HDFC, Lupin, Nestle India, Ambuja Cements, Power Grid, Greaves Cotton stocks in concentrate

By Consultants Review Team Friday, 17 February 2023

IndianIndian indexes are likely to begin on a negative note, hinted SGX Nifty. Nifty futures on the Singapore Exchange dropped at a level of 17,968. In the prior meeting, Sensex closed above 61,300 and the Nifty settled above 18,000. “Markets ended higher for the third straight day but ended off the day’s high as profit booking towards the close in banking stocks trimmed the gains. Investors preferred to stay on the sidelines after the US 2-year yield jumped to 4.632% while the 10-year yield was last pegged at 3.811%,”  said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities.

HDFC: Housing Development Finance Corporation (HDFC) on Thursday raised Rs 25,000 crore in the country’s largest privately-placed corporate bond issue on a private placement basis. HDFC had set an issue size of Rs 5,000 crore for the issue, with an option to retain an oversubscription of Rs 20,000 crore. The bonds carry a coupon of 7.97% a year, translating to a spread of 49 bps over Wednesday’s close of the 10-year government bond yield.

Nestle India: Nestle India on Thursday declared a final dividend of Rs 75 per share for the year 2022 after the company reported the highest double‐digit growth in a decade led by sustained volume. The net profit jumped over 65% to Rs 628 crore in the fourth quarter of the calendar year 2022, up from Rs 379 crore in the same quarter last year.

Ambuja Cements: Ambuja Cements, a part of Adani Cement said it has been declared as the ‘preferred bidder’ for the Uskalvagu limestone block in Odisha. An e-auction was conducted by the Odisha government for the block, situated in Malkangiri district, Ambuja Cements said in regulatory filings.

Greaves Cotton: Greaves Electric Mobility, the e-mobility business of Greaves Cotton, marked its foray into the high-speed electric two-wheeler segment. It launched a high-speed Ampere Primus electric scooter and Ampere Zeal EX, a sporty and youthful entry-level electric two-scooter.

Lupin: The multinational pharmaceutical company announced its Q3FY23 earnings on Thursday. Sales for the current quarter were Rs 4,244 crore as compared to Rs 4,087 crore on-year, up 3.8%.

Power Grid: POWERGRID Bhuj Transmission (a wholly owned subsidiary of Power Grid, secured through Tariff Based Competitive Bidding) has the mandate to establish a transmission system for providing connectivity to Renewable Energy Projects at BhujII (2000 MW) in Gujarat on Build, Own, Operate and Maintain (BOOM) basis has successfully commissioned the project on Thursday.

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