MANYAVAR

BENGALURU, Jan 30 (Reuters) - Diary of India economic, corporate events on Jan.30

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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July 29 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• INDIA’S VEDANT FASHIONS JUNE-QUARTER CONSOL PROFIT 624.9 MILLION RUPEES

• VEDANT FASHIONS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2.40 BILLION RUPEES

Source text for Eikon: ID:nBSE1ZbwkB

Further company coverage: VEDN.NS

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Feb 28 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• COMMISSIONER OF INCOME TAX, APPEAL RULED IN FAVOUR OF CO ON TAX MATTER

Source text for Eikon: ID:nBSE9XgCyW

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** Shares of Vedant Fashions VEDN.NS rise as much as 5.9% to 1,135.45 rupees, their biggest intra day pct gain since May 2023

** Apparel maker posted a 5% rise in Dec-qtr consol profit on higher sales

** VEDN also approved scheme of amalgamation of unit Manyavar Creations into co

** Trading volume nearly twice the 30-day moving avg

** Avg rating of nine analysts on VEDN at "buy"; median PT is 1,400 rupees - LSEG data

** Stock trading ~24% below its median PT

** VEDN fell 5.3% in Dec-qtr after rising for two straight qtrs

(Reporting by Kashish Tandon in Bengaluru)

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Dec 19 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• VEDANT FASHIONS LTD- INTEREST PAYMENT OF 1.7 MILLION RUPEES, PENALTY OF 189,000 RUPEES

• VEDANT FASHIONS LTD - ORDER-IN-ORIGINAL WAS PASSED FOR DISALLOWANCE, RECOVERY OF EXCESS CREDIT AVAILED OF 1.7 MILLION RUPEES

Source text for Eikon: ID:nBSE5wdVFX

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Oct 31 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• SEPT-QUARTER CONSOL PROFIT 487.2 MILLION RUPEES VERSUS PROFIT 690.2 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.18 BILLION RUPEES VERSUS 2.47 BILLION RUPEES

Source text for Eikon: ID:nBSE71cdjf

Further company coverage: VEDN.NS

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BENGALURU, Sept 11 (Reuters) - Kotak Institutional Equities, on Monday, stopped recommending Indian mid-cap companies since it could find no stocks, other than a few in the financial space, with room to rise following the index's record-breaking rally this year.

The more domestically focused mid-cap index .NIFMDCP100 has hit multiple record highs in its 31% surge so far this year, which easily outpaced the 10% rise in the benchmark Nifty 50 .NSEI index and has prompted warnings of a market correction.

"The primary driver of the rally appears to be irrational exuberance among investors, with high-return expectations being driven by the high returns of the past few months," Kotak analysts Sanjeev Prasad, Anindya Bhowmik and Sunita Baldawa said in a note.

"We see limited point in trying to find fundamental reasons behind the steep increase in stock prices ..."

That rally has left most of the 15 stocks in Kotak's model mid-cap portfolio trading near their 12-month fair values, and the brokerage said it could not find too many outside the banking, financial services and insurance (BFSI) space with decent potential upside. The portfolio has five BFSI stocks.

"It would be incorrect to recommend stocks with low conviction and potential downside to our fair values," Kotak analysts said, arguing that company fundamentals have worsened in many cases.

The brokerage said institutional investors' favourites -- like Aditya Birla Fashion ADIA.NS, Crompton Greaves CROP.NS, Jubilant FoodWorks JUBI.NS, Voltas VOLT.NS, TCNS Clothing TCNS.NS, Page Industries PAGE.NS and Vedant Fashions VEDN.NS -- have been laggards, given the weak consumption demand.

It noted that the favourites are in the broader "investment" sector, like capital goods, defence, railways, real estate, renewables.

However, the brokerage cautioned it was not sure about the quality of these stocks given their historically weak execution and governance track records.

(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

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July 26 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• JUNE-QUARTER CONSOL PROFIT 919.5 MILLION RUPEES VERSUS 1.01 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 3.12 BILLION RUPEES VERSUS 3.25 BILLION RUPEES

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May 23 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• CO HAS BECOME COMPLIANT WITH MINIMUM PUBLIC SHAREHOLDING REQUIREMENTS

• PROMOTER RAVI MODI FAMILY TRUST SOLD 9.88% OF TOTAL ISSUED AND PAID-UP EQUITY SHARE CAPITAL OF CO

• SHAREHOLDING OF PROMOTER, MEMBERS OF PROMOTER GROUP IN CO REDUCED FROM 84.88% TO 75%

Further company coverage: VEDN.NS

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** Shares of apparel maker Vedant Fashions Ltd VEDN.NS fall as much as 4.12% to 1,195 rupees, a one-month low

** Promoter Ravi Modi Family Trust announces plans to sell 7% stake in company via an offer for sale (OFS) nFWN37E0YK

** Floor price of OFS is 1,161 rupees per share

** There is also oversubscription option to sell additional 2.88% stake

** If the oversubscription option is exercised, promoter will sell 9.88% stake

** Promoter Ravi Modi Family Trust held 67.07% stake in VEDN, as on March 31, 2023, according to shareholding pattern data from National Stock Exchange

** OFS is primarily for the purpose of meeting the minimum public shareholding norms of market regulator, says global brokerage firm Morgan Stanley

** Stock is most active in two months, with a trading volume of 291,271 shares as of 10:15 a.m. IST, thrice the 30-day avg - Refinitiv data

** Seven of nine analysts tracking VEDN maintain "buy", one suggests "sell" and one recommends "hold"; median PT is 1,387 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

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May 17 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• PROMOTER RAVI MODI FAMILY TRUST PROPOSES TO SELL UP TO 7% STAKE OF VEDANT FASHIONS ON MAY 18, MAY 19- FILING

• PROMOTER RAVI MODI FAMILY TRUST HAS OPTION TO SELL 2.88% MORE STAKE IN VEDANT FASHIONS - FILING

• THE FLOOR PRICE FOR PROMOTER'S STAKE SALE OFFER IN VEDANT FASHIONS SHALL BE 1161 RUPEES PER SHARE -FILING

Source text for Eikon: ID:nNSEbWJXNw

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** Shares of Vedant Fashions Ltd VEDN.NS rise as much as 2.31% to 1,278.75 rupees

** Several brokerages reiterate "buy" on apparel maker, citing healthy March quarter results and potential rise in profitability

** Co reported rise in Q4 consolidated net profit post market hours on Friday; stock lost 1.75% on Tuesday nFWN36V2BN

** Rise in store additions, cost optimisation aided March quarter numbers, says Motilal Oswal

** Strong margins, healthy return profile and expansion focus to drive strong cash generation - Motilal

** Antique Stock Broking terms Q4 performance "decent", while ICICI Securities cites impressive store sales growth

** Trading volume at 94,618 shares as of 12:41 p.m. IST, 0.6x the 30-day avg - Refinitiv data

** Seven of nine analysts tracking VEDN maintain "buy", one suggests "sell" and one recommends "hold"; median PT is 1,381 rupees - Refinitiv data

(Reporting by Bharath Rajeswaran in Bengaluru)

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April 28 (Reuters) - Vedant Fashions Ltd VEDN.NS:

• DIVIDEND 9 RUPEES PER SHARE

• MARCH-QUARTER CONSOL PROFIT 1.09 BILLION RUPEES VERSUS PROFIT 887 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 3.42 BILLION RUPEES VERSUS 2.96 BILLION RUPEES YEAR AGO

Source text for Eikon: ID:nBSEtFNDh

Further company coverage: VEDN.NS

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