Stocks to watch: smelly Futures contracts traded on the Singapore Exchange indicated a negative opening for domestic equities. The contract was trading at 18,251.50, down 33.5 points or 0.18% from its previous close.
Income Watch: Adani Power, Ajanta Pharma, Bharat Forge, Blue Dart, Britannia, DCB Bank, Equitas Small Finance Bank, Federal Bank, Gujarat Fluorochemicals, Marico, Paytm, Piramal Enterprises, Sailen Exploration, Sundaram Clayton, Symphony and Tatva Chintan Pharma are some of them . Major companies are scheduled to announce fourth quarter results on Friday.
SpiceJet: Aircastle, one of the lessors of the low-cost airline, has filed a case in the National Company Law Tribunal (NCLT) seeking to initiate insolvency process against the airline for non-payment of dues. The hearing is to be held on Monday.
blue Star: The company’s Q4 net profit grew 3X to Rs 225.29 crore in the quarter ended March 2023, as against Rs 76.27 crore in the quarter ended March 2022. Total income grew by 16.3 per cent to Rs 2,630.48 crore. In addition, the Board of the Company also approved Bonus issue of Equity Shares in the ratio of 1:1; i.e. one free share for every share held.
Adani Enterprises (AEL): The company reported earnings at the end of trades on Thursday. Q4 PAT grew by 137 per cent YoY to Rs 722 crore, and total income grew by 26 per cent to Rs 31,716 crore.
Hero MotoCorp: The two-wheeler major’s consolidated net profit grew 30.6 per cent YoY to Rs 810.60 crore in Q4FY23, on a 13.7 per cent rise in total income to Rs 8,671.82 crore.
TVS Motor: The company reported a 22 per cent jump in net profit in Q4FY23 to Rs 336 crore as against Rs 275 crore in Q4FY22. Total income also increased by 22 per cent to Rs 8,031 crore.
Sundaram Fastener: The company reported a 19 per cent increase in consolidated net profit at Rs 127.47 crore during the fourth quarter of FY23. Revenue from operations increased by 8.1 percent to Rs 1,447.95 crore.
Adani Ports: Adani Ports and Special Economic Zone (APSEZ) on Thursday announced the sale of the controversial Myanmar port for a total of $30 million, which is $120 million less than its previous known investment value in the port.
Raymond: The company’s board is scheduled to meet on May 06 to consider a proposal to raise up to Rs 2,200 crore through non-convertible debentures to pay off external debt.
Ceat: The tire maker’s net profit grew nearly 10 times to Rs 132 crore in Q4FY23, as against Rs 13.29 crore in Q4FY22. Total income grew by 11 per cent to Rs 2,864.97 crore.
Coal India (CIL): CIL-Armed Central Coalfields Chairman and Managing Director, PM Prasad asked to pump Rs 91,000 crore into various projects including diversification and mine development by 2025-26.
Jammu and Kashmir Bank: Net profit grew 4-fold to Rs 476.33 crore for the quarter ended March 2023, as against Rs 112.20 crore in the same quarter a year ago. Total income grew by 21.2 per cent to Rs 2,678.48 crore.
United Breweries: The company reported a massive 94 per cent decline in net profit to Rs 9.73 crore in Q4FY23 as against Rs 162.96 crore in Q4FY22. However, the total income increased by 11.3 percent to Rs 4,091.23 crore.
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