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Market Updates

The Markets are expected to open flat or marginally negative as trend in SGX nifty indicate flat start for the broader index after Nifty closed 25 points higher at 17,769 on tuesday.

KPI Green Energy: The company commissioned a 26.1 MW wind-solar hybrid power project at Bhungar site in Bhavnagar under Gujarat Wind-Solar Hybrid Power Policy, 2018.

UCO Bank: The board will convene on May 2 to consider raising equity capital via follow-on public offer, qualified institutions placement, preferential issue, etc. for the fiscal 2024. The board will also consider the financial result for the quarter and year ended March 2023, as well as dividend for the fiscal 2023.

JSW Holdings: The company denied reports claiming that it is in talks to acquire stock in auto companies BYD India and MG Motor India.

Cipla: The company will dissolve wholly owned step-down subsidiary Madison Pharmaceuticals with effect from April 28. Madison is a dormant entity, and its dissolution will not affect the performance or revenue of the company, Cipla said.

Thermax: The company liquidated wholly owned subsidiary Thermax Sustainable Energy Solutions as per the order by Mumbai bench of National Company Law Tribunal. The voluntary liquidation will not have any impact on the financial, the company said.

Q4 Results Update: Bajaj Auto Q4 FY23 Revenue rose 12% to Rs 8,904.7 crore. Ebitda rose 26% to Rs 1,716.6 crore while Ebitda margin stood at 19.28% vs 19.07% last year. Net profit fell 2% to Rs 1,432.9 crore.

Tata Consumer Products Q4 FY23 Revenue was up by 14% at Rs 3,618.73 crore. Ebitda up 15% to Rs 511.67 crore and Ebitda margin was at 14.1% Vs 13.9%. Net profit was up by 23% at Rs 268.59 crore.

Tata Steel Long Products Q4 FY23 Revenue was up by 42.76% at Rs 3,015.81 crore. EBITDA loss narrows to Rs 41.99 crore from Ebitda loss of Rs 372.05 crore. Net loss narrows to Rs 501.63 crore from loss of Rs 769.53 crore.

Q4 Results Today: Maruti Suzuki India, SBI Life Insurance Company, HDFC Life Insurance, Voltas, UTI Asset Management Company, Bajaj Finance, L&T Technology Services, IIFL Finance, Can Fin Homes, Indus Towers, JTL Industries, KPIT Technologies, Poonawalla Fincorp, Oracle Financial Services Software etc.

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