The January futures contract of Nifty 50 on the Singapore Exchange indicates a positive start to the week for domestic equities. The contract was trading at 18,059, up 20.5 points or 0.11% from the previous close.
Earnings today: Artemis Electricals and Projects, Angel One, Banaras Beads, Deep Diamond India, Fedral Bank, Gujarat Lease Financing, Gothi Plascon, Ishaan Infrastructures and Shelters, In dian Acrylics, JSW Ispat Special Products, Kesoram Industries, Bank iof Maharashtra, Mkventures Capital, Oscar Global, Poddar Pigment, Raghuvir Synthetics, Shree Ganesh Remedies, SVP Global Textiles, Tinplate Company of India, Trident Lifeline, and Trident Texofab are scheduled to report their December quarter results today.
Wipro: Wipro, after market hours on Friday, reported a consolidated net profit of Rs 3,052 crore for October-December FY23, an increase of 2.8 per cent year-on-year (YoY). Consolidated revenue grew 14.35 per cent to Rs 23,229 crore in the quarter as against Rs 20,313.6 crore in the previous year. The company expects full-year revenue from its IT services to grow 11.5-12 per cent in constant currency terms.
HDFC Bank: The country’s largest private sector lender HDFC Bank on Saturday reported an 18.5 per cent increase in its standalone net profit at Rs 12,259.5 crore for the third quarter ended December 2022. NII registered a growth of 24.6 per cent on-year to Rs 22,987 crore. The bank’s core net interest margin was 4.1 per cent on total assets and 4.3 per cent on interest-earning assets, the lender said.
Avenue Supermarts (DMart): Avenue Supermarts Ltd, which owns and operates the retail chain D-Mart, on Saturday reported a 6.71 per cent increase in its consolidated net profit to Rs 589.64 crore for the third quarter ended on December 31, 2022. Its revenue from operations was up 25.50 per cent to Rs 11,569.05 crore during the quarter under review against Rs 9,217.76 crore in the corresponding quarter last fiscal.
NDTV: The company informed the exchanges that it is in the process of putting up a new leadership team which will set a fresh strategic direction and goals for the company. This comes after President Suparna Singh, chief strategy officer, Arijit Chatterjee, chief technology and product officer, Kawaljit Singh Bedi, and founders Prannoy Roy and Radhika Roy left the company’s board over the past month.
Jet Airways: The National Company Law Tribunal (NCLT) on Friday allowed the application of the Kalrock-Jalan consortium to implement its resolution plan for Jet Airways and infuse funds into the grounded airline to revive it. The tribunal also granted the consortium 180 days beyond November 16 to pay dues to the creditors and employees.
L&T Finance Holdings: The company, on Friday, reported a 39 per cent rise in consolidated profit at Rs 454 crore for the quarter ended December 31, 2022. The company’s net interest income increased 23.5 per cent year-on-year to Rs 1,931.8 crore. Its net interest margin (NIM) plus fees came at 8.80 percent, up 70 basis points (bps) YoY. Besides, it concluded divestment of the mutual fund business and received sale consideration of Rs 3,485 crore during the quarter.
State Bank of India: SBI to hike 1-year lending rate by 10 bps to 8.40 per cent.
Rattanindia Enterprises: RattanIndia Enterprises Limited has completed acquisition of 100 per cent shareholding in the electric motorcycles market leader Revolt Motors, the company said in an exchange filing on Saturday. With this acquisition of Revolt Motors, RattanIndia Enterprises seeks to significantly scale up Revolt’s growth and make it the largest EV two wheeler company in the country.
Sula Vineyards: In its Q3 business update, Sula Vineyards informed the exchanges that its Own-brand sales were up 13 per cent at Rs 187.2 crore as against Rs 165.7 crore YoY, while Wine tourism business was up 13 per cent at Rs 23 crore vs Rs 20.3 crore YoY.
Dr Reddy’s Labs: Dr. Reddy’s has launched in-house palbociclib to widen access to high-quality breast cancer drug.
Sagar Cements: The company has been declared as the successful Resolution Applicant for Andhra Cements.
Natco Pharma: In a breather to Indian drug makers, the Delhi High Court has advised the assistant patent controller to hear Hyderabad-based drugmaker Natco Pharma’s opposition to Novartis’ patent for the latter’s blockbuster heart failure drug (a combination of sacubitril and valsartan).
Delhivery: Delhivery completes the acquisition of Algorhythm Tech
NTPC: Two key infrastructure projects are being blamed for the havoc in Joshimath — NTPC Tapovan Vishnugad Hydro Electric Project (HEP) and the Char Dham national highway project. The Union power ministry has come out in support of its wholly owned power generator NTPC, backing its claim that the hydropower project had no role in the land subsidence.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Read all the Latest Business News here