Nifty and Sensex may open flat amid mixed global cues. The Nifty futures on the Singapore Exchange were trading 6 pts or 0.03% higher at 17793 in the early morning trade. Asian markets were trading mixed, with Japan’s Nikkei 225 rising 0.53%, China’s Shanghai Composite climbing 0.38%, South Korea’s KOSPI dropping 0.17% and Hong Kong’s Hang Seng falling 0.89%. The US market ended the overnight session mostly in red – Dow Jones Industrial Average rose 0.29%, S&P 500 fell 0.17 pts and the tech-heavy Nasdaq plunged 0.43%.
Stocks in focus on 12 April, Wednesday
TCS
India’s largest IT company Tata Consultancy Services (TCS) is expected to report a double-digit jump in net profit for the fiscal fourth quarter, with estimates going as high as nearly 18% on-year, helped by strong sales and large deals momentum. TCS will kick off earnings season with its Q4 FY23 results scheduled on 12 April 2023. Its revenue for the January-March 2023 quarter may have risen as much as 17.6% on-year.
Sula Vineyards
Sula Vineyards on Tuesday announced March 2023 quarterly sales figures. In Q4, Sula reported the highest-ever annual revenues in both its own brands and wine tourism business. As per the regulatory filing, Sula registered an upside of 15% in own brands sales to Rs 104.3 crore during the March quarter as compared to Rs 90.7 crore in the corresponding quarter last fiscal.
HDFC Bank
HDFC Bank on Tuesday said that the bank’s board of directors proposes to raise Rs 50,000 crore through bonds in the next twelve months on a private placement basis. The private lender’s board of directors are to meet on 15 April 2023, said HDFC Bank in its regulatory filing.
ONGC
Oil and Natural Gas Corporation Limited (ONGC) has commissioned a new gas collecting station (GCS) in its Bokaro coal bed methane block. It is the first gas collecting cum gas compression station in the Bokaro CBM (Coal Bed Methane) Block.
LIC
Life Insurance Corporation of India (LIC) on Tuesday said that it has appointed PC Paikray as Chief Risk Officer and Ratnakar Patnaik as Chief Investment Officer. The company said that Ratnakar Patnaik, who has been appointed as Chief Investment Officer, will replace P R Mishra, who has been transferred and posted to another assignment. His appointment as CIO came into effect from April 10, 2023, said LIC in its regulatory filing.