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Market Updates

The Markets are expected to open marginally negative as trend in SGX nifty indicate negative start for the broader index after Nifty closed 165 points higher at 18,255 on thursday.

Zydus Lifesciences:

The company received approval from USFDA to manufacture and market Sucralfate tablets used to treat and prevent ulcers in intestines.

Bank of India/Future Lifestyle Fashions:

The National Company Law Tribunal admitted the plea of Bank of India to initiate insolvency proceedings against Future Lifestyle Fashions on alleged default of Rs 495.91 crore.

Manappuram Finance:

The Enforcement Directorate has frozen the company’s assets worth Rs 143 crore following searches at six premises belonging to the firm and its managing director VP Nandakumar, the probe agency said in a statement.

Raymond:

During its meeting scheduled on May 9, the board of the company will also consider raising Rs 2,200 crore via non-convertible debentures in two or more tranches for repayment of external debt.

PNB Housing Finance:

The board approved allotment of 9.06 crore rights equity shares at a price of Rs 275 apiece.

Q4 Results Update:

Adani Enterprises Q4 FY23 Revenue was up by 26.06% at Rs 31,346.05 crore. Ebitda grew by 184.14% at Rs 3,587.07 crore. Ebitda margin stood at 11.44% vs 5.08% Net profit up 137.41% at Rs 722.48 crore.

Hero MotoCorp Q4 FY23 Revenue was up by 12.51% at Rs 8,434.28 crore. Ebitda was up 31.34% at Rs 1,124.2 crore. Ebitda margin stood at 13.33% vs 11.42%.The board recommended a final dividend of Rs 35 per share for the fiscal 2023.

TVS Motor Company Q4 FY23 Revenue was up 21.96% at Rs 8,031.40 crore. Ebitda was up 26.95% at Rs 1,053.89 crore. Ebitda margin stood at 13.12% vs 12.61% last year.

Q4 Results Today:

Britannia Industries, Bharat Forge, Federal Bank, Marico, Gujarat Fluorochemicals, Alembic Pharmaceuticals, Piramal Enterprises, Blue Dart Express, Ajanta Pharma, Equitas Small Finance Bank, DCB Bank, Stylam Industries, Go Fashion India, Tatva Chintan Pharma Chem, KFin Technologies, Artemis Medicare Services, Tata Investment Corporation, Sundaram-Clayton.

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