The Sensex and Nifty indices are likely to start Wednesday’s session with a fractional uptick amid sombre global cues. At 07:30 am, the SGX Nifty quoted at 17,517, indicating an opening gain of around 20 points on the Nifty index.
Q2 Earnings
IndusInd Bank, UltraTech Cement, HDFC Asset Management Company, Nestle India, 5paisa Capital, AU Small Finance Bank, Havells India, Inox Leisure, Metro Brands, Max Financial Services, Navin Fluorine International, Persistent Systems, Shoppers Stop, and Syngene International will release their Q2 results on Wednesday.
Adani Enterprises: The Adani Group, via an arm of Adani Enterprises, has acquired Air Works — India’s second-oldest maintenance repair and overhaul unit — for an enterprise valuation of Rs 400 crore. The group controls seven airports and the latest acquisition will give it maintenance capabilities in all three aircraft maintenance verticals — airline, business jets, and defence.
ICICI Lombard: Aided by a reversal of tax provision, ICICI Lombard General Insurance’s net profit jumped 32 per cent to Rs 591 crore in the July-September quarter (Q2FY23), from Rs 447 crore in the same period last year.
Telecom shares: Mukesh Ambani-led Reliance Jio became the largest landline service provider in the country for the first time, in August. With 7.35 million landline connections as on August 31, Reliance Jio beat state-owned telecom operator and hitherto market leader BSNL’s 7.13 million connections, according to Trai data.
Tech Mahindra: IT services major Tech Mahindra announced on Tuesday that it has signed a memorandum of understanding (MoU) with the Gujarat government to expand its operations by hiring over 3,000 employees in the state over the next five years.
Ambuja Cements: The company on Tuesday said it issued 477.4 million warrants to Adani family firm Harmonia Trade and Investment and raised Rs 5,000 crore.
ITC: The company has entered into an agreement to acquire additional 1000 compulsorily convertible preference shares Mother Sparsh. The said shares, once acquired, will take the company’s shareholding in Mother Sparsh to 22 per cent.
L&T Technology Services: The company has posted a 23 per cent year-on-year (YoY) growth in consolidated profit at Rs 283.2 crore for Q2FY23. Revenue rose 24 per cent to Rs 1,995 crore in the quarter.
Bharat Electronics: The company has signed an MoU with defence PSU Munitions India Limited (MIL) to jointly address the requirements of Indian defence and export markets in the areas of ammunition, explosives and related systems.
Stocks in F&O ban: Delta Corp, Indiabulls Housing Finance, India Cements.
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