TCS | To report December quarter results today. A CNBC-TV18 poll expects US Dollar revenue growth of 1.65 percent quarter-on-quarter, while rupee revenue growth seen at 3.9 percent. EBIT margin likely to improve by 70 basis points to 24.74 percent from 24 percent last quarter. Read more about the company's earnings expectations here.
Titan | Jewellery division saw growth of 11 percent year-on-year led by healthy new buyers in the festive period, higher value purchases in the studded category and unique new collections for the season. Watches and wearables division grew 14 percent year-on-year during the quarter led by new product launches. Fragrances and Fashion Accessories business grew 39 percent. CaratLane increased 50 percent from last year.
Tata Steel | India crude steel production increased 4 percent year-on-year and sequentially for the December quarter. Deliveries increased 7 percent from last year, driven by 11 percent growth in domestic deliveries which also led to an improvement in product mix. Tata Steel Europe steel deliveries were lower year-on-year but rose 5 percent sequentially. Production declined quarter-on-quarter and year-on-year.
Asian Paints | Board approves setting up of a new water-based paint manufacturing facility with a capacity of 4 lakh kiloliters per annum at an approximate investment of Rs 2,000 crore. The manufacturing facility is expected to be commissioned in three years. Exploring the possibility of making the investment and setting up the new facility in Madhya Pradesh.
Bandhan Bank | Advances for the December quarter grow 14 percent year-on-year and 5 percent sequentially. Deposits grow 21 percent from the same period last year and 3 percent quarter-on-quarter. CASA deposits decline 8 percent from the September quarter. CASA ratio drops to 36.4 percent from 45.6 percent year-on-year, the highest decline for a lender. Liquidity coverage ratio at 155 percent. Collection efficiency at 98 percent from 97 percent in the September quarter.
Kalyan Jewellers | Consolidated revenue growth of 13 percent in the December quarter and approximately 35 percent year-to-date. India operations revenue grew 12 percent. Non-south markets recorded higher revenue growth due to greater number of showrooms launched in that region over the last 12 months. Middle East business grew 24 percent during the quarter. Online business saw revenue decline of 5 percent.
Phoenix Mills | Consumption in December at Rs 926 crore or 122 percent of December 2019 levels. St. Regis occupancy at 81 percent compared to 79 percent last year. Courtyard Agra occupancy at 80 percent from 75 percent year-on-year.
Hi-Tech Pipes | Signs MoU with the government of Uttar Pradesh to set up a mega manufacturing facility of steel tubes and pipes and flat steel processing for a proposed investment of Rs 510 crore in a phased manner.
Lupin | Receives USFDA approval for its Abbreviated New Drug Application (ANDA), Fesoterodine Fumarate Extended-Release tablets, 4 mg and 8 mg. Alembic Pharma had recently received approval for the same drug, used in treating an overactive bladder. The drug will be manufactured at the company's Goa unit and has annual sales of $177 million as of September 2022.
Ashoka Buildcon | Emerges as the lowest (L1) bidder for construction of four lane elevated corridor and at-grade improvements in the Danapur-Bihta section in Bihar. The bid value of the project is Rs 2,161 crore. The company has also received Letter of Intent for development and distribution of infrastructure at Aligarh-2 Zone and Agra-1 Zone in Uttar Pradesh. The aggregate bid value of these projects is Rs 807.64 crore.
Keystone Realtors | Selected as developer of choice to redevelop the plot and premises of Basant Park Co-operative Housing Society Ltd. and a letter of intent has been society to that effect. The project will be developed on 16,896 square meters of land in Chembur. The redevelopment will lead to sale potential of approximately 2.75 lakh square feet of RERA carpet area. The project is expected to launch in financial year 2024.
National Fertilisers | Reported total fertiliser sale of 49.71 lakh MT compared to last year's sale of 39.25 lakh MT, which is its best ever in history. April-December sale registered a growth of 27 percent year-on-year. Recently introduced products like PDM, micronutrients and water soluble fertilisers has also received a good response from farmers.