SGX Nifty recommends that Indian stocks start flat to higher on Friday. At 7:50 am, the index was up 19 points at 18,197. Elsewhere in Asia, the Nikkei rose 0.85%, the Kospi and ASX 200 each rose 0.5%, while the Hang Seng fell more than 1%.
Overnight, the three major US stock indexes closed higher for a second day in a row, with the Nasdaq up 1.51% to hit a 52-week high, while the S&P gained 0.94%. The Dow Jones Industrial Average rose 0.34%.
State Bank of India: State Bank of India (SBI) posted a stand-alone profit of 83.19% in the January-March quarter of FY23 to a record Rs 16,695 crore on Thursday, thanks to healthy net interest income (NII) and lower reserve. The previous best quarterly profit was Rs 14,205 crore in Q3FY23.
ITC: ITC Limited reported a 21.4% year-on-year rise in stand-alone net profit at Rs 5,086.9 crore in the March quarter. The company’s operating income (excluding excise duty) rose 5.6% year-on-year to Rs 16,398 crore from Rs 15,531 crore a year earlier. Both revenue and profit beat analysts’ expectations.
InterGlobe Aviation: InterGlobe Aviation, which runs India’s largest airline IndiGo, reported its highest-ever profit of Rs 919 crore in the fourth quarter of January-March FY23. During the same period in FY22, the airline posted a net loss of Rs 1,681 crore. For FY23, the airline posted a net loss of Rs 305 crore compared to a net loss of Rs 6,161 crore in the previous financial year.
Nexus Select Trust REIT: Nexus Select Trust REIT Ltd is likely to list on the exchange on Friday. The initial public offering (IPO) was subscribed 5.45 times.
Reliance Industries: Chinese fashion e-commerce platform Shein is expected to enter the Indian market for the second time and has partnered with Reliance Retail for this, Business Standard reported. As part of the tie-up, Shein will source goods from India for its global operations, the sources said.
Tata Motors: Britain is close to winning a major battery factory project as Tata Motors favours it over Spain, according to Bloomberg.
Thomas Cook: The ticket booking company shrank its net loss by more than 85% to Rs 7.01 crore in the March quarter on Thursday, compared with a loss of Rs 48.5 crore a year earlier. Its total revenue soared 150% year-on-year to Rs 1,324 crore.
PNB Housing Finance: PNB Housing Finance Limited, promoted by Punjab National Bank (PNB), posted a consolidated profit of Rs 279 crore for the March quarter on Thursday. The company statement said this represents an increase of 64.11% from Rs 170 crore a year ago. The company’s consolidated interest income rose 22.32% to Rs 1,589 crore in the March quarter, compared to Rs 1,299 crore a year earlier.
Pfizer: Pfizer said on Thursday it was recalling all batches of three antibacterial injectables made for it by Astral SteriTech Pvt Ltd in India. The voluntary recall could have an impact on the company’s revenue and profitability, it said in a statement to the Exchange filing. Pfizer said that sales of selected products for the year ended March 31, 2023, amounted to Rs 139 crore.
Tata Elxsi: The company on Thursday posted a consolidated net profit of Rs 202 crore for the March quarter. The company statement said that this represents an increase of 26.25% from Rs 160 crore a year ago. The company’s consolidated operating income rose 22.87% to Rs 838 crore in the March quarter compared to Rs 682 crore a year earlier.
Krishna Institute of Medical Sciences: The company achieved its highest-ever consolidated quarterly revenue (Rs 575.92 crore), Ebitda (Rs 168.13 crore), profit before tax (Rs 127.27 crore) and profit after tax (Rs 98.6 crore).
Container Corporation: Railway-owned Container Corporation of India (Concor) on Thursday announced a net profit of Rs 1,169 crore for FY23 and a final dividend of Rs 2 per share at a face value of Rs 5 per share. Concor posted a profit after tax (PAT) of Rs 278.5 crore in the fourth quarter on an operating income of Rs 2,166 crore.
United Spirits: Indian alcoholic beverage maker United Spirits Ltd on Thursday posted a consolidated net profit of Rs 204 crore for the March quarter, up 7.36% from the Rs 190 crore posted a year ago. The company’s consolidated operating income fell by 25.20% to Rs 5,783 crore during the study period.
Bata India: The footwear giant on Thursday reported a 4.5 per cent rise in stand-alone net profit to Rs 65.55 crore in the March quarter, compared to a net profit of Rs 62.7 crore reported in the same period of the previous fiscal year. Its revenue rose 17% to Rs 778.5 crore.
HT Media: The company posted a net loss of Rs 14.96 crore in Q4FY23, compared to a net profit of Rs 16.72 crore in the same period last year. The company’s operating net income stood at Rs 441.4 crore in the January-March quarter, up 4.87% year-on-year.
Jet Airways: The defunct airline on Thursday reported a consolidated net loss after tax of Rs 54.94 crore in the March quarter, compared with a net loss of Rs 234 crore posted a year ago. However, the company’s consolidated net income from operations rose 12.45% to Rs 12.37 crore in the March quarter.
UNO Minda: The board has considered obtaining a mandate from shareholders to raise funds through one or more securities issues of up to Rs 1,500 crore. In addition to this, the company notified the exchange through another document that the board of directors also approved a further investment of up to €1.1 million in the equity of Global Mazinkert S.L (the company’s overseas wholly-owned subsidiary) to support Global Mazinkert through long-term capital.
I G Petrochemicals: On Thursday, the company’s board of directors approved a foray into the production of biofuels such as compressed biogas and ethanol and its derivatives. Meanwhile, the company’s net profit fell to Rs 38.21 crore in the fourth quarter of FY23, compared to a net profit of Rs 73.63 crore reported last year. However, operating income rose to Rs 605 crore, compared to year-on-year growth of Rs 517.21 crore.
Nazara Technologies: The company’s subsidiary Nodwin Gaming has signed a final and binding agreement to raise Rs 232 crore from existing investors Nazara, Krafton and JetSynthesys as well as new investors.