An Amazing start for the stock market
As a surprise today many company stocks went high even before the market opened. Following is the list of companies which includes big bulls such as Titan Group, HCL, Nykaa, Dabur, Equitas Small Finance Bank.
Titan Company reports 18% sales growth in Q2FY23, adds 105 stores during the quarter. The company witnessed healthy double-digit growth across most businesses with overall sales growing 18% YoY. The firm has continued its retail network expansion with addition of 105 stores (net) for the quarter ended September FY23. Its jewellery division grew 18% YoY on a high base of Q2FY22, while watches & wearables segment clocked 20% growth YoY.
HCL Technologies & Google Cloud expand strategic partnership in accelerate digital services for enterprisess. The company has expanded strategic partnership with Google Cloud to accelerate digital services for enterprises. HCL Tech will train up to 18,000 technology and consulting professionals on Google Cloud.
Yes Bank gets RBI approval for appointment of Prashant Kumar as MD & CEO for 3 years. The Reserve Bank of India has given its approval for appointment of Prashant Kumar as the Managing Director & Chief Executive Officer of Yes Bank for a period of 3 years effective from October 6. Earlier Prashant Kumar was appointed as MD & CEO of Yes Bank post the reconstruction in March 2020.
Nykaa signs strategic partnership with Middle East-based retailer Apparel Group. Beauty and lifestyle retailer Nykaa has signed strategic partnership with Middle East-based retailer Apparel Group. The company with Apparel Group will recreate omnichannel beauty retail platform in the Gulf Cooperation Council (GCC). Apparel Group has more than 75 brands with over 2,000 stores across 14 countries.
Dabur India expects to report revenue growth in mid-single digits in Q2FY23. The company said India business had a steady performance & is expected to report revenue growth in mid-single digits, while international business is expected to post double-digit revenue growth in constant currency. During the quarter ended September FY23, inflation was at peak levels which impacted gross margins, and operating margin in Q2FY23 is expected to be lower by around 150-200 bps versus Q2FY22.
NTPC signs MoU with GE Gas Power to reduce carbon intensity at Kawas gas power plant. The country’s largest power generation company has collaborated with GE Gas Power to reduce carbon intensity at its Kawas gas power plant in Gujarat. Both companies signed a Memorandum of Understanding (MoU) for feasibility to demonstrate of hydrogen (H2) co-firing blended with natural gas in GE’s 9E gas turbines installed at NTPC’s Kawas combined-cycle gas power plant in Gujarat
Datamatics Global Services in partnership with Scan-Optics to help enterprises optimize business performance. Datamatics, and Scan-Optics, a leader in intelligent data management and digital transformation, have entered in a partnership to help organizations enhance automation of business operations.
Quess Corp to divest 53% stake in subsidiary Simpliance Technologies. The company has entered into definitive agreements to divest its 53% stake in subsidiary Simpliance Technologies, to Aparajitha Corporate Services, a HR compliance services company. The deal is valued at an enterprise value of Rs 120 crore, on a cash and debt free basis.
Zuari Agro Chemicals appoints Manish Malik as CFO. The company has appointed Manish Malik as Chief Financial Officer and Key Managerial Personnel. The appointment of Manish Malik as CFO is with effect from October 6.
Indian Hume Pipe Company bags order worth Rs 194 crore under Jal Jeevan Mission Project in Maharashtra. The company has received Letter of Acceptance for the work of Rs 194.03 crore from Maharashtra Jeevan Pradhikaran Division, Buldhana, Maharashtra, under Jal Jeevan Mission Project for Jalgaon Jamod 150 Villages Regional Rural Water Supply Scheme.
Themis Medicare partners with NFL Biosciences for development of drug for tobacco cessation in India. The company has entered into a partnership with NFL Biosciences, to develop NFL-101, the drug candidate for smoking cessation, for the Indian market. Themis submitted an IND (investigational new drug) application for a Phase II-III clinical trial to the Central Drugs Standard Control Organization (CDSCO), the National Regulatory Authority of India (NRA).
Dhruv Consultancy Services JV bags consultancy services contract for road project in Andhra Pradesh from NHAI. The company in joint venture with Arkitechno Consultants (India) received consultancy services contract for road project in Andhra Pradesh from NHAI.
Equitas Small Finance Bank clocks 20% YoY growth each in deposits, advances for Q2FY23. The small finance bank clocked 20% year-on-year growth in provisional gross advances at Rs 22,802 crore for the quarter ended September FY23.