𝙃𝘾𝙇 𝙏𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙞𝙚𝙨: Profit rises 4.4 percent QoQ; revenue grows by 1.2 percent sequentially. The IT services company recorded 4.4 percent sequential growth in profit at Rs 3,593 crore and 1.2 percent QoQ growth in revenue at Rs 22,597 crore, but earnings before interest & tax fell 4.4 percent QoQ to Rs 4,069 crore. The dollar revenue growth was half a percent QoQ at $2,993 million and revenue in constant currency showed 1.1 percent increase QoQ. The company reported total contract value (TCV) of new deal wins at $2,260 million for Q4, registering 6 percent QoQ growth, and has declared a dividend of Rs 18 per share.

𝙄𝘾𝙄𝘾𝙄 𝙇𝙤𝙢𝙗𝙖𝙧𝙙 𝙂𝙚𝙣𝙚𝙧𝙖𝙡 𝙄𝙣𝙨𝙪𝙧𝙖𝙣𝙘𝙚 𝘾𝙤𝙢𝙥𝙖𝙣𝙮: Profit for Q4FY22 falls 9.6 percent on year; net premium earned jumped 27 percent. The company reported 9.6 percent year-on-year decline in profit at Rs 312.5 crore, but net premium earned during the quarter jumped 27 percent to Rs 3,318 crore and total income grew by 33 percent to Rs 4,636 crore from a year ago. Even operating profit surged 29 percent YoY to Rs 1,009.6 crore during the quarter.

𝙏𝙑𝙎 𝙈𝙤𝙩𝙤𝙧 𝘾𝙤𝙢𝙥𝙖𝙣𝙮: To make additional investment in Norton Motorcycle. The company announced an additional investment of 100 million pound in Norton Motorcycle, Britain's most iconic sporting motorcycle brand. Norton Motorcycle was acquired in April 2020.

𝙇&𝙏 𝙏𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙮 𝙎𝙚𝙧𝙫𝙞𝙘𝙚𝙨: Profit for Q4FY22 increased 5.3 percent QoQ; revenue rises 4.1 percent. The IT company clocked 5.3 percent sequential growth in profit at Rs 262 crore on better EBIT that grew by 4.1 percent with flat margin at 18.6 percent QoQ, while revenue increased 4.1 percent to Rs 1,756.1 crore compared to previous quarter. North America, Europe and India supported revenue growth, but Rest of World segment reported 1.6 percent sequential decline in Q4. It has bagged $100 million plus electric air mobility programme from Jaunt Air Mobility. It will open an engineering and R&D centre in Québec Province for the next-gen electric aircraft manufacturer to provide engineering services for the Jaunt Journey eVTOL (electric Vertical Takeoff and Landing) air taxi.

𝙒𝙞𝙣𝙙𝙡𝙖𝙨 𝘽𝙞𝙤𝙩𝙚𝙘𝙝: ICICI Prudential MF acquired additional stake. ICICI Prudential Mutual Fund acquired 32,871 shares in the company via open market transactions on April 19. With this, its shareholding in the company has increased to 7.26 percent from 7.11 percent earlier.

𝘾𝙮𝙞𝙚𝙣𝙩: Profit for the quarter rises 17 percent QoQ; revenue declines 0.2 percent. The company recorded 17 percent sequential growth in profit at Rs 154.20 crore for the quarter ended March 2022 driven by higher other income, but revenue declined 0.2 percent QoQ to Rs 1,181.20 crore.

𝙎𝙖𝙨𝙠𝙚𝙣 𝙏𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙞𝙚𝙨: Profit for the quarter declined 10.6 percent; revenue grew 2.7 percent. Profit in Q4FY22 declined 10.6 percent sequentially to Rs 26.87 crore as EBITDA fell by 1.6 percent QoQ to Rs 29.36 crore, but revenue grew by 2.7 percent to Rs 109.2 crore compared to previous quarter. The company declared a final dividend of Rs 13 per share for FY22.

𝘿𝙞𝙭𝙤𝙣 𝙏𝙚𝙘𝙝𝙣𝙤𝙡𝙤𝙜𝙞𝙚𝙨: LIC bought additional shares via open market. Life Insurance Corporation of India bought additional 43,986 shares in the company via open market transactions. With this, LIC's shareholding in the company stands at 5.05 percent, up from 4.98 percent earlier.

𝙍𝙖𝙡𝙡𝙞𝙨 𝙄𝙣𝙙𝙞𝙖: Company incurred a loss for Q4FY22; revenue grows 7.7 percent. The Tata Group company posted a loss of Rs 14.15 crore in Q4FY22 against profit of Rs 8.12 crore in same period last year despite 7.7 percent growth in revenue, dented by loss at operating level. Topline increased to Rs 507.5 crore in the quarter ended March 2022, against Rs 471.3 crore in the corresponding period last fiscal.

𝙅𝙎𝙒 𝙀𝙣𝙚𝙧𝙜𝙮: Subsidiary to set up 1,500 MW hydro pumped storage project in Telangana. Subsidiary JSW Neo Energy is going to set up 1,500 MW capacity of hydro pumped storage project (PSP) - Komoram Bheem Pumped Storage Project - in Telangana. The company has entered into a memorandum of understanding with the state government for the project. With the project, the company has tied up resources for 5 GW hydro PSPs with the governments of various states (Maharashtra, Chhattisgarh, Telangana, and Rajasthan).

