Equity benchmarks will likely open calmly on Thursday ahead of the Reserve Bank of India’s monetary policy outcome. As noted by SGX Nifty, quoted at 17,600, the Nifty could open around 20-30 points lower.

US markets were mixed overnight, with yields softening on recession fears sparked by contracting services PMI data. The Dow rose 0.24%, while the S&P 500 and Nasdaq Composite fell 1%.

Dmart: Avenue Supermarts, which runs the retail chain DMart, reported a 20% year-on-year rise in standalone operating revenue to Rs 10,337 crore in the quarter that ended March (Q4FY23).

Tata Steel: Its consolidated steel production rose about 3% to 7.77 million tonnes in the fourth quarter of fiscal 2023. The company’s total steel production in the last quarter was 7.55 metric tons. Tata Steel’s total sales stood at 7.59 metric tons, down 3.43% from 7.86 metric tons in the same period in 2021-2022.

Hero MotoCorp: Under the leadership of a new CEO, Hero MotoCorp is now looking to streamline and move to a leaner organization. It launched a voluntary retirement scheme (VRS) for its staff to make the organization “agile and future-ready”.

Ujjivan SFB: Total deposits rose 39% to Rs 25,481 crore in Q4, while CASA deposits rose 35% to Rs 6,733 crore. Gross loans increased by 33% to Rs 24,114 crore.

Cholamandalam Investment and Finance Company: Expenses in Q4FY23 rose 65% YoY to Rs 21,020 crore. This is Rs 66,532 crore in FY23, an increase of 87% from FY22.

Equitas SFB: Total advances rose 36% YoY to Rs 28,061 crore in Q4FY23. Total deposits grew 34% year-on-year to Rs 25,381 crore. Expenses rose 80% year-on-year to Rs 5,917 crore.

Cyient: Its subsidiary Cyient DLM has received approval for a Rs 740 crore IPO from SEBI.

Nykaa: Beauty e-tailer Nykaa said on Wednesday it continued to show healthy revenue growth trends in the fourth quarter as tier-one consumers showed continued spending. The company said the beauty and personal care (BPC) business saw higher year-on-year growth in Q4FY23 compared to Q3FY23. The operating parameters of the BPC business, namely average order value and conversion rate, have remained strong, contributing to revenue growth. “For FY23, we expect our revenue growth percentage to be in line with the nine-month growth rate in the early 30s for FY23,” it said.

Reliance Industries: Reliance Retail entered the beauty space on Wednesday with the launch of Tira. This omnichannel beauty retail platform will offer a curated selection of global and local brands. The country’s leading retailer will now compete with Nykaa, Tata and LVMH’s Sephora in India’s growing beauty and personal care market.

Godrej Consumer: On a consolidated level, the company expects double-digit sales growth in the fourth quarter, led by mid-single-digit volume growth. Growth trends continued to improve, it said. The Indian business, which contributed more than 55% of its total revenue last quarter, “exceeded” expectations, while in Indonesia, it is gradually recovering, the company said.

Dalmia Bharat Sugar and Industries: The board has approved the establishment of a grain distillery at the company’s Nigohi division with a capacity of 250 KLPD and a capital expenditure of Rs 400 crore, which is expected to be commissioned by September 2024. This will be funded by debt and internal accruals. It further approved the capacity expansion of the Ramgarh Sugar plant from 6,600 TCD to 7,000 TCD at a capital expenditure of Rs 14 crore. Internal accruals will fund capital expenditure and are expected to be commissioned in November 2023.

Yes Bank: It reported credit growth of 11.3% to Rs 2.01 lakh crore in the March 2023 quarter. Deposits with lenders rose 12.9%, excluding certificates of deposit (CDs).

RVNL: It has emerged as the lowest bidder (L1) for a project worth Rs 121 crore on the Northern Central Railway.

Infosys: Infosys said on Wednesday it had expanded its partnership with data and analytics firm LexisNexis to provide information services across its content, enterprise and product applications.

Tatva Chintan Pharma Chem: Commercial production has successfully started at the company’s new facility at its Dahej manufacturing plant in Bharuch, Gujarat.