*Business news*
*Macro*
• India Plans $387 Milllion Project to Upgrade Paradip Port
• The World Isn’t Spending Enough to Prevent Disasters, UN Says
• More Russian Oil Than Ever Before Is Heading for China and India
• Indian State Energy Group’s $122M Dividend Stuck in Russia
• Ships Divert to India as Sri Lanka Crisis Slows Colombo Port
• India’s SEBI Updates Procedural Rules for Defaulting Brokers
• Mahindra Profit Exceeds Estimates as Automobile Sales Rebound
• Musk Wants Market Access for Tesla Before Building Local Plants
• India’s DGCA Fines IndiGo for Special Needs Child Incident
• India’s FX Reserves Rise $4.72b to $597.5b in Week to May 20
o India Official Reserves Rise After 10 Weeks of Decrease
• Supertanker Receives Urals Crude via STS Transfer off Fujairah
• Rice Giant Thailand Wants to Coordinate Price Hikes With Vietnam
• 2021-22 Sugar Market to Flip to Surplus on India Exports: ISO
• Indian Underwriters Partially Rescue Weekly Bond Auction
• Conditions Good for India Monsoon Onset Over Kerala
• Growth in Non-Par Policies, Dividend in Focus for LIC: Preview
*Fund flows*
• Global Funds Sell Net INR19.4B of India Stocks Friday: NSE
o Domestic funds buy net 27.3b rupees of stocks
• Foreign Investors Sell Net INR5.64B of Indian Equities Thursday
• Foreigners Buy Net INR68.05B of Indian Equity Derivatives Friday
*Results & Developments*
• Aarti Industries (ARTO): 4Q Net Income 1.94b rupees, +43% Y/y, Beats Est. 1.66b; Revenue 17.6b rupees, +45% y/y
• Adani Enterprises (ADE): To Buy 50% in Local Agri-Focused Drone Maker
• Adani Green (ADANIGR): Says Unit Commissions 390-MW Wind- Solar Power Plant
• Bharat Petroleum (BPCL): Numaligarh Refinery Plans One-Month Maintenance From Mid-March
• City Union Bank (CUBK): 4Q Net Income 2.09b rupees, +88% y/y, est. 1.93b; Provisions +38% q/q to 1.71b; Gross NPA 4.7% vs. 5.21% q/q
• Crompton Greaves (CROMPTON): 4Q Net Income 1.82b rupees, -26% y/y, est. 1.86b
• Edelweiss Fin (EDEL): 4Q Net Income 424.5M Rupees Vs. 6.29B Rupees Y/y
• Engineers India (ENGR): 4Q group profit 791.2m rupees vs. 249.3m year ago; Revenue 8.18b vs. 11.3b
• Finolex Cables (FNXC): 4Q Net Income 2.24B Rupees Vs. 1.68B Rupees Y/y
• FSN E-Commerce Ventures (NYKAA): 4Q Net Income 85.6m rupees, -69% q/q, Misses est. 231.5m
• GAIL India (GAIL): Says No Disruption in Gazprom Supplies on Russia Sanctions
• Glenmark Pharma (GNP): 4Q Net Income 1.56b rupees, -33% y/y, misses est. 2.02b
• Hindustan Copper (HCP): 4Q Net Income 889.9M Rupees vs. loss 368.1m y/y; Revenue +4.4% to 5.45b
• Info Edge India (INFOE): 4Q Net Income 1.21b rupees, +74% y/y, est. 1.29b; Revenue +52% to 4.56b
• JSW Steel (JSTL): 4Q Profit 32.3b rupees, -23% Y/y, Misses Est. 45.58b; Seeks to Raise $1.8B
• Jubilant Pharmova (JUBLPHAR): 4Q Net Income 595.5m rupees, -72% y/y, est. 635.7m; Revenue -3.2% to 15.3b
• Karnataka Bank (KBL): 4Q Net Income 1.30B Rupees Vs. 313.6M Rupees Y/y
• Mahindra & Mahindra (MM):4Q Net Income 12.9b rupees vs. 2.45b y/y, beats est. 12.1b; Revenue +28% to 171.2b
• Oil India (OINL): 4Q Net Income 16.3b rupees, +92% y/y, est. 16.5b; Revenue +74% to 44.8b; Dividend INR5 rupees/share
• Oil & Natural Gas Corp (ONGC) 4Q Net Income 88.6b rupees, +32% y/y, Misses est. 109.3b; Revenue +63% to 345b; Dividend 3.25 rupees/share
• PB Fintech (POLICYBZ): 4Q Net Loss 2.2B Rupees Vs. Loss 2.98B Rupees Q/Q; Revenue +46% q/q to 5.4b
• Sun TV (SUNTV): 4Q Net Income 4.04b rupees, -10% y/y, est. 4.12b; Revenue +6.5% to 8.33b
• TCI Express (TCIEXP): Approves up to INR750m Buyback at INR2,050/Share
• United Spirits (UNSP): 4Q Net Income 1.36B Rupees, -19% Y/Y; Approves Sale of 32 Brands, Franchising of 11
o Diageo to Sell 32 Indian Brands to Inbrew for $106 Million
By: via @AlliesFin Serve Stock Market
