Adani Group, HDFC Bank, NTPC, Nykaa, Titan, and Others
Adani Group, HDFC Bank, NTPC, Nykaa, Titan, and Others: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were likely to open in red on Friday, as suggested by trends on SGX Nifty in early trade. Nifty futures on the Singapore Exchange were trading 32.5 points, or 0.19 percent, lower at 17,283.5 levels. In the previous session, BSE Sensex ended 157 points or 0.3 percent up at 58,222, while NSE Nifty 50 gained 58 points or 0.3 percent to settle at 17,332. Analysts expect Nifty to consolidate around 17,200-17,400 zones and then head towards 17600 – 17700.
Poonawalla Fincorp on Thursday said it registered a 44 percent on-year growth and an 8 percent sequential rise in consolidated disbursement to Rs 3,720 crore for the second quarter of this fiscal. Organic disbursement contributed around 97 percent to total disbursements, against 80% in Q1FY23.
With the National Master Plan for Multi-Modal Connectivity in place, Ahmedabad-headquartered Adani Group is set to give momentum to its logistic business by commissioning six more Multi-Modal Logistics Parks (MMLPs) in the next two years across five states, including Uttar Pradesh, Haryana, Rajasthan, Gujarat, and Telangana.
The private lender has completed over half of the digital transformation work it had undertaken over two years ago and is past the peak on tech spending as a percentage of the income. It can be noted that concerns on the digital front had led to an unprecedented penal action on the largest private sector lender from the RBI.
The leading bakery foods company has acquired a controlling stake in Kenya-based Kenafric Biscuits, a move that will help the company set up a manufacturing base and expand sales in the African markets. Britannia and Associates Dubai (BADCO), a wholly-owned subsidiary of Britannia has acquired a 51 percent equity stake.
Ujjivan Small Finance Bank
The private lender recorded a 44 percent growth in gross loan book at Rs 20,938 crore at the end of September 2022 driven by micro, affordable housing, and individual borrowings. The bank said advances are up 22 percent from Rs 14,514 crore as of September 2021 on the back of sustained growth in disbursement.
Future Retail’s (FRL) resolution professional has called for expressions of interest (EoIs) from prospective buyers under its ongoing bankruptcy proceedings, with October 20 as the deadline for submitting the bids.
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank recorded a 44 percent growth in gross loan book at Rs 20,938 crore at the end of September 2022 driven by micro, affordable housing, and individual borrowings.
Bharti Airtel has launched Airtel 5G Plus in 8 key Indian cities. The company informed that customers who have 5G smartphones will enjoy the high-speed Airtel 5G Plus on their existing data plans until the rollout is more widespread.
Titan Company posted 18 percent sales growth in Q2FY23, adding 105 stores during the quarter. The company witnessed healthy double-digit growth across most businesses with overall sales growing 18% on the year.
HCL Technologies and Google Cloud have expanded their strategic partnerships to accelerate digital services for enterprises.
FSN E-Commerce Ventures
Nykaa signed a strategic partnership with Middle East-based retailer Apparel Group. The company along with Apparel Group will recreate an omnichannel beauty retail platform in the Gulf Cooperation Council (GCC).
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