At 07:30 AM, the SGX Nifty June futures quoted at 18,285. That apart, globally, markets may heave a sigh of relief after the Federal Reserve chief Jerome Powell gave a clear signal he is inclined to pausing interest-rate hikes next month and said that tighter credit conditions could mean the policy peak will be lower.
Earnings Watch: Aditya Birla Fashion Retail, Asian Hotels (East), BPCL, CESC, EIH, Finolex Industries, Gujarat Alkalies, HEG, Indiabulls Housing Finance, PB Fintech (PolicyBazaar), Ravalgaon Sugar, Keystone Realtors, Shree Cement, SJVN, Sun Pharma Advanced Research Company (SPARC) and Thangamayil Jewellery are few of the prominent companies scheduled to announce Q4 results on Monday.
Divi’s Lab: The pharma firm’s net profit declined by 63.9 per cent to Rs 318.79 crore for the quarter ended March 2023 when compared with Rs 882.96 crore in the quarter ended Mrch 2022. Total income too was down 22.4 per cent YoY to Rs 1,974.32 crore.
Punjab National Bank (PNB): The state-run bank’s standalone net profit jumped 474 per cent YoY to Rs 1,159 crore in the January-March quarter (Q4) as its net interest income (difference between interest earned and interest expended) went up by 30 per cent to Rs 9,499 crore and provisions for non-performing assets (NPAs) went down by 21 per cent to Rs 3,625 crore.
JSW Steel: The steel maker reported a 13.3 per cent YoY rise in its consolidated net profit to Rs 3,664 crore in the March quarter of 2022-23 (Q4FY23), on higher sales volume. Consolidated revenue from operations grew marginally by 0.1 per cent to Rs 46,962 crore.
Bharat Electronics (BEL): The company’s Q4FY23 net profit rose 19.6 per cent to Rs 1,365.36 crore from Rs 1,141.81 crore. Total income was up 2.1 per cent YoY at Rs 6,524.38 crore.
Zee Entertainment, IDBI Bank: The National Company Law Tribunal in Mumbai rejected on Friday IDBI Bank’s insolvency plea against Zee Entertainment, paving the way for the media company’s merger with rival Sony Entertainment. IDBI Bank had approached NCLT after the media firm defaulted on a Rs 149 crore loan.
Atul Auto: The company reported a turnaround in Q4FY23 with Rs 5.62 crore net profit. In comparison, the company had posted a net loss of Rs 5.68 crore in Q4FY22. Total income surged 63.8 per cent YoY to Rs 141.36 crore.
Dodla Dairy: The company’s Q4FY23 net profit dipped by 71 per cent to Rs 16.25 crore as against Rs 56.03 crore in Q4FY22. Total income, however, rose 19.6 per cent YoY to Rs 672.10 crore.
Stocks in F&O ban: Aditya Birla Fashion Retail (ABFRL), Balrampur Chini, Delta Corp, GNFC, L&T Finance Holdings and Manappuram Finance are in ban period on Monday.