📷 Image Credits: Moneycontrol
The stock market is abuzz with the latest earnings announcements and updates on various companies. On May 29, more than 550 companies are set to announce their quarterly earnings, including major players like Tata Steel, Aadhar Housing Finance, Alkem Laboratories, Bata India, Cummins India, and many more.
One of the companies in focus is PNB Housing Finance, which may see a block deal of Rs 500 crore on May 29. Residents like Asia Opportunities V Mauritius and General Atlantic Singapore Fund are expected to be sellers in the deal, involving the sale of 69.6 lakh shares at a floor price of Rs 717 per share.
Hindalco Industries, a subsidiary of Aditya Birla, has filed for an IPO in the US, aiming to raise $945 million at the upper end of the price band. The company plans to offer 45 million shares in a price range of $18-21 per share, targeting a valuation of up to $12.6 billion.
In other news, Grasim Industries has seen an increase in stake by Birla Group Holdings Private Limited (BGHPL) from 19.10% to 23.18% following an amalgamation with Umang Commercial Company Private Limited and other entities.
Aster DM Healthcare, on the other hand, reported its Q4 earnings with a loss of Rs 24 crore compared to a profit of Rs 170.8 crore. The company witnessed a revenue growth of 20.65% to Rs 973.6 crore.
Lastly, Tata Steel, a major player in the steel industry, is also expected to announce its quarterly earnings on May 29, adding to the excitement and anticipation in the market for the day’s trading. Stay tuned for more updates and analysis on these companies and their financial performance.
