Weaker global signals, coupled with weekly F&O dues, are likely to dampen sentiment on Dalal Street on Thursday. At 7:40 am, the SGX Nifty was down 10 points at 17,870.

Globally, Asia-Pacific markets fell on Thursday after the March Federal Open Market Committee meeting minutes showed that Fed officials believed the US economy had entered a recession following the banking crisis.

Overnight, the Dow Jones Industrial Average snapped a four-day winning streak, erasing earlier gains following the release of the US inflation report, down 0.11%. The S&P 500 lost 0.41%, and the Nasdaq Composite lost 0.85%.

Earnings today: Amalgamated Electricity, Avantel, Infosys, Roselabs Finance and Thirdwave Financial Intermediaries are scheduled to report their March quarter results on Thursday.

Analysts expect Infosys to report modest quarter-over-quarter (QoQ) revenue growth from 0.1% to 0.7% in constant currency (cc) in a traditionally weak quarter.

Tata Consultancy Services (TCS): A slowdown in the recovery in Tata Consultancy Services (TCS) largest North American business region, dragged down the fourth quarter (Q4) 2022-23 (FY23) performance of India’s largest information technology (IT) services company. TCS posted a net profit of Rs 11,392 crore in the fourth quarter, up 14.8% year-on-year. Subsequently, the company’s profits rose by 5%. Revenue in Q4FY23 rose 16.9% YoY to Rs 59,162 crore. On a constant currency basis, revenue grew just 0.6% sequentially.

Anand Rathi Wealth: Anand Rathi Group Company on Wednesday reported a 23% rise in its after-tax profit to Rs 42.7 crore in the three months to March 2023. Total revenue rose 28% to Rs 146.8 crore during the period. The board of directors has declared a final dividend of Rs 7 per share, which is Rs 12 per share for FY23.

HDFC Bank: HDFC Bank has signed a master interbank credit agreement with the Export-Import (Exim) Bank of Korea for a $300 million line of credit. The agreement, signed in GIFT City in Gujarat, will help the bank raise foreign currency funding to expand into South Korea-related operations.

Future Retail: The company’s Resolution Professional has applied with the National Companies Law Tribunal, Mumbai, to have the 90-day period excluded from FRL’s Corporate Insolvency Resolution Procedure (CIRP), which has subsequently been extended from April 16, 2023, to July 15, 2023, CIRP for ending FRL.

Bajaj Finance: Bajaj Finance has raised Rs 1,955 crore with an indicative amount of up to Rs 8,700 crore through two bonds.

Karnataka Bank: The Reserve Bank of India (RBI) has approved the appointment of the bank’s executive director, Sekhar Rao, as interim MD and CEO for a three-month term effective April 15, 2023, or until the appointment of the regular MD and CEO, whichever is earlier.

Maruti Suzuki India, IDFC First Bank: Maruti Suzuki India has signed a Memorandum of Understanding (MoU) with IDFC First Bank whereby the bank will offer personalised financing options for new car loans, used car loans and commercial vehicle loans when purchasing a Maruti Suzuki vehicle.

Jindal Stainless: A meeting of the company’s board of directors is scheduled for April 18, 2023, to consider and approve the declaration of a special interim dividend for the financial year 2022-23.

Indian Oil, airline stocks: Indian Oil Corporation (IOC) may offer domestic airlines a minority stake in its proposed Sustainable Aviation Fuel (SAF) production plant in Panipat, Haryana, according to a Business Standard report. The proposal was made on Monday at a meeting chaired by Secretary of the Ministry of Civil Aviation Rajiv Bansal and attended by representatives of airlines, oil marketing companies and government officials.

HDFC: The mortgage lender has notified market regulator Sebi through a bourse filing that it has approved a proposed change of control of HDFC Capital Advisors Ltd (HACL).

Torrent Power: The company confirmed its participation in the government’s electronic tender to procure up to 4,000 megawatts of electricity from natural gas-fired power plants during the identified critical period (April 10, 2023, to May 16, 2023). In this regard, it has secured 920 MW of electricity supply contracts (770 MW from the DGEN plant and 150 MW from the SUGEN plant).

Mukand: The Competition Commission of India (CCI) has given the green light to Jamnalal Sons Private Limited (JSPL) to acquire a stake in Mukand Sumi Special Steel Limited (MSSSL) from Mukand Limited (Mukand), according to media reports. The proposed merger envisions JSPL acquiring 5.51% of the equity capital of MSSSL from Mukand.

K&R Rail Engineering: The company’s board of directors is scheduled to hold a meeting on April 20, 2023, to review and approve the bonus shares issued this time.

Rail Vikas Nigam Ltd (RVNL): RVNL has received the Letter of Acceptance (LoA) from North West Railways for the provision of automatic block signalling on the Madar-Sakhun section (51.13 km) of the Jaipur Division in the North West Territory. The cost of the project is Rs 63.8 crore.

AU Small Finance Bank: The Reserve Bank of India has approved the reappointment of Sanjay Agarwal as MD and CEO for a three-year term from April 19, 2023, to April 18, 2026.

Campus Activewear: The company acquired land and buildings from Ponta Sahib-based Marico Industries Limited to expand its semi-finished (sole and/or upper) manufacturing and footwear assembly capabilities.

Vardhman Special Steels: The board of directors meeting on April 12 approved the distribution of bonus shares at a ratio of 1:1, that is, 1 additional share for every 1 share of the company already held.

Vikas Lifecare: The company’s subsidiary, Genesis Gas Solutions, has received its first-ever order for ultrasonic gas meters worth Rs 3 crore.