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 NHPC’s Rs 62.4 k crore storage plants push, and also find out Zomato will announce its Q4 nos Business Term of the Day: Excise Tax Read more
In this episode, find out about NHPC’s Rs 62.4 k crore storage plants push, and also find out Zomato will announce its Q4 nos Business Term of the Day: Excise Tax Read more
In this episode, find out why Equitas founder PN Vasudevan resigned, also find out about Indonesia’s decision to lift ban on edible oil exports Business Term of the Day: GST Read more
In this episode, find out why Equitas founder PN Vasudevan resigned, also find out about Indonesia’s decision to lift ban on edible oil exports Business Term of the Day: GST Read more
In this episode, find out why investors are looking at a sharper rate hike from RBI, also find out about the new CEO at Indigo. Business Term of the Day: Tariff Read more
In this episode, find out why investors are looking at a sharper rate hike from RBI, also find out about the new CEO at Indigo. Business Term of the Day: Tariff Read more
In this episode, find out about the government’s plans to reduce the quantum of stake sale in BPCL, and also find out about RBI’s decision to reject 6 applications for banking lice ... Read more
In this episode, find out about the government’s plans to reduce the quantum of stake sale in BPCL, and also find out about RBI’s decision to reject 6 applications for banking licences Business Term of the Day: Open offer Read more
In this episode, find out about Jack Ma exiting Paytm E-commerce, also find out about Byju’s looking at US acquisition for $2 bn Business Term of the Day: Growth stocks Read more
In this episode, find out about Jack Ma exiting Paytm E-commerce, also find out about Byju’s looking at US acquisition for $2 bn Business Term of the Day: Growth stocks Read more
In this episode, find out why Tech Mahindra thinks positive momentum will continue in FY23, also find out about Maruti Suzuki’s plan to invest Rs 11,000 crore in a new plant in Har ... Read more
In this episode, find out why Tech Mahindra thinks positive momentum will continue in FY23, also find out about Maruti Suzuki’s plan to invest Rs 11,000 crore in a new plant in Haryana. Business Term of the Day: Bear market Read more
In this episode, find out about PNB’s decision to subscribe to rights issue of PNB Housing, also find out about Reliance Industries and BP’s plan to draw up a compensation plan for ... Read more
In this episode, find out about PNB’s decision to subscribe to rights issue of PNB Housing, also find out about Reliance Industries and BP’s plan to draw up a compensation plan for dealers Business Term of the Day: Nominal GDP Read more
In this episode, find out about banks hiking lending rates post RBI rate hike, also find out why Bitcoin dropped the most in a month. Business Term of the Day: FOMC Read more
In this episode, find out about banks hiking lending rates post RBI rate hike, also find out why Bitcoin dropped the most in a month. Business Term of the Day: FOMC Read more
In this episode, find out about SBI’s plans to raise $2bn from global markets, also find out why Indian markets are likely to open higher Business Term of the Day: Stagflation Read more
In this episode, find out about SBI’s plans to raise $2bn from global markets, also find out why Indian markets are likely to open higher Business Term of the Day: Stagflation Read more
In this episode, find out why Amazon has written to Sebi against Future Retail, also find out about Adani Wilmar’s acquisition of Kohinoor brand from McCormick Switzerland GMBH Bu ... Read more
In this episode, find out why Amazon has written to Sebi against Future Retail, also find out about Adani Wilmar’s acquisition of Kohinoor brand from McCormick Switzerland GMBH Business Term of the Day: Grey Market Premium Read more
