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Stocks in the news:- Reliance Industries: The country's largest company by market capitalisation recorded 19.1 percent year-on-year growth in consolidated profit at Rs 19,299 crore for Q4FY23, with EBITDA growing 21.8 percent on-year to Rs 41,389 crore. Gross revenue rose 2.8 percent YoY to Rs 2.39 lakh crore with continuing growth momentum in consumer businesses. ICICI Bank: The country's second-largest private sector lender clocked a massive 30 percent on-year growth in standalone profit at Rs 9,122 crore for January-March quarter FY23, despite 51.5 percent increase in provisions & contingencies, driven by net interest income and operating profit. Net interest income for the quarter at Rs 17,667 crore surged by 40.2 percent year-on-year, with net interest margin expansion of 90 bps YoY and 25 bps QoQ at 4.90 percent. Yes Bank: The private sector lender said its standalone profit in January-March 2023 fell 45 percent YoY to Rs 202 crore, dented by 128 percent increase in provisions and contingencies. However, net interest income grew 15.7 percent to Rs 2,105 crore with net interest margin expansion of 30 bps at 2.8 percent for the quarter. Tejas Networks: The telecom and networking products maker narrowed its consolidated loss for the March FY23 quarter to Rs 11.5 crore, from a loss of Rs 49.6 crore in same period last year as consolidated revenue surged 13.6 percent YoY to Rs 299.3 crore and EBITDA loss dropped to Rs 8.19 crore from Rs 88.11 crore in the same period. HDFC Asset Management Company: HDFC AMC received final approval from SEBI for change in control of the company due to change in co-sponsor of HDFC Mutual Fund from HDFC to HDFC Bank, after the merger of HDFC and HDFC Bank. The respective approvals from SEBI in terms of the AIF regulations and the PMS regulations are awaited. Gujarat Industries Power: The company's board approved the procurement of imported coal for 500 MW Surat Lignite Power Plant (SLPP). The approval has also given for deliberation of EPC contract for pooling sub-station -2 (PSS-2) of solar / wind / hybrid RE Park of 2375 MW capacity at Khavda, Great Rann of Kutch, Gujarat. Kotak Mahindra Bank: Shareholders approved the appointment of Uday Kotak as a Non-executive, Non-independent Director of the private sector lender. Ninety nine percent of shareholders voted in favour of resolution to appoint Kotak as a Non-Executive Director. Uday Kotak's current term as MD & CEO of Kotