Indian equities are expected to see stock-specific action on Wednesday as a host of companies reported quarterly results or announced corporate updates after market hours yesterday. Several firms across sectors such as IT, pharma, banking, consumer, auto, and manufacturing are likely to remain in focus.
On the earnings front, VMM posted a strong performance with net profit rising to ₹115 crore from ₹61 crore and revenue increasing to ₹2,548 crore from ₹2,069 crore year-on-year. CFF Fluid Control, Five Star Business, Schaeffler India, and IndiaMART also posted robust year-on-year growth in both revenue and net profit.
In the technology space, Infosys announced the launch of ‘Infosys Topaz for SAP S/4HANA Cloud,’ an AI-first suite aimed at accelerating SAP transformations, which may support the stock today.
On the pharma front, Alembic Pharmaceuticals received an Establishment Inspection Report (EIR) from the USFDA for its oncology formulation unit, while Strides Pharma’s US subsidiary acquired four approved ANDAs for the American market — both seen as positive triggers.
Azad Engineering inaugurated a new 7,600 sq. meter lean manufacturing facility in Hyderabad. Rajshree Sugars received a credit rating upgrade from CRISIL, and Aditya Ultra Steel approved leasing land from KPI Green Energy for setting up a 5000 KWP solar captive power plant.
Other key developments include:
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Solara Active Pharma incorporating a new unit named Synthix Global Pharma
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Endurance Technologies expanding into lithium-ion battery packs with a ₹47.3 crore capex
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India Pesticides increasing its Pretilachlor Technical production capacity
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CESC receiving regulatory approval for its PPA with Tata Power
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Rathi Steel restarting operations at its Steel Melting Shop
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Prestige Estates launching a new residential project with RERA clearance
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V Mart board to consider bonus issue on May 2
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Bajaj Finance board approving a 4:1 bonus issue and a 1:2 stock split
Fedbank Financial, Indostar Capital, Bajaj Finance, Bajaj Finserv, CEAT, Greenply, BPCL, and CIE Automotive reported results that were largely in line with expectations or slightly below estimates, leading to a neutral outlook for these counters.
Neutral corporate updates also include:
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GSK Pharma reappointing its CFO
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Rajoo Engineers, Ksolves India, Spectrum Electrical, KECL, Shree Krishna Infrastructure, and Kajal Synthetics announcing senior appointments
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SBIN planning a fundraise via FPO, rights, or QIP
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MMTC appointing Nitin Kumar Yadav as CMD
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Stake sale by TPG Rise Climate in Tata Technologies
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Ex-date announcements for dividends in Tanla Platforms, Vesuvius, ABB, Acme Solar, KSB, and Mold-Tek
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Bannari Amman’s ex-rights date today
Among notable weak results, Jana Small Finance Bank reported a significant drop in net profit to ₹123 crore from ₹321.6 crore. IndusInd Bank saw CEO Sumant Kathpalia resign over discrepancies in its derivatives portfolio. Meanwhile, UTI AMC, Star Health, Shoppers Stop, and Praj Industries also posted earnings that fell short of expectations, potentially weighing on their stock performance.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult certified financial professionals before making any investment decisions.
