Major benchmarks are likely to start the day flat amid a lack of progress in US debt-ceiling talks and weakness in overseas markets.

At 7:30 am, SGX Nifty June futures were quoted at 18,373, suggesting the Nifty 50 opened more than 30 points lower.

Vedant Fashions, Max Healthcare: Global index provider FTSE has increased the weight of Vedant Fashions (Manyavar) in four of its indices. Earlier this month, Manyavar’s promoters sold a 9.88% stake in the company to comply with the 25% minimum public shareholding norms. Likewise, the Max Healthcare Institute is expected to join the MSCI Standard Index by the end of this month. The move comes after GQG Partners Emerging Markets acquired 7.55 million shares in the company.

Adani Group: Shares of the Gautam Adani promoter may remain in focus following reports that US-based GQG Partners has increased its exposure and is willing to back any “new offerings” from the Adani group. “Within five years, we want to be one of the largest investors in Adani Group, and we certainly want to be a partner of Adani Group for any new offerings,” GQG chief investment officer Rajiv Jain said in an interview with Bloomberg.

Ashok Leyland: The company posted a four-fold increase in net profit to Rs 803 crore in Q4FY23 from Rs 158 crore in the January-March quarter of FY22. Operating income rose 33% to Rs 13,203 crore from Rs 9,927 crore.

Biocon: The company posted a 31% rise in net profit to Rs 313 crore in Q4FY22-23, compared to Rs 239 crore in the same period in 2021-22. Operating income rose 57% to Rs 3,774 crore from Rs 2,409 crore.

Amara Raja Batteries: The company posted a 41% rise in net profit to Rs 139 crore for the January-March quarter of FY22-23, compared to Rs 99 crore in the same period of the previous financial year. Operating income rose 11% to Rs 2,429 crore from Rs 2,181 crore.

Glenmark Life Sciences: Ahmedabad-based Nirma Group and leading private equity firms have joined the bid for the drugmaker. Glenmark owns 82.8% of Glenmark Life, which had a market valuation of Rs 6,361 crore as of Tuesday. In addition to Nirma, US private equity giants KKR, Blackstone and BPEA -EQT are also interested in buying a stake in the company, according to sources.

NMDC: The company posted a 22.3% rise in net profit to Rs 2,277 crore for the quarter ended March 2023, compared to Rs 1,862 crore a year earlier. Operating income, however, fell 13.8% year-on-year to Rs 5,851 crore from Rs 6,785 crore.

JSW Energy: The company’s net profit fell 16.1% to Rs 131.62 crore in Q4FY23 from Rs 156.85 crore in the same period last year. However, total revenue increased by 52.5% from Rs 1,112.22 crore to Rs 1,697.2 crore.

Fortis Healthcare: The company reported a turnaround in Q4FY23 with a net profit of Rs 2.07 crore, compared to a net loss of Rs 24.24 crore in Q4FY22. Total revenue rose 26.9% year-on-year to Rs 307.59 crore.

Metro Brands: The company’s net profit jumped 20.8% to Rs 81.61 crore in Q4FY23 from Rs 67.54 crore in Q4FY22. Total revenue rose 30.3% YoY to Rs 533.10 crore.

Bikaji Foods: The company’s Q4FY23 net profit rose 39.3% to Rs 36.73 crore, compared to Rs 26.36 crore in Q4FY22. Operating income rose 15.3% year-on-year to Rs 458.23 crore.

National Peroxide: The company posted a net profit of Rs 10.6 crore in Q4FY23. During the same period in the previous fiscal, the company recorded a net loss of Rs 0.01 crore. Total revenue soared 73.8% to Rs 89.71 crore from Rs 51.62 crore.

MSTC: The company’s Q4FY23 net profit fell 31.7% to Rs 76.06 crore compared to Rs 111.30 crore in Q4FY22. Total revenue also fell 61.6% to Rs 130.52 crore from Rs 340.33 crore.