Tata Consultancy Services: Reported a 7.4% year-on-year rise in its March quarter net profit, slightly below analysts’ estimate, as rising employee costs squeezed earnings even as demand remained robust. Net profit rose to ₹9,926 crore during the period, trailing the ₹10,077 crore consensus profit estimate in a Bloomberg survey. Revenue grew 15.8% on year to ₹50,591 crore, beating the ₹50,249 crore consensus Bloomberg estimate.
Telecom stocks: The telecom regulator has recommended a 36% cut in the base price of 5G spectrum band (3300-3670MHz band) to ₹317 crore on a pan-India basis from the ₹492 crore it suggested in 2018, offering major relief to telcos and setting the stage for them to secure prized airwaves in a government auction.
he Reserve Bank of India on Monday decided to restore the opening time of financial markets regulated by itself to their pre-pandemic time of 9 am, with effect from April 18.
ZEE Entertainment Enterprises: Has decided to go full throttle on its movie production business, housed under Zee Studios. The company, which released 23 films in the financial year that ended March 31, is looking to more than double that to 48 in the current year and is eyeing revenues of ₹2,000 crore to ₹2,500 crore from the movie business alone.
Ruchi Soya: Baba Ramdev’s Ruchi Soya Industries has said it will evaluate the most efficient mode to merge Patanjali Ayurved Ltd’s food portfolio with itself and has also decided to change the name of the company to Patanjali Foods Ltd. The company recently raised ₹4,300 crore through a follow-on public offer. It has also repaid ₹2,925 crore loans to banks and has become debt free.
UltraTech Cement: Has been declared a preferred bidder for the Diggaon limestone block. The company participated in the e-auction conducted by the Karnataka government. The block is adjacent to the company’s Rajashree unit
Piramal Enterprises: The Supreme Court has stayed the NCLAT’s order in which it had sent back the Piramal Group’s winning bid for DHFL to the debt-laden finance company’s lenders for reconsidering the valuation. Piramal Enterprises Ltd had bought the bankrupt DHFL in September 2021 by making an upfront cash payment of ₹14,700 crore to creditors. It had made a total payment of ₹34,250 crore, which included a debt instrument issuance of ₹19,550 crore.
JSW Steel: JSW Utkal Steel, a subsidiary of JSW Steel, has received environmental clearance for setting up a greenfield integrated steel plant with a capacity of 13.2 million tonnes per annum crude steel, from the government. The capital expenditure for the project is estimated at ₹65,000 crore.
Adani Green Energy: The company on Monday entered the list of top-10 valued firms as its market valuation zoomed to over ₹4.22 lakh crore, backed by a sharp rally in its share price. The company commanded a market valuatuion of ₹4,22,526.28 crore to grab the tenth spot on the top-10 list.
Moving on to markets
The key benchmark indices are likely to start Tuesday’ session on a negative note as global sentiment remains weak. The SGX Nifty futures were quoting at 17,573 levels around 8 am, hinting at a gap-down start of 150 points for the Nifty50. The markets will be reacting to TCS Q4 numbers that were announced the previous day after market hours
Moreover, key economic data is also on the radar with the CPI and IIP numbers for March and Feb, respectively, slated to be released today. The US CPI numbers will also be announced later in the day.
Overnight, the US markets started the holiday shortened week with heavy losses as bond yields rose to a 3-year high ahead of inflation data on Tuesday.
Brent crude tumbled 4.2 per cent to $98.48 a barrel
Business term of the day
An infrastructure investment trust, simply put, is a pooled investment vehicle like a mutual fund. While mutual funds invest the sum received in financial securities, an InvIT invests the same in real infrastructure assets like roads, power plants, transmission lines, pipelines etc.
In this episode, find out about Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst ... Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst Life Insurance Business Term of the Day: Inflation targeting Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gif ... Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gift City Business Term of the Day: Government borrowing Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term ... Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term of the Day: Gig economy Read more
In this episode, find out about BHEL getting an order from NTPC and how much film exhibition company PVR Cinemas will invest to open 100 new screens in FY23. Read more
In this episode, find out about BHEL getting an order from NTPC and how much film exhibition company PVR Cinemas will invest to open 100 new screens in FY23. Read more
In this episode, find out about the Shares of Tata Steel had a rise of 1.21% (Rs. 104.9) at 12:33 hours at BSE. So far today 52.6 Lac shares of the company were traded at the BSE. ... Read more
In this episode, find out about the Shares of Tata Steel had a rise of 1.21% (Rs. 104.9) at 12:33 hours at BSE. So far today 52.6 Lac shares of the company were traded at the BSE. Business term of the day: PLI Scheme Read more
In this episode, find out about CCI’s approval for the merger of Jio Cinema OTT with Viacom 18 Media, and also find out why the Future unit has canceled plans to sell assets Busin ... Read more
In this episode, find out about CCI’s approval for the merger of Jio Cinema OTT with Viacom 18 Media, and also find out why the Future unit has canceled plans to sell assets Business Term of the Day: First Loan Default Guarantee (FLDG) Read more
In this episode, find out about NCLT’s approval for the merger of Exide Life with HDFC Life, and also find out about the government’s plan to grant DFI status to REC to boost clima ... Read more
In this episode, find out about NCLT’s approval for the merger of Exide Life with HDFC Life, and also find out about the government’s plan to grant DFI status to REC to boost climate funding Business Term of the Day: Development Finance Institution Read more
In this episode, find out about Reliance Retail’s plan to double its borrowing limit to ₹1 lakh crore, and also find out about Fairfax’s move to sell a majority stake in Fairchem O ... Read more
In this episode, find out about Reliance Retail’s plan to double its borrowing limit to ₹1 lakh crore, and also find out about Fairfax’s move to sell a majority stake in Fairchem Organics Business Term of the Day: Mark to Market. Read more
In this episode, find out about the muted listing of Tamilnad Mercantile Bank on the bourses and about Byju’s Rs 4500 crore loss in FY21. Business Term of the Day: Benchmark Prime ... Read more
In this episode, find out about the muted listing of Tamilnad Mercantile Bank on the bourses and about Byju’s Rs 4500 crore loss in FY21. Business Term of the Day: Benchmark Prime Lending Rate Read more
