Stocks to watch: The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,083.50, down 77 points or 0.42% from the previous close.
Earnings Watch: Adani Enterprises, Blue Star, Bombay Dyeing, Ceat, Dabur, HDFC, Hero MotoCorp, IDFC, J&K Bank, Mindspace Business Parks, Punjab Chemicals, Sundaram Fasteners, Tata Power, TVS Motor and United Breweries are few of the prominent companies scheduled to announce Q4 earnings on Thursday.
Titan: Titan has posted a standalone net profit of Rs 734 crore for the quarter ended March, up 49% over previous year period. Revenue from operations surged 33% to Rs 9,704 crore.
Aviation: Shares of airlines like IndiGo, SpiceJet, Jet Airways, are likely to be on investors radar for the second day running as crisis-hit Go First has reportedly stopped taking fresh bookings for its flights till May 15. The NCLT will hear the insolvency plea today.
Adani Group: While Adani Enterprises is scheduled to report March quarter numbers today, and Adani Power tomorrow, shares of Adani Group may remain in focus as an Auditor, whose appointment was questioned by US short seller Hindenburg in its scathing report has resigned due to “pre-occupation” said Adani Total Gas Ltd.
Reliance (RIL): The company’s shareholders have voted in favour of the proposed scheme of arrangement between the company and Reliance Strategic Investments, thus paving way for demerger of the Financial Services arm.
SIS: The company’s Q4 net profit was down 4.4 per cent at Rs 93.10 crore for the quarter ended March 2023 as against Rs 97.40 crore in the corresponding quarter a year ago. Total income, however, was up 13.1 per cent YoY at Rs 2,995.70 crore.
Tata Chemicals: The company reported a 62 per cent YoY growth in consolidated profit at Rs 709 crore for the March quarter. Consolidated revenue from operations grew around 27 per cent YoY to Rs 4,407 crore.
Petronet LNG: The company reported a 18.1 per cent YoY decline in Q4 net profit at Rs 614.25 crore. In Q3, the company had reported highest-ever net of Rs 1,181 crore. Standalone revenue from operations, however, grew 24.3 per cent YoY to Rs 13,874 crore.
KEC International: The company reported a 35.6 per cent YoY fall in Q4 net at Rs 72.17 crore as against Rs 112.04 crore in Q4FY22. Total income, however, surged 29.3 per cent YoY to Rs 5,530.53 crore.
Cholamandalam Investment: The Murugappa Group company posted a 24 per cent YoY increase in net profit during the fourth quarter of 2022-23 to Rs 853 crore, as compared to Rs 690 crore during the same period in 2021-22. Net income rose 32 per cent YoY to Rs 2,060 crore.
Apollo Micro Systems: The stock to trade ex-date for 1:10 stock split from today onwards.
Sula Vineyards: Sula Vineyards has reported consolidated net profit of Rs 14.2 crore for the fourth quarter, higher by 5%. Revenue from operations rose 7% year-on-year to Rs 120 crore for the quarter under review.
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