The companies said business continues to show an excellent rebound after two years of adverse Covid-19 impact and an overall improvement in the health of operations
This acquisition will enable MGL to expand to newer geographical areas in Maharashtra (Ratnagiri, Latur & Osmanabad) and Karnataka (Chitradurga & Davanagere), thereby, providing new avenues.
Stocks to Watch: Mahanagar Gas has entered into a pact to acquire Unison Enviro, a subsidiary of Ashoka Buildcon, for Rs 531 crore
CLOSING BELL: The Rs 15,446 cr stake buy by GQG Partners in Adani Group, coupled with positive global cues buoyed sentiment on Friday. Heavyweights RIL, ITC and Airtel also rallied up to 3 per cent.
The company said business continues to show an excellent rebound after two years of adverse COVID-19 impact as well as overall improvement in the health of operations.
Meanwhile, in the past one month, the stock of the industrial products company has zoomed 83 per cent after it reported robust December quarter (Q3FY23) results.
The management expects growth momentum of business as well as execution to continue for the coming three years.
SBI, Bank of Baroda, Punjab & Sind Bank, Union Bank of India, UCO Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank were up 4 - 7 per cent each.
The promoters plan to use the proceeds to retire debt and for other purposes.
This one time impairment impact notwithstanding, we believe this move bodes well for future return ratios and profitability. We expect more impairments in due course, ICICI Securities said in a note.
CLOSING BELL: The broader indices also outperformed, BSE Midcap and Smallcap indices were down up to 0.2 per cent as against the 0.8 per cent decline on the BSE benchmark.
Shares of Taylormade Renewables hit a new high of Rs 163.50 today and have zoomed nearly 900 per cent in the past six months
The company said it has received information that certain entities are circulating unsolicited / unauthorised SMS / Whatsapp messages regarding the shares / securities of the Company.
A joint venture of Russian firm Transmashholding (TMH) and RVNL emerged as the lowest bidder for the manufacture and maintenance of 200 lightweight Vande Bharat trains.
According to analysts, Macrotech Developers is expected to benefit from resilient housing demand, supply consolidation and peaking out of high interest rates.
Adani Enterprises, the Group flagship company, saw around 38.96 million equity shares (3.4 per cent of total equity) worth of around Rs 5,487 crore change hands on the BSE this morning.
Acquisition of Quant Systems will strengthen Sonata offering in BFSI and Healthcare & Life science verticals which will aid the revenue growth of company, say analyst at ICICI Securities.
Stocks to watch today: From HDFC to PVR, here are top stocks to watch in Thursday's trading session
CLOSING BELL: IT, financial and metal shares led the market rally; Broader indices such as Midcaps and Smallcaps outperformed the benchmarks, while shares of Adani Group too finished on a solid note.
Sustained higher crude oil prices and gas realisations can result in better profitability for upstream companies, say analysts.