Nifty futures on the Singapore Exchange traded higher, signaling that Dalal Street was headed for a positive start on Friday. Both Nifty and Sensex closed Thrusday in the red. The BSE Sensex plunged 1,416 points or 2.6 percent to 52,792, while the Nifty50 declined 431 points or 2.65 percent to 15,809.
US Stocks ended another volatile day lower on Wall Street on Thursday, bringing the market closer to its first bear market since the beginning of the pandemic.
Sliding for the second straight session, the rupee dipped 3 paise to close at a fresh lifetime low of 77.65 against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows.
Stocks in the news:
Corporate results today: NTPC, One 97 Communications (PayTM), Amara Raja Batteries, Gati, HeidelbergCement India, Indiabulls Housing Finance, IDFC, Indigo Paints, Indian Railway Finance Corporation, JK Tyre and Industries, CE Info Systems, Metro Brands, Narayana Hrudayalaya, Nuvoco Vistas Corporation, Paras Defence and Space Technologies, Pfizer, SML Isuzu, Sobha, Thermax, and Zydus Lifesciences will report their March quarter earnings on May 20.
Dr Reddy’s profit for the March quarter fell 76% year on year to Rs 87.5 cr. The company has announced a dividend of Rs 30 per equity share.
M&M has signed an agreement with VW to study the feasibility of using VW’s components in M&M’s electric cars.
Wipro: The IT major has launched its new innovation studio at Austin in Texas, US. Wipro said that the new centre, spread over 40,000 square feet, will create hundreds of jobs locally.
Ashok Leyland: The company reported a 274 percent YoY jump in net profit at Rs 901.4 crore for the fourth quarter of FY22.
IDBI Bank has sold its 19.1% stake in Asset Reconstruction Company India (ARCIL) to Avenue India Resurgence Pte.
HPCL: State-run oil refiner and marketer Hindustan Petroleum Corporation posted a 34 percent decline in consolidated net profit in the March quarter to Rs 2,019 crore
Shriram City Union Finance announced a hike in FD rates in the range of 0.15 to 0.25%.
Steel Exchange India the board has recommended a 1:10 stock split.
Equitas Small Finance Bank: The Founder and CEO of the private lender PN Vasudevan has asked the lender to look for his successor as he wants to hang up his boots to pursue “a distinct set of goals
GIC Housing Finance has approved raising funds by issue of non-convertible debentures up to Rs 2500 cr.
Maruti Suzuki announced plans to invest Rs 18,000 cr in its new plant in Sonipat.
Biocon: The pharmaceutical player said its arm Biocon Biologics and Viatris Inc have launched their biosimilar product — Abevmy (bBevacizumab) — in Canada for use in treatment of cancer. Abevmy, co-developed by Biocon Biologics and Viatris, is a biosimilar to Roche’s Avastin (Bevacizumab) and has been approved by Health Canada across four oncology indications.