Updated : May 12, 2021 07:24 AM IST
The Indian market is likely to open on a cautious note Wednesday amid weakness in global peers as worries over rising inflation in the United States spooked investors on concerns that it could lead to earlier rate hikes and higher bond yields globally. At 7:10 am, the SGX Nifty was trading 15.00 points or 0.10 percent lower at 14,835.00, indicating a flat-to-negative start for the broader index in India.
Telecom Stocks | Reliance Jio added 4.2 million mobile subscribers, Bharti Airtel added 3.7 million users, while Vodafone Idea added 6.5 lakh users in February, according to TRAI data. Infosys | The company announced a strategic collaboration with Britvic to accelerate its digital strategy. Mahindra & Mahindra | The company said its sales volume for the quarter ended June 2021 is estimated to be lower by 15-20 percent as compared to the year-ago period due to the second wave of the coronavirus pandemic. The revenue and profitability will also be impacted in line with the fall in volumes. However, the company is taking various cost optimisation measures to limit the adverse impact, M&M said. Dr Reddy’s Laboratories | The company has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly for the manufacture and commercialization of the drug, baricitinib, in India. Siemens | The company’s consolidated profit in the quarter ended March 2021 jumped 90 percent to Rs 334.4 crore from Rs 175.7 crore, while revenue increased 31.9 percent to Rs 3,483.7 crore from Rs 2,640.2 crore, YoY. Godrej Consumer Products | The company’s Q4FY21 consolidated profit rose 59.1 percent to Rs 365.84 crore from Rs 229.9 crore and revenue increased 26.8 percent to Rs 2,730.74 crore from Rs 2,153.80 crore, YoY. NBCC (India) | The company has submitted a revised resolution plan for Jaypee Infratech under IBC. ABB Power Products and Systems India | The company has closed its manufacturing facility in Peenya, Bengaluru, from Monday onwards in view of COVID-19 restrictions in place in Karnataka. Linde India | The company reported a higher consolidated profit at Rs 303.2 crore in Q4FY21 against Rs 39 crore, YoY. Revenue rose to Rs 441.4 crore from Rs 377.2 crore YoY. Kalpataru Power Transmission | The company’s Q4FY21 consolidated profit jumped to Rs 174 crore from Rs 31 crore, while revenue rose to Rs 4,086 crore from Rs 3,527 crore YoY. JM Financial | The company said the challenges posed to the economy due to the second wave of the COVID-19 pandemic may impact its income, liquidity position as well as demand for its financial products. CG Power and Industrial Solutions | The company has approved a proposal to allot 1.38 crore shares for Rs 101.20 crore to Standard Chartered Bank (Singapore) on a preferential basis for the settlement of liability toward the latter. Earnings Today | Asian Paints, Lupin, UPL, Apollo Tyres, Tata Power Company, Jindal Steel & Power, Voltas, Happiest Minds Technologies, Avadh Sugar & Energy, Birla Corporation, Borosil Renewables, Dwarikesh Sugar Industries, HG Infra Engineering, JSW Ispat Special Products, Mahindra Lifespace Developers, Pidilite Industries, Prince Pipes and Fittings, Sagar Cements, Saregama India, Sonata Software, among others.
Published : May 12, 2021 07:24 AM IST