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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.31% higher at 16,110.50, signalling that Dalal Street was headed for a positive start on Wednesday.
Major Asian stocks were slightly higher on Wednesday as investors were cautiously optimistic about global economic outlook. Japan’s Nikkei 225 index rose 0.33% higher and Topix was up 0.19%. China’s Hang Seng advanced 0.62% and CSI 300 index edged up 0.08%.
Indian rupee fell 16 paise to hit a fresh record low of 79.60 against the US dollar on Wednesday.
FII/DII Trading Data
Stocks in News Today
HCL Technologies: The IT company reported a net profit of Rs 3,283 crore, up 2.4% year-on-year (YoY), but was down 8.6% sequentially for the quarter ended June 2022. Revenue for the first quarter of FY23 stood at Rs 23,646 crore, up 16.9% YoY. The growth was 3.8% sequentially. The company’s growth was driven by its engineering and R&D segment, which grew 23% YoY and 3.7% sequentially. The IT and services business grew by 18.1% YoY.
Vodafone Idea: The telecom operator has introduced course materials for Agniveer exams that will be conducted by Indian defence forces this year, the company said on Tuesday. The company has partnered with edtech firm Pariksha to launch the course on its app.
Axis Bank: The private lender said Reserve Bank of India (RBI) has approved the reappointment of Rakesh Makhija as the Non-Executive Chairman till October 2023.
Delta Corp: The company’s consolidated revenue rose 15% to Rs 250.27 crore and net profit increased 19% to Rs 57.13 crore in Q1FY23. EBITDA increased 27% to Rs 87.50 crore in Q1FY23.
UCO Bank: The bank’s shareholders have approved equity capital raising plan worth Rs 100 crore during the financial year FY23 through issue of up to 100,00,00,000 equity shares of Rs 10 each by way of various capital raising options at an appropriate time and premium.
New India Assurance Company: The public sector undertaking said its General Manager Madhulika Bhaskar has been given additional charge as CMD for a period of three months. The tenure of Atul Sahai as the Chairman-cum-Managing Director (CMD) of the company had ended on February 28, 2022 following his superannuation.
Anand Rathi Wealth: The company reported 33.6% jump in profit after tax at Rs 39.7 crore for three months ended June 2022, compared with a PAT of Rs 29.7 crore in the same quarter preceding fiscal. Total revenue rose by 35.7% to Rs 133.5 crore in the quarter under review from Rs 98.4 crore in the first quarter ended Jun 2021.
City Union Bank: The bank has signed a bancassurance agreement with Bajaj Allianz Life Insurance for distribution of its products through its branch network.
Sterling and Wilson Renewable Energy: The company reported widening of its consolidated net loss to Rs 355.99 crore for the quarter ended June 30, due to increased input costs. The company had clocked a net loss of Rs 76.02 crore in the year-ago period.