Here are some of the major updates that could move the markets tomorrow:

Adani Ports Q4 Results: Net profit rises 5% YoY to Rs 1,159 crore

Adani Ports reported a 5% YoY increase in consolidated net profit to Rs 1,159 crore for the quarter ended March (Q4 FY23). Its consolidated revenue rose 40% YoY to Rs 5,797 crore during Q4 FY23. EBITDA stood at Rs 3,270.7 crore, up 59% YoY. The company’s board has recommended a dividend of Rs 5 per equity share.

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Inox Wind receives 150 MW order from NTPC Renewable Energy

Inox Wind secures a 150 MW wind power project order from NTPC Renewable Energy. The project will be located in Gujarat and Inox Wind will supply and install Wind Turbine Generators, as well as handle operation and maintenance services. This brings Inox Wind's total orders from NTPC to 550 MW. The addition will expand Inox Wind's O&M fleet and contribute to overall profitability.

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India’s growth momentum likely to be sustained in FY24: RBI

India’s growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, the Reserve Bank of India (RBI) said in its Annual Report 2022-23. The central bank added that the economy will be supported by sound macroeconomic policies, softer commodity prices, a robust financial sector, continued fiscal policy thrust on quality of government expenditure, and new growth opportunities stemming from global realignment of supply chains.

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Jubilant Pharmova's Canada unit gets OAI status

Jubilant Pharmova’s Canadian unit gets Official Action Indicated (OAI) status from the US Food & Drug Administration (USFDA). The USFDA might not approve applications or supplements for Jubilant Pharmova's Montreal facility. The regulator inspected the facility in February 2023 and found objectionable conditions. Jubilant HollisterStier, a subsidiary of Jubilant Pharmova, is working with the USFDA to address the observations within the given timeframe.

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Mankind Pharma Q4 Results: Net profit jumps 50% YoY to Rs 285 crore

Mankind Pharma reported a 50% YoY increase in consolidated net profit to Rs 285 crore for the quarter ended March (Q4 FY23). Its operating revenue rose 19% YoY to Rs 2,053 crore during Q4 FY23. For FY23, the company reported an 11% fall in consolidated net profit to Rs 1,282 crore, despite a 12.4% growth in revenue to Rs 8,749 crore.

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Triveni to expand capacity of its existing plants

Triveni Engineering & Industries will invest Rs 85 crore in expanding its sugar business. The company plans to increase the capacity of its sugar unit in Uttar Pradesh by 2,000 tonnes of cane per day, raising it from 7,000 Tonnes of Cane per Day (TCD) to 9,000 TCD. This expansion will bring the company's total crushing capacity to 63,000 TCD according to the company.

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Sun Pharma signs pact with Philogen to commercialise skin cancer drug

Sun Pharma has partnered with Philogen SpA to commercialize an under-development skin cancer drug called Nidlegy in Europe, Australia, and New Zealand. Nidlegy, currently in Phase III clinical trials, is being developed by Philogen for the treatment of melanoma and non-melanoma skin cancers. Sun Pharma will hold exclusive rights to commercialize the product and will share post-commercialization economics with Philogen in a 50:50 ratio.

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Apollo Hospitals Q4 Results: Net profit jumps 50% YoY to Rs 146 crore

Apollo Hospitals reported a 50% YoY increase in net profit to Rs 146 crore for the quarter ended March (Q4 FY23). Its operating revenue rose 21% YoY to Rs 4,303 crore during Q4 FY23. EBITDA stood at Rs 488 crore, up 5% YoY. The company’s board has recommended a dividend of Rs 9 per equity share.

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Prestige Estates acquires DB Group’s balance stake in 2 Mumbai projects for Rs 1,176 crore

Prestige Estates Projects has acquired the remaining stake in two projects located in Mumbai's Bandra-Kurla Complex (BKC) and Mahalaxmi locality from DB Group. The total cost of the acquisitions amounts to over Rs 1,176 crore. The projects are expected to be completed within the next 3-4 years. These strategic acquisitions will allow Prestige Estates Projects to strengthen its ownership in these prime assets and significantly enhance the value of its annuity rental portfolio.

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V-Guard Q4 Results: Net profit falls 41% YoY to Rs 53 crore

V-Guard Industries reported a 41% YoY fall in consolidated net profit to Rs 52.73 crore in Q4 FY23. However, its operating revenue rose 7% YoY to Rs 1,140 crore during Q4 FY23. EBITDA stood at Rs 99 crore, down 12% YoY. The company's board has announced a dividend of Rs 1.3 per equity share.

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Shriram Properties reports highest-ever sales volumes of in FY23

Shriram Properties Ltd (SPL) has reported the highest-ever sales volumes of 4.02 million sq. ft (msf) in FY23 with sales value reaching a new high of Rs 1,846 crore, up 25% YoY, supported by higher volumes, better realisation, change in product mix and the impact of seven launches. Gross collections stood firm at Rs 1,200 crore. SPL completed seven projects with an aggregate development area of 3.8 msf during the year.

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Patanjali Foods Q4 Results: Net profit rises 13% YoY to Rs 264 crore

Patanjali Foods Ltd reported a 13% YoY rise in standalone net profit to Rs 264 crore in Q4 FY23. The profit stood at Rs 234 crore in the same period last year. Its operating revenue also rose 18% YoY to Rs 7,873 crore during Q4 FY23. The company's board has recommended a dividend of Rs 6 per equity share.

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