January futures contract of smelly 50 indicates a positive start for domestic equities on Wednesday. The contract was trading at 18,132, up 56 points or 0.31% from the previous close.
Today’s Earnings: Aashka Hospitals, Alok Industries, Amal, Anubhav Infrastructure, Aurum Proptech, CCL Products (India), Central Bank of India, Cosine, Elegant Floriculture & Agrotech (India), Goa Carbon, IndusInd Bank, Oracle Financial Services Software, Orosil Smiths India, Persistent Systems, PSP Projects, Rallis India, Shemaroo Entertainment, Stylam Industries, Supreme Holdings & Hospitality (India), Surya Roshni, Toeyam Sports, Umiya Tubes, Vinyl Chemicals (India), Vivanta Industries, Welspun Investments & Commercials, and Wendt (India) ) ) is scheduled to report its October-December quarter (Q3FY23) earnings on Wednesday.
IndusInd Bank: The lender will report its earnings for the December quarter on Wednesday. The bank is expected to post strong earnings growth on the back of sustained growth in its loan book, but analysts have a mixed outlook on margin performance.
ITC: The company has signed a binding term sheet to acquire 100 per cent share capital (on a fully diluted basis) of Sproutlife Foods Pvt Ltd, an Indian company primarily engaged in food processing under the trademark ‘Yoga’. is engaged in the business of manufacturing and selling products. bar’.
Adani Transmission, REC: The company has entered into a share purchase agreement with REC Power Development & Consultancy Ltd. to acquire entire stake of WRSR Power Transmission Ltd.
Koforge: Life Insurance Corporation (LIC) has increased its stake in the company from 4.98 per cent to 5.03 per cent.
Delta Corp: The company has reported a standalone net profit of Rs 74.2 crore for the quarter ended December, 2022 (Q3FY23), as against a profit of Rs 66.86 crore reported in Q3FY22. Revenue from operations grew marginally to Rs 166.1 crore year-on-year (YoY) as compared to Rs 165.2 crore.
Tata Metaliks: Its December quarter net profit fell by 73 per cent at Rs 9.48 crore due to increased expenses. The company had posted a net profit of Rs 35.65 crore in the year-ago period, according to a statement. Its total income increased to Rs 792.43 crore from Rs 693.12 crore during the October-December period last year.
Bank of India: The company said it expects gross non-performing assets (GNPA) to be below 7 per cent in the current financial year (FY23). At the end of Q3FY23, the lender’s GNPA ratio stood at 7.66 per cent, while NNPA ratio stood at 1.61 per cent. It posted a net profit of Rs 1,151 crore, up 12 per cent YoY and 20 per cent sequentially.
Paint, tyres, OMC stocks: Oil-related stocks are likely to be on investors’ radar as Brent crude prices rose nearly 2 per cent overnight to above the $85 per barrel-mark.
RVNL: The company has emerged as the lowest bidder (L1) for Surat Metro Rail Project Phase-I (cost of Rs 673.8 crore) and Ahmedabad Metro Rail Project Phase-II (cost of Rs 384.3 crore).
Eris Lifesciences: The Indian drugmaker on Tuesday said it will acquire a portfolio of dermatology brands from Glenmark Pharmaceuticals for Rs 340 crore ($41.63 million) to deepen its presence in anti-fungal and anti-psoriasis segments. Separately, the company has reported a total income of Rs 425.495 crore and a net profit of Rs 101.859 crore during the period ended December 31, 2022.
Gokaldas Exports: Goldman Sachs Asset Management International has increased stake in the company from 4.985 per cent to 5.003 per cent.
ICICI Prudential Life Insurance: ICICI Prudential Life Insurance Company on Tuesday reported a 29 per cent decline in Q3FY23 net profit at Rs 220.63 crore. Meanwhile, net premium income grew by 4.3 per cent to Rs 9,465 crore. Net income from investments increased 10 times year-on-year to Rs 7,722 crore.
ICICI Prudential General Insurance: Its net profit for the third quarter rose 11 per cent to Rs 353 crore, aided by higher gross premium.
Tata Investment Corp: The company’s net profit declined 59.5 per cent to Rs 14.8 crore for the December quarter, while revenue fell 53 per cent to Rs 24.8 crore.
Hathway Cable & Datacom: The company reported a 15.3 per cent decline in consolidated net profit for Q3FY23 at Rs 28.74 crore. Consolidated revenue grew 5 percent YoY to Rs 478.45 crore.
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