Stocks to Watch Today: The Nifty futures contract traded on the Singapore Exchange signifies a constructive begin to home equities. The contract was buying and selling at 17,794.50, up 35.5 factors or 0.20% from the earlier shut.
Results Today
Bajaj Auto, Nestle India, Tata Consumer Products, and HDFC AMC will likely be in focus at present as the businesses will announce their fourth-quarter outcomes.
HDFC Bank: HDFC Bank on Monday introduced that it to purchase a 20% or extra stake in Griha Pte, a wholly-owned subsidiary of HDFC Investments, after it obtained regulatory clearance from the Monetary Authority of Singapore (MAS). This would lead to HDFC Bank buying or holding, straight or not directly, 20% or extra of the issued share capital of Griha Pte; or controlling, straight or not directly, 20% or extra of Griha Pte, stated HDFC Bank in a regulatory submitting.
Reliance Industries/Bharti Airtel: Telecom operators are unlikely to increase tariffs within the present fiscal yr due to intensifying competitors within the postpaid section and looming normal elections, weighing on common income per consumer (ARPU), in accordance to analysts and business insiders, who count on value hikes to now occur solely in FY25. Analysts at Emkay India Equities Research famous the necessity for a rise in tariffs since telcos weren’t incomes the required charge of return and would have to get well the investments made in direction of implementing 5G networks.
LIC: Life Insurance Corporation (LIC) on Monday knowledgeable that its premium for the fiscal yr 2022-23 rose by 17% to Rs 2.32 lakh crore. During the earlier yr, the premium quantity stood at Rs 1.99 lakh crore. The knowledge from LIC indicated that the personal insurers collected a substantial quantity of premium in March due to last-minute buyer rush. The rush was noticed as clients needed to get the advantages forward of the 1 April withdrawal of tax exemptions for non-linked insurance policies. In phrases of premiums collected, it continues to maintain a market share of 62.58% as on March 2023, LIC stated in a press release.
Vedanta: Anil Agarwal-promoted Vedanta Resources Ltd, the mum or dad firm of Vedanta Ltd, introduced on Monday that it has paid off all maturing loans and bonds due in April, lowering its gross debt by an extra $1 billion. “Vedanta has now diminished debt by $3 billion because it introduced in February 2022 its intention to speed up deleveraging and scale back its debt by $4 billion inside 3 years. Vedanta has thereby achieved 75% of its dedicated discount in simply 14 months,” the company said in a statement.
ICICI Prudential: ICICI Prudential Life Insurance and Bajaj Allianz have been issued show-cause notices for evading taxes since 2017, as a part of an Income Tax Department probe spanning 16 insurers for evading about Rs 5,000 crore in unpaid dues, information company Reuters reported. The DGGI officers have estimated that the insurance coverage firms underneath probe owe about Rs 5,000 crore in unpaid taxes, curiosity and penalties since July 2017, when the federal government applied the GST, the report stated.
Century Textiles: Century Textiles and Industries Ltd, the flagship firm of Aditya Birla Group, reported a 68.8% year-on-year (YoY) rise within the consolidated revenue at Rs 145.27 crore for the fourth quarter ended March 31, 2023. Century Textiles posted a consolidated web revenue of Rs 86.07 crore within the corresponding quarter of the earlier monetary yr (Q4FY22). The textile and paper manufacturing and export unit has reported income from operations of Rs 1,208.54 crore within the fourth quarter as towards Rs 1,210.72 crore a yr in the past interval.
IPCA Lab/Unichem Lab: IPCA Laboratories Ltd has signed a definitive settlement with Unichem Laboratories Ltd to purchase a 33.38% stake for Rs 1,034.06 crore on Monday, in accordance to an alternate submitting. In a regulatory assertion, the corporate that manufactures Pacimol paracetamol tablets additionally acknowledged that it could make an open supply to Unichem’s shareholders to purchase an extra 26% curiosity for Rs 805.44 crore. After receiving approval from the Competition Commission of India in accordance with the Competition Act, 2002, the shares can be bought for Rs 440 per share.
Crompton Greaves Consumer Electricals: Crompton Greaves Consumer Electricals Ltd on 24 April elevated Shantanu Khosla because the Executive Vice-Chairman, whereas in one other announcement stated that it’s appointed ex-Temasek India Deputy Head Promeet Ghosh because the Managing Director & CEO. Earlier, citing his perusal for different profession pursuits, the agency’s CEO and Executive Director, Mathew Job, has resigned. He will step down as the manager director with impact from the shut of enterprise hours on Monday, and because the CEO with impact from the shut of enterprise hours on 30 April, 2023.
Mahindra Logistics: Mahindra Logistics Ltd reported a consolidated web loss after tax of Rs 82 lakh for the quarter ending March 2023. The logistics arm of Mahindra Group braced a tough quarter with greater working bills in a weak-demand atmosphere. The This autumn outcomes are in stark distinction to the Rs 7.4 crore revenue, the corporate made a yr in the past. According to analysts, third-party logistics suppliers like Mahindra Logistics are encountering difficulties due to a lower in demand attributable to diminished exercise in e-commerce and client sturdy segments.
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