smelly The futures contract traded on the Singapore Exchange indicated a positive opening for domestic equities. The contract was trading at 17,680, up 41 points or 0.23% from the previous close.
Today’s Earnings: IndusInd Bank, Persistent Systems, Bank of Maharashtra, Tata Teleservices, Century Textiles, Tamil Nadu Mercantile Bank, Mahindra Logistics, IIFL Securities among others will post January-March quarter (Q4FY23) results.
Reliance Industries: The group posted higher-than-expected net profit in Q4FY23, buoyed by fall in raw material prices and savings in tax expenses. Consolidated net profit rose 19.1 per cent year-on-year (YoY) to Rs 19,299 crore, as against the Street estimate of Rs 17,850 crore. Revenue during the quarter also increased by 2.7 per cent to Rs 2.13 lakh crore.
ICICI Bank: The private sector lender reported its highest ever quarterly profit of Rs 9,211 crore in Q4FY23, up 30 per cent YoY on the back of impressive margin expansion. Net interest income (NII) also increased by 40.2 per cent to Rs 17,667 crore in Q4FY23.
Yes Bank: The private sector lender saw a 45 per cent decline in net profit to Rs 202 crore in Q4FY23 due to doubling of provisions. NII grew 15.4 per cent to Rs 2,105 crore in the March quarter, with a 0.30 per cent expansion in net interest margin.
Wipro: The IT services firm is reconsidering the buyback proposal of equity shares and a final decision will be taken on April 26-27. The outcome of the board meeting will be announced on April 27, the same day the company announces its Q4FY23 and FY23 results.
Hindustan Zinc: The company reported an 11.78 per cent decline in its consolidated net profit at Rs 2,583 crore in Q4FY23 due to higher expenses. Total income also declined by 2.3 per cent to Rs 8,863 crore from Rs 9,074 crore in the year-ago period. Meanwhile, expenditure in Q4FY23 was up 13. per cent YoY at Rs 5,358 crore.
Torrent Power: The company incorporated Torrent Energy Pvt 10 (TU10), a wholly owned subsidiary, for generation and transmission of electricity. Further, Subsidiary shall also include distribution, purchase, purchase, sale, trade, import, export, or otherwise involved in all forms of electrical power and energy.
Ajmera Realty: Shree Yogi Realcon, a subsidiary of realty firm, has acquired a land parcel of 5,017 square meters from Tata Communications in a bidding process for Rs 76 crore. The acquisition is aimed at residential development of one, two and three BHK with an estimated gross value of Rs 550 crore.
Ami Organics: The specialty chemical firm approved the acquisition of 55 percent participating interest in Baba Fine Chemicals, a specialty chemical company focused on the custom synthesis and manufacture of intermediates. This acquisition marks the beginning of AMI Organics’ entry into the high entry barrier semiconductor industry.
Macrotech Developers: The realty firm recorded the best ever annual pre-sales for FY23 at Rs 12,064 crore, up 34 per cent YoY. While revenue from operations grew 3 per cent YoY to Rs 9,470 crore, adjusted EBITDA declined 8 per cent YoY to Rs 2,970 crore for FY23.
Maharashtra Seamless: The company has bagged an order worth Rs 262 crore from ONGC for the supply of seamless tubing pipes and accessories. The distribution places are Gujarat, Rajasthan, West Bengal, Assam and Tripura.
CE Information System: The company saw 27 per cent YoY growth in revenue in Q4FY23 to Rs 73 crore, while total income grew 21 per cent YoY to Rs 83 crore during the March quarter. The board also approved a dividend of Rs 3 per share for FY 22-23, subject to shareholders’ approval.
Sun Pharma: USFDA directs company to take certain corrective actions at Mohali facility before releasing final product batches
America.
HDFC bank: HDFC Bank has received certain clarifications from the Reserve Bank of India regarding its merger with HDFC Bank. The clarifications relate to lending, investments, CLR, loans against shares and certain regulatory requirements.
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