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<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged up in morning trade on Monday despite mixed cues in global markets. </li><li>The gains were led by banking and realty stocks, while pharma, IT and media stocks declined. </li><li><keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword>, <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>, <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> and <keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword> are amongst stocks in news today. </li></ul>India’s benchmark indices Sensex and Nifty50 edged up in morning trade on Monday despite mixed cues in global markets. The gains were led by banking and realty stocks, while pharma, IT and media stocks declined. SGX <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>, an early indicator of how the markets may perform, was up 0.35% or 62 points early in the morning today. Both the benchmark indices were up 0.04% in morning trade, with Sensex at 59,656 points and Nifty50 at 17,626 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.88% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.77% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.77% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.38% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.03% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.59% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.94% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.25% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.92% </td></tr></tbody></table> Source: NSE, as on April 24, 2023 Earlier last week, Sensex and Nifty50 closed on a mixed note – while Sensex gained 0.3% last week, NIfty50 closed on a flat note. Gold and crude oil prices continued to cool down. While gold fell below the INR 60,000 per 10 gram level after the Akshay Tritiya buying was over, Brent crude oil fell to $81 per barrel on Monday morning. <cmsannotation type="cmsannotation" annotationid="Global markets mixed" comment="subhead" text="Global markets mixed">Global markets mixed</cmsannotation> Markets globally were mixed on Monday morning. Markets in the US closed in the green on Friday, with Dow Jones gaining 0.07% and the S&amp;P 500 gaining 0.09%. The tech-heavy Nasdaq closed 0.11% higher. On the other hand, markets in Asia opened largely in the red on Monday morning, with Hang Seng declining 0.8%, followed by KOSPI which declined 0.75%. Shanghai Composite was down 0.5%, while Taiwan Weighted was flat. The Nikkei 225 index, on the other hand, gained 0.29%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Reliance Industries: The Mukesh Ambani led company’s net profit increased 9.9% on year to ₹66,702 crore for FY23 while its revenue stood at ₹8.93 lakh crore, which grew 23.7% on year. Its Q4 net profit was highest ever at 19,299 crore beating analysts expectations. <keyword id="42456" type="General" weightage="20" keywordseo="icici" source="Orion">ICICI</keyword> Bank: The lender’s net profit for March quarter has jumped 30% on year to ₹9,121 crore beating analysts expectations. The bank’s net interest income surged 40.2% on year to ₹17,667 crore. Wipro: The company is considering a buyback of equity shares of the company this week. Maruti Suzuki: The automaker has recalled 7,213 units of its Baleno RS hatchback over a possible defect in the vacuum pump that assists its brake function. Hindustan Zinc: The company reported 11.78% fall in consolidated net profit at ₹2,583 crore for March quarter on higher expenses. Its expenses stood at ₹5,358 crore higher than ₹4,717 crore from a year ago Yes Bank: The lender has reported a huge 45% on year dip in its net profit at ₹202 crore in Q4 FY23. However, on a quarterly basis its profit rose 293% from ₹51 crore in the December quarter. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a> <a href="https://www.businessinsider.in/business/news/indias-it-sector-likely-to-face-macro-headwinds-until-end-2023-say-analysts/articleshow/99714439.cms">India’s IT sector likely to face macro headwinds until end 2023, say analysts</a>

