On Wednesday, the SGX Nifty gave an indication of a subdued start to trading by quoting around 18,687 levels, which was a loss of about 42 points. This was in response to conflicting indications from global markets.
As traders across the world wait for congressional approval of the accord to raise the debt limit, the overnight session on US markets ended on a mixed note. The Dow Jones fell by 0.1 percent, while the NASDAQ Composite advanced by 0.3 percent, and the S&P 500 did not move.
In the Asia-Pacific region this morning, the Nikkei 225, the S&P 200, and the Topix indexes all had losses of up to one percent, while the Kospi was the only index to break the trend and experience a gain of 0.1 percent.
While everything is going on, here are a few equities to keep an eye on during trading on Wednesday:
Adani Ports & SEZ: The business reported a year-on-year (YoY) increase in consolidated net profit of 5.1 percent, which brought the total amount to Rs. 1,158.9 crore for the January-March quarter (Q4FY23). The revenue generated from operations also increased, reaching Rs 5,797 crore, a year-over-year increase of 40 percent. The board of directors proposed a dividend of Rs 5 per share for FY23, based on fully paid-up shares of Rs 2 each.
HDFC Life: Abrdn, which is a member of the promoter group for HDFC Life, is going to sell its whole share in the company as part of a block sale that will take place on Wednesday. At the moment, ABRDN has a stake in the insurance company equal to 35.7 million shares, which is 1.66 percent of the total. The price range for one share of stock is between Rs 563.2 and Rs 585.15.
The Chinese health authorities gave their approval to Sun Pharmaceutical’s new drug application (NDA) for tildrakizumab injection, which is intended to treat people who have moderate-to-severe plaque psoriasis. Sun Pharmaceutical is a key player in the pharmaceutical industry.
The price of iron ore lump and its fines has decreased by Rs. 300 and Rs. 450 per tonne, respectively, thanks to NMDC, a state-controlled corporation. It has been determined that the price of fines will be Rs 3,560 per tonne, while the price of lump ore will be Rs 3,900 per tonne.
Icarus Hybren has been formed as a completely owned subsidiary of Mahindra Susten, which is a subsidiary of Mahindra Holdings Limited, which is a subsidiary of Mahindra Holdings Limited, which is a subsidiary of Mahindra & Mahindra, which is a wholly owned subsidiary of the firm. Mahindra & Mahindra declared this.
Apollo Hospitals: The firm announced a consolidated net profit for the March quarter of 145 crore Indian rupees. In addition, consolidated income from operations increased by 21.3% to reach Rs. 4,302 crore for the quarter ending FY23.
Inox Wind: The firm has partnered with NTPC Renewable Energy Limited (NTPCREL) in Gujarat to develop a wind energy project with a capacity of 150 megawatts (MW). Inox Wind has now received a total of 550 MW worth of orders from NTPC to date, bringing the total to 550 MW.
Patanjali Foods: The business reported a profit after tax of Rs 264 crore, which is an increase of 12.8 percent from Rs 234 crore reported the previous year. On the other side, revenue generated from operations increased by 18.14% during the March quarter, reaching a total of Rs. 7,873 crore.
Rajesh Exports: The firm announced that Suresh Kumar Sarojamma Linge Gowda has been appointed to the position of managing director for a period of five years, beginning June 1, 2023. This appointment is contingent on the approval of shareholders at the subsequent general meeting.
Torrent Pharma: During the March quarter, the firm posted a consolidated net profit of Rs 287 crore, which compares to a loss of Rs 118 crore during the same time period in the prior year. The board of directors has proposed a final dividend to the company’s shareholders in the amount of Rs. 8 per equity share with a value of Rs. 5 each.
V-Guard Industries, a maker of electric items, reported a decrease in overall net profit of 41.14 percent year over year, to Rs 52.72 crore, in the fourth quarter of fiscal year 23. The total amount of revenue from operations increased by 7.64 percent over the time period under consideration, reaching 1,140.14 crore rupees.
PTC Industries reported a year-over-year increase in total revenue of 19 percent, bringing it to Rs 62.6 crore in Q4FY23, up from Rs 52.6 crore in the same period the previous year. On the other hand, profit after tax increased by 99.1 percent year over year to reach Rs. 9.2 crore during the March quarter.