Global sentiment remains upbeat this morning as investors digest a plethora of news. Wall Street’s major stock indexes, led by technology stocks, rebounded overnight in the United States. The Nasdaq Composite rose more than 3%, while the S&P 500 gained 1.5%.

Adani Enterprises: Reuters reported that Adani group entities paid coupons on outstanding dollar-denominated bonds as planned on Thursday. Adani Group plans to issue a credit report by Friday addressing concerns raised by the Hindenburg report on its liquidity, the report added.

Adani Ports, Adani Enterprises, Ambuja Cements: On Thursday, the National Stock Exchange (NSE) moved Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ) and Ambuja Cements to a stock class requiring up to 100% trading margin and subject to stricter scrutiny to curb short selling. The first phase of short-term additional supervisory measures (ST-ASM) will apply to these newly created positions from February 6.

Adani Power: Bangladesh is seeking to amend a 2017 power purchase agreement with Adani Power Ltd as coal-fired power appears too expensive, officials said in Dhaka on Thursday.

TVS Motor: The company informed exchanges on Thursday that it has invested $9.5 million in Ion Mobility to further its electrification agenda.

SBI Life: Addressing investor concerns over the latest budget proposal, SBI Life said the portfolio of annualised premium equivalent (APE) products is well diversified with 56.4% unit-linked, 27.4% non-unit-linked, 10.1% protected, 2.8% annuity and 3.3% group funds. For nine months of FY23, the share of unaffiliated policy business with annual premiums above Rs 5 lakh is less than 2% of the total APE. The company firmly believes that the impact is negligible.

HDFC Life: Likewise, HDFC Life clarified to investors that its annualised premium equivalent (APE) based product portfolio is well diversified across different product segments. Our preliminary assessment suggests that the business at risk could represent around 10-12% of total APE, with a lower impact on the value of a new business than on total APE, the company said. The company will work to develop mitigation measures to address the result in due course.

Berger Paints: Berger Paints India Ltd on Thursday reported a 20.47% drop in its consolidated net profit to Rs 201.17 crore for the third quarter ending December 2022. Operating income for the quarter rose 5.59% to Rs 2,693.59 crore.

Thomas Cook: The company’s consolidated operating income rose 105% YoY to Rs 1,536.3 crore in Q3FY23, with a pre-tax operating profit of Rs 58.4 crore against a loss of Rs 28.9 crore, reflecting a solid recovery and momentum across business segments. Its net profit was Rs 26.54 crore compared to a year-on-year loss of Rs 24.59 crore.

Fino Payments Bank: Fino Payments Bank on Thursday posted a 35.5% rise in net profit to Rs 19.1 crore in the December quarter, boosted by margin expansion. The Navi Mumbai-based payments bank said its revenue rose 14.2% to Rs 314.1 crore in the reported quarter.

Mahanagar Gas: The company reported total revenue of Rs 1,870.69 crore for the period ended December 31, 2022, as against Rs 1,144.72 crore last year. Net profit for the quarter was Rs 172.07 crore compared to a net profit of Rs 56.79 crore year-on-year.

Karnataka Bank: The private sector bank on Thursday reported a healthy 105% growth in net profit of Rs 301 crore in the third quarter of FY23. Compared with the previous quarter, the total net profit decreased from 3.36% to 3.28%. Meanwhile, net NPA fell to 1.6% from 1.72% in the last quarter.

Crompton Greaves Consumer Electricals: The company’s total revenue in Q3FY23 rose by about 8% to Rs 1,537.51 crore compared to Rs 1,424.63 crore in Q3FY22. Net profit, however, slipped 42.5% to Rs 85.25 crore, compared with a year-on-year net profit of Rs 148.26 crore.

I G Petrochemicals: The company’s board of directors has approved the establishment of a wholly-owned subsidiary. Once established, the proposed wholly-owned subsidiary will explore new opportunities in petrochemicals, marketing of petrochemical products and procurement of raw materials.

Inox Green Energy Services: The company has entered into a definitive investment agreement with independent O&M wind energy service provider I-Fox Windtechnik India Private Limited to acquire a majority stake. The deal is valued at Rs 35,947.71 per share.

Aavas Financiers: The lender reported a net profit of Rs 303.5 crore in Q3FY23, up 26% year-on-year. Management said that Sushil Kumar Agarwal would continue as managing director (MD) while Sachinder Pal Singh has been appointed chief executive officer (CEO).

Auto stocks: The price of lithium-ion batteries will drop soon, and the auto industry will not need any subsidies, Roads and Transport Minister Nitin Gadkari told a news channel on Thursday.

Likhitha Infra: The company has secured an order worth Rs 130 crore from GAIL (India).

Engineers India: EIL has been awarded an assignment by the Ministry of Housing and Urban Affairs (MoHUA) to “provide transaction advisory services for the establishment of large-scale bio methanation and waste-to-energy projects in selected cities of over 10,00,000”.

Lemon Tree Hotels: The company has signed a license agreement for the 83-room property in Bharuch, Gujarat. The hotel is expected to be operational by June 2025.

Tata Consumer Products: The company’s board of directors has approved the termination of its global depositary receipt (GDR) programme. The company’s global depositary receipts are listed on the London Stock Exchange and the Luxembourg Stock Exchange.

HDFC AMC: The company is receiving approval from Sebi to allow abrdn to reduce its stake to less than 10%. abrdn Investment Management Limited is one of the promoters, holding 10.21% of the stake.

Medico Remedies: The board of directors has approved the sub-division/ stock split of one company share into five equity shares.