A round-up of the big stories
Here is a collection of the most important stories this evening:
Infosys Q4 results: Revenue rises 16%, profit up 8% YoY, but miss Street estimates
Infosys on April 13 reported a 7.8 percent YoY rise in its consolidated net profit at Rs 6,128 crore for the quarter ended March 2023. The company's consolidated revenue for Q4 FY23 came in at Rs 37,441 crore, up 16 percent against Rs 32,276 crore in the corresponding quarter of the previous fiscal. More here
Fortis Healthcare arm SRL Diagnostics may tap Kotak, I-Sec and Morgan Stanley for IPO launch
SRL Diagnostics, a subsidiary of listed parent Fortis Healthcare which is backed by Malaysia's IHH and its private equity investors, are in advanced discussions with Kotak Mahindra Capital, ICICI Securities and Morgan Stanley to shortlist the three as advisors for the diagnostic firm's proposed initial public offer, multiple industry sources in the know told Moneycontrol. More here
Merchandise trade deficit rises 39.6% on year in FY23
India’s merchandise trade deficit widened to $266.78 billion in the financial year 2022-23, rising 39.6 percent from a year earlier, financial year 2021-22, official data released on April 13 showed. More here
Oil marketing companies stare at heavy losses as fears of crude hitting $100 per barrel grow
Indian oil marketing companies (OMC), which saw a respite in March when global oil prices slumped below $75 per barrel, are in a difficult situation as oil prices are on a boil again. More here
Equity fund inflows rise to Rs 20,534 crore, highest in a year; SIP book tops Rs 14,000 crore for first time
Net inflows into open-ended equity funds jumped 31 percent to Rs 20,534.21 crore, a one-year high, during March even as Indian stock markets inched lower during the month, data released by The Association of Mutual Funds in India (AMFI) showed on April 13. More here
Won’t act on order scrapping 4% reservation to Muslims till April 18: Karnataka tells SC
The Karnataka government on April 13 told the Supreme Court that it will not grant any admissions or appointments based on its Government Order (GO) scrapping 4 percent OBC reservation to Muslims. More here
PV sales surge 26.7% to nearly 39 lakh units in FY23; 1 in every 2 vehicles sold was a UV
Total passenger vehicle sales in the country grew 26.7 percent in the fiscal year 2023 to 38,90,114 units from 30,69,523 units in FY22, according to data shared by the Society of Indian Automobile Manufacturers (SIAM).
More here.