The market is expected to open in the green as trends on the SGX Nifty indicate a positive opening for the broader index in India with a gain of 105 points. The market extended losses for the second straight session and fell more than 1 per cent on April 25, as increasing COVID-led lockdown fear in China and hawkish commentary of Fed officials dampened sentiment. The benchmark indices erased all previous two days’ gains in the following two sessions (last Friday, and Monday). The BSE Sensex corrected 617 points to 56,580, while the Nifty50 plunged 218 points to 16,954.
Results Today
Bajaj Finance, HDFC Life Insurance Company, Aditya Birla Sun Life AMC, KPIT Technologies, Macrotech Developers, Mahindra Logistics, Nippon Life India Asset Management, NELCO, Atul, AU Small Finance Bank, Gateway Distriparks, IIFL Securities, Sanofi India, Schaeffler India, Som Distilleries & Breweries, Tata Coffee, Tata Teleservices (Maharashtra), United Breweries, UTI Asset Management Company, VST Industries, D-Link (India), International Travel House, Gujarat Hotels, Jindal Hotels, JK Agri Genetics, and Jumbo Bag are slated to release their quarterly earnings on April 26.
Tech Mahindra
Life Insurance Corporation of India bought an additional 85,000 equity shares in the company via open market transactions on April 22, taking its total stake to 5 per cent, up from 4.99 per cent earlier.
Steel Exchange India
The company reported a massive 286 per cent year-on-year growth in profit at Rs 112.5 crore driven by tax write-back in the quarter ended March 2022. Revenue grew by 12 per cent to Rs 367 crore compared to year-ago quarter.
Eveready Industries India
The company posted consolidated loss of Rs 38.41 crore in Q4FY22, which narrowed compared to loss of Rs 442.53 crore in corresponding period last fiscal, but revenue fell 11.5 per cent year-on-year to Rs 241.24 crore during the quarter.
Veranda Learning Solutions
The learning solutions provider has acquired T.I.M.E. (Advanced Educational Activities Pvt Ltd), the leading test-prep institute with a pan-India presence operating through 188 centres. The company bought T. I. M. E. for Rs 287 crore.
Lemon Tree Hotels
The company has signed a License Agreement for a 60-room hotel at Kharar, near Chandigarh under the brand ‘Lemon Tree Hotel’. The hotel is expected to be operational by November, 2025. Its subsidiary Carnation Hotels will be operating and marketing this hotel.
Mahindra CIE Automotive
Profit in the quarter ended March 2022 grew by 1,499 per cent year-on-year to Rs 161.43 crore due to lower tax expenses and higher revenue growth. Topline increased 18.2 per cent to Rs 2,588.4 crore compared to corresponding period last fiscal.
Aarti Industries
Life Insurance Corporation of India acquired additional 2.24 lakh equity shares in the company via open market transactions on April 22. With this, LIC’s stake in the company stands increased to 5.03 per cent, up from 4.97 per cent earlier.
Gujarat Mineral Development Corporation
The company recorded consolidated profit at Rs 177 crore for the quarter ended March 2022, against loss of Rs 184.64 crore in same period last year, driven by topline. Revenue grew by 87 percent year-on-year to Rs 1,057.3 crore in the same period.
The Ruby Mills
The company has repaid its entire term loans and all unsecured loans of Rs 145 crore.
Tatva Chintan Pharma Chem
The company reported a 17 per cent year-on-year decline in profit at Rs 17.51 crore for March 2022 quarter, dented by lower topline and operating income. Revenue fell 9.3 per cent to Rs 98.53 crore during the same period, with margin declining 200 bps YoY.
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