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Market Updates

The Markets are expected to open marginally lower today as trend in SGX nifty indicate a negative start for the broader index after Nifty closed 33 points higher at 18,348 on tuesday.

Wipro:

The company will integrate Google Cloud’s full suite of Generative AI products and services with its own AI intellectual property to bring the same to its clients.

Ipca Laboratories/Lyka Labs:

Ipca Laboratories has increased its shareholding in Lyka Labs by 9.76% in two tranches. It bought 44 lakh shares at Rs 139.50 apiece on March 15 and April 18. Ipca now holds 1.20 crore share of Lyka, or 36.34% of latter’s overall shareholding.

Century Textiles:

The company will raise Rs 400 crore via non-convertible debentures on private placement basis.

NTPC:

The power company aims to add 16 GW of renewable capacity by the fiscal ended 2026, the management said during its recent earnings call.

Shriram Properties:

The company has acquired 100% development rights for an ongoing project at Chennai through its wholly owned subsidiary Shrivision Elevations. The project has a revenue potential of Rs 1,200 crore over next five year.

Q4 Results Update:

NMDC Q4 FY23 Revenue was down 13.76% at Rs 5,851.37 crore. Ebitda was also down 20.63% at Rs 2,162.35 crore. Ebitda margin stood at 36.95% vs 40.15% last year. Net profit was up 21.7% at Rs 2,271.53 crore.

Ashok Leyland Q4 FY23 Revenue rose 33% to Rs 11,625.7 crore. Ebitda rose 64% to Rs 1,275.8 crore. EBITDA margin stood at 11% Vs 8.9% last year. Net profit fell 17% to Rs 751.4 crore. The board recommended a dividend of Rs 2.60 per share for the fiscal ended 2023.

Biocon Q4 FY23 Revenue rose 57% at Rs 3,773 crore. Ebitda was up 69% to Rs 997 crore. Ebitda margin stood at 26.4% vs 24.6% last year. Net profit up 31% to Rs 313 crore.

Q4 Results Today:

Hindalco Industries, Shyam Metalics and Energy, National Aluminium Co., Piramal Pharma, Cummins India, FSN E-Commerce Ventures, Avanti Feeds, Bayer CropScience, Brigade Enterprises, JB Chemicals & Pharmaceuticals, Pennar Industries, Fine Organic Industries, Garden Reach Shipbuilders & Engineers, Caplin Point Laboratories, Prudent Corporate Advisory Services, ICRA, Wonderla Holidays, Aptech, Ashoka Buildcon, etc.

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