Dalal Street is bracing for a flat to a higher start on Wednesday as investors await consumer price index (CPI)-based inflation data due later in the day. Additionally, specific stock moves amid fourth-quarter earnings action could spur trading.

At 7:40 am, the SGX Nifty was at 17,793, up six points.

Earnings on Wednesday, April 12: Anand Rathi Wealth, Dharani Sugars and Chemicals, National Standard (India), Sanathnagar Enterprises and Tata Consultancy Services will report their results January-March quarter (Q4) today.

IT giant TCS is expected to report weaker revenue growth (in constant currency/cc) in the last quarter due to weak seasonality and delays in decision-making by US and European clients amid a pessimistic macro environment. According to the average estimate of six brokerage houses, the company’s revenue may reach Rs 59,506 crore, up 17-18% from a year earlier, while its profit may also rise by 18% to an average of Rs 11,554 crore.

HDFC Bank: The country’s largest private sector lender plans to raise up to Rs 50,000 crore (about $6 billion) in the next 12 months through the issuance of additional tier 1 (AT), tier 2 (AT) and infrastructure bonds, among other bonds.

Adani Enterprises: Adani Group’s flagship company has established a wholly-owned subsidiary, Pelma Collieries, to carry out coal-washing-related businesses.

Delhivery: Tiger Global Management on Tuesday sold an additional 1.18 crore Delhivery shares for Rs 388 crore in a block trade on the BSE. It sold a 1.7% stake in February and another 0.75% in March.

Delta Corp: The company posted a consolidated net profit of Rs 51 crore for the quarter that ended March 2023 (Q4FY23), up 6% from the Rs 48 crore reported last year. As a result, net profit fell by 40%. Meanwhile, operating income for the quarter was up 4% YoY/down 17% QoQ to Rs 227 crore.

Reliance Capital: Lenders to heavily indebted Reliance Capital (RCap) have set April 26 as a new date for the second auction. Per the earlier schedule, it was supposed to take place on April 11.

Balrampur Chini Mills, Dhampur Sugar Mills: Sugar stocks will be in focus on Wednesday as commodity prices soar in global markets. Bloomberg reported that white sugar futures in London surged 2.7% to their highest level since November 2011. As a result, the white sugar premium, which represents the difference between refined and raw sugar, also hit a record high during Tuesday’s trading session. Meanwhile, New York’s raw sugar settled at 2.6% higher, its highest level since October 2016.

Sanofi India: Pharmaceutical company Sanofi India said it would cut the price of its insulin glargine brand Lantus by about 21%.

Titagarh Wagon, BHEL: A consortium of these companies has secured an order from Indian Railways to supply 80 Vande Bharat trains.

Sula Vineyard: In its quarterly business update, India’s largest wine producer said sales of its own brand surpassed 1 million cases, with Elite & Premium wines crossing the 500,000 case mark for the first time. The company’s own-label and wine tourism businesses posted their highest-ever annual revenues.

Additionally, the company’s private labels posted strong year-over-year growth of 15% in the fourth quarter of fiscal 2023. Wine tourism grew about 18% year-on-year in the quarter and 30% in FY23 compared to FY22.

Marathon NextGen Realty: The company’s sales (in value terms) fell 20% year-on-year to Rs 226.4 crore from Rs 284.6 crore last year. Meanwhile, collections fell 8% to Rs 202 crore. However, for the total FY23, sales rose 12% YoY to Rs 753 crore.

Time Technoplast: Time Technoplast has received an order from Indraprastha Gas Ltd (IGL) to supply CNG cascades (TYPE-IV composite cylinders) worth Rs 54 crore.

Lumax Industries: The Board of Directors has approved the resignation of Vineet Sahni as Senior Executive Director, full-time Director and Chief Executive Officer of the Company, effective after the close of business on April 14, 2023.

Paras Defence and Space Technologies: Paras Anti-Drone Technologies Pvt Ltd (a subsidiary of Paras Defense & Space Technologies Ltd) entered into an MoU with SpaceKava Exploration Pvt Ltd (Kava Space) for indigenous development and deployment of Space Intelligence, Surveillance and Reconnaissance (ISR) payloads have entered.

KP Energy: The company has commissioned a 52.5 MW (phase 1) ISTS-connected wind power project at the Sidhpur site in Dwarka.

Canara Bank: The state-owned lender has hiked the marginal cost of funds-based lending rate (MCLR) since April 12. According to exchange filings, the six-month MCLR has increased from 8.40% to 8.45%, while the one-month MCLR has increased from 8.60% to 8.65% annually. Overnight, one-month, and three-month MCLRs were unchanged.