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Market Updates

The Markets are expected to open marginally higher today as trend in SGX nifty indicate a positive start for the broader index after Nifty closed 111 points higher at 18,314 on monday.

ITI:

The company has received an advance purchase order worth Rs 3,889 crore from BSNL for planning, engineering, supply, installation, commissioning and AMC of 4G network for 23,633 sites in west zone of BSNL Network.

Vedanta:

The company announced the first interim dividend of Rs 18.50 per share for the financial year 2023-24, with a total outgo of Rs 6,877 crore.

JSW Steel:

The resolution plan of company’s subsidiary JSW Steel Coated Products for National Steel and Agro Industries has been approved by the NCLT. The company has also signed an MoU with JFE Steel, Japan to set up a cold rolled grain oriented electrical steel manufacturing joint venture in India.

Reliance Industries/Bharti Airtel/Vodafone Idea

Reliance Jio gained 3.05 million subscribers, whereas Bharti Airtel added 1.03 million users in March, as per TRAI data. Vodafone Idea lost 1.21 million users during the month.

Torrent Power:

The board of the company will consider raising Rs 3,000 crore via private placement of non-convertible debentures, along with the financial results for the March quarter and a final dividend for financial year 2022-23.

Q4 Results Update:

Bharat Petroleum Corporation Q4 FY23 Revenues were up 8% at Rs 1,33,419.56 crore. Ebitda was up 85.42% at Rs 11,084.79 crore. Ebitda margin stoodat 9.38% vs 5.73%. Net profit up 168.46% at Rs 6,870.47 crore.

Shree Cement Q4 FY23 Revenue were up 16.86% at Rs 5,100.19 crore. Ebitda was down 3.22% at Rs 889.20 crore. Ebitda margin stood at 17.43% vs 21.05%. Net profit was down 20% at Rs 525.77 crore.

PB Fintech Q4 FY23 Revenues were up 42.45% at Rs 869.09 crore. Ebitda loss of Rs 85.55 crore vs Rs 150.73 crore on QoQ basis. Net loss narrows to Rs 9.34 crore vs Rs 87.62 crore loss last quarter.

Q4 Results Today:

Ashok Lelyand, NMDC, Biocon, Dixon Technologies, Amara Raja Batteries, JSW Energy, Fortis Healthcare, Varroc Engineering, Bajaj Electricals, Galaxy Surfactants, GE T&D India, Gabriel India, Johnson Controls-Hitachi Air Conditioning India, Somany Ceramics, Metro Brands, Sequent Scientific, etc.

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