India’s main benchmark index continued to be boosted by strong corporate earnings over the past few sessions, with renewed buying by FIIs now further increasing sentiment. SGX Nifty May futures were quoted at 18,252 at 7:30 am, pointing to a subdued start on Friday.

SpiceJet: Aircastle, one of the low-cost airline’s lessors, has filed suit with the National Company Law Tribunal (NCLT), seeking bankruptcy proceedings against the airline for non-payment of dues. A hearing is scheduled for Monday.

Blue Star: The company posted a three-fold increase in net profit at Rs 225.29 crore for the quarter ended March 2023, compared to Rs 76.27 crore for the quarter ended March 2022. Total revenue rose 16.3% YoY to Rs 2,630.48 crore. In addition, the company’s board of directors also approved the distribution of bonus shares at a ratio of 1:1, that is, one free share for each share.

Adani Enterprises (AEL): The company reported earnings late Thursday. Profit after tax rose 137% year-on-year to Rs 722 crore in the fourth quarter, with total revenue up 26% to Rs 31,716 crore.

Hero MotoCorp: The two-wheeler specialist’s consolidated net profit rose 30.6% YoY to Rs 810.6 crore in Q4FY23, backed by a 13.7% rise in total revenue to Rs 8,671.82 crore.

TVS Motor: The company reported a 22% rise in net profit at Rs 336 crore in Q4FY23, compared to Rs 275 crore in Q4FY22. Total revenue also rose 22% year-on-year to Rs 8,031 crore.

Sundram Fasteners: The company posted a 19% year-on-year rise in consolidated net profit to Rs 127.47 crore in Q4FY23. Operating income rose 8.1% to Rs 1,447.95 crore.

Adani Ports: On Thursday, Adani Ports and Special Economic Zone (APSEZ) announced the sale of the disputed Myanmar port for a total consideration of $30 million, $120 million less than the last known value of its investment in the port.

Raymond: The company’s board of directors is scheduled to meet on May 6 to consider a proposal to raise up to Rs 2,200 crore through non-convertible debentures to cover the external debt.

Ceat: The tyre maker’s net profit soared nearly 10-fold to Rs 132 crore in Q4FY23 from Rs 13.29 crore in Q4FY22. Total revenue rose 11% to Rs 2,864.97 crore.

Coal India (CIL): P M Prasad, chairman and managing director of CIL-arm Central Coalfields, said Rs 91,000 crore will be invested in various projects, including diversification and mine development, by 2025-26.

J&K Bank: Net profit more than quadrupled to Rs 476.33 crore in the quarter ended March 2023, compared to Rs 112.20 crore a year earlier. Total revenue rose 21.2% year-on-year to Rs 2,678.48 crore.

United Breweries: The company reported a sharp 94% year-on-year drop in net profit to Rs 9.73 crore in Q4FY23 compared to Rs 162.96 crore in Q4FY22. However, total revenue rose by 11.3% to Rs 4,091.23 crore.