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 why Religare Enterprises is looking to raise Rs 570 cr from investors, why US markets had a choppy session Business Term of the Day: Delisting Read more
In this episode, find out why Religare Enterprises is looking to raise Rs 570 cr from investors, why US markets had a choppy session Business Term of the Day: Delisting Read more
In this episode, find out why SEBI barred Franklin Templeton AMC from launching debt schemes, why Indian markets are set to open higher after a steady Asia opening Business Term o ... Read more
In this episode, find out why SEBI barred Franklin Templeton AMC from launching debt schemes, why Indian markets are set to open higher after a steady Asia opening Business Term of the Day: Apple’s WWDC Read more
In this episode, find out why G7 countries have reached a landmark global tax deal, why Bajaj Finance is expecting higher bad loans in the first half of FY22 Business Term of th ... Read more
In this episode, find out why G7 countries have reached a landmark global tax deal, why Bajaj Finance is expecting higher bad loans in the first half of FY22 Business Term of the Day: Gaps Read more
In this episode, find out why Softank is in talks with Flipkart once again, why traders are watching out for China opening Business Term of the Day: Monetary policy Read more
In this episode, find out why Softank is in talks with Flipkart once again, why traders are watching out for China opening Business Term of the Day: Monetary policy Read more
In this episode, find out why Supreme court said that india’s vaccine policy is irrational, why meme stocks rallied in US trade Business Term of the Day: Meme stocks Read more
In this episode, find out why Supreme court said that india’s vaccine policy is irrational, why meme stocks rallied in US trade Business Term of the Day: Meme stocks Read more
In this episode, find out why the major automobile manufacturers reported a decline in May sales, why PMI data fell to 10 month low Business Term of the Day: Reflation Read more
In this episode, find out why the major automobile manufacturers reported a decline in May sales, why PMI data fell to 10 month low Business Term of the Day: Reflation Read more
In this episode, find out why the Supreme Court has asked the centre to revise its vaccine policy, why Aditya Puri is interested in PNB housing Finance Business Term of the Day: ... Read more
In this episode, find out why the Supreme Court has asked the centre to revise its vaccine policy, why Aditya Puri is interested in PNB housing Finance Business Term of the Day: Revenue deficit Read more
In this episode, find out why the government has extended the ECLGS to airlines & hospitals, why Oil edged higher on Asia trading Business Term of the Day: Gross Domestic Pro ... Read more
In this episode, find out why the government has extended the ECLGS to airlines & hospitals, why Oil edged higher on Asia trading Business Term of the Day: Gross Domestic Product Read more
In this episode, find out why Sun Pharma & Eicher Motors Q4 earning disappointed, why US markets rallied on Thursday Business Term of the Day: Valuation Read more
In this episode, find out why Sun Pharma & Eicher Motors Q4 earning disappointed, why US markets rallied on Thursday Business Term of the Day: Valuation Read more
In this episode, find out why Uday Kotak believes that government should provide fiscal stimulus, why Amazon is looking to MGM for $8.5 bn Business Term of the Day: Follow on Pub ... Read more
In this episode, find out why Uday Kotak believes that government should provide fiscal stimulus, why Amazon is looking to MGM for $8.5 bn Business Term of the Day: Follow on Public offer Read more
