As of 07:10 AM, the SGX Nifty April futures were quoting at 17,741 – indicating an opening gain of 40-odd points on NSE Nifty 50. The key benchmark indices are likely to open marginally higher tracking positive cues from the overseas markets. Meanwhile, investors on the D-street will be eyeing RBI‘s Monetary Policy outcome.
Earnings Today
GTPL Hathway and PTC India Financial Services to announce Q4 results today.
Sterling and Wilson Renewable Energy
The company posted a loss of Rs 126.61 crore for the quarter ended March 2022, which narrowed from a loss of Rs 344.80 crore reported in the same period last year. However, revenue fell sharply to Rs 1,071 crore from Rs 1,364.5 crore during the same period. In the financial year FY22, the loss stood at Rs 916 crore, widened from Rs 290 crore in the previous year, while revenue rose moderately to Rs 5,199 crore from Rs 5,081 crore during the same period.
Sonata Software
The board has approved the appointment of Samir Dhir as CEO of the company with effect from April 8, 2022. Srikar Reddy is voluntarily stepping down as CEO and will be continuing as Managing Director of the company.
Cholamandalam Investment and Finance Company
The company in a BSE filing said disbursements for Q4FY22 stood approximately at Rs 12,718 crore, a growth of 58 percent compared to Rs 8,071 crore of disbursements in the corresponding period last fiscal. Collection efficiency on billing improved across all product segments and stood at 138 percent in Q4FY22 as against 120 percent in the year-ago period.
Infosys
The IT company and Rolls-Royce extended strategic collaboration with the launch of joint ‘Aerospace Engineering and Digital Innovation Centre in Bengaluru. This centre will provide high-end research and development (R&D) services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India.
Hester Biosciences
The company in its BSE filing said the board has approved the execution of Grantin-Aid Letter Agreement for a grant of Rs 60 crore (in a phased manner) to the company by Biotechnology Industry Research Assistance Council (BIRAC), a Government of India Enterprise. This will support COVID vaccine manufacturing under Mission Covid Suraksha.
Sobha
The company achieved a total sales volume of 1.34 million square feet of super built-up area and the highest ever realisation of Rs 1,109.6 crore for the quarter ended March 2022, against 1.33 million square feet of super built-up area and realisation of Rs 1,072 crore in the year-ago period. The average realisation per square feet stood at Rs 8,265 crore in Q4FY22, against Rs 8,014 crore in Q4FY21.
Insurance
The insurance regulator, IRDA, wants removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players.
Pharma
Indian drug firms have been prolific with brand launches over the past 10 years despite the reduction in growth contribution from new products in recent years. Industry insiders say brand launches are the lifeline of the pharma industry, and ensure steady volume growth and market share.
Read all the Latest Business News and Breaking News here
Comments
0 comment