Stocks in News: Oil India, Bajaj Finance, Vedanta and More

Oil India

 

The board of directors of the state-owned oil and gas exploration company has approved its revision of project capital cost from Rs 6,555 crore to Rs 7,231 crore for execution of project of Numaligarh refinery.

Bajaj Finance

 

The reservation of new loans during Q1FY24 surged by 34% to 9.94 million compared to 7.42 million Q1FY23. The booked deposits stood at around Rs 49,900 crore as of June 23, escalating 46% over Rs 34,102 crore as of June 2022. Meanwhile, assets under management augmented by 32% to Rs 2.7 lakh crore in Q1FY24 as compared to the same period last year. Consolidated net liquidity surplus, on the other hand, stood at Rs 12,700 crore as of June 2023.

Vedanta

 

The metal production cost surged by 2% YoY and 1% QoQ to 578 kilotonnes as a result of efficiency in the operations. Maximum mined metal production in Q1FY24 at 257-kilo tonnes is encouraged by improved mined metal grades and enhanced mill recovery. Overall power sales increased by 19% to 4,266 million units in the quarter ended June FY24.

IDFC First Bank

 

The board of directors of IDFC first bank has nodded to the amalgamation of IDFC with the bank. 155 equity shares of IDFC First Bank for every 100 equity shares of IDFC will be the share exchange ratio for the amalgamation. Consequently, the standalone book value per share of the bank would mount by 4.9%  as per financials FY23.

Eris Lifesciences

 

Subsidiary Eris Oaknet Healthcare has transferred all the dermatology trademarks previously acquired from Glenmark Pharmaceuticals to Eris Lifesciences. Rs 339.68 crore is the consideration for this intra-group transfer.

 

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