Sensex, Nifty50 edge up in morning trade led by banking and realty stocks

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Friday amid negative cues in global markets. </li><li>Realty, metal and auto stocks declined while FMCG and media stocks edged up. </li><li>Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points.</li></ul>Indian benchmark indices Sensex and Nifty50 edged lower in morning trade on Friday amid negative cues in global markets. Realty, metal and auto stocks declined while FMCG and media stocks edged up. Both the benchmark indices were down 0.1%, with Sensex at 59,579 points and Nifty50 at 17,596 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.69% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.92% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.96% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.76% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.91% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.51% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.33% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.86% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.19% </td></tr></tbody></table> Source: NSE, as on April 21, 2023 Earlier on Thursday, markets snapped a three-day losing streak to close in the green, with Sensex gaining 0.11% and Nifty50 gaining 0.3%. <keyword id="141968" type="General" weightage="80" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword> delivered its Q4 results on Thursday, with results in line with analyst expectations. While its attrition cooled down in line with that of its peers TCS and Infosys, it also guided for 6-8% revenue growth, nearly half of its FY23 growth of 13.7%. <cmsannotation type="cmsannotation" annotationid="Global markets in the red" comment="subhead" text="Global markets in the red">Global markets in the red</cmsannotation> Markets in the US closed in the red on Thursday, with Dow Jones declining 0.33% while S&amp;P 500 fell 0.6%. The tech-heavy Nasdaq was down 0.8%. Asian markets were largely in the red, too, on Friday morning. KOSPI declined the most at 0.72%, while Hang Seng was a close second with a fall of 0.67%. Shanghai Composite was down 0.54%, while Taiwan Weighted was down 0.24%. Nikkei 225 was flat. Gold prices edged up a little to INR 60,508 per 10 grams ahead of the auspicious occasion of Akshay Tritiya which sees an increase in purchase of the yellow metal. Crude oil prices continued to cool down, with Brent crude now hovering around the $81 per barrel level. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> HCL Technologies: The IT company’s revenue grew 13.7% in FY23 in constant currency terms and also met its FY23 revenue forecasts as it had guided it to be anywhere between 13.5-14%. Its operating margin fell sharply in Q4 to 18.1% in Q4 from 19.6% in Q3. ICICI Life Insurance: The insurer has reported a 27% growth in net profit at ₹235 crore as compared to ₹185 crore in the previous year period aided by a strong growth in value of new business. <keyword id="28423" type="General" weightage="100" keywordseo="vedanta" source="Orion">Vedanta</keyword>: Billionaire Anil Agarwal owned company has pledged 2.44% stake in group company <keyword id="115997" type="General" weightage="80" keywordseo="hindustan-zinc" source="Orion">Hindustan Zinc</keyword> to raise ₹1,500 crore as it is struggling to meet its debt obligations. With this, Vedanta’s pledged shares in Hindustan Zinc rose to 91.35% or about 59.3% of the company’s overall shares. Rail Vikas Nigam: The consortium of the company and Siemens received two separate orders from Gujarat Metro Rail for phase 1 of Surat Metro and phase 2 of Ahmedabad metro. Earnings today: Reliance Industries, Hindustan Zinc, Aditya Birla Money, Tejas Networks, Bheema Cements, Metalyst Forgings among companies to report March quarter earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-projects-its-revenue-to-grow-between-6-8-in-fy24/articleshow/99644337.cms">HCL Tech projects its revenue to grow between 6-8% in FY24</a> <a href="https://www.businessinsider.in/finance/news/here-are-the-many-ways-you-can-invest-in-gold-this-akshaya-tritiya/articleshow/99635639.cms">Here are the many ways you can invest in gold this Akshaya Tritiya</a> <a href="https://www.businessinsider.in/business/corporates/news/sbi-icici-bank-ongc-tata-motors-bpcl-will-drive-niftys-earnings-in-q4-2022-23/slidelist/99632153.cms">5 companies that will drive Nifty’s earnings in Q4</a>

Sensex, Nifty50 edge lower amid negative global cues: Realty, metal and auto stocks decline

