Nifty futures on the Singapore Exchange traded 37.50 points, or 0.23 per cent, higher at 16,136.50, signaling that Dalal Street was headed for a positive start on Wednesday. While Dow recouped most of the losses, Nasdaq ended near the lows of the day. Market benchmarks racked up losses for the second straight session on Tuesday, in tandem with a lacklustre trend in global equities as worries about economic recovery and inflation kept sentiment subdued. The 30-share BSE Sensex opened higher but could not carry forward the momentum in see-saw trade. It finally closed 236 points or 0.43 per cent lower at 54,052.61. On similar lines, the broader NSE Nifty dropped 89.55 points or 0.55 per cent to end at 16,125.15.
Results
A total of 223 companies will be announcing the March quarter results today, prominent among these are – AIA Engineering, Apollo Hospitals, Bata India, BPCL, Coal India, Deepak Fertilisers, Delta Corp, Easy Trip Planners, Fortis Healthcare, National Aluminium, NHPC, Power Finance Corporation, Religare Enterprises, Suzlon, Torrent Pharma, Voltamp Transformers and Whirlpool India.
Sugar Stocks
The government on Tuesday imposed restrictions on sugar exports from June 1, a move aimed at increasing the availability of the commodity in the domestic market and curbing price rise. However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ. Further, the government exempted customs duty and the agri cess on importing 2 MT of soybean and sunflower oil per year.
Balrampur Chini
The company reported a 16.2 per cent growth in Q4FY22 net profit at Rs 359.34 crore when compared with Rs 309.27 crore in Q4FY21. Total income increased by 24.9 per cent to Rs 1,291.37 crore from Rs 1,033.78 crore.
Adani Ports
The company’s Q4 net profit fell 21.8 per cent to Rs 1,033.02 crore in the quarter ended March 2022 as against Rs 1,320.69 crore in the corresponding quarter a year ago. Total income was up 8.5 per cent at Rs 4,417.87 crore from Rs 4,072.42 crore.
Latent View Analytics
The company posted a 49.6 per cent surge in Q4 net profit at Rs 35.57 crore in the quarter ended March 2022 when compared to Rs 23.78 crore in the year ago period. Total income also jumped 49.3 per cent on YoY basis to Rs 125.36 crore.
NTPC
The state-owned company will see its fuel cost go up to Rs 7-8 per unit by importing coal against Rs 2 per unit by buying in the domestic market from Coal India. Senior officials said this would increase the final tariff of NTPC by 50-70 paise and it will be passed on to electricity consumers.
Coal India
The company eyes 12 per cent growth in its production during the current financial year as it opens new mines to tackle the incremental demand for coal from the power sector. The firm said it has received environmental clearance for 20 proposals, which shall add an incremental capacity of 22 MT per year.
Strides Pharma
The company’s EBITDA plunged 71.2 per cent to Rs 46.10 crore in Q4FY22 when compared with Rs 160.20 crore in Q4FY21. Total income was also down 4.6 per cent at Rs 869.90 crore from Rs 911.50 crore.
Metropolis Heathcare
The company’s net profit grew 2.5 times to Rs 63.11 crore in the quarter ended March 2022 when compared with Rs 24.86 crore in the quarter ended March 2021. Total income rose 22.8 per cent to Rs 262.48 crore from Rs 213.68 crore.
Future Group
Four listed firms of the Kishiore Biyani-led Future Group – Future Retail, Future Lifestyle Fashion, Future Supply Chain Solutions and Future Enterprises – expressed their inability to convene a board meeting before May 30 to approve their financial results for the quarter and year ended March 31 on account of vacant positions on their respective boards.
Grasim
The Aditya Birla group company plans to invest Rs 10,000 crore in the paints business in the next three years in order to take on current market leader Asian Paints, and new entrants such as JSW.
RITES
The company’s Q4 net profit slipped 3.5 per cent to Rs 129.88 crore in the quarter ended March 2022 as against Rs 134.56 crore in the same quarter a year ago. Total income, however, was up 20.9 per cent at Rs 764.69 crore from Rs 632.42 crore.
Muthoot Finance
The NBFC plans to raise up to Rs 300 crore via bonds, the funds will be utilised primarily for lending activities of the company. The issue opens on May 25 and closes on June 17.
Zee
The entertainment major signed a long-term global media broadcasting rights for UAE T20 league. The deal is estimated to be around Rs 800-900 crore for ten years, according to industry sources. The UAE T20 League will air exclusively on Zee’s television channels and its over-the-top (OTT) platform ZEE5.
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