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The other important results will be Ujjivan Small Finance Bank, Tech Mahindra, UCO Bank, TVS Motor Company, Tata Steel, Railtel, PNB Housing, Laurus Labs, Indian Overseas Bank, Indian Oil Corporation, DLF, DCB Bank, CONCOR, Ceat, Canara Bank, Bluedart, Bajaj Auto and Aarti Drugs.

Asian shares rose on Wednesday on optimism that Chinese authorities will offer support for its stock markets, which have plummeted to multi-year lows, while a hawkish tilt from the Bank of Japan lifted the yen.

Tech Mahindra may report sequential decline in overall revenue and constant currency revenues, dragged down by the communication and enterprise verticals.

Sahil Kapoor believes that the upcoming Interim Budget 2024 or Vote on Account is unlikely to make major announcements and will focus on continuity in tax regime and economic visibility. He warns that the current bull rally on the stock market may be derailed by factors such as fiscal deficit and profit booking. Kapoor advises investors to lower their return expectations and focus on the quality of businesses and their valuations.

The company’s quarterly revenue from operations was up almost 4% on-year to Rs 1024.3 crore. Meanwhile, its earnings before interest and taxes (EBITDA) declined by 2.2% on-quarter basis.

The Nifty Pharma index closed 1.66 per cent up at 17520.3.

Indus has flagged continued recovery challenges from another key customer (read: Vodafone Idea), saying the latter’s funding plan had still not materialised and it had not made the committed payments pertaining to the outstanding amount due as at December 31, 2022. The telecom tower company’s net profit grew 19% sequentially, from Rs 1,295 crore in the fiscal second quarter to September 2023.

Aster DM Healthcare last week said its board is considering plans to distribute to shareholders about 70-80% of the $903 million it will get by selling its Gulf business, translating into a dividend to its shareholders in the range of Rs 110/- to Rs 120/- per share, days after a proxy advisory firm Institutional Investor Advisory Services India (IiAS) has asked investors to veto the deal.

General Electric Co on Tuesday reported a higher fourth-quarter profit as its business that makes aircraft engines benefited from strong demand for spare parts and services, while cost cuts helped narrow losses in its renewable energy unit.