Domestic markets will likely start Thursday’s session negatively amid gloom in global hints. The SGX Nifty fell to 17,456 as of 7:40 am, down more than 50 points.
Globally, US markets were tepid overnight, with the Dow closing in the green, while the Nasdaq Composite and S&P 500 fell as much as 0.6%.
HDFC Bank: The private sector lender has partnered with IRCTC to launch the ‘IRCTC HDFC Bank Credit Card’, offering exclusive booking benefits through the IRCTC website and app, lounge access and more. Management said the co-branded card would grant exclusive access to state-of-the-art lounges opened at various train stations.
Hero MotoCorp: The two-wheeler maker’s total wholesale volume rose 10% year-on-year in February to 390,000 vehicles from 350,000 a year earlier. Sales in the domestic market also rose to 380,000 in February from 330,000. However, exports fell to 12,143 units.
NMDC: The company reported a 4% increase in iron ore production to 4.48 million tonnes in February 2023, compared with 4.31 tonnes a year earlier. However, iron ore sales fell by 4.78% to 3.78t in February 2023, compared to 3.97t in the same month last year.
PVR: The multiplex operator expects double-digit revenue growth in FY24 following its merger with Inox Leisure. Management said the combined entity plans to add 200 screens a year and tap the potential of smaller markets. Additionally, some attributes must also be upgraded.
Tata Motors: The automaker’s total February wholesales rose 3% from a year earlier to 79,705 vehicles from 77,733 a year earlier. While passenger car sales rose to 40,181 in February, commercial vehicle sales fell to 36,565.
Sunteck Realty: The real estate company has signed an exclusive lease agreement with Upgrad for the premium commercial project ‘Sunteck BKC51’, which will generate gross revenue of Rs 2,000 crore during the lease term.
Lupin: Lupin’s Diagnostics division expands its presence in South India by establishing a new regional reference laboratory in Hyderabad. Management expects to open more than 200 collection centres in South India by March 2024.
KNR Constructions: The company has received a letter of acceptance to develop a six-lane gated greenfield expressway from Marripudi to Somvarappadu Bengaluru-Vijayawada Economic Corridor in HAM mode.
Welspun Corporation: The company was awarded a contract to export LSAW pipes and bent to the Middle East. The contract is for 83,000 tonnes of bare pipe, with the project owner subsequently able to exercise a coating option.
TVS Motor: Sales at the auto major fell 1.97% to 270,000 vehicles in February. In its electric vehicle business, management said it sold a record 15,522 vehicles in February 2023, breaking the 15,000-unit mark, compared with 2,238 a year earlier.
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