In the early opening hours on Wednesday, the GIFT Nifty futures were trading on a flat-to-positive note, indicating an opening in the green for domestic indices. 

The benchmark equity indices, NSE Nifty 50 and S&P BSE Sensex, ended almost flat after a highly volatile session on Tuesday as investors awaited the US Federal Reserve’s policy meeting traded cautiously. Nifty 50 settled 0.04% or 8.25 points higher at 19,680.60, while the Sensex dipped 0.04% or nearly 30 points to 66,355.71. 

Companies Announcing Quarterly Results Today: Aditya Birla Sun Life AMC, Axis Bank, Bajaj Finance, Bharat Petroleum Corporation, Cipla, Colgate-Palmolive (India), Deepak Fertilisers & Petrochemicals Corporation, Dr Reddy’s Laboratories, Oracle Financial Services Software, Punjab National Bank, REC, Shree Cement, Syngene International, Tata Consumer Products, TCPL, Tech Mahindra, and others.

Tata Motors: Tata Motors posted a better-than-expected consolidated net profit of Rs 3,202 crore and a 42% year-on-year (YoY) revenue growth to Rs 1,01,529 crore in the April-June quarter of fiscal year 2023-24, driven by sharp improvement in Jaguar and Land Rover (JLR) and commercial vehicles business. The Tata Group company has also appointed Rajesh Kannan as President and CDIO. 

Tata Motors DVR: The automaker on Tuesday announced the termination of its differential voting rights (DVR), or A-share programme, and all its outstanding A-shares will stand cancelled. According to the latest share prices and swap ratio, the DVR is available at a 20% discount on ordinary shares. 

Larsen & Toubro (L&T): L&T announced that it would buy back 3.33 crore equity shares, representing 2.4% of its paid-up capital, at a maximum price of Rs 3,000 apiece in its first-ever buyback. It also declared a special dividend of Rs 6 per share. In its Q1FY24 earnings report, the company posted a 46.5% YoY rise in net profit to Rs 2,493 crore. 

CEAT: The tyre manufacturer reported a 16-fold YoY increase in consolidated profit after tax during Q1FY24 to Rs 144 crore. The revenue was up 4.2% at Rs 2,935 crore in FY23 compared to Rs 2,818 crore in FY22. 

UTI Asset Management Company: UTI AMC reported a 156.2% jump in Q1 net profit to Rs 234 crore and a 59.6% growth in revenue from operations to Rs 468 crore in the same period.

Jubilant Foodworks: The Indian Domino’s pizza franchise owner and operator posted a net profit of Rs 28.82 crore for the first quarter of the current financial year, down 74% compared to Rs 112.7 crore from the same quarter in FY23.

SBI Life Insurance: The life insurer reported a 45% rise in net profit for the June quarter to Rs 381 crore, from Rs 263 crore during the corresponding quarter last year. The growth was driven by a 28% surge in renewal premiums to Rs 7,350 crore. 
Can Fin Homes: The Indian Housing Finance company said that employees at one of its branches committed a fraud of nearly Rs 38.53 crore or $4.7 million by transferring funds to different personal bank accounts.