Maruti, Bajaj Finance, Glenmark Pharma, IHCL, Raymond are in Focus

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Tepid global cues and subdued foreign money flow can break the domestic market’s four-day winning streak. At 7:15 am, the SGX Nifty was at 17,756, down more than 30 points.

Globally, US markets edged lower overnight after an earnings report from regional lender First Republic Bank raised concerns about the broader industry. All three indexes – the Dow, the Nasdaq Composite and the S&P 500 fell more than 1%.

Bajaj Auto: The two-wheeler giant’s profit after tax (PAT) fell 2% to Rs 1,433 crore in Q4FY23, despite a 12% year-on-year rise in revenue to Rs 8,905 crore. The company said fourth-quarter revenue growth was driven by continued growth in its domestic business, where volumes rose more than 50% year-over-year.

Tata Consumer: The company’s net profit rose 23.5% YoY to Rs 268.6 crore due to strong operating performance in Q4FY23. Meanwhile, revenue rose 14% to Rs 3,618.7 crore, driven by a 15% rise in India and a 6% growth in international business.

AU Small Finance Bank: The lender reported a 23% year-on-year rise in net profit to Rs 425 crore in Q4FY23 on the back of healthy growth in net interest income. Net interest income (NII) also rose 30% year-on-year to Rs 1,213 crore in the March quarter.

HDFC AMC: The asset management company’s net profit rose 9.5% year-on-year to Rs 376 crore in Q4FY23. Operating income rose nearly 5% year-on-year to Rs 541 crore, and AMC’s average assets under management rose 4%.

Glenmark Pharma: The company said it would pay $87.5 million to three groups of plaintiffs to settle antitrust and consumer protection lawsuits related to Zetia, a generic drug used to treat cholesterol in the United States. The amount will be paid over two financial years.

Mahindra Lifespace: The real estate company’s consolidated net profit fell 99.6% year-on-year to Rs 0.54 crore in Q4FY23 from Rs 137.66 crore in Q4FY22. However, total revenue rose to Rs 270.26 crore in the March quarter.

IHCL: The company signed its second Taj Mahal hotel in Kochi, Kerala. With this, the hotel chain will have 17 hotels across the Taj, SeleQtions, Vivanta and Ginger brands in Kerala, with five under development.

Rallis India: The company’s reported loss widened to Rs 69.13 crore in Q4FY23 from Rs 14.13 crore in the year-ago period. Conversely, operating income rose 2.9% to Rs 522.62 crore in Q4FY23, compared to Rs 507.54 crore in Q4FY22.

Mahindra CIE: The auto parts supplier’s profit rose nearly 73% year-on-year in Q4FY23, driven by strong domestic and European demand. On the other hand, the consolidated profit in Q4FY23 was Rs 279 crore, up from Rs 161 crore a year ago.

Zomato: The company has signed a deal with electric vehicle (EV) startup Zypp Electric to deliver 100,000 electric scooters by 2024. Zypp will also provide a partner for urban last-mile delivery, assisting Zomato in its plan to be fully electric by 2030.

Zydus Lifesciences: The pharmaceutical company received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Metronidazole 0.75% topical cream.

KPI Green Energy: The company has commissioned a 26.1 megawatt (MW) wind-solar hybrid project comprising 16.1 MW of wind and 10 MW of solar capacity at its Shungar site in Bhavnagar, Gujarat.

Raymond: The Company’s wholly owned subsidiary, Silver Spark Apparel, acquires 100% of Raymond America Apparel INC of New Jersey.

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