Bajaj Auto said it will continue to pay salary for two years to the family of the employee who dies due Covid-19 as well as fund the education of the children of the deceased.
Industry > Industry monitor > Glass
Borosil posts Rs66.87 cr Q4 net profit; revenue shoots up to Rs196.90 cr
12 May 2021
Borosil Renewables has posted a net profit of Rs66.87 crore for fiscal fourth quarter ended 31 March 2021 against a net profit of Rs4.05 crore for the corresponding period ended 31 March 2020, a 1,551.11 per cent increase year-on-year.
The company had reported a net profit of Rs10.57 crore for the previous quarter ended 31 December 2020.
Total income of the company for the January-March 2021 quarter stood at Rs196.90 crore compared to Rs95.29 crore for the previous year quarter ended 31 March 2020, an increase of 106.63 per cent year-on-year. Total income for the quarter ended 31 December 2020 stood at Rs141.32 crore.
Weak Asian markets, which are at one-month lows, and a second day s fall in US stocks overnight may hit domestic market sentiment on Wednesday. There are concerns globally that rising inflation in the US will trigger a Fed rate hike soon. Back home, Covid cases in India fell for the third day, raising hopes that the country may soon see a peak in daily cases.
Here s breaking down the pre-market actions:
STATE OF THE MARKETS
Nifty futures on the Singapore Exchange traded 21.50 points, or 0.14 per cent, lower at 14,828.50, signalling that Dalal Street was headed for a negative start on Wednesday.
Voltas, Vaibhav Global, Happiest Minds, Apollo Tyres, Birla Corp, Prince Pipes and Fittings, Sonata Softwares, Orient Electric, Borosil Renewables and Saregama India are among companies that will announce their March quarter results today.
Reliance Industries: India s largest telecom operator Jio widened its mobile subscriber base to 414.9 million in February, with healthy addition of 4.2 million users, as it managed a comfortable lead in the market, according to TRAI data.
Dr Reddy s Laboratories: The pharma major said it has inked a licensing pact with Eli Lilly and Company to produce Baricitinib in the country for treatment of COVID-19. The Hyderabad-based firm said it has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company for the manufacture and commercialisation of the drug in India.
Equity indices hit fresh intraday low as selling pressure intensified in morning trade. The Nifty slipped towards 14,700 mark. PSU banks and pharma stocks were in demand while IT, metal and auto stocks corrected.
At 10:31 IST, the barometer index, the S&P BSE Sensex, was down 441.89 points or 0.9% at 48,719.68. The Nifty 50 index was down 131.40 points or 0.88% at 14,719.35.
In the broader market, the S&P BSE Mid-Cap index was down 0.49% while the S&P BSE Small-Cap index fell 0.22%.
The market breadth was positive. On the BSE, 1431 shares rose and 1185 shares fell. A total of 147 shares were unchanged.
Indian stock markets will remain shut tomorrow, 13 May 2021, on account of Id-Ul-Fitr (Ramzan Id).