STOCKS IN ACTION 27 October

Axis Bank: The lender appointed Munish Sharda as a whole-time director, designated as executive director, for three years, with effect from Nov. 1.

Praveg: The board approved the scheme of amalgamation between Eulogia Inn and the company. A total of 17.33 lakh new equity shares of Praveg will be issued to the shareholders of Eulogia Inn.

CARE Ratings: CARE Ratings (Africa), a subsidiary of the company, has incorporated a step-down subsidiary, i.e., CARE Ratings South Africa, on Oct. 25 for providing credit rating services.

Karnataka Bank: The bank approved an allotment of equity share capital of Rs 800 crore on a preferential basis. The board approved the allotment of 3.34 crore shares with a face value of Rs 10 each to HDFC Life Insurance, Bajaj Allianz Life Insurance, Quant Mutual Fund, Bharti AXA Life Insurance, and Bajaj Allianz General Insurance at a price of Rs 239.52 apiece.

McLeod Russel: Borelli Tea Holdings, a wholly owned subsidiary of the company, sold 100% of the capital contribution in Phu Ben Tea Company, a step-down subsidiary of the company, to TLK Agriculture for a net consideration of $2.15 million on Oct. 25. The sale is expected to be completed by Dec. 24.

Aurionpro Solutions: Ashish Rai has been promoted to CEO

ASTRAL: COMMENCES PRODUCTION
Starts Commercial Production Of Adhesives Division At Dahej Plant

JINDAL STAINLESS:
LARGE TRADE HYPNOS FUND LIMITED SELL 17,00,000 Shares @ Rs 459/ Share Promoter Entity JSL OVERSEAS LIMITED BUY 17,00,000 Shares @ Rs 459/ Share

KRBL | LT FOODS /CHAMAN LAL: Government Cuts Basmati Rice Export Floor Price To $950/T Vs $1,200 Down 21%

Lemon Tree Hotels: The company has signed a license agreement for a 50-room property in Visakhapatnam under the brand 'Red Fox Hotels'. The hotel is expected to be operational by FY 2026.

Novartis India: says it is currently facing shortage of one of its product 'Simulect 20 mg'. "The company is putting its best efforts to mitigate the supply issue on a sustainable basis." Novartis

Kamat Hotels: concludes sale of Mumbai unit to Lateral Hospitality for Rs 125 cr

Oberoi Realty: divests its entire 31.67% shareholding in JV with Sangam City Township for Rs 3.6 cr

Laxmi Organic Q2:
Net Profit up 24.4% at Rs 10.7 Cr Vs Rs 9 cr (YoY)
Revenue at Rs 652.3 cr Vs Rs 652.2 cr (YoY)
EBITDA up 35.5% at Rs 38.9 cr Vs Rs 28.7 cr (YoY)
Margin at 6% Vs 4.4% (YoY)

AGI Greenpac Q2:
Net profit up 65% at Rs 56.1 Cr Vs Rs 34 cr (YoY)
Revenue up 20.1% at Rs 615.3 cr Vs Rs 512.3 cr (YoY)
EBITDA up 58.1% at Rs 134.2 cr Vs Rs 84.9 Cr (YoY)
Margin at 21.8% Vs 16.6% (YoY)

RailTel Corp Q2:
Net profit up 23.6% at Rs 68.2 cr Vs Rs 55 cr (YoY)
Revenue up 39.8% at Rs 599.2 cr Vs Rs 428.7 cr (YoY)
EBITDA up 14.8% at Rs 115.3 cr Vs Rs 100.4 cr (YoY)
EBITDA margin at 19.2% Vs 23.4% (YoY)

Venus Pipes Q2:
Net profit up 95.2% at Rs 20.3 cr Vs Rs 10 cr (YoY)
Revenue up 51.3% at Rs 191.3 cr Vs Rs 126.4 cr (YoY)

Indian Bank Q2:
Profit up 62.3% at Rs 1988 cr Vs Rs 1225 cr YoY
NII up 22.5% at Rs 5740 cr Vs Rs 4684 cr YoY
Gross NPA at Rs 24,488 cr Vs Rs 26,227 cr QoQ
Net NPA at Rs 2826 cr Vs Rs 3,198 cr QoQ
Gross NPA at 4.97% Vs 5.47% QoQ
Net NPA at 0.60% Vs 0.70% QoQ

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