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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 82 points higher at 18,065 on monday.

Infosys:

The company has collaborated with software provider SolarWinds to help the latter advance to a new SaaS model.

Vedanta/Hindustan Zinc:

Promoter of Vedanta had encumbered 8.05 crore shares of subsidiary Hindustan Zinc on April 28, representing 1.91% of the total share capital of the latter, for a loan to raise long-term working capital.

Bharti Airtel:

The Indian telecom major, along with Dialog Axiata Plc and Axiata Group Berhad, has signed a binding term sheet to combine operations of Bharti Airtel Lanka, the company’s wholly owned subsidiary with Dialog. The deal will see Bharti Airtel acquire a stake in Dialog, representing the fair value of Airtel Lanka.

Grasim Industries:

Operations had to be stopped at the company’s VSF manufacturing unit in Harihar, Karnataka. Production is expected to be resumed at the facility in three to four weeks’ time.

Godrej Consumer Products:

During its meeting scheduled on May 10, the board will also consider a proposal to raise up to Rs 5,000 crore via non-convertible debentures.

Q4 Results Update:

Tata Steel Q4 FY23 Revenue was down 9.18% at Rs 62,961.54 crore. Ebitda was down 51.97% at Rs 7,219.2 crore. Ebitda margin was at 11.47% vs 21.68% last year.

Ambuja Cements Q4 FY23 Standalone Revenue was up by 8.39% at Rs 4,256.31 crore. Ebitda was down by 0.64% at Rs 788.26 crore. Ebitda margin was at 18.52% vs 20.20% last year.

DCM Shriram Q4 FY23 Revenue was down 0.86% at Rs 2,848.65 crore. Ebitda was down 45.44% at Rs 346.22 crore. Ebitda margins stood at 12.15% vs 22.09% last year. Net profit was down 53.47% at Rs 186.67 crore The company has also declared a dividend of Rs 3.6 per share for the fiscal 2023

Q4 Results Today:

Petronet LNG, Adani Wilmar, Titan Company, KEC International, Havells India, Tata Chemicals, SIS, ABB India, Solar Industries, KPR Mill, Godrej Properties, Sona BLW Precision Forgings, Jyothy Labs, Anupam Rasayan, Aavas Financiers, Bajaj Consumer Care, MRF, Reliance Power, PNB Gilts, Cholamandalam Investment & Finance, Sula Vineyards, Foseco India, R Systems International, ISMT, Vishnu Chemicals.

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