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*LARSEN & TOUBRO Tender Buyback* Approved with Special Dividend of 6 ₹ Buyback Price : Upto 3,000 Today's Closing Price : 2,561 Buyback Size ₹ : 10,000 Crore Buyback Size in Shares : 3,33,33,333 Shares Retail Quota : 50,00,000 Shares Record Date for Buyback : To Be Announced *Shareholders of Tata Motors DVR* will get 7 Shares of Tata Motors for every 10 shares they hold. Current Price Tata Motors: 639 Tata Motors DVR: 373 At current price of Tata Motors, it implies Tata Motors DVR shares priced at 447, 18% higher than today's closing.

62.55 new High

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Msumi

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Stocks in the news Tata Steel: The Tata Group company reported a net profit of Rs 525 crore in the first quarter of 2023-24 weighed down by its Europe operations. Its net profit was Rs 7,714 crore in the same quarter a year ago, and Rs 1,566 crore in the quarter ending March 2023. The total revenue from operations came in at Rs 59,490 crore, which is 6.3 percent lower as against Rs 63,430 crore reported in the year-ago period. The revenue clocked is also around 5.5 percent lower as against Rs 62,961 crore reported in Q4FY23. TVS Motor Company: Riding on phenomenal growth in sales, an improved margin, cost-saving measures, and a wider product mix, TVS Motor Company reported a 46 percent rise in net profit to Rs 468 crore for the quarter ended June. The Chennai-based two-and three-wheeler manufacturer recorded a 20 percent jump in revenue to Rs 7,218 crore, compared to Rs 6,009 crore in the same period last year. LIC Housing Finance: The company has fixed August 18 as the record date for the purpose of ascertaining the eligibility of members for payment of the final dividend. The final dividend, if approved by the members in the 34th AGM, will be paid to the eligible members within the stipulated period of 30 days from the date of AGM. Relaxo Footwear: Its Q1 profit after tax was at Rs 56 crore, up 46 percent YoY, from Rs 39 crore. Q1 revenue was at Rs 739 crore, up 11 percent YoY. EBITDA stood at Rs 108 crore; margins at 14.6 percent up by 165 bps YoY. The decline in raw material prices led to improved operating efficiency and profitability during the quarter, the company said. JK Paper: The paper maker recorded a turnover of Rs 1,663.97 crore (up 10 percent), EBITDA of Rs. 532.03 crore (up 16 percent) and profit after tax of Rs 308.67 crore (up 18 percent) on consolidated basis for the quarter ended June 2023 as compared to corresponding quarter of the previous financial year. The results have improved due to the acquisition of corrugation business last year and better performance by Sirpur Paper Mills with increased volume and higher sales realisation. Jammu & Kashmir Bank: J&K Bank's net profit jumped 97 percent YoY to almost double its profit-after-tax to Rs 326.45 crore for the first quarter of FY 2023-24 when compared to Rs 165.97 crore recorded for the April-June quarter last financial year. With NIM at almost 4 percent along with 24 percent YoY increase in net interest income, the company sees “promising top-line growth” unfolding in coming quarters. SJVN: The Government of Arunachal Pradesh has allotted five projects totalling 5,097 MW to the company. The projects allocated are 3,097 MW Etalin, 680 MW Attunli, 500 MW Emini, 420 MW Amulin and 400 MW Mihumdon. All the five projects are located in Dibang Basin, which will result in optimal resource utilisation and timely completion of projects, the company said. The development of these projects will involve an investment of more than Rs 50,000 crore. PNB Housing Finance: Its net Interest Income improved by 70 percent YoY and 6 percent QoQ to Rs 629 crore. Profit after tax increased by 48 percent YoY and 24 percent QoQ to Rs 347 crore. IT also recorded its highest ever Return on Assets in a decade at 2.07 percent in Q1FY24 as compared to 1.61 percent in FY23. Wipro: Wipro FullStride Cloud has partnered with Pure Storage, a provider of enterprise data storage solutions, to help clients accelerate their sustainability journey through the power of technology. The goal is to empower customers to drive a more sustainable data centre footprint by providing more efficient strategies to minimize the environmental impact.

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