Indian markets are set for a positive start tracking mixed global cues on Tuesday. The Singapore-traded SGX Nifty futures, an early indicator of the mood on the D-Street, rose 0.23 per cent to 16,212.00 as of 7:10 am Tuesday, hinting at a green start. Equity indices frittered away a good start to close with modest losses on Monday, pressured by heavy selling in metal stocks after the government imposed export duties on steel-making raw materials to curb soaring prices. Sensex opened strong and gained momentum as the session progressed, but came under severe selling pressure in afternoon trade to close 37.78 points or 0.07 per cent lower at 54,288.61. On similar lines, the broader NSE Nifty slipped 51.45 points or 0.32 per cent to end at 16,214.70.
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Maruti Suzuki
Maruti Suzuki India said it will acquire an equity stake of 12.09 percent in Sociograph Solutions Pvt Ltd (SSPL) for about Rs 2 crore. SSPL is an artificial intelligence (AI) software company that specialises in visual AI platforms predominantly used to help enterprises improve sales experiences and improve efficiency in their business.
ONGC
ONGC told exchanges that it has become the first explorer to trade natural gas produced from local fields on the Indian Gas Exchange. The gas was sold from ONGC’s KG-DWN-98/2 in offshore Krishna Godavari Basin, it said without giving volume and price detail. ONGC also said that it will slowly raise the trading volume.
Zomato
Zomato said its consolidated net loss for the quarter ended March widened to Rs 359.7 crore compared to Rs 134.2 crore in the corresponding quarter last year. Revenue from operations came in at Rs 1,211.8 crore, up 75.01 percent compared to Rs 692.4 crore a year ago. “We are aiming for accelerated growth along with further reduction in losses (and increasing profits in some time). We are clear on what our long term shareholders expect of us and we are working hard to deliver on both growth and profitability expectations,” the company said.
Delhivery
The logistics and supply chain firm is set to make its debut on the bourses today. The Delhivery issue price has been fixed at Rs 482 per share.
Birlasoft
The company’s consolidated net profit for the fourth quarter of FY22 came in at Rs 132.9 crore as against Rs 113.9 crore posted in the previous quarter. While revenue stood at Rs 1,104.2 crore as compared to Rs 1,071.9 crore on quarter. Birlasoft will buy back up to 2.79 percent of shares at a price of Rs 500 per share for an amount up to Rs 390 crore.
Marico
Marico has announced a strategic investment in HW Wellness Solutions, owner of health food brand True Elements, with an acquisition of 54 percent equity stake. The firm said it is in all cash deal but did not disclose the acquisition amount. True Elements is in the healthy breakfast and snacks segments. Its portfolio includes oats, quinoa, muesli, granola, flakes and Indian breakfast including poha, upma and dosa among others.
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