Titan, Tata Chem, Adani Group, RIL, Petronet, Apollo Micro are in Focus

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India’s main benchmark index was likely to be volatile on Thursday after the Federal Reserve raised interest rates by 25 basis points as expected and signalled a possible pause in rate hikes after that. At 7:30 am, SGX Nifty May futures were quoted at 18,100.

Aviation: Shares of airlines including IndiGo, SpiceJet and Jet Airways may be on investors’ radar for a second straight day after reports that crisis-hit Go First stopped taking new flight bookings until May 15. The NCLT will hear the insolvency plea today.

Adani Group: While Adani Enterprises is due to release March quarter figures today and Adani Power tomorrow, Adani Group shares may remain in focus as the auditor’s appointment, questioned by US short-seller Hindenburg in its scathing report, has resigned due to “pre-occupation,” Adani Total Gas Ltd said.

Reliance (RIL): Shareholders of the company voted in favour of a proposed plan of arrangement between the company and Reliance Strategic Investments, thereby paving the way for the demerger of the financial services unit.

Titan: The company reported a 40% year-on-year increase in net profit to Rs 736 crore in Q4FY23 compared to Rs 527 crore in Q4FY22. Total revenue rose 26% year-on-year to Rs 9,419 crore. Revenue in the jewellery business jumped 24%.

Tata Chemicals: The company’s net revenue soared 55.5% year-on-year to Rs 692 crore in the fourth quarter ended March 2023. Total revenue rose 25% year-on-year to Rs 4,482 crore.

SIS: The company’s fourth-quarter net profit fell 4.4% to Rs 93.10 crore in the quarter that ended March 2023, compared with Rs 97.40 crore a year earlier. However, total revenue rose by 13.1% year-on-year to Rs 2,995.7 crore.

Tata Chemicals: The company reported a 62% year-on-year rise in consolidated profit to Rs 709 crore in the March quarter. Consolidated operating income rose about 27% year-on-year to Rs 4,407 crore.

ABB India: The company’s fourth-quarter net profit in the final quarter of FY22-23 fell 33.2% year-on-year to Rs 247.17 crore from Rs 370.14 crore a year earlier. However, total revenue rose 22.5% YoY to Rs 2,411.21 crore.

Petronet LNG: The company posted an 18.1% year-on-year drop in net profit to Rs 614.25 crore in the fourth quarter. In the third quarter, the company posted its highest-ever net revenue of Rs 1,181 crore. Standalone revenue from operations, however, rose 24.3% year-on-year to Rs 13,874 crore.

Sona BLW Precision Forgings: The company posted a 15.4% YoY increase in net revenue to Rs 143.62 crore in Q4FY23, while total revenue rose 36.1% YoY to Rs 737.36 crore.

Sula Vineyards: The company reported a 4.9% year-on-year increase in net revenue to Rs 14.25 crore in the fourth quarter, boosted by a 7% rise in total revenue to Rs 120.90 crore.

KEC International: The company reported a 35.6% year-on-year decline in net revenue at Rs 72.17 crore in Q4, compared to Rs 112.04 crore in Q4FY22. However, total revenue rose 29.3% year-on-year to Rs 5,530.53 crore.

Cholamandalam Investment: Murugappa Group Corp posted a 24% year-on-year rise in net profit to Rs 853 crore in the fourth quarter of 2022-23, compared to Rs 690 crore in the same period in 2021-22. Net revenue rose 32% year-on-year to Rs 2,060 crore.

Apollo Micro Systems: From today, the stock will trade stock split on a 1:10 basis.

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