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Market Updates

The markets are expected to open on a positive note, as trends in the SGX Nifty indicate a mildly positive start for the broader index after Nifty closed flat at 17,624 on friday.

HDFC Asset Management Company: The company received the final approval from markets regulator SEBI for change in control from HDFC to HDFC Bank. The move was necessitated due to change in co-sponsor of HDFC Mutual Fund, on account of amalgamation of HDFC with and into HDFC Bank.

Mahindra & Mahindra Financial Services: The company raised Rs 682 crore via allotment of non-convertible debentures on private placement basis.

Wipro: The company's board of directors will consider the proposal over its meeting on April 26-27. The decision regarding buyback of equity shares will be communicated on April 27.

Reliance Retail: Reliance Retail has entered into a joint venture with a Haryana-based firm for local manufacturing to meet the growing demand. The company has entered into a joint venture with Sonipat, Haryanabased Circle E Retail to vertically integrate its toy business.

MG Motor India: MG Motor India expects 30% of its sales to accrue from the electric vehicle segment this year as it gears up to introduce its second offering in the vertical next month, according to the company's President and Managing Director Rajeev Chaba.

Q4 Earnings Results: Reliance Industries Q4 FY23 Revenue fell 1.91% to Rs 2,16,376 crore, Ebitda rose 9% to Rs 38,440 with Ebitda margin at 17.76% vs 15.9% previous year. Net profit rose 19.8% to Rs 21,327 crore.

ICICI Bank Q4 FY23 Net Profit stood at Rs 9121 crore vs Rs 7019 crore YoY NII wsa at Rs 17667 crore vs Rs 12605 crore previous year. GNPA was at 2.81% vs 3.07% (QoQ) and NNPA stood at 0.48% vs 0.55% (QoQ) basis. The bank will raise Rs 25,000 crore through private placement of non-convertible debentures.

Tejas Networks Q4 FY 23 Revenues were up by 136.62% at Rs 299.32 crore. EBITDA loss narrows to Rs 8.19 crore vs Ebitda loss of Rs 88.11 crore previous year. Net loss narrows to Rs 11.47 crore vs loss of Rs 49.62 crore last year.

Q4 Results Today: IndusInd Bank, Persistent Systems, Bank of Maharashtra, Mahindra Logistics, Century Textiles & Industries, IIFL Securities, Maharashtra Scooters, NELCO, Tamilnad Mercantile Bank, Tata Teleservices.

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