Stocks In News Today, April 8: Manipal Health, Tata Steel, JSW Energy, Wipro, Titan, Cochin Shipyard And More

(MENAFN- AsiaNet News) Here are the companies making headlines before the opening bell on April 8, 2024:

* JSW Energy: Successfully closed its qualified institution placement (QIP) issue, raising Rs 5,000 crore through the allotment of 10.3 crore equity shares to 97 qualified institutional buyers at an issue price of Rs 485 per share. Goldman Sachs acquired equity shares worth Rs 1,356.1 crore, and Nomura India purchased shares worth Rs 500.15 crore.

* Manipal Health Enterprises: Set to acquire Medica in a deal worth Rs 1,400 crore, making it India's largest hospital chain with over 10,700 beds, surpassing Apollo Hospitals.

* Titan: Reports 17% revenue growth in the March quarter, driven by strong demand for jewellery products.

* Adani Group: Plans to invest Rs 2.3 trillion in renewable energy and manufacturing capacity by 2030.

* Tata Steel: In FY24, Tata Steel India achieved a record annual crude steel production of 20.8 MT, a 4 per cent YoY increase, driven by debottlenecking efforts and enhanced production at Neelachal Ispat Nigam. Deliveries for the year increased by 5.6 per cent YoY to 19.9 MT.

* Wipro: Srini Pallia, head of America-1 unit, likely to succeed Thierry Delaporte as CEO, emphasizing internal talent.

* IDFC First Bank, LIC Housing Finance: RBI imposes a monetary penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for non-compliance with regulatory measures.

* Cochin Shipyard: Signed the Master Shipyard Repair Agreement (MSRA) with the United States Navy,
effective April 5. The non-financial agreement enables the repair of US Naval vessels under the Military Sealift Command at Cochin Shipyard.

* ZEE Entertainment (Zee): Proposes a new management structure to rationalize the workforce, aiming for a 15% reduction without specifying layoff numbers.

* Nestle India: The Board approves a 0.15% annual increase in royalty payment to the parent firm for the next five years, reaching 5.25% of net sales.

* Vodafone Idea:
The Board approves the issuance of equity shares worth Rs 2,075 crore to Oriana Investments, along with an increase in authorized share capital.

* United Breweries (UB) : Maharashtra State GST Department issues a tax demand of over Rs 263.70 crore to the company.

* Bandhan Bank: Managing Director and CEO Chandra Shekhar Ghosh announces retirement after current tenure ends on July 9, having led the bank since July 10, 2015.

* Punjab National Bank: Recorded a total business of Rs 23.56 lakh crore for the quarter ended March FY24, reflecting an 8.8 per cent YoY growth. Total deposits increased by 7 per cent to Rs 13.7 lakh crore, while advances rose by 11.5 per cent YoY to Rs 9.85 lakh crore. Domestic deposits grew by 6.6 per cent YoY, with CASA deposits increasing by 2.6 per cent YoY. Domestic advances also saw a significant YoY rise of 11.2 per cent.

* Bandhan Bank: Managing Director and CEO Chandra Shekhar Ghosh announces retirement after current tenure ends on July 9, having led the bank since July 10, 2015.


AsiaNet News

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