13.8 crore versus Rs 11.3 crore and revenue was up 18% at Rs 744.5 crore versus Rs 630.8 crore, YoY.
Thangamayil Jewellery was quoting at Rs 1,096.00, down Rs 0.40, or 0.04 percent on the BSE.
Motilal Oswal View on Reliance Industries
Reiterated ‘buy’ rating on the stock with SoTP-based target price of Rs 2,800.
Brokerage house revise its capex estimates for FY23/FY24 to Rs 1,700 billion /Rs 1,000 billion from Rs 1,650 billion/Rs 750 billion, respectively, building in Rs 1,262 billion/Rs 280 billion in telecom, Rs 350 billion/Rs 350 billion in the standalone business and the rest in others.
Using SOTP, broking firm value the refining and petrochemical segment at 7.5x on December 24 EV/EBITDA to arrive at our valuation of Rs 879/share for the standalone business.
It ascribe an equity valuation of Rs 809/share to RJio and Rs 1,270/share to Reliance Retail, factoring in the recent stake sale.
Reliance Industries was quoting at Rs 2,430.10, down Rs 12.60, or 0.52 percent on the BSE.
Marksans Pharma gets UK MHRA market authorisation for Fluoxetine oral solution
Marksans Pharma announced that UK MHRA has granted Market Authorisation to the company’s wholly owned subsidiary Relonchem Limited for Fluoxetine 20mg/5ml Oral Solution.
Therapeutic use of the product is for treatment of depressive illness and other mental/mood disorders.
The product will be manufactured at the plant of Bell, Sons & Co. (Druggists) Ltd. located at Gifford House, Slaidburn Crescent, Southport, UK.
Marksans Pharma was quoting at Rs 66.15, down Re 1, or 1.49 percent on the BSE.
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Market at 1 PMBenchmark indices erased some of the intraday gains but still trading higher with Nifty around 18100.The Sensex was up 227.52 points or 0.38% at 60849.29, and the Nifty was up 60.50 points or 0.34% at 18088.20. About 1595 shares have advanced, 1707 shares declined, and 171 shares are unchanged.
USFDA issues Form 483 with 9 observations for Indoco Remedies’ Goa facilityThe United States Food and Drug Administration (USFDA) has conducted GMP inspection of the Solid Oral Formulation Facility of Indoco Remedies (Plant 1) at Goa. The inspection was conducted from 16th January, 2023 to 20th January 2023.The USFDA has issued Form 483 with 9 observations, which will be addressed within stipulated time. We believe that this will not have an impact on the supplies and the existing revenues from this facility, company said in its release.
Compuage Infocom Q3 Results:
Compuage Infocom has posted net profit of Rs 8.5 crore in the quarter ended December 2022 versus Rs 8.4 crore and revenue was down 6.1% at Rs 1,166.7 crore versus Rs 1,241.8 crore, QoQ.
Compuage Infocom was quoting at Rs 20.15, down Rs 0.30, or 1.47 percent on the BSE.
Tamilnad Mercantile Bank Q3 earnings:
Tamilnad Mercantile Bank has reported 38 percent increase in its Q3 net profit at Rs 279.7 crore against Rs 202.9 crore and net interest income was up 18% at Rs 534.2 crore versus Rs 452.8 crore, YoY.
Tamilnad Mercantile Bank was quoting at Rs 479.55, down Rs 0.20, or 0.04 percent.
CLSA View On Bandhan Bank-Buy rating, target at Rs 320 per share
-NII missed estimates & overall performance muted
-SMA book & un-provided stress were down
-MFI asset quality will be back on track in Q4 leading to a normalised RoE
-Cut FY24-25 estimates by 4-6% to factor in slower balancesheet growth
-Confidence in a cyclical MFI recovery increases, reported CNBC-TV18
Bharti Airtel appoints Naval Seth as head of investor relations
Bharti Airtel today announced the appointment of Naval Seth as the Head of Investor Relations.
Bharti Airtel was quoting at Rs 769.00, up Rs 4.60, or 0.60 percent.
Shakti Pumps Q3 revenue increases 17%; shares gain
Shakti Pumps has reported a 24% year-on-year decline in profit at Rs 11.2 crore for December FY23 quarter, impacted by weak operating performance and lower other income. Revenue from operations grew by 17% YoY to Rs 314.2 crore for the quarter.
Shakti Pumps (India) was quoting at Rs 422.10, up Rs 11.65, or 2.84 percent on the BSE.