In the early opening hours on Wednesday, the GIFT Nifty futures were trading negatively, indicating an opening in the red for domestic indices. 

The benchmark equity indices, NSE Nifty 50 and S&P BSE Sensex, ended Tuesday’s volatile trading session in the red, falling 0.1% each. Nifty 50 slipped 20.3 points to settle at 19,733.55, while the Sensex closed 68.4 points lower to 66,459.31.

Companies Announcing Quarterly Results Today: 

Aditya Birla Capital, Ambuja Cements, Adani Wilmar, Godrej Properties, Gujarat Gas, HPCL, InterGlobe Aviation, Indian Overseas Bank, Kirloskar Ferrous Industries, Mankind Pharma, Metropolis Healthcare, Orient Electric, Sapphire Foods India, Sheela Foam, Titan Company, and VIP Industries among others. 

Metro Brands: The footwear retailer reported a 11.6% YoY fall rise in its consolidated net profit to Rs 93.5 crore in Q1FY24, with the highest-ever quarterly e-commerce sales of Rs 61 crore. Total revenue in the quarter stood at Rs 582.5 crore, up 14.7 per cent YoY. 

Hero MotoCorp: The company reported a 12% fall in total sales for July to 3,91,310 units from  4,45,580 units in the year-ago period. Hero Motocorp also clarified in an exchange filing that the Enforcement Directorate (ED) conducted raids at the Delhi and Gurgaon offices and residences of executives Chairman Pawan Munjal as part of a money laundering case against Executive Chairman Pawan Munjal and some others.

Adani Total Gas: The joint venture (JV) between Adani Group and TotalEnergies, Adani Total Gas, posted a 7% rise in the net profit for the June quarter of the current fiscal at Rs 148 crore compared with Rs 138 crore in the year-ago period. The gas distributor’s revenue from operations stood at Rs 1,056.1 crore, up 1.3% year-on-year (YoY). 

Power Grid Corporation of India: The board of Power Grid has approved an investment proposal for an 85 MW Solar PV power project at Nagda, MP, for an estimated cost of Rs 554.91 crore.

Bharti Airtel: The board has set August 11 as the record date for the final dividend payment of Rs 4 per fully paid-up equity share and Re 1 for a partly paid-up equity share. The dividend is subject to shareholder approval.