The Nifty futures contract traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 18,220.50, down 17.5 points or 0.10% from the previous close.
Earnings Watch: Aditya Birla Fashion Retail, Asian Hotels (East), BPCL, CESC, EIH, Finolex Industries, Gujarat Alkalies, HEG, Indiabulls Housing Finance, PB Fintech (PolicyBazaar), Ravalgaon Sugar, Keystone Realtors, Shree Cement, SJVN, Sun Pharma Advanced Research Company (SPARC) and Thangamayil Jewellery are few of the prominent companies scheduled to announce Q4 results on Monday.
Real-estate stocks: CEOs of top Indian companies are in wait-and-watch mode to see how the withdrawal of Rs 2,000 currency note from circulation impacts their businesses. While the real estate, which still has a large share of cash transactions, will be impacted the most, other sectors will have business as usual, say CEOs.
Adani Group: The Supreme Court-appointed committee has said market regulator Sebi and the Enforcement Directorate have found evidence of short selling and profiting following the Hindenburg Research report publication on January 24 and are investigating the role of six entities which indulged in short selling.
NTPC: The power generator’s Q4 net profit slipped 21.1 per cent year-on-year (YoY) to Rs 4,476 crore in the quarter ended March 2023. However, for FY23 net profit was up 5.6 per cent at Rs 17,197 crore, backed by a 34.5 per cent growth in total income.
Punjab National Bank (PNB): The state-run bank’s standalone net profit jumped 474 per cent YoY to Rs 1,159 crore in the January-March quarter (Q4) as its net interest income (difference between interest earned and interest expended) went up by 30 per cent to Rs 9,499 crore and provisions for non-performing assets (NPAs) went down by 21 per cent to Rs 3,625 crore.
Zomato: The company’s net loss narrowed to Rs 187.60 crore in Q4FY23. The net loss in Q4FY22 stood at Rs 359.70 crore. Revenue from operations surged 69.7 per cent YoY to Rs 2,056 crore.
JSW Steel: The steel maker reported a 13.3 per cent YoY rise in its consolidated net profit to Rs 3,664 crore in the March quarter of 2022-23 (Q4FY23), on higher sales volume. Consolidated revenue from operations grew marginally by 0.1 per cent to Rs 46,962 crore.
Siemens: Last week, the company’s board approved the sale of low voltage motors and geared motors businesses to a Siemens AG subsidiary – Siemens Large Drives India — for Rs 2,200 crore. Meanwhile, in a separate development the company announced the acquisition of the electric vehicle division of Mumbai-based Mass-Tech Controls for Rs 38 crore.
Zee Entertainment, IDBI Bank: The National Company Law Tribunal in Mumbai rejected on Friday IDBI Bank’s insolvency plea against Zee Entertainment, paving the way for the media company’s merger with rival Sony Entertainment. IDBI Bank had approached NCLT after the media firm defaulted on a Rs 149 crore loan.
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