february futures contract smelly Trading at 50 on the Singapore Exchange today indicates a positive start for domestic equities. The contract was trading at 17,751.50, up 62 points or 0.35% from the previous close.
Earnings Today: Bajaj Finserv, BPCL, Coal India, Dhampur Sugar, Dwarikesh Sugar, Exide, Gail India, Inox Leisure, Larsen & Toubro, MRPL, PNB, RECL, Tech Mahindra and Welspun Industries are some of the notable companies to announce their earnings today. Huh. Third quarter results on Monday.
Bajaj Finance: Consumer financier Bajaj Finance reported highest ever quarterly profit at Rs 2,973 crore for the October-December quarter (Q3) of FY23, a 40 per cent growth in net interest income (YoY). NII) and the decline in provisions and contingencies. The company now anticipates adding 11 million new customers in FY23.
Tata Motors will increase the prices of its passenger vehicles by 1.2 per cent on a weighted average basis from February 1, depending on the variant and model, in view of the increase in the total input cost.
Dixon Technologies: The company has signed a term sheet with Mega Alliance Holdings Limited (part of Tino Group) to form a joint venture.
Zomato: In a clarification issued to the exchanges on Friday, the food delivery firm said it is rebranding its ten-minute food delivery service Instant, and not discontinuing it. The statement comes amid reports claiming that the company is planning to discontinue Instant, which was launched less than a year ago, due to tough market conditions.
Bharat Electronics: State-owned BEL’s standalone net profit rose to Rs 598.77 crore in Q3FY23 from Rs 583.37 crore in the same period a year ago. However, it fell from Rs 611.05 crore reported in Q2FY23. The Board of the company recommended an interim dividend of Rs. 0.60 per share. The record date has been set for February 10, 2023.
Hi-Tech Pipes: Hi-Tech Pipes on Saturday reported an increase of over 28 per cent in its consolidated net profit to Rs 13.02 crore for the December 2022 quarter due to higher income. Its total income also increased to Rs 569.80 crore from Rs 440.03 crore in the year-ago quarter. The Board of the company also approved the proposal for sub-division/split of the existing equity share from one equity share into 10 equity shares.
Godfrey Philips: The cigarette maker reported a 70.3 per cent rise in consolidated net profit at Rs 199.30 crore for the December quarter as against Rs 117 crore net profit last year. The company’s Ebitda grew 20 per cent year-on-year to Rs 209.8 crore, but Ebit margin declined 200 basis points to 22.8 per cent.
Vedanta: Vedanta, after market hours on Friday, reported a 42 per cent decline in profit at Rs 3,092 crore for the quarter ended December 2022 as compared to Q3FY22. However, sequentially, profit was up 15 percent. It also declared an interim dividend of Rs 12.5 per share for its shareholders. So far in FY23, it has declared a total dividend of Rs 81 per share.
Tata Steel: British Business Secretary Grant Shapps has told British Steel and Tata Steel they must guarantee a certain number of UK jobs by 2033, as part of a deal to deliver £300m in government aid each, The Guardian reports reported on Friday. The report said that a six-month moratorium on redundancy could also be given in lieu of taxpayer funding.
Poly Medicure: The company’s total income at the end of Q3FY23 stood at Rs 299.26 crore as compared to Rs 283.38 crore at the end of Q2FY23. Its net profit stood at Rs 50 crore for the recently ended quarter as against QoQ net profit of Rs 43.5 crore.
Coal India: State miner Coal India Ltd. Chairman and Managing Director Pramod Agarwal has said that the company plans to invest around Rs 42,600 crore in low-emission infrastructure for fossil fuel mining and green energy to help India achieve its net-zero goals. I can get help.
NTPC: State-run NTPC on Saturday reported a 5 per cent rise in its consolidated net profit at Rs 4,854.36 crore for Q3FY23. Its revenue from operations grew 34 per cent year-on-year to Rs 44,601.84 crore.
Borosil Renewables: The company informed the exchanges that trial production from SG-3 solar glass furnace with a capacity of 550 tonnes per day (TPD) commenced on January 26, 2023 at its first rolling line. Trial production from the second rolling line also commenced from January 27, 2023.
NMDC: The Department of Investment and Public Asset Management (DIPAM) on Friday said that the government has received several Expressions of Interest (EoI) for the proposed strategic disinvestment of NMDC Steel Ltd.
Captain Pipes: The Board of Directors of Captain Pipes on Friday considered issuing two bonus shares for each equity share held by the shareholders and split/sub-divide one equity share of the company into 10 equity shares. The proposals will be approved at the company’s EGM to be held on February 23, 2023.
Kajaria Ceramics: Kajaria Ceramics has reported a 41 per cent decline in its net consolidated profit at Rs 73.6 crore during Q3FY23. The company’s consolidated income grew at just 2 per cent annually to Rs 1,098.6 crore. The Board of Directors has approved the acquisition of additional 11,40,968 equity shares of subsidiary company Kajaria Vitrified (KVPL) for a consideration of Rs 1.80 crore.
Samvardhan Motherson International: Samvardhan Motherson International Ltd said it will acquire 51 per cent stake in Saddles International Automotive & Aviation Interiors Pvt Ltd for an enterprise value of Rs 207 crore.
Hinduja Global: Hinduja Global Solutions (HGS) on Friday announced that the company’s board has approved a buyback program worth Rs 1,020 crore. The company said it has fixed the final buyback price at Rs 1,700 per equity share.
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