Stocks are expected to start the day on a sluggish start Tuesday as markets in Asia were mixed. At 7:40 am, the SGX Nifty was down 25 points at 18,324.

Mankind Pharma: Mankind Pharma will make its stock market debut on Tuesday after successfully completing a Rs 4,326 crore initial public offering (IPO). According to grey market players, sales of the country’s fourth-largest pharmaceutical company are expected to post double-digit growth from its IPO price of Rs 1,080 crore.

PNB Housing Finance: Punjab National Bank has injected Rs 498.75 crore in the rights issue of PNB Housing Finance Limited (PNBHFL); the lender notified the exchange in a document.

Kansai Nerolac: The company’s board of directors has approved the distribution of bonus shares at a ratio of 1:2, subject to the approval of the company’s shareholders. With this, the authorised share capital will be increased from Rs 66.5 crore to Rs 85 crore.

R Systems International: The delisting offer was deemed unsuccessful because the post-bid stake of the acquirers (BCP Asia II Topco II Pte Ltd and Blackstone Capital Partners Asia II L.P) did not exceed 90% of the voting rights, the company announced in an exchange filing.

Kalpataru Power Transmission: The board of directors of Kalpataru Power Transmission Limited has approved the company’s proposal to issue secured/unsecured redeemable non-convertible bonds in tranches or tranches of up to Rs 300 crore.

JBChemicals and Pharmaceuticals: The company’s board of directors will meet on May 24 to consider and approve financial results for the quarter and year ending March 31, 2023. In addition, a proposal to subdivide/split the equity shares of par value Rs 2 each into equity shares of face value Re 1 will also be considered and approved.

Pidilite Industries: N.K. Parekh has resigned as non-executive vice chairman of the company. However, the company said in a filing that he will remain on the board as a non-executive member. It said executive director Apurva N Parekh would be designated executive vice-chairman.

Easy Trip Planners: The company’s board of directors has approved, in principle, the operation of various general insurance businesses by the company’s unestablished wholly-owned subsidiaries.

Trident: The board of directors will meet on May 18 to consider and approve the company’s standalone and consolidated audited financial results for the quarter and fiscal year ending March 31, 2023. In addition, the board will consider and approve raising capital through non-convertible debt instruments.

Canara Bank: Canara Bank’s net profit for the quarter ended March 2023 (Q4FY23) rose 90.6% YoY to Rs 3,175 crore on the back of healthy growth in net interest income (NII).

Kansai Nerolac: The paint company on Monday reported a rise of more than 400% in its consolidated net profit to Rs 96.24 crore in Q4FY23. Its operating income surged 12.81% to Rs 1,733.59 crore in the quarter. For the full FY23, its net profit jumped 36.52% to Rs 468.47 crore.

Mahanagar Gas: Mahanagar Gas on Monday posted a net profit of Rs 268.8 crore in the third quarter of FY23, more than double the Rs 131.8 crore recorded in the same period last year. The board has declared a final dividend of Rs 16 per share for FY23, in addition to an interim dividend of Rs 10 per equity share paid earlier.

Kalpataru Power: Kalpataru Power Transmission on Monday posted a nearly 22% rise in consolidated net profit to Rs 140 crore for the March 2023 quarter, mainly due to higher revenue. Total revenue rose to Rs 4,896 crore in the quarter from Rs 4,169 crore a year ago.

VIP Industries: The company posted a surprise net loss of Rs 4.26 crore in Q4FY23 against PAT’s forecast of around Rs 54 crore. The company incurred an unusual loss of Rs 47.21 crore related to property, plant and equipment due to a fire at a factory of the company’s subsidiary in Bangladesh on January 31, 2023.’

Aarti Industries: The company reported total revenue of Rs 1,656 crore for the year ended March 31, 2023, up 15% from Rs 1,437 crore last year. The company’s net profit rose 2% year-on-year to Rs 149 crore, compared to Rs 146 crore last year.

Carborundum Universal: Murugappa group company Carborundum Universal (Cumi) has posted a 140% rise in consolidated net profit to Rs 137 crore for the Q4FY22-23 financial year, compared to Rs 57 crore in the corresponding period of the previous financial year.

Exide Industries: Battery maker Exide Industries on Monday reported a weaker-than-expected consolidated net profit of Rs 180.12 crore in Q4FY23, hit by higher raw material costs. Operating income for Q4FY23 was Rs 3,676.76 crore, up 4.4% from the same period last year.