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 RIL-Apollo’s race for Boots pharma chain, also find out about ADIA’s Rs 2200 crore investment in IIFL Home Finance Business Term of the Day: Repo ... Read more
In this episode, find out about RIL-Apollo’s race for Boots pharma chain, also find out about ADIA’s Rs 2200 crore investment in IIFL Home Finance Business Term of the Day: Repo linked lending rate Read more
In this episode, find out about RBI’s decision to hike the repo rate by 50 bps and the government’s decision to hike MSP for Kharif crops. Business Term of the Day: Standing Depo ... Read more
In this episode, find out about RBI’s decision to hike the repo rate by 50 bps and the government’s decision to hike MSP for Kharif crops. Business Term of the Day: Standing Deposit Facility (SDF) Read more
In this episode, find out PNB to invest Rs 500 crore in PNB Housing Finance, and also find out about HDFC Bank hiking the MCLR rate Business Term of the Day: Yield curve Read more
In this episode, find out PNB to invest Rs 500 crore in PNB Housing Finance, and also find out about HDFC Bank hiking the MCLR rate Business Term of the Day: Yield curve Read more
In this episode, find out Tata Power’s plans to partner with Kolte Patil Developers for EV stations, also find out about NCLT’s decision to hear Amazon’s petition against insolven ... Read more
In this episode, find out Tata Power’s plans to partner with Kolte Patil Developers for EV stations, also find out about NCLT’s decision to hear Amazon’s petition against insolvency of Future Retail on June 10 Business Term of the Day: Treasury Bill Read more
In this episode, find out Vodafone Idea plans to grow its post paid user base, also find out about TVS Motor’s plans to raise Rs 5000 crore in EV push Business Term of the Day: O ... Read more
In this episode, find out Vodafone Idea plans to grow its post paid user base, also find out about TVS Motor’s plans to raise Rs 5000 crore in EV push Business Term of the Day: ONDC Read more
In this episode, find out Coal India’s plan to list 25% shares of Bharat Coking Coal, also find out about Aesther Industries listing today. Business Term of the Day: Price Band Read more
In this episode, find out Coal India’s plan to list 25% shares of Bharat Coking Coal, also find out about Aesther Industries listing today. Business Term of the Day: Price Band Read more
In this episode, find out Reliance Brands’ plan to acquire 40% stake in Legno SPA, also find out about Hero MotoCorp’s plan to postpone its EV launch Business Term of the Day: Mu ... Read more
In this episode, find out Reliance Brands’ plan to acquire 40% stake in Legno SPA, also find out about Hero MotoCorp’s plan to postpone its EV launch Business Term of the Day: Mutual Fund Read more
In this episode, find out Nxtdigital’s plan to enter broadband over-satellite market, also find out about eMudhra’s tepid listing today. Business Term of the Day: Red Herring Pro ... Read more
In this episode, find out Nxtdigital’s plan to enter broadband over-satellite market, also find out about eMudhra’s tepid listing today. Business Term of the Day: Red Herring Prospectus Read more
In this episode, find out why small online sellers may have to register for GST, also find out about PayMate’s plans to raise Rs 1500 crore via IPO Business Term of the Day: Oppo ... Read more
In this episode, find out why small online sellers may have to register for GST, also find out about PayMate’s plans to raise Rs 1500 crore via IPO Business Term of the Day: Opportunity cost Read more
In this episode, find out about United Spirits plans to focus on its premium brands, also find out why crude oil stocks will be in focus today. Business Term of the Day: Through ... Read more
In this episode, find out about United Spirits plans to focus on its premium brands, also find out why crude oil stocks will be in focus today. Business Term of the Day: Throughput Read more
