The SGX Nifty signaled that domestic benchmark indices NSE Nifty and BSE Sensex might open on a negative note, as Nifty futures traded 58.5 points lower at 18,291.5 on the Singaporean exchange. Nifty and Sensex closed Thursday’s session flat. Nifty gave up the 18,300 mark, closing 0.09% lower at 18,297, while Sensex dropped 35 points to settle at 61,904.
“The current market rally has been largely influenced by consistent FII inflows, driven by lower treasury yields and the weakness of the US Dollar. However, the gains in the domestic market were tempered by weak earnings reported by a few heavyweight companies. On the global front, markets remained positive as US inflation eased below 5%, providing reassurance to investors that the Fed’s rate hike measures have been effective in managing inflation levels,” said Vinod Nair, Head of Research, Geojit Financial Services.
Mankind Pharma
The IT department raided Mankind Pharmaceuticals office on Thursday on allegations of tax evasion. However, Mankind Pharma has stated in a stock exchange filing that there will be no impact of the IT raids on its operational performance.
Eicher Motors
Eicher Motors reported its consolidated net profit increased by 49% to Rs 906 crore for the fourth quarter ended March 31, 2023, on the back of robust sales across domestic and global markets.
Aditya Birla Capital
Aditya Birla Capital posted a consolidated net profit of Rs 609 crore for Q4FY23, a rise of 35.3%. The revenue of the financial services company came in at Rs 9,146 crore in the fourth quarter, reporting a growth of 31% on-year.
BSE
BSE reported a 24% jump in net profit to Rs 88.61 crore for the quarter ended March, compared to the net profit of Rs 71.52 crore in the corresponding quarter in the previous year.
Dr Lal Pathlabs
Dr Lal PathLabs’ consolidated profit after tax declined 8% to Rs 57 crore for the fourth quarter ended March 31, 2023 versus a net profit of Rs 62 crore on-year.
Hindustan Copper
Hindustan Copper plans to raise around Rs 548 crore through various financial routes. This matter will be taken up at the company’s board meeting next week on 19 May, 2023.
Vodafone Idea, Bharti Airtel, Reliance Industries
According to data from TRAI, Reliance Jio registered a growth of 10.05 lakh subscribers in February, whereas Bharti Airtel saw an increase of 9.83 lakh users during the same period. On the other hand, Vodafone Idea witnessed a decline of 10.26 lakh subscribers in the month under review.
Paytm
SoftBank arm, SVF India Holdings (Cayman) has offloaded 13,103,148 shares on Paytm between February 10, 2023, and May 8, 2023. This clocked in at about 2% of their stake and SoftBank will still be left with 11.17%.