Adani Enterprises' share price was down more than 1% on BSE on May 3, a day after the company disclosed the receipt of two show-cause notices (SCNs) from SEBI during the quarter ending on March 31. Six Adani group companies have received SCNs from SEBI for alleged violations of related-party transaction rules and non-compliance with listing regulations in the quarter ending March 31, 2024.
Open Flip
Anand Rathi's research report on Federal Bank. The ~1.6bn wage revision-related expenses piled pressure on Federal Bank’s operating profits, but, provision write-backs aided profitability, with the RoA at 1.22% (down 17bps q/q). Balance-sheet growth was strong and headline asset quality improved. Our sanguine view on the bank persists, with a 12-mth TP of Rs202, 1.2x P/BV on its FY26e book.
Open Flip
💰In the Nifty index, the top gainers were Coal India (up 4.56%), Grasim Industries (up 1.81%), ONGC (up 1.17%), Dr Reddy's Laboratories (up 0.99%), and Hindalco Industries (up 0.88%). 💰On the other hand, Larsen & Toubro (down 2.77%), Maruti Suzuki India (down 2.45%), Nestle India (down 2.24%), Reliance Industries (down 2.22%), and Bharti Airtel (down 2.04%) were the top losers.
Open Flip
