• Thu. Jun 8th, 2023

Titan, IndiGo, Tata Steel, Bharti Airtel, Coforge, Adani Gas and others


May 3, 2023

Last update: May 03, 2023, 08:20 IST

The Nifty futures contract traded on the Singapore Stock Exchange indicates a negative start for domestic equities. The contract was trading at 18,144.50, down 80 points or 0.44% from the previous close.

Revenue monitoring: ABB India, Godrej Properties, Havells India, Jyothy Labs, MRF, KEC International, Petronet, Sona BLW, Sula Vineyards, Tata Chemicals and Titan are some of the top companies expected to announce March quarter results on Wednesday.

Aviation: Airline shares will be in focus today after Wadia-owned Go First filed for bankruptcy, due to a cash crunch stemming from the grounding of nearly half of its 57 planes. The airline blamed engine maker Pratt & Whitney outright for the decision and suspended all flights until Thursday.

Tata Steel: The major steelmaker reported an 82.5% year-on-year drop in consolidated net profit to Rs 1,704.86 crore for the fourth quarter of FY23 as the spread of steel in the regions was hit. Revenue fell by 9.2% to Rs 62,961.54 crore. The revenue and profit figures, however, exceeded expectations.

Bharti Airtel: The telecommunications company headed by Sunil Mittal, which began operations in Sri Lanka in 2009, has announced the merger of Bharti Airtel Lanka’s operations with Dialog – a subsidiary of Malaysian multinational telecommunications conglomerate Axiata Group Berhad. The move is expected to give Airtel access to a larger user base in the island nation.

PSB: Punjab & Sind Bank’s net profit jumped 32% year-on-year to Rs 457 crore in the January-March quarter (Q4) as its interest income rose 17% to Rs 2,105 crores of rupees.

Max Health Institute: The company moved the Bombay High Court against Touch Healthcare, Quality Care India and Evercare Group management for alleged breach of contract after its (Max) bid to acquire Care Hospitals was turned down.

Sugar: Cooperative sugar mills have written to Prime Minister Narendra Modi asking for an increase in the minimum selling price (MSP) for sugar to improve their cash flow, which would make it easier to pay cane royalties paid to growers. The cooperative factories want the MSP to be increased from the existing 31 rupees per kilogram to at least 37.20 to 39.70 rupees, in line with past increases in the fair and remunerative price (FRP) of sugar cane.

Adani Total Gas: Adani Total Gas reported consolidated net profit of Rs 98 crore for the quarter ended March, up 21% from the prior year period

Coforged: Promoter Baring Private Equity Asia sold 3.5% of its stake in Coforge Ltd via the open market for Rs 887 crore.

UCO Bank: Public sector lender UCO Bank recorded its highest ever net profit of Rs 1,862.34 crore for the fourth quarter

Hindustan Zinc: Hindustan Zinc’s proposal to buy certain zinc assets from Vedanta Group for $2.98 billion in cash has lapsed as the Indian miner failed to win shareholder approval within the stipulated time frame, Reuters reported.

Disclaimer:Disclaimer: The views and investment advice of the experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before making any investment decision.

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