The key benchmark indices are likely to open marginally higher tracking positive cues from the overseas markets. However, the action thereafter would largely depend on the RBI policy meeting outcome. As of 07:10 AM, the SGX Nifty April futures quoted at 17,741 – indicating an opening gain of 40-odd points on NSE Nifty 50.
Earnings Watch: GTPL Hathway and PTC India Financial Services to announce Q4 results today.
Sterling & Wilson Renewable Energy (SWRE): The company significantly narrowed down its quarterly loss to Rs 157.81 crore for the quarter ended March 2022 when compared with a loss of Rs 467.06 crore in the corrresponding quarter a year ago. Total income also declined 22.7 per cent from Rs 1,416.33 crore to Rs 1,094.47 crore.
Asian Granito India: The company has fixed April 12 as the record date for the proposed Rs 440.96 crore rights issue at Rs 63 per share. The share entitlement ratio is fixed at 37:30 i.e. as per the record date shareholders will be eligible to subscribe for 37 shares on rights basis for every 30 shares held in the company. The rights issue period will be from April 25 to May 10.
Infosys: The IT major and Rolls-Royce, on Thursday inaugurated their joint ‘Aerospace Engineering and Digital Innovation Centre’ in Bengaluru, India. This centre has been established to provide high-end research and development (R&D) services integrated with advanced digital capabilities to Rolls-Royce’s engineering and group business services from India.
Insurance: The insurance regulator, IRDA, wants removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players.
BS Special:: Q&A wth Karni S Arha, managing director, Bandhan Financial Holdings
Bandhan endeavours to be a holistic financial services group, says Karni. He shares his thoughts behind the acquisition of IDFC Asset Management Company (AMC) - the largest deal in the segment so far. READ MORE
Pharma: Indian drug firms have been prolific with brand launches over the past 10 years despite the reduction in growth contribution from new products in recent years. Industry insiders say brand launches are the lifeline of the pharma industry, and ensure steady volume growth and market share. READ MORE
Telecom: In a move to boost financial inclusion, telecom regulator Trai has scrapped the charges levied on USSD messages, which are mostly availed by feature phone users, for transactions related to mobile banking and payment services. So far, the charge was 50 paise per USSD session. Trai may review the charge for a period of two years. READ MORE
Tata Steel: The steel major on Thursday said the Kolkata bench of the National Company Law Tribunal (NCLT) approved the resolution plan submitted by its wholly-owned subsidiary Tata Steel Mining Limited, for the acquisition of debt-laden Rohit Ferro-Tech Limited.
Mahindra & Mahindra (M&M): The automaker has terminated its deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors, owing to the latter’s inability to deposit the bid amount.
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