The February futures contract for Nifty 50, traded on the Singapore Exchange, indicates a positive start for domestic equities. The contract traded at 17,710, up 71 points or 0.40% from the previous close.

Third Quarter Earnings Today: Bank of Baroda, Divi’s Labs, Aarti Industries, Borosil, Dhanuka Agritech, Dalmia Bharat, ITC, InterGlobe Aviation (IndiGo), kansai Nerolac, India Cements, JK Tire, Marico, Paytm, M&M Financial Services, Manappuram Finance, SBI, Star Cement, Tata power, Zydus Life and Thyrocare Tech are some of the notable companies due to release their FY3 results today.

Adani Enterprises: Adani Group companies made scheduled coupon payments on outstanding US dollar bonds on Thursday, Reuters reported. Adani Group plans to release a credit report by Friday that will address the concerns raised in the Hindenburg report about its liquidity, the report said.

Adani Ports, Adani Enterprises, Ambuja Cements: The National Securities Exchange (NSE) listed Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ) and Ambuja Cements on Thursday as shares that require up to 100% trading margin and are subject to greater scrutiny to curb short selling. The Anticipated Short Term Additional Supervisory Measure (ST-ASM) Stage 1 will apply to these shares in newly created positions starting February 6th.

TVS Motor: The company told exchanges on Thursday that it has invested $9.5 million in Ion Mobility to further advance its electrification program.

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SBI Life: Responding to investor concerns about the latest budget proposals, SBI Life said the product portfolio in premium annual equivalent (APE) products is well diversified, with 56.4% unit-related, 27.4% non-unit-related, 10. 1% are reserved. 2.8% per annum and 3.3% of group funds. The share of unrelated policy business with an annual premium above Rs 500,000 is less than 2 percent of the total APEs for 9 MFY2023. The company firmly believes that the impact is negligible. READ MORE

HDFC Life: Similarly, HDFC Life has clarified to investors that its product portfolio, based on annual premium equivalent (APE), is well diversified across different product segments. Our initial estimate, the company said, indicates that business at risk could account for approximately 10-12% of total APE, and the impact on new business value would be lower than the impact on total APE. The Company will work on mitigation measures in due course. READ MORE

Berger Paints: Berger Paints India Ltd on Thursday reported a 20.47% decline in its consolidated net income to Rs 201.17 crore for the third quarter ended December 2022. Operating revenue rose 5.59% to Rs 2,693.59 crore during the quarter. READ MORE

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Thomas Cook: The company’s consolidated operating profit rose 105% year-on-year in the third quarter of fiscal 2023 to Rs 1,536.3 crore and pre-tax operating income was Rs 58.4 crore compared to a loss of Rs 28.9 crore rupees, reflecting a strong recovery. and business momentum by segment. Its net profit was Rs 26.54 crore against a year-on-year loss of Rs 24.59 crore.

Fino Paymenst Bank: Fino Payments Bank on Thursday reported a 35.5 percent jump in net income for the December quarter to Rs 19.1 crore, helped by higher profit margins. Payments bank Navi Mumbai said its revenue rose 14.2% to Rs 314.1 crore in the reported quarter.

Mahanagar Gas: The company reported total revenue of Rs 1,870.69 crore for the period ended December 31, 2022, compared to Rs 1,144.72 crore last year. Net income for the quarter was Rs 172.07 crore compared to a year-on-year net income of Rs 56.79 crore.

Karnataka Bank: The private sector lender on Thursday reported a net profit of Rs 301 crore for the 3rd quarter of fiscal year 23, recording a solid growth of 105%. Gross NPs decreased to 3.28% from 3.36% quarter-on-quarter. Meanwhile, net NPA fell to 1.6% from 1.72% qoq.

Crompton Greaves Consumer Electricals: The company’s total revenue for Q3 FY23 rose by about 8% to Rs 1,537.51 crore compared to Rs 1,424.63 crore in Q3 FY22. However, net income decreased by 42.5% to Rs 85.25 crore compared to year-on-year net income of Rs 148.26 crore.

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IG Petrochemicals: The company’s board of directors has approved the creation of a wholly owned subsidiary. Upon incorporation, the proposed wholly owned subsidiary should explore new opportunities in the petrochemical sector, petrochemical marketing and raw material sourcing.

Inox Green Energy Services: The company has entered into a definitive investment agreement with I-Fox Windtechnik India Private Limited, an independent provider of wind farm operation and maintenance services, to acquire a majority stake. The transaction price is Rs 3,5947.71 per share.

Aavas Financiers: The lender reported a net profit of Rs 303.5 crore in the third quarter of fiscal year 2023, up 26% from the previous year. Management stated that Sushil Kumar Agarwal will continue as Managing Director (MD) and Sachinder Pal Singh will be named Chief Executive Officer (CEO).

Shares of automobile companies. Speaking to a news channel, Road Transport Minister Nitin Gadkari said on Thursday that lithium-ion battery prices will (soon) come down and the auto industry will not need subsidies.

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