Monday’s trading may start on a flat level with a negative trend amid mixed global cues. Singapore-traded Nifty 50 futures – an early indicator of the performance of the benchmark Nifty 50 – contract were down 0.2 per cent at 17,290 at 6:58 am on Monday, suggesting a lower start to Indian benchmark indices.
HDFC bank
Country’s largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit at Rs 10,055.20 crore for the March quarter, led by increased credit demand across categories and a rise in bad loans. Less provision was made in the form of retrenchment.
Infosys
Infosys Ltd delivered a sales forecast that beat analysts’ estimates, indicating slowing demand for software and IT services as companies move out of work-from-home arrangements in a post-pandemic world. Revenue in this fiscal year ending March 2023 will grow 13 percent in constant currency terms to 15 percent, an average of 17 percent growth analysts had forecast.
ICICI Pru Life
ICICI Prudential Life Insurance on Saturday reported a more than two-fold jump in its net profit to Rs 185 crore for the January-March quarter, driven by strong growth in new business. ICICI Prudential Life Insurance said in a regulatory filing that the company had posted profit after tax of Rs 64 crore for January-March FY21.
Mahindra & Mahindra
The firm on Saturday said it has agreed to sell over 34.75 lakh shares in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL), which will be sold 212 per cent in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL) to Japan-based Sanyo Special Steel Co Ltd. Sells for Rs. crore deal
Indigo
IndiGo, promoted by InterGlobe Aviation Limited, has appointed Vikram Singh Mehta, former chairman of Shell group companies in India, and former Air Chief Marshal BS Dhanoa as independent non-executive directors on the airline’s board.
Tata Power
Tata Power on Thursday said a consortium led by US-based BlackRock Real Assets will invest Rs 4,000 crore for over 10 per cent equity stake in its subsidiary Tata Power Renewable Energy Ltd. Abu-Dhabi-based investment company Mubadala Investment Company (Mubadala) is also part of the consortium Greenforest, Tata Power Company said in a statement.
UltraTech Cement
Country’s leading cement maker UltraTech Cement on Friday announced an investment of USD 101.10 million (approximately Rs 839.52 crore) for White Cement and Construction Materials PSC (RAKWCT) for a 29.39 per cent equity stake in UAE-based RAK Cement Company. This is a “strategic investment” for the company, the Aditya Birla Group firm said in a regulatory update.
oil marketing companies
Crude oil prices are still hovering above $100 a barrel and this is likely to benefit OMCs.
Windlass Biotech
Windlass Biotech Ltd on Thursday said it has concluded the EU Good Manufacturing Practices inspection conducted by the National Institute of Pharmacy and Nutrition, Hungary for its Plant-IV in Dehradun with zero critical observations. The firm said that this will help the firm increase its presence in the European market.
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