Globally, the US markets ended higher overnight, led by gains in financial and technology stocks. Major averages Dow Jones, the S&P 500, and NASDAQ Composite rose up to 0.9 per cent.
Asia-Pacific markets, however, were largely lower in early deals, with Australia’s S&P 200, Hong Kong’s Hang Seng, and mainland Chinese indices declining up to 2 per cent.
On the contrary, Japanese indices (Nikkei 225 and Topix) were the sole winner, gaining up to 0.4 per cent ahead of key economic data releases.
Results today: IndusInd Bank, ICICI Prudential Life Insurance, ICICI Lombard, Polycab India, L&T Tech, CIE Automotive, TV18 Broadcast, Network18 Media, Heidelberg Cement, among others will report the April-June quarter results of fiscal year 2023-24 (Q1FY24).
Ashok Leyland: The company won major orders for defence vehicles, valued at Rs 800 crore. The contracts awarded to Ashok Leyland include for the production of “field artillery tractors” (FAT 4×4) and “gun towing vehicles” (GTV 6×6).
Patanjali Foods: GQG Partners has invested around Rs 2,400 crore in Patanjali Foods. In the offer of sale (OFS), the GQG Group picked a 5.96 per cent stake or 21.5 million shares in the FMCG company.
Indian Oil Corporation: The refiner signed long-term liquefied natural gas (LNG) import deals with United Arab Emirates’ Abu Dhabi Gas Liquefaction and France’s TotalEnergies. The supplies under the two deals is likely to commence from calendar year 2026.
Ircon International: The company bagged orders worth Rs 144 crore from N F Railway Construction in Manipur. The work was awarded for integrated tunnel communication systems, and optical fibre cable-based industrial grade network systems.
Sheela Foam: The company will buy a 94.66 per cent stake in Kurlon Enterprises at an equity valuation of Rs 2,150 crore. The indicative time period for the completion of the acquisition is by or before November 30, 2023.
Coal India: According to reports, Coal India, a government-owned port, and a state waterways body, are planning to invest up to $1.46 billion to build an industrial water transport corridor in eastern India.
Hathway Cable: The company reported a 6.62 per cent increase in consolidated net profit to Rs 22.36 crore in Q1FY24, while revenue from operations was 11.63 per cent higher at Rs 499.23 crore.
Adani Total Gas: Oil regulator PNGRB rejected Adani Total Gas’s application for licence to retail CNG to automobiles and piped gas to household kitchens in Noida, on the outskirts of the national capital, on grounds that it does not meet criteria.
Karur Vysya Bank: The lender reported a 57 per cent rise in net profit to Rs 359 crore in Q1FY24, while NII increased by 20 per cent to Rs 897 crore during the quarter under review.
Choice International: The brokerage firm reported a nearly three-fold growth in profit after tax to Rs 21.3 crore in the June quarter. The company’s total revenue, too, jumped 77 per cent to Rs 139.3 crore in Q1FY24.