News for Andhra Cements Limited (ANDHRACEMT.BO)

Stocks including NTPC, Tata Power, IRCTC, Blue Dart, Andhra Cements, Bank of Maharashtra, Piramal Pharma and more will be the spotlight on Tuesday, October 01.

Andhra Cements Ltd., an arm of Sagar Cements Ltd., on Monday filed the draft papers with the Securities and Exchange Board of India to raise up to Rs 180 crore through rights issue. The draft document has also been filed with the BSE and the National Stock Exchange, the country's two main bourses, for their requisite approvals. Notably, the fundraise plan had received nod from the company's board of directors in a meeting held on March 28.

Revenue: INR561 crores, up 4% from INR540 crores in Q1 FY24.EBITDA: INR47 crores, up from INR31 crores in Q1 FY24.EBITDA Margin: 8%, up from 6% in Q1 FY24.EBIT

"In the current financial year, Rs 15,000 crore will be arranged, with additional amounts in future years. We will facilitate financial support through multilateral agencies," said FM Sitharaman

Q4 FY2024 Results Today: Bharti Airtel, Siemens, Colgate-Palmolive (India), BASF India, Apollo Tyres, and PVR Inox are among the 97 companies set to announce their financial results for the fourth quarter, which ended on March 31, 2024.

With a sharp rally of 3,663%, Spright Agro is the top gainer in the list. Shares of the company traded at Rs 35.84 on May 6, 2024, against Rs 0.95 exactly two years ago

Geojit Financial Services is bullish on Sagar Cements has recommended buy rating on the stock with a target price of Rs 246 in its research report dated March 28, 2024.

Smaller stocks outperformed Nifty by a wide margin as the index is up only about 8.5% since last Diwali while Nifty Smallcap50 is up 38%, Nifty Microcap 250 has advanced 51% and Nifty SME Emerge has zoomed 69%.

Analysts say the railway sector is on a secular growth trajectory driven by a cyclical upturn in spending on rolling stock and greater government thrust on expanding the railway network

Reliance-backed Jio Financial Services forms a joint venture with BlackRock for asset management, with each investing $150 million. Poonawalla Fincorp receives ₹3,004 crore from the sale of its stake in Poonawalla Housing Finance to Perseus SG. Mahindra & Mahindra acquires 3.53% stake in RBL Bank for ₹417 crore. Marico acquires a 58% stake in Satiya Nutraceuticals for ₹369.01 crore. Power Finance Corporation’s oversubscribed debentures issue closes at ₹2922.17 crore. The government plans to sell RVNL shares for ₹1,329 crore. TTK Healthcare’s delisting offer falls short, while Motilal Oswal Financial considers internal restructuring.

The Nifty Bank index was trading 0.04 per cent up at 43699.05.

The Nifty Pharma index closed 0.12 per cent up at 12455.5.

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In the Nifty pack, 16 stocks were trading in the green, while 33 stocks were trading in the red.

The Nifty Realty index was trading 0.4 per cent up at 463.4.

Emkay Global Financial recommended hold rating on Sagar Cements with a target price of Rs 220 in its research report dated May 11, 2023.

The company reported a net profit of Rs 98 crore in March quarter compared to a net loss of Rs 19.15 crore last year. Net consolidated total income stood at Rs 802.58 crore, up 59 percent to Rs 5-6 crore.

BSE Sensex and NSE Nifty 50 were trading nearly half a per cent up on Friday, on the back of gains in index heavyweights such as L&T, ICICI Bank, HDFC Bank, Axis Bank.

BSE Sensex and NSE Nifty 50 were trading more than half a per cent up, each, on Thursday, on the day of weekly F&O expiry of contracts