Infosys, HDFC Bank, Tata Steel, TVS Motors, and Others

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The key benchmark indices are likely to start trade on a quiet note amid mixed global cues. While the US markets pared gains and slipped into red last night, Asian markets were mostly up this Wednesday morning. Today, Infosys results and the extended weekend factor could weigh on the market sentiment.

Earnings Today

Infosys, Den Networks and Lesha Industries to announce results today. Over the extended holiday weekend, Alok Textiles, Oriental Hotels, Welcure Drugs, HDFC Bank, ICICI Prudential Life and Integrated Capital Services are some of the notable companies to announce Q4 results.

HDFC Bank

The private sector lender is hopeful that the proposed merger with the parent HDFC will pave the way for its entry into global indices such as the MSCI and FTSE. The bank in its investor presentation has made a case citing an example of Saudi Aramco – even though the oil giant had a free float of just 0.5 per cent.

Nykaa

Falguni Nayar, the chief executive officer and founder of beauty supply company Nykaa, has been named the EY Entrepreneur of the Year for 2021 on Tuesday. Nayar will now represent India at the EY World Entrepreneur of the Year Award on June 9.

Vedanta

The company’s chairman Anil Agarwal on Tuesday said that the company in partnership with Foxconn will set up a semiconductor manufacturing plant in the next two years. He termed the signing up of the pact with Foxconn as a “very big job”, and said that the semiconductor industry will promote other sectors like automobiles and electronics in the country.

Anand Rathi Wealth

The company reported more than three-fold jump in Q4 net profit at Rs 34.80 crore for the quarter ended March 31, 2022 when compared with Rs 10.09 crore in the corresponding quarter a year ago. Total income was up 49.4 per cent YoY at Rs 114.75 crore from Rs 76.81 crore in the same period.

Hathway Cable & Datacom

The company’s Q4FY22 net profit plunged 58.5 per cent YoY to Rs 7 crore as against Rs 16.86 crore in Q4FY21. Total income also declined by 2.1 per cent to Rs 162.84 crore from Rs 166.36 crore.

Shriram City Union Finance

The company has set a target of increasing its gold loan book by nearly four-fold to Rs 20,000 crore in the next five years. The company hopes to achieve this through aggressive expansion in North India, after the completion of the current merger process.

Spandana Sphoorthy

According to sources, the microfinance institution backed by private equity fund Kedaara, and Padmaja Reddy, its founder and former managing director are moving towards some understanding on payment of dues and clearing related party transactions. Sources said the conversations are ongoing between the company and Padmaja Reddy.

Thermax

The company has bagged an order worth Rs. 522 crore for utility boilers and associated systems for a grass root refinery and petrochemical complex in Rajasthan. The order includes two units of 260 TPH high pressure utility boilers along with allied auxiliaries to be designed and manufactured by Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of Thermax.

Brightcom

The company has partnered with Intent IQ to enhance growth scale & tech capabilities in various areas of the Adtech Industry. The company expects significant increase in revenues up to 30 per cent through this partnership.

Jaykay Enterprises

The company’s board on April 12 decided to acquire 99 per cent state in Silvergrey Engineers a partnership firm engaged in manufacturing and supply of parts and accessories to defence equipment manufacturing industry. Further, the board also announced its decision to diversify into real estate.

Stocks in F&O ban: RBL Bank is the only stock in the F&O ban period on Wednesday.

Disclaimer:Disclaimer: The views and investment tips by 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 taking any investment decisions.

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