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Market Updates

The Markets are expected to open marginally flat as trend in SGX nifty indicate a mildly positive start for the broader index after Nifty closed flat at 18,266 on tuesday.

Raymond:

The company will raise Rs 2,200 crore by issuing non-convertible debentures to Raymond Consumer Care for repayment of external debt.

IRB Infrastructure Developers:

The company reported 18.76% year-on-year increase in toll collection during April 2023 at Rs 388.42 crore. Toll collection by wholly owned subsidiaries increased 16.5% year-on-year to Rs 194.52 crore, while that by joint ventures entities under IRB Infrastructure Trust grew 4.3% to Rs 193.90 crore.

Greaves Cotton:

The company completed first stage of acquisition of 60% shareholding in Excel Controlinkage.

Nazara Technologies:

The company will invest Rs 15 crore in subsidiary Next Wave Multimedia by acquiring 19.5% stake from promoters.

Hindustan Petroleum Corporation/Life Insurance Corporation of India:

The insurance major increased its shareholding in the state-run refiner to 5.013% from 4.901%.

Q4 Results Update:

Apollo Tyres Q4 FY23 Revenue was up 11.99% at Rs 6,247.33 crore. Ebitda rose 59.4% at Rs 998.45 crore. Ebitda margin stood at 15.98% vs 11.23% last year. Net profit was up 276.73% at Rs 427.4 crore.The board recommended a final dividend of Rs 4 per share and special dividend of Rs 0.50 per share, aggregating to Rs 4.50 per share and a total outgo of Rs 285.80 crore.

Lupin Q4 FY23 Revenue was up 14.09% at Rs 4,430.08 crore. Ebitda was up 165.38% at Rs 604.05 crore. Ebitda margin stood at 13.64 % vs 5.86% last year. Net profit stood at Rs 235.96 crore vs net loss of Rs 517.98 crore last year.

Lupin Q4 FY23 Revenue was up 14.09% at Rs 4,430.08 crore. Ebitda was up 165.38% at Rs 604.05 crore. Ebitda margin stood at 13.64 % vs 5.86% last year. Net profit stood at Rs 235.96 crore vs net loss of Rs 517.98 crore last year.

Q4 Results Today:

Larsen & Toubro, Dr Reddy's Laboratories, Gujarat Gas, Godrej Consumer Products, Prism Johnson, Procter & Gamble Hygiene & Health Care, Relaxo Footwears, Sanofi India, Sagar Cements, Cera Sanitaryware, BASF India, Bosch, Escorts Kubota, Gokul Agro Resources, HG Infra Engineering, JBM Auto.

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