A poor beginning for local stock markets is indicated by the performance of the Nifty futures contract, which is traded on the Singapore Exchange. Following the previous session’s finish, the contract was trading at 18,293, which was a loss of 36.5 points (or 0.20%).

Earnings for the quarter ending on March 31, 23Q on May 17

SKF India, Honeywell Automation India, Sheela Foam, Glaxosmithkline Pharmaceuticals, Timken India, Devyani International, Zydus Wellness, Railtel Corporation of India, Restaurant Brands Asia, Eris Lifesciences, Sanghi Industries, MTAR Technologies, Anup Engineering, Jindal Stainless, Jindal Saw, Quess Corp., JK Tyre & Industries, Thermax, Deepak Fertilisers & Petrochemicals Corporation, Endur

Bharti Airtel, a supplier of telecommunications services, said after market hours on Tuesday that its revenue for the quarter that ended on March 31 increased by 14.3 percent, reaching Rs 36,009 crore. This figure represents an increase from Rs 31,500 crore in the same quarter in 2021–22. The company’s India operations reported a 12.2 percent increase in sales for the quarter, which totaled Rs 25,250 crore. In addition, Bharti Airtel announced an increase in its consolidated net profit of Rs 3,005.6 crore, which is a 49.2 percent increase.

LIC Housing Financing: The housing financing firm recorded a year-on-year increase in its consolidated net profit in Q4FY23 that came in at Rs 1,180.3 crore, which was 5.5 percent higher than the same period last year. For the March quarter, the company’s net interest income (NII) increased by 22.1 percent and came in at Rs 1,990.3 crore. The Board of Directors has suggested a dividend payment of 8.5 rupees per share.

Indian Oil Corporation, a state-run oil marketing firm, reported a year-on-year increase in its net profit of 54.8 percent, coming in at Rs 10,289.8 crore for the March quarter. This increase was driven by an increase in gross refining margins.

V-Mart Retail: The company’s overall income for the March quarter was recorded at Rs 601.44 crore, which is an increase of 30 percent year over year. However, it recorded a net loss of 36.95 crore for the period, which is much more than the net loss of 2.61 crore that was reported the previous year.

When compared to the previous year’s net profit of 33.01 crore, which was recorded by Triveni Turbine, the company’s net profit increased by 68.2 percent year-over-year to reach 55.51 crore for the period that concluded on March 31, 2023. During the same time period, the company’s total revenue increased by 54% year over year to reach Rs 382.24 crore.

Jindal Steel and Power: JSPL’s consolidated net profit dropped by 69.5 percent year over year to Rs 465.66 crore during the January-March quarter. This is in comparison to the Rs 1,527.04 crore that was reported during the same time period in the previous year.

Real estate developer Oberoi Realty reported a consolidated net profit for the March quarter of Rs 480 crore on Tuesday. This was for the company’s quarterly report. According to the statement released by the corporation, this is a 106 percent increase from 232 crore a year earlier. When compared to the same time period in the prior year, the company’s consolidated revenue from operations increased by 16.76 percent, reaching 961 crore instead of 823 crore.

It reported a net profit of Rs 10.76 crore for the quarter that ended in March 2023, which is an increase of 4.5 percent when compared to the net profit of Rs 10.30 crore reported during the same period in the previous year. The entire revenue of the firm came in at Rs 65.85 crore, which is a year-over-year increase of 5%.

Vodafone Idea: Vodafone Group Plc has said that it values its investment in Vodafone Idea Ltd. at zero, which indicates that the telecom operator located in the United Kingdom has no interest in reviving its joint venture in India. “The group is recording no further share of losses in respect of VIL,” Vodafone Group Plc said in the notes to its FY23 preliminary results, which were issued on Tuesday.

ANI has reported that the Supreme Court will hear a batch of public interest litigations (PILs) on Wednesday over the Adani Group-Hindenburg report problem and the Sebi’s petition for an extension of time to submit the report. The PILs are demanding a probe into the issue involving the report, while the Sebi is pleading for an extension of time to deliver the report. On Monday, the highest court in the land postponed the hearing on the Sebi appeal that asked for a six-month extension to finish the probe into the Hindenburg Research study.

Paytm’s parent company, One 97 Communications Ltd., said on Tuesday that it has promoted Bhavesh Gupta, a senior vice president, to the position of president and chief operating officer (COO) of the leading financial technology company Paytm.

Hero MotoCorp and Bajaj Auto: According to sources, the Department of Heavy Industry wants to reduce the subsidy granted on electric two-wheelers under the FAME II plan from the current rate of Rs 15,000 per KW to Rs 10,000 per KW. The amount of money the companies receive would change as a result. In addition to this, it is anticipated that the maximum ceiling on subsidies will be reduced from the existing level of 40 percent of the MRP to 15 percent of the MRP. According to another source, the money that would have been spent on the subsidy had it not been capped may have been used instead to offer an extra allocation of Rs 1,500 crore for the FAME II plan for the current fiscal year.