february futures contract smelly Trading at 50 on the Singapore Exchange indicates a negative opening for domestic equities. The contract was trading at 17,838.50, down 38.5 points or 0.22% from its previous close.
Earnings Today: SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, Campus Activewear, GR Infraprojects, Borosil Renewables, Zee Entertainment, among others will report October-December quarter (Q3FY23) results.
M&M: The automaker is likely to roll out its first electric vehicle by 2024 from the Zaheerabad plant in Telangana. Management said the manufacturing facility will be used for new product development and new electric vehicles. Both the e-auto and e-Jeeto will be manufactured at the plant.
Sun Pharma: The drug major has recalled over 34,000 bottles of its generic drug used to treat high blood pressure in the US market due to failed dissolution test. The company produced a lot at its Halol manufacturing facility in Gujarat. The affected lots were later distributed to the market by its US-based entity.
Tata Steel: Managing Director and CEO TV Narendran said that the merger of the seven subsidiaries with Tata Steel is expected to be completed in the financial year 2023-24. Earlier, the board had approved a proposal to merge subsidiaries with itself for greater synergy, higher efficiency and lower cost.
NALCO: The company posted a net profit of Rs 284 crore in Q3FY23, as against Rs 170 crore in the year-ago period. Profit margins were impacted despite strong production growth, lower sales volumes, higher input costs and a challenging global environment. However, the management expects the situation to improve in Q4FY23 with prices firming up.
Glenmark Pharma: The company reported a 21.3 per cent increase in consolidated profit after tax to Rs 290.8 crore in Q3FY23 from Rs 239.8 crore in Q3FY22. Consolidated revenue also increased by 9.2 per cent to Rs 3,463.9 crore during the quarter. the company said India The business saw strong growth in secondary sales.
Brigade Enterprises: The realty firm’s sales bookings grew 48 per cent to Rs 1,009.7 crore in Q3FY23, on higher volumes and value realizations amid strong housing demand. Meanwhile, the average sale realization increased by 5 per cent to Rs 6,590 per sq ft in Q3FY23.
Oil India: The state-owned company reported highest ever quarterly net profit at Rs 1,746.10 crore in Q3FY23 from Rs 1,244.90 crore in Q3FY22 due to rise in oil and natural gas prices. Turnover also increased by 27 per cent to Rs 5,981.63 crore. In addition, the board declared a second interim dividend of Rs 10 per share.
Inox Wind: Company’s consolidated net loss widens to Rs 287.86 crore in Q3FY23 due to higher expenses. Total expenses, meanwhile, increased to Rs 522.31 crore in the third quarter of FY23 from Rs 283.65 crore in the year-ago period.
Sundaram Finance: Sundaram Home Finance, a wholly owned subsidiary of the company, aims to disburse over Rs 10 crore under the small business loan segment. The management said that since they have received a positive response from the locations launched so far, they intend to scale up their disbursements by the end of this year.
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