The SGX Nifty Index opened flat on Wednesday, trading around 18,687 points, down more than 42 points, amid mixed global trends.

Globally, US markets ended mixed overnight as traders awaited legislative approval for a debt ceiling deal. The Dow Jones fell 0.1%, the Nasdaq Composite rose 0.3%, while the S&P 500 was unchanged.

In Asia Pacific, a similar move was seen this morning, with the Nikkei 225, S&P 200 and Topix slipping to 1%, while the Kospi bucked the trend, gaining 0.1%.

Adani Ports & SEZ: The company’s consolidated net profit for the January-March quarter (Q4FY23) rose 5.1% year-on-year to Rs 1,158.9 crore. Operating income also rose to Rs 5,797 crore, up 40% year-on-year. The board has recommended a fully paid dividend of Rs 5 per share of Rs 2 for FY23.

HDFC Life: Abrdn, part of the HDFC Life promoter group, will sell its entire stake in the company on Wednesday as part of a blockbuster deal. Currently, ABRDN holds 35.7 million shares or 1.66% of the insurer. The shares will be sold at Rs 563.2 to Rs 585.15 each.

Sun Pharmaceutical: The pharmaceutical giant announced that the Chinese health authority approved its New Drug Application (NDA) for tildrakizumab injection to treat adults with moderate-to-severe plaque psoriasis.

NMDC: The state-owned company cut iron ore lump and concentrate rates by Rs 300 and Rs 450 per tonne, respectively. It fixed the price of lump ore at Rs 3,900 per tonne and that of mineral fines at Rs 3,560 per tonne.

Mahindra & Mahindra: The company announces that Icarus Hybren has been registered as a wholly-owned subsidiary of Mahindra Susten, which is a subsidiary of Mahindra Holdings Limited, which in turn is a wholly-owned subsidiary of the company.

Apollo Hospitals: The company posted a consolidated net profit of Rs 145 crore for the March quarter. Also, consolidated operating income rose 21.3% to Rs 4,302 crore in Q4FY23.

Inox Wind: The company has secured a 150-megawatt (MW) wind energy project from Gujarat-based NTPC Renewable Energy Limited (NTPCREL). Thus, the total order volume awarded to Inox Wind by NTPC is 550 MW.

Patanjali Foods: The company registered a profit after tax of Rs 264 crore, up 12.8% from Rs 234 crore a year ago. On the other hand, operating income rose by 18.14% to Rs 7,873 crore in the third quarter.

Rajesh Exports: The company has appointed Suresh Kumar Sarojamma Linge Gowda as managing director for a five-year term effective June 1, 2023, subject to shareholder approval at a subsequent general meeting.

Torrent Pharma: The company posted a consolidated net profit of Rs 287 crore in the March quarter, compared with a loss of Rs 118 crore a year earlier. The board has recommended a final dividend of Rs 5-8 per share to members.

V-Guard Industries: The electronics maker reported a 41.14% year-on-year fall in consolidated net profit to Rs 52.72 crore in Q4FY23. Meanwhile, operating income rose by 7.64% to Rs 1,140.14 crore during the period under review.

PTC Industries: The company reported a 19% year-on-year increase in total revenue to Rs 62.6 crore in Q4FY23, compared to Rs 52.6 crore in the same period last year. On the other hand, profit after tax surged 99.1% year-on-year to Rs 9.2 crore in the March quarter.