Major benchmark indices are likely to start trading calmly amid mixed global signals. While US markets flattened gains and went into the red last night, Asian markets largely rose this Wednesday morning. Today, Infosys results and the extended weekend factor could weigh on market sentiment.
Infosys, Den Networks and Lesha Industries announced the results today. During the extended holiday weekend, Alok Textiles, Oriental Hotels, Welcure Drugs, HDFC Bank, ICICI Prudential Life and Integrated Capital Services are some of the notable companies to announce Q4 results.
The private sector lender is hopeful that the proposed merger with parent company HDFC will pave the way for its entry into global indices such as the MSCI and FTSE. In its investor presentation, the bank has made a case with an example of Saudi Aramco – even though the oil giant had a free float of only 0.5 percent.
Falguni Nayar, the chief executive officer and founder of beauty care company Nykaa, was named EY Entrepreneur of the Year 2021 on Tuesday. Nayar will now represent India at the EY World Entrepreneur of the Year Award on June 9.
The company’s chairman, Anil Agarwal, said Tuesday that the company, in partnership with Foxconn, will set up a semiconductor manufacturing plant over the next two years. He called signing the pact with Foxconn a “very big job,” and said the semiconductor industry will promote other sectors such as autos and electronics in the country.
Anand Rathi Wealth
The company reported a more than three-fold jump in net profit in the fourth quarter of Rs 34.80 crore for the quarter ended March 31, 2022 compared to Rs 10.09 crore in the corresponding quarter a year ago. Total income increased by 49.4 percent year-on-year to Rs 114.75 crore from Rs 76.81 crore in the same period.
Hathway Cable & Datacom
The company’s net profit in Q4FY22 fell 58.5% year-on-year to Rs 7 crore, from Rs 16.86 crore in Q4FY21. Total income also fell 2.1 percent to Rs 162.84 crore from Rs 166.36 crore.
Shriram City Union Finance
The company has set itself the target of increasing its gold loan book by nearly fourfold over the next five years to Rs 20,000 crore. The company hopes to achieve this through aggressive expansion in Northern India, following the completion of the current merger process.
According to sources, the microfinance institution backed by private equity fund Kedaara, and Padmaja Reddy, the company’s founder and former president, are moving toward some understanding about dues payment and related party settlement. Sources said talks between the company and Padmaja Reddy are ongoing.
The company has placed an order worth Rs. 522 crore for utility boilers and associated systems for a base refinery and petrochemical complex in Rajasthan. The order includes two units of 260 TPH high pressure utility boilers, along with related ancillary equipment, designed and manufactured by Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly owned subsidiary of Thermax.
The company has partnered with Intent IQ to increase the scale of growth and technical capabilities in various areas of the Adtech industry. The company expects a significant increase in sales of up to 30 percent as a result of this collaboration.
The company’s board of directors decided on April 12 to acquire 99 percent of the state’s Silvergrey Engineers, a partner company engaged in the manufacture and supply of parts and accessories to the defense equipment manufacturing industry. Furthermore, the board also announced its decision to diversify into real estate.
Stocks in F&O Ban: RBL Bank is the only stock in the F&O ban on Wednesday.
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