Stocks to watch: Nifty futures on the Singapore Exchange were trading 44 points, or 0.23 per cent, lower at 18,686, indicating that Dalal Street was headed for a negative start on Wednesday.
Adani Ports and SEZ: The company saw a 5.1 per cent year-on-year (YoY) rise in consolidated net profit for the January-March quarter (Q4FY23) at Rs 1,158.9 crore. Revenue from operations also grew by 40 per cent year-on-year to Rs 5,797 crore. The board recommended a dividend of Rs 5 on each fully paid-up share of Rs 2 for FY23.
Mankind Pharma: Mankind Pharma Ltd reported a 50% year-on-year (YoY) rise in consolidated net profit for the March quarter at Rs 285 crore. Revenue from operations grew by nearly 19% year-on-year to Rs 2,053 crore.
State Bank of India: SBI shares will be in focus today as the company will go ex-dividend.
Coal India: Coal India has increased the prices of non-coking coal by 8% with effect from 31 May. The state-owned company will get an incremental revenue of Rs 2,700 crore from the price hike.
HDFC Life: Aberdeen, a part of HDFC Life’s promoter group, is set to sell its entire stake in the firm on Wednesday as part of a block deal. Currently, abrdn holds 35.7 million shares or 1.66 per cent stake in the insurance firm. The shares will be sold in the range of Rs 563.2 to Rs 585.15.
Sun Pharmaceutical: The pharma major announced that its New Drug Application (NDA) of tildrakizumab injection, used to treat adults with moderate to severe plaque psoriasis, was approved by the Chinese health authority.
NMDC: The state-owned company cut rates for iron ore lump and its fines by Rs 300 and Rs 450 per tonne, respectively. It has fixed the price of lump ore at Rs 3,900 per tonne and fine at Rs 3,560 per tonne.
Mahindra & Mahindra: The company announced that Icarus Hybren has been incorporated as a wholly owned subsidiary of Mahindra Susten, a subsidiary of Mahindra Holdings Limited, which in turn is a wholly owned subsidiary of the company.
Apollo Hospitals: The company reported a consolidated net profit of Rs 145 crore for the March quarter. Consolidated revenue from operations grew by 21.3 per cent to Rs 4,302 crore in Q4 FY23.
Inox Wind: The company bagged a 150 megawatt (MW) wind power project in Gujarat from NTPC Renewable Energy Limited (NTPCREL). With this, the total order placed from NTPC to Inox Wind is 550 MW so far.
Patanjali Foods: The company reported a profit after tax of Rs 264 crore, up 12.8 per cent from Rs 234 crore a year ago. On the other hand, revenue from operations grew by 18.14 per cent to Rs 7,873 crore for the March quarter.
Rajesh Exports: The company appointed Suresh Kumar Sarojamma Linge Gowda as Managing Director for a period of five years with effect from June 1, 2023, subject to the approval of the shareholders in the ensuing general meeting.
Torrent Pharma: The company saw a consolidated net profit of Rs 287 crore for the March quarter, as against a loss of Rs 118 crore in the year-ago period. The Board of Directors has recommended to the members a final dividend of Rs 8 on equity share of Rs 5 each.
V-Guard Industries: The electric goods maker reported a 41.14 per cent decline in consolidated net profit at Rs 52.72 crore in Q4FY23. Meanwhile, revenue from operations increased by 7.64 per cent to Rs 1,140.14 crore during the period under review.
PTC Industries: The company reported 19 per cent YoY growth in total income at Rs 62.6 crore in Q4FY23, as against Rs 52.6 crore in a year-ago period. On the other hand, profit after tax grew 99.1 per cent to Rs 9.2 crore in the March quarter.
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