The Indian stock market is expected to open in the green as trends on SGX Nifty point to a positive open for the broader index in India with a gain of 58 points. Bulls made a strong comeback on April 28, the last of the F&O contracts for the April series, after a one percent day loss. Positive global signals and purchases by FIIs lifted sentiment. The BSE Sensex rose 702 points or 1.23 percent to 57,521, while the Nifty50 rose 207 points or 1.21 percent to 17,245.
Results today
Maruti Suzuki India, IndusInd Bank, UltraTech Cement, Wipro, SBI Cards and Payment Services, Can Fin Homes, Geojit Financial Services, Gillette India, GNA Axles, Gokaldas Exports, HFCL, Just Dial, L&T Finance Holdings, Lloyds Metals and Energy, RPG Life Sciences, Shriram City Union Finance, Solara Active Pharma Sciences, Sonata Software, Star Health and Allied Insurance Company, Supreme Industries, Tanla Platforms, Tata Chemicals and Thyrocare Technologies will release their quarterly results on April 29.
Ash bank
The private sector lender recorded a massive 54 percent year-over-year growth in standalone profits of Rs 4,118 crore, largely driven by a significant decline in provisions and improved asset quality performance for the quarter ended March 2022. Axis Bank’s net interest income rose 16.7 percent year-over-year to Rs 8,819 crore with credit growth of 15 percent and deposit growth of 19 percent for the March 2022 quarter.
IIFL Finance
The company posted nearly 30 percent year-over-year growth in consolidated profit of Rs 321 crore on healthy growth in sales and operating profit. Revenue from operations grew 16 percent during the quarter to Rs 1,856.2 crore compared to the same period a year ago.
biocon
The company reported a higher than estimated net profit of Rs 284 crore in Q4 FY22 while revenue came in at Rs 2,409 crore, which was also slightly above estimates.
Vedanta
Vedanta recorded a 4.8 percent year-over-year decline in net profit to Rs 7,261 crore for the fourth quarter ended March 31, 2022. In the corresponding quarter last year, the company posted a net profit of Rs 7,629 crore. The company achieved the highest ever consolidated EBITDA of Rs 13,768 crore in 4QFY22. This is 51 percent year-over-year growth and 26 percent quarter-on-quarter growth, while the EBITDA margin was robust at 39 percent.
Fineotex Chemical
The group’s after-tax profit is up 42 percent year-over-year to Rs 17 crore on strong sales and operating income. Revenue increased 62 percent year-on-year to Rs 121.4 crore in the quarter ended March 2022, and operating EBITDA increased 67 percent to Rs 21.52 crore in the same period.
Ambuja cements
Profits fell sharply at 30.3 percent year-on-year to Rs 856.5 crore due to higher energy and fuel costs and moderate sales growth in the quarter ended March 2022. Sales rose 2.4 percent to Rs. 7,900 crores.
Vedanta
Vedanta-owned billionaire Anil Agarwal reported a 5 percent year-on-year decline in consolidated profit of Rs 7,261 crore in the quarter ended March 2022, impacted by higher tax costs and expenses, supported by healthy sales and operating income. Revenue during the quarter grew 41 percent year-on-year to Rs 39,342 crore and there was an all-time high quarterly EBITDA at Rs 13,768 crore in Q4FY22, which was up 51 percent year on year, driven by higher volumes, operational efficiencies and supportive raw material prices. The company announced the first interim dividend of Rs 31.5 per share for the fiscal year 2022-23.
Sterlite Technologies
The company said in a BSE filing that the board has agreed to raise funds up to Rs 1,000 crore.
Tata Power Company
The company has partnered with the National Real Estate Development Council to install 5,000 electric vehicle charging stations in Maharashtra
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