Corporate actions taken by companies have a direct impact on the stock market. Speaking of, the quarterly results announced by some of the largest IT, FMCG, and auto companies on Tuesday will have a significant effect on how the stock market reacts. The Q4FY23 results of companies like Bajaj Auto, Dalmia Bharat, HDFC AMC, Nestle India, AU Small Finance Bank, Mahindra Holiday, Mahindra CIE, Nippon, Tata Consumer Products, Tata Steel Long Products, Rallis India, Mahindra Life, etc. will be eagerly anticipated by market investors.
From Bajaj Auto, Dalmia Bharat to HDFC AMC and Nestle India, let’s talk about the companies that will draw focus of investors amidst today’s intraday trading session.
On Tuesday, Tata Consumer Products will release its earnings report for the March quarter. The company announced in February that its net profit for the December 2022 quarter increased by 25.6% to 364.43 Cr from 290.07 Cr the prior year.
Mahindra will announce the results of two of its business segments, Mahindra CIE and Mahindra Holiday. As per Mahindra CIE’s reports, during the December quarter of 2022, its sales increased by 34% to reach 2246.84 Cr. In comparison to the same quarter a year ago, the company’s net profit increased to 657.81 Cr from 80.23 Cr. Comparatively to the year ending December 2021, the company posted a net loss of 136.17 Cr as opposed to 6765.17 Cr.
On Tuesday, HDFC Mutual Fund, one of the biggest mutual fund providers in the nation, will also report its Q4 financial results. The asset management company said that for the three months ending December 2022, its profit after tax (PAT) increased nominally by 3% to 369.5 Cr.
In comparison to the same quarter in FY22, when it concluded in December, its overall revenue increased by 4% to $663 Cr. Up till December 2023, it had an average asset under management of 4.45 lakh crore, compared to 4.47 lakh crore during the same period last year.
In addition to the aforementioned, today, Nestle India, a major FMCG company, will also present its Q1FY24 results report. Market analysts predict that the company will increase both its revenue and profit margins by double digits year over year. Price increases and modest sales of its milk-related items will be the primary drivers of company growth. In the preceding quarter, Q4CY22, Nestle reported a 66% YoY increase in net profit to 628 crore.
Also Read: Telegram Introduces New Features Against It’s Rival WhatsApp, Know All The Features Here
EAM S Jaishankar raises concerns over USAID funding allegations, prompting an investigation into possible foreign…
India will face arch-rivals Pakistan in a much-anticipated ICC Champions Trophy match at Dubai International…
The Punjab government revealed that it had mistakenly assigned a non-existent department to Cabinet Minister…
A serious accident occurred at Srisailam Left Bank Canal (SLBC) tunnel project in Nagarkurnool district,…
Mauritius PM Dr. Navinchandra Ramgoolam made a sannouncement that Indian PM Modi will visit sland…
BJP National President and Union Minister JP Nadda, accompanied by his family, participated in a…