Sebi has barred Gujarat-based SME Kalahridhaan Trendz and its promoters from the securities market for concealing loan defaults, misleading investors, and diverting IPO funds. The company also fabricated financials and falsely claimed major orders from a fictitious Bangladeshi entity.
Grasim Q3 Results: Grasim on Monday reported a 41% year-on-year (YoY) decline in its consolidated net profit at Rs 899 crore in the third quarter. Revenue from operations during the same period rose 9% YoY to Rs 34,793 crore.
Apollo Hospitals Q3 Results: The company's board has declared an interim dividend of Rs 9 per share, with February 15 as the record date. The payout will be made by February 28. In Q3, EBITDA grew 24% YoY to Rs 762 crore. Healthcare revenues rose 13% YoY to Rs 2,785 crore, driving a 21% YoY profit increase to Rs 348 crore, while EBITDA for the segment surged 14% YoY to Rs 671 crore.
Novelis Q3 Results: Novelis Inc, Hindalcos subsidiary, reported a 9% YoY drop in Q3 net income to $110 million, with adjusted EBITDA down 19%. Rising scrap aluminum costs pressured margins despite higher revenue from aluminum price gains.
Tech view: Nifty formed a red candle on the daily chart, signalling weakness, but found support near the 21-day simple moving average (DSMA) at 23,290. On the upside, resistance lies at the 50-DSMA near 23,740, followed by 23,800. A drop below 23,290 could deepen losses. Traders should watch these key levels, advised Hrishikesh Yedve of Asit C. Mehta Investment Intermediates.
Rajesh Jejurikar, CEO of Mahindra & Mahindras Auto & Farm sector, shares insights on the company's remarkable growth in the SUV and tractor markets. Despite overall industry sluggishness, M&M has seen strong demand due to successful launches like the Thar, XUV700, and Scorpio N. In tractors, positive rural factors have maintained strong performance with a 44% market share.
