Stocks to watch: The Nifty futures contract trading on the Singapore Exchange signals a positive start for domestic stocks. The contract traded at 18,148.50, up 24.5 points or 0.14% from the previous close.
Earnings Today: Aarti Industries, Apar Industries, Apollo Pipes, Avadh Sugar and Energy, Balkrishna Industries, Birlasoft, Canara Bank, Craftsman Automation, Exide Industires, Pidilite, UPL and VIP Industries are among the top companies reporting their Q4FY23 earnings on Monday, May 8 .
Aditya Birla Mode, TCNS: Aditya Birla Fashion and Retail (ABFRL) has entered into a definitive agreement to acquire a controlling stake (51 percent) in TCNS Clothing for Rs 1,650 crore.
Dr. Reddy’s Labs: Dr. Reddy’s Laboratories Ltd announced on Friday the launch of Regadenoson Injection, used as a means in imaging the heart muscle to control blood flow, in the US market.
PNC Infratech: The company has won an EPC project worth Rs 771.46 crore from Haryana Orbital Rail Corporation Limited.
Amara Raja Batteries: The company has been working on ‘Amara Raja Giga Corridor’ which aims to produce lithium cell and battery packs with final capacity of up to 16 GWh and up to 5 GWh respectively
Pay: The company on Friday posted a consolidated revenue of Rs 2,334 crore for the March quarter of FY23, a 51 percent increase from Rs 1,540 crore posted in the March quarter of FY22. The company’s loss narrowed to Rs 168 crore from Rs 763 crore in the period last year.
Coal India: Coal India Ltd, the world’s largest miner, on Sunday reported a 17.7 per cent drop in its net profit in the March quarter to Rs 5,527.62 crore, amid higher worker pay review provisions. Coal production rose 7 percent to 224.16 million tons in the quarter ended March 31.
Bank of India: The net profit of the public sector lender Bank of India (BoI) more than doubled year-on-year (YoY) to Rs 1,350 crore for the quarter ending March 2023 (Q4FY23) on improving net interest income ( NII). The board declared a dividend of Rs 2.0 per share (Rs 10 each) for FY23, subject to shareholder approval, the bank informed BSE.
Adani Power: The Adani Group company has recorded an increase of about 13 percent in its consolidated net profit of Rs 5,242 crore for the quarter 2022-23 March. However, the total income fell to Rs 10,795 crore from Rs 13,307 crore in the same quarter last year. The total cost was higher at Rs 9,897 crore compared to Rs 7,174 crore a year ago.
Britain: Britannia Industries’ net profit in the January-March quarter of FY23 rose 47.1 percent to Rs 558.7 crore, while earnings before interest, depreciation and tax (PBIDT) rose 42.7 percent. This came from mitigating input costs that helped operating margin. Nusli Wadia group company revenue rose 13.3 percent in the quarter to Rs 4,023.2 crore amid significant distribution gains.
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