13 January 2023
FII & DII DATA
FII Net SELL - 2422.39cr
DII Net BUY - 1953.4cr
16 January 2023
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Quarterly Results News, Stocks in Focus
HDFC Bank
The lender reported a 19.9% jump in its consolidated net profit for the quarter ended December 2022. Beating market estimates, it reported a net profit of Rs 12,698 crore, an increase of 18.5 percent over the quarter ended December 31, 2022. The bank's December quarter net revenue grew by 18.3% to Rs 31,488 crore from Rs 26,627 crore last year
Tata Motors
The company has filed Form 25 with the Securities and Exchange Commission (SEC), USA, for termination of its American Depositary Share Program. SEC Form 25 is the document filed by a company to delist its securities.
Delhivery
The logistics company has completed the acquisition of Algorhythm Tech. With this, Algorhythm has become a wholly owned subsidiary of the company w.e.f. January 13, 2023.
Whirlpool
Vishal Bhola has resigned as Managing Director of the company, to pursue other interests. He will be relieved from the services of the company as Managing Director with effect from April 4, 2023. The Board has appointed Narasimhan Eswar as Additional Director and Managing Director with effect from same date for a period of 5 years.
DMart
Avenue Supermarts, owner and operator of DMart chain of retail stores, reported a 6.6 percent rise in consolidated post-tax profit at Rs 590 crore for the quarter ended December 2022 as against Rs 553 crore in the same quarter of the previous year. Total revenue for the October-December quarter stood at Rs 11,569 crore, as compared to Rs 9,218 crore in the same period last year, Avenue Supermarts said in a stock exchange filing on January 14. This indicates a growth of 25.5 percent YoY.
Wipro
The IT services company has reported nearly 15% sequential growth in consolidated profit at Rs 3,053 crore for quarter ended December FY23, led by better operating performance and higher other income. Revenue for the quarter at Rs 23,055.7 crore grew by 3.1% sequentially and revenue in dollar terms increased by 0.2% QoQ to $2,803.5 million with revenue growth in constant currency at 0.6%. Operating performance was better than analysts' expectations with EBIT growing 11% QOQ to Rs 3,750.4 crore and margin expanding 119 bps to 16.3% for the quarter. Wipro expects revenue growth in the range of 11.5-12% in constant currency terms for FY23.
Dr Reddy's Laboratories
The pharma company has acquired trademark rights of breast cancer drug, PRIMCYV, from Pfizer Products India. With these rights, the company will use drug in the Indian market. Since May 2022, company has been marketing the drug in collaboration with Pfizer Products India under the brand name PRIMCYV in India.
Mahindra & Mahindra
The National Company Law Tribunal has approved the merger of Mahindra Electric Mobility with Mahindra & Mahindra. The appointed date of the scheme is April 1, 2021.
New Delhi Television
Senior officials of the company - Suparna Singh (President, NDTV Group), Arijit Chatterjee (Chief Strategy Officer), Kawaljit Singh Bedi (Chief Technology and Product Officer) - have resigned. The company is in the process of putting up a new leadership team which will set a fresh strategic direction and goals for the company.
L&T Finance Holding
The non-banking finance company has reported consolidated profit at Rs 454 crore for quarter ended December FY23, growing 39% YoY. Net interest income grew by 24% YoY to Rs 1,693 crore for the quarter with net interest margin (including fees) expanding by 70 bps YoY to 8.8%. The company concluded divestment of the mutual fund business and received sale consideration of Rs 3,485 crore along with surplus cash balance Rs 764 crore, thereby aggregating to Rs 4,249 crore. L&T Finance Holdings' board has approved merger of 3 subsidiaries - L&T Finance, L&T Infra Credit, & L&T Mutual Fund Trustee - with the company.
Bharat Agri Fert & Realty
The Board of directors of the company will consider sub-division of equity share from the face value of Rs 10 per share to Re 1 per share
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