𝙈𝙚𝙧𝙘𝙪𝙧𝙮 𝙈𝙚𝙩𝙖𝙡𝙨: Acquired Kavit Infra Project Pvt Ltd. The company has acquired 100 percent stake in Kavit Infra Project engaged in infrastructure and development segment, and is in the process to acquire land for future projects.

𝟯𝗶 𝙄𝙣𝙛𝙤𝙩𝙚𝙘𝙝: Signed a Rs 12 crore deal with a leading insurance company in India. The IT company has signed a Rs 12 crore digital BPS transformational deal with a leading insurance company in India. The contract is spread over three years and the process will be delivered from their new centre at Hyderabad.

Results Today: HPCL, Ashok Leyland, Bosch, Chambal Fertilisers & Chemicals, Container Corporation of India, Endurance Technologies, Gland Pharma, Dr Reddy's Laboratories, Godrej Consumer Products, Novartis India, Ramco Systems, Punjab & Sind Bank, Rossari Biotech, Ujjivan Financial Services, and Suryoday Small Finance Bank

US market
witnessed its worst fall since 2020 with all the frontline indices losing 3-5%
DowJones falls nearly 1,200 points, whereas Nasdaq gives up about 600 points

𝗚𝗹𝗼𝗯𝗮𝗹 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 (𝗮𝘁 𝟳:𝟯𝟬 𝗔𝗠 𝘁𝗼𝗱𝗮𝘆)


SGX Nifty ▼ 0.3%
Nikkei 225 (Japan) ▼ 1.3%
Hang Seng (Hong Kong) ▼ 0.8%
SSE Composite (China) ▼ 0.5%
Dow Jones (US) (June 18) ▼ 0.1%
NYSE (US) (June 17) ▼ 0.4%
Nasdaq (US) (June 17) ▲ 1.4%
S&P 500 (US) (June 18) ▲ 0.2%

Shares of ABB INDIA in Monday’s trade jumped 8.5% on BSE to its new 52-week high of Rs 7,792.40 after the company reported an 87% jump in net profit at Rs 460 crore in the March 2024 quarter on the back of higher revenues.

During the quarter, consolidated revenues came in at Rs 3,080 crore, up 28% from Rs 2,411 crore posted in the year-ago period.

ABB India displayed a strong growth momentum in orders with a healthy mix of short & long-cycle opportunities. The order backlog also showed a healthy step-up of 25% from Q1 2023.

India Exim Bank's PAT rises 62% in FY24 to ₹2,518 crore

The government-backed Export-Import Bank of India (India Exim Bank) on Monday reported a profit after tax (PAT) of ₹2,518 crore for FY24, up 61.8% on year, on the back of robust growth in its loan portfolio and a rise in net interest income (NII).

The Mumbai-headquartered financial institution, which finances, facilitates and promotes India's international trade, said its total business for FY24 stood at ₹3.4 trillion, up 17.8% annually.

While India Exim Bank's net loan portfolio stood at ₹1.6 trillion during FY24, up 17.2% annually, its total borrowings were ₹1.5 trillion, up 20.4% on year during the same period.
The loan portfolio's growth in FY24 was driven by sectors like clean and renewable energy, automotive, engineering goods, pharmaceuticals, and telecommunications, and other strategic sectors like e-mobility, high-tech, aerospace also saw growth, Exim Bank said in a statement.

"In terms of the Non-Performing Assets (NPAs), with the improvement in asset quality and reduction in incremental slippages, the Gross NPAs declined significantly from 4.09% as on 31 March 2023, to 1.93% as on 31 March 2024, and the Net NPAs declined from 0.71% as on 31 March 2023, to 0.29% as on 31 March 2024," it added.

Food tech major Zomato on Monday said its subsidiary Zomato Payment Pvt Ltd (ZPPL) has decided to voluntarily surrender the certificate of authorisation it obtained from the Reserve Bank to operate as an online payment aggregator.

At Zomato, we do not see ourselves having a significant competitive advantage against the incumbents in the payments space and hence we don't foresee a business in payments space as commercially viable for us, at this stage.
"While we were conscious of these developments as they unfolded, the real impact was more apparent as we got closer to putting in place the structure to commence the operations," Zomato said in a regulatory filing.

The development comes months after the company received the licence from the central bank to operate as an online payment aggregator, with effect from January 24, 2024.
Zomato said the Board of Directors of ZPPL has also decided to withdraw the application dated November 11, 2021 submitted with the RBI to operate as the issuer of pre-paid payment instruments.
Zomato announced the incorporation of ZPPL in 2021 as its wholly owned subsidiary to carry out the business as a payment aggregator and an issuer of prepaid payment instruments

Vodafone Idea’s losses widened to ₹7,666 crore for the quarter ended March 2024, from ₹6,424 crore the year before, while revenues improved marginally to ₹10,639 crore, on the back of improving subscriber mix, 4G subscriber additions and change in entry level plan. Average revenue per user (Arpu), a key metric of profitability, improved to ₹146, up 7.6% on-year primarily aided by change in entry level plan and subscriber upgrades.

The No. 3 carrier by subscribers which raised ₹18,000 crore last month through India’s largest FPO, said that it was in talks with lenders to secure debt funding of ₹35,000 crore which will be used for expanding its networks.

NCC declared their Q4 results on 15 May, 2024, with the topline witnessing a significant increase of 29.46% compared to the previous year. The profit also showed a healthy growth of 25.31% year-on-year.

In comparison to the previous quarter, NCC saw a revenue growth of 23.28% and a profit increase of 8.39%.