<ul><li>India’s largest telecom provider, <keyword id="6354504" type="General" weightage="80" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>, on Friday announced its March 2022 quarter results, in addition to the full FY 2021-22 results.</li><li>The past three months saw <keyword id="2003276" type="General" weightage="100" keywordseo="jio" source="Orion">Jio</keyword>’s average revenue per user surge 11% to ₹167.6, continuing the momentum the telco gained in the December quarter.</li><li>One of the contributors to Jio’s improved bottomline is the fact that it offloaded millions of dormant, low-quality subscribers, improving its per subscriber metrics drastically.</li></ul>Reliance Jio, India’s largest telecom company, announced its financial results for the January to March 2022 period, showing strong momentum in how much it makes on an average from each subscriber, also known as ARPU (average revenue per user). Reliance Jio posted 14% growth in its net profit between January and March 2022 – this is Jio’s strongest profit growth in five quarters, but it is still below <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-could-post-a-blockbuster-5000-crore-profit-in-the-march-quarter-say-analysts/articleshow/91316654.cms">analyst expectations of ₹5,000 crore quarterly profit</a>. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Jan-Mar 2022 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Growth (YoY) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Oct-Dec 2021 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Growth (QoQ) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹26,139 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹24,176 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹4,313 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">23% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3,795 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ARPU </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹167.6 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹151.6 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">11% </td></tr></tbody><tbody></tbody></table>Source: Company reports Reliance Jio also posted an increase of 11% in its ARPU – a critical metric for measuring a telecom company’s performance. There were multiple factors contributing to this – a <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambani-led-reliance-jio-hikes-prices-of-its-plans-by-21/articleshow/87965329.cms">21% tariff hike</a> and <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-five-times-more-subscribers-than-vodafone-idea-in-the-last-six-months/articleshow/90953214.cms">offloading millions of low-quality and dormant subscribers</a> which had been subduing the company’s ARPU numbers for several quarters now. After resisting <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-needs-tariff-hikes-to-sustain-earnings-growth-as-subscriber-additions-slow-down/articleshow/82289799.cms">analyst warnings</a> for several months, Jio finally raised tariffs after its rivals Airtel and Vodafone Idea announced hikes to the tune of 20-25%. Jio’s tariffs are still the cheapest amongst the three, and analysts at JP Morgan expect the benefits from this hike to flow only in the June 2022 quarter. <div type="image" title="Jio ARPU Q4 FY22." msid="91380791" hostid="261" caption="&amp;lt;p&amp;gt;Jio&amp;#39;s ARPU is at its highest level ever&amp;lt;/p&amp;gt;"></div> This is also the third consecutive quarter of subscriber loss for Reliance Jio – it has lost over 30 million subscribers over the last three quarters. Overall, for the financial year 2021-22, Jio’s subscriber numbers are down by 16 million. This is despite the launch of the affordable <a href="https://www.businessinsider.in/business/telecom/news/reliance-confirms-jiophone-next-will-be-launched-in-time-for-diwali/articleshow/87211099.cms">JioPhone Next</a>, which was a key weapon in <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s arsenal to reach the 500 million subscriber mark. <div type="Article" hostid="261" msid="90953214" title="Reliance Jio lost five times more subscribers than Vodafone Idea in the last six months" mstype="2" mssubtype="0"></div> Jio reported that its total customer base stood at 410 million subscribers, after falling below the 421 million figure in the <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q3-fy22-profit-revenue-subscriber-growth/articleshow/89034299.cms">previous quarter</a>. <div type="image" title="Jio subscribers + net addition Q4 FY22." msid="91380798" hostid="261" caption="&amp;lt;p&amp;gt;Jio has now lost subscribers for the third consecutive quarter&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Reliance Jio’s last quarter in numbers" comment="subhead" text="Reliance Jio’s last quarter in numbers">Reliance Jio’s last quarter in numbers</cmsannotation> Coming to the financials, Jio reported a healthy two-digit increase in net profit between January and March 2022, increasing to ₹4,313 crore from ₹3,795 crore in the previous quarter – this is an increase of 14%. On a year-on-year basis, its profit surged by 23%. Jio also witnessed a healthy surge of 8% in its revenue during the quarter, increasing to ₹26,139 crore as compared to ₹24,176 crore in the quarter before. On a year-on-year basis, this is an increase of nearly 21%. <div type="image" title="Jio Net Profit Q4 FY22." msid="91380807" hostid="261" caption="&amp;lt;p&amp;gt;Jio&amp;#39;s net profit over the past few quarters&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Both data and voice usage saw a substantial increase this quarter" comment="subhead" text="Both data and voice usage saw a substantial increase this quarter">Both data and voice usage saw a substantial increase this quarter</cmsannotation> Data traffic saw an increase of 7% compared to the previous quarter. The average data usage per user during the quarter stood at 19.7GB, as compared to 18.4GB in the previous quarter. Voice usage increased to 968 minutes from 901 minutes in the quarter before. <div type="image" title="Jio voice and data usage Q4 FY22." msid="91380815" hostid="261" caption="&amp;lt;p&amp;gt;Jio&amp;#39;s consumer engagement numbers over the past few quarters&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-over-9-million-subscribers-in-january-but-that-is-a-good-thing/articleshow/90557442.cms">Reliance Jio lost over 9 million subscribers in January, but that is a good thing – here’s why</a> <a href="https://www.businessinsider.in/business/telecom/news/jiofiber-plans-with-free-installation-free-set-top-box-and-free-router-announced-plan-details-prices-and-everything-else-you-need-to-know/articleshow/90939082.cms">JioFiber plans with free installation, free set top box and free router announced – plan details, prices and everything else you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/5g-spectrum-auctions-in-india-in-june-5g-service-rollout-by-august-2022/articleshow/91169096.cms">5G spectrum auctions inch closer to reality, service rollout by August-September likely</a>

Reliance Jio reports its strongest profit growth in five quarters as it offloads millions of low quality subscribers

<ul><li><keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword> is planning the establishment of a fully-integrated, automated, gigawatt-scale electrolyser manufacturing facility to facilitate extensive green hydrogen production. </li><li>The primary focus is directed towards establishing an all-encompassing solar PV manufacturing ecosystem which will effectively convert sand into solar PV modules. </li><li>The company is making substantial headway in the utilisation of its committed capital to establish a new energy manufacturing ecosystem. </li></ul>Reliance has been betting big on its new energy business. The company, a week back in its annual report, doubled its investment plan from ₹75,000 crore in 2020 to further scale up the manufacturing ecosystem. In the 46th AGM of <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited (RIL) on Monday, <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, chairman of RIL, reiterated that the conglomerate's energy business will be net carbon zero by 2035 and spelt out some key plans regarding solar and green hydrogen initiatives. In the last AGM, Ambani had said that the focus was on finalising two essential elements crucial to delivering competitively priced green hydrogen and its derivatives: the cost of generating renewable power, and the installed expenses of electrolysers for giga-scale deployment. “Our solar and wind energy storage integrated manufacturing ecosystem will deliver the most cost-efficient renewable power. I can also confidently say now that we have a roadmap towards achieving our targeted cost of electrolysers, and in turn, green hydrogen,” said Ambani. <cmsannotation type="cmsannotation" annotationid="Gigawatt scale electrolyser manufacturing facility to facilitate green hydrogen production" comment="subhead" text="Gigawatt scale electrolyser manufacturing facility to facilitate green hydrogen production">Gigawatt scale electrolyser manufacturing facility to facilitate green hydrogen production</cmsannotation> Ambani said that the company is planning the establishment of a fully-integrated, automated, gigawatt-scale electrolyzer manufacturing facility. This strategic move will facilitate extensive green hydrogen production at Jamnagar, allowing for a gradual shift in their captive needs. He also said that the company is making substantial headway in the utilisation of its committed capital to establish a new energy manufacturing ecosystem. This strategic move will facilitate the acceleration of large-scale production for continuous power supply and the substantial manufacturing of green hydrogen to support eco-friendly chemical production as well as environmentally conscious mobility solutions. <cmsannotation type="cmsannotation" annotationid="Setting up world’s largest and technologically advanced solar giga factory" comment="subhead" text="Setting up world’s largest and technologically advanced solar giga factory">Setting up world’s largest and technologically advanced solar giga factory</cmsannotation> Ambani further said that the company maintains its commitment to the rapid implementation of the Dhirubhai Ambani <keyword id="60895" type="General" weightage="20" keywordseo="green-energy" source="Orion">Green Energy</keyword> Giga Manufacturing Complex in Jamnagar. The primary focus is directed towards establishing an all-encompassing Solar PV manufacturing ecosystem as the foremost objective which will give rise to one of the world's largest, technologically advanced, versatile, and economically competitive solar giga factories, effectively converting sand into solar PV modules. The solar giga factory will encompass the manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass, all consolidated at a single Jamnagar location. The target is to progressively operationalise the factory in phases, with the final phase anticipated to conclude by the end of 2025. The incorporation of cutting-edge Heterojunction technology is slated for the manufacturing process, resulting in the creation of highly efficient solar PV cells and modules. Ambani further said that the vital integration of energy storage with both wind and solar power generation will play a crucial role in ensuring continuous, grid-connected electricity supply around the clock.

Reliance's energy business will be net carbon zero by 2035: Ambani

<ul><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has reported its “best quarter ever” with its gross revenue crossing ₹58,000 crore mark for the second time this year.</li><li>However, the company’s profit has declined for the second consecutive quarter due to inflationary pressures.</li><li>The company reported a consolidated gross revenue of ₹2 lakh crore in the financial year 2022 that ended in March.</li></ul>Reliance Retail — a subsidiary of Reliance Industries Limited (RIL) — has reported its best quarter ever with its gross revenue crossing ₹58,000 crore (over $7 billion) mark once again in the April to June 2022 quarter. However, its net profit declined for the second time this year too, with high input costs weighing it down. Reliance Retail reported a gross revenue of ₹58,554 crore in the last three months, representing nearly 52% hike from the April-June quarter of last year. Its net profit stood at ₹2,061 crore, representing a hike of 114% from last year. “In the retail business, we continue to focus on enhancing our consumer touch-points and building a stronger value proposition for our customers. Our strong supply chain infrastructure and sourcing efficiency is helping us maintain competitive pricing for daily essentials, thereby insulating consumers from inflationary pressures,” Mukesh Ambani, chairperson and MD of Reliance Industries Limited (RIL) said. Even though its revenue increased by ₹537 crore compared to the previous quarter, its net profit actually declined by ₹78 crore. This is the second sequential fall in net profit – the retail giant reported a similar decline in the March quarter as well, despite marginal increases in revenue. <div type="image" title="Reliance Retail reports a second consecutive quarter of declining profits" msid="93059085" hostid="261" sizebytes="140952"></div> <cmsannotation type="cmsannotation" annotationid="Reliance Retail has managed to navigate the inflation storm so far" comment="subhead" text="Reliance Retail has managed to navigate the inflation storm so far">Reliance Retail has managed to navigate the inflation storm so far</cmsannotation> Despite a challenging macro environment, the marginally higher revenue suggests Reliance Retail has maintained its topline. “Reliance Retail delivered a strong performance with its best-ever quarterly revenues in a macro environment that remained challenging,” the company said in a statement. Even though inflation has been hitting the customers’ demand, discretionary spendings have largely been immune to the negative consumer sentiment. According to a report by ICICI Securities, <a href="https://www.businessinsider.in/retail/news/its-food-not-fashion-where-price-pinches-as-shopping-bags-retailer-coffers-are-swelling/articleshow/92515313.cms">customers’ shopping bags got heavier </a>this year and all retail brands like Reliance Retail, Shoppers Stop, Bata, Pantaloons and Lifestyle are reaping its benefits. “Despite various headwinds, fashion retailers displayed a resilient show with demand picking up pace in the latter part of the second half of FY22. Revenue recovery rate for most apparel and footwear players surpassed pre-Covid levels (100- 105%) from Q3FY22 onwards,” the report said. Reliance Retail has been adding more stores in order to cash in on immunity from inflation. Reliance Retail now owns a network of 15,866 physical stores, out of which 792 were added in the last three months. The company added 2,566 stores in the last fiscal year itself. <div type="image" title="Reliance Retail has managed to navigate the inflation storm so far" msid="93059093" hostid="261" sizebytes="93262"></div> The company also created 1,50,000 new jobs in the last financial year and claims to be one of the biggest employers in India, employing close to 3,61,000 in total. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-itc-infosys-and-other-hot-stocks-on-july-22/articleshow/93041515.cms">Indian markets open in the green – RIL, M&amp;M gain while Nifty IT, Infosys decline</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-best-offers-deals-discounts/articleshow/93024348.cms">Amazon Prime Day 2022 – early deals, bank offers, Prime membership and everything else you need to know</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-to-start-fy23-with-strong-earnings-thanks-to-refining-margins/articleshow/93041430.cms">Reliance Industries to start FY23 with strong earnings, thanks to refining margins</a>

Reliance Retail reports a second consecutive quarter of declining profits

<ul><li><keyword id="7887330" type="General" weightage="20" keywordseo="reliance-retail-revenue" source="Orion">Reliance Retail revenue</keyword> ₹57,714 crore in the third quarter (Q3) of FY21.</li><li>This is ₹20,000 crore higher than the revenue it reported in the same quarter last year.</li><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> spent over $1 billion on acquisitions and strategic partnerships between April to December 2021.</li></ul>Mukesh Ambani-led Reliance Retail — a subsidiary of oil-to-chemical conglomerate <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> (RIL) — has reported its highest ever revenue in the October to December quarter of financial year 2022. The company’s revenue crossed ₹57,714 crore in the third quarter (Q3) of FY21, which is nearly ₹20,000 crore higher than the revenue it reported in the same quarter last year. It has also surpassed Reliance Retail’s January-March quarter (FY20) revenue by ₹10,000 crore. Notably, Reliance Retail had previously cited January-March figures as its <a href="https://www.businessinsider.in/retail/news/reliance-retail-emerges-as-the-fastest-growing-segment-for-mukesh-ambani/articleshow/82331594.cms">highest ever quarterly revenue</a>. The company’s EBITDA (earning before interest, taxes, depreciation, and amortisation) was nearly 24% higher at ₹3,822 crore. <div type="image" title="Reliance Retail earns $1.3 billion more than its best ever quarter" msid="89044974" hostid="261"></div> Overall, the company has reported a revenue of ₹1,41,711 crore in the first three quarters of financial year 2022. It is already nearing FY2021 revenue figure of ₹1.57 lakh crore. “Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country. Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” Mukesh Ambani, chairperson and managing director of Reliance Industries, said. Reliance Retail has witnessed strong growth momentum in fashion and lifestyle business as well as groceries. Festive season, successful winter wear collection and higher footfall in stores contributed to this growth. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updates </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recorded highest ever revenue and EBITDA (earning before interest, taxes, depreciation, and amortisation) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digital and new commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ajio recorded the highest ever growth, Zivame reached a milestone of 100 stores, and Urban Ladder grew 2X over last year. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics stores posted double-digit growth with improvement across all operating parameters. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion &amp; Lifestyle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest ever quarterly revenue with 2X growth over last year. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Reliance Retail in its recent financial statement also mentioned that it has invested over ₹7,600 crore (over $1 billion) in acquisition and strategic partnership between April to December 2021. In the last quarter, the company had made three acquisitions, which included grocery chain Jaisuryas and women’s intimate wear brand Amante. The retail giant also invested $200 million in Google-backed quick commerce platform Dunzo to further enhance JioMart. 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Reliance Retail earns $1.3 billion more than its best-ever quarter

IT heavyweights led by <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword>, <keyword id="44863" type="General" weightage="20" keywordseo="hul" source="Orion">HUL</keyword> and Reliance Industries dragged the <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> down to a sharp fall of more than 1,000 points on Friday. Infosys is down more than 8 per cent, HUL is down 3.8 per and Reliance is down more than 3 per cent. IT majors, HCL Tech is down 4 per cent while Wipro is down more than 3 per cent. Weak Q1 results by Infosys and Hindustan Unilever are weighing on Indian indices. HUL's revenue growth of 6 per cent YoY was below our expectations, HDFC Securities said in a report. HUL is down 3 per cent in trade on Friday. Domestic volume growth, at 3 per cent, was below our estimate. We note volume growth was impacted as trade reduced stock levels (1-3 days) in lieu of price cuts. In home care, fabric wash grew in double digits, led by the premium portfolio while household care too grew in double digits (volume-led), driven by outperformance in dishwash, the report said. Further price reduction taken in soaps. Hair care registered mid-single digit volume-led growth, while skincare/oral care grew in double digits. On Infosys, Motilal Oswal Financial Services said the FY24 guidance reset will impact near-term stock view. Infosys reported 1QFY24 revenue at USD4.62b, up 1.0 per cent QoQ in CC terms with 20 bps QoQ decline in operating margin. While on a negative surprise, the company has sharply lowered its FY24 revenue growth guidance to 1.0-3.5 per cent YoY CC from 4.0-7.0 per cent YoY CC earlier. The substantial cut in the guidance is majorly attributed to lower-than-expected volume and discretionary spends, delays in decision-making and push-outs in anticipated mega deals, the report said. "We lower our below-guidance FY24 estimates (earlier at 3.8 per cent YoY CC) by 120bp despite the 325bp cut in guidance at the mid-point, to take into account the weaker demand commentary and project delays," the report said.

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