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The board has recommended a final dividend payout of Rs 1.50 per share. In FY23, Biocon’s revenue grew almost 37% to Rs 11,174 crore, while its net profit fell nearly 29% to Rs 463 crore. The biosimilars business segment more than doubled its year-on-year revenue to INR2,102 crore in Q4 2022.

Bharat Petroleum Corporation, incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 79850.19 Crore) operating in Gas & Petroleum sector.

JSW Energy has announced a 68% drop in its net profit for Q4 2023. The decline has been attributed to lower margins and increased operational expenses. The firm’s net profit for the quarter ended March 2023 was INR 282.03 crore (~$37.2m), compared to INR 877 crore (~$115.5m) during the same period last year. Despite this, revenue from operations rose by 9% to INR 2,669.9 crore (~$351.2m) due to higher sales. The company has also signed a PPA with the Solar Energy Corporation of India for wind projects totalling 300 MW.

Dalal Street was looking forward to it after two of the group companies - Adani Enterprises and Adani Transmission - announced raising Rs 12,000 crore through qualified institutional placement issue.

The Dow Jones Industrial Average fell 95.98 points, or 0.29%, at the open to 33,190.60.

The stock quoted a 52-week high of Rs 230.75 and a 52-week low of Rs 135.2.

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.

Oil prices are likely to remain volatile until the US debt ceiling crisis is resolved on June 1, according to Prathamesh Mallya of Angel One. As the US government has always approved the debt ceiling in the past, it is likely to be a last-minute approval on this occasion as well. Regardless of the outcome, the consumption of oil will continue, with factors such as a slowdown in China and a stronger dollar creating impact on the prices of oil and resulting in high volatility in the market.

Indian equity index Nifty was in a narrow range of 30-40 points, forming a small-bodied candle on the daily charts. The Nifty is making higher highs and higher lows from the past two sessions. Support zones for an up move are at 18,333, 18,442 and 18,550, whereas the downside supports exist at 18,281 and 18,181. Volatility was slightly up during the day but lower levels continued comforting bulls at support zones. Analysts suggest traders buy on dips and focus on midcap stocks that exhibit impressive movements for the future.

Nifty ended at 18,348, gaining around 0.2%. Meanwhile, broader markets outperformed the headline indices with Nifty Midcap 100 gaining 0.6%.