Infosys: The IT major will announce its fiscal fourth quarter earnings on Wednesday. Analysts expect Infosys to guide for double-digit revenue growth for FY23 while retaining its Ebit margin guidance in the 22-24% band.
Tata Steel: Has completed acquisition of entire 50% stake held by Steel Authority of India, in S&T Mining Company. Its subsidiary Tata Steel Mining Ltd acquired debt-laden Rohit Ferro-Tech Ltd for ₹617.12 crore through an insolvency resolution process on Tuesday.
Hathway Cable & Datacom: Reported a 60.6% year-on-year decline in its consolidated net profit to ₹28.42 crore for the quarter ended March 2022. Total income during the period rose 3.32% to ₹462.87 crore.
Fino Payments Bank: Will buy a minority stake in New Delhi-based fintech PaySprint for an undisclosed amount. The bank acquire up to 12.19% stake in the company which offers APIs (Application Programming Interfaces) in banking, payments, travel, lending, insurance and investments.
Veranda Learning Solutions: Nomura Singapore has exited the company by selling an additional 7.78 lk shares at an average price of ₹162.51 apiece, via open market transactions. European financial services group Societe Generale acquired 7.68 lakh equity shares in Veranda at an average of ₹162.50 apiece.
McDowell Holdings: The National Company Law Tribunal has initiated insolvency proceedings against the company and appointed an interim resolution professional. The NCLT admitted the plea filed by Sun Star Hotels and Estate Pvt Ltd, a financial creditor of the erstwhile Vijay Mallya-promoted company, claiming a default of ₹16.80 crore.
Moving on to markets
Indian markets are likely to start Wednesday’s session on a flat note as per trends indicated by the SGX Nifty futures, which were quoting 15,753 levels at 7:45 am, unchanged from their previous close.
Global sentiment remains weak as inflation numbers in both India and US rose steeply. US consumer inflation rose 8.5 per cent in March vs 7.9 per cent in Feb, raising expectations of larger rate hikes by the US Fed.Back home, India’s annual retail inflation hit a 17 month high of 6.95 per cent in March from a year ago, while industrial production grew only 1.7 per cent in February and contracted 4.7 per cent from the last month.
Investors will react to the inflation numbers coupled with lower industrial output, that poses conflict for the RBI to juggle between the growth and inflation conundrum.
Business Term of the day
Valuation is a quantitative process of determining the fair value of an asset or a firm. In general, a company can be valued on its own on an absolute basis, or else on a relative basis compared to other similar companies or assets.
In this episode, find out about Infosys’ collaboration with Bpost, also find out about JSW Steel entering into a pact with SMS Group Business Term of the Day: Know your Customer Read more
In this episode, find out about Infosys’ collaboration with Bpost, also find out about JSW Steel entering into a pact with SMS Group Business Term of the Day: Know your Customer Read more
In this episode, find out about TCS’ tie-up with US-based C&S Wholesale Grocers, also find out about Ujjivan Small Finance Bank’s QIP Business Term of the Day: Intra-day Read more
In this episode, find out about TCS’ tie-up with US-based C&S Wholesale Grocers, also find out about Ujjivan Small Finance Bank’s QIP Business Term of the Day: Intra-day Read more
In this episode, find out about Adani’s plan to overhaul the board of ACC, Ambuja Cements and also find out about Reliance Petroleum Retail’s plan to acquire Shubhalakshmi Polyeste ... Read more
In this episode, find out about Adani’s plan to overhaul the board of ACC, Ambuja Cements and also find out about Reliance Petroleum Retail’s plan to acquire Shubhalakshmi Polyesters Business Term of the Day: Personal Guarantee Read more
In this episode, find out why Reliance Jio going is close to finalizing its contract with telecom gear maker Ericsson and what are government's plans for Vodafone Idea. Read more
In this episode, find out why Reliance Jio going is close to finalizing its contract with telecom gear maker Ericsson and what are government's plans for Vodafone Idea. Read more
In this episode, find out about Sembcorp Ind’s plan to sell entire stake in Sembcorp Energy, also find out about DreamFolks’ IPO plans Business Term of the Day: Multibagger Read more
In this episode, find out about Sembcorp Ind’s plan to sell entire stake in Sembcorp Energy, also find out about DreamFolks’ IPO plans Business Term of the Day: Multibagger Read more
In this episode, find out about Tamilnad Mercantile Bank’s IPO opens today, also find out about Mahindra Lifespace is targeting a 2.5 fold jump in annual sales bookings over next 3 ... Read more
In this episode, find out about Tamilnad Mercantile Bank’s IPO opens today, also find out about Mahindra Lifespace is targeting a 2.5 fold jump in annual sales bookings over next 3 years Business Term of the Day: NRE Deposit Read more
In this episode, find out about Aurobindo Pharma’s arm’s plans to invest Rs 300 cr for capacity expansion, also find out about Adani Enterprise’ entry into NSE Nifty50 index Busine ... Read more
In this episode, find out about Aurobindo Pharma’s arm’s plans to invest Rs 300 cr for capacity expansion, also find out about Adani Enterprise’ entry into NSE Nifty50 index Business Term of the Day: F&O expiry Read more
In this episode, find out about Indiabulls Housing Finance’ plan to issue NCDs and also find out about Dish TV Chair Jawahar Goel’s decision to step down Business Term of the Day: ... Read more
In this episode, find out about Indiabulls Housing Finance’ plan to issue NCDs and also find out about Dish TV Chair Jawahar Goel’s decision to step down Business Term of the Day: Forward Premium Read more
In this episode, find out about TMB’s IPO set to open on September 5 and also find out about India’s Q1 GDP to be released today Business Term of the Day: Business Cycle Read more
In this episode, find out about TMB’s IPO set to open on September 5 and also find out about India’s Q1 GDP to be released today Business Term of the Day: Business Cycle Read more
In this episode, find out about BPCL’s plan to scale up its renewable energy portfolio to 10 GW by 2040, and also find out about Mahindra Electric Mobility Limited (MEML)’s all-ne ... Read more
In this episode, find out about BPCL’s plan to scale up its renewable energy portfolio to 10 GW by 2040, and also find out about Mahindra Electric Mobility Limited (MEML)’s all-new cargo electric three-wheeler – Zor Grand. Business Term of the Day: Jackson Hole Economic Symposium Read more
