The market staged a rebound on Friday, thanks to buying across sectors and strong global cues. Traders welcomed a reprieve from the recent brutal sell-off. The BSE Sensex and the NSE Nifty may start the day on a positive note as global cues were slightly encouraging this morning. As of 07:05 AM, the SGX Nifty May futures quoted at 16,310 as against the spot Nifty close of 16,266 on Friday.
Results Today
Zomato, TRF, SAIL, Bharat Electronics, Nelcast, Pricol, The Ramco Cement, TTK Healthcare, Patel Engineering, Igarashi Motors, Graphite India, Divi’s Lab.
Power Grid Corp
Power Grid Corporation of India Ltd on Saturday posted about 18 per cent rise in its consolidated net profit at Rs 4,156.44 crore for the March 2022 quarter against Rs Rs 3,526.23 crore a year ago, backed by higher income. Total income during the quarter increased to Rs 11,067.94 crore compared to Rs 10,816.33 crore last year.
Zomato
Shares of Zomato will be in focus ahead of its March quarter earnings due on Monday. The firm also said that it will take investors’ calls after its earnings, for the first time since listing. The stock has fallen over 60 per cent from its all-time high amid correction in stock markets. The scrip currently trading below its issue price of Rs 76 a share.
Infosys
The IT services major on Sunday announced the reappointment of Salil Parekh as the CEO and MD of the company for the period of five years. Parekh will be the only non-founder CEO to have managed to be at the helm of the company for a second term.
Steel Stocks
The export levy imposed on steel by the government on Saturday may prompt steel companies to review massive capacity expansion plans. Major private sector steel producers said that the capacity expansion plans were based on assumptions in the sales mix – between domestic and export markets – which has now gone haywire.
Larsen & Toubro (L&T)
The engineering giant is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending FY26. The base year for the plan was FY21. The company also aims to touch revenue of Rs 2.7-3 trillion, achieve order inflow of Rs 3.4 trillion by FY26.
Paytm
India’s Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters.
LIC Housing Finance
With an upturn in the real estate cycle, the company plans to step up project finance lending and increase the share of such disbursements to 10 per cent in FY23, from the present-day 5 per cent.
NTPC
The state-owned power giant posted a near 12 per cent jump in consolidated net profit at Rs 5,199.51 crore for the March 2022 quarter as against Rs 4649.49 crore in the quarter ended on March 2021. Total income surged over 19 per cent to Rs 37,724.42 crore from Rs 31,687.24 crore.
Jet Airways
The aviation firm has received the revalidated air operator certificate (AOC) from the DGCA, fulfilling all the conditions under the National Company Law Tribunal-approved resolution plan. The airline intends to re-commence commercial operations in the July-September quarter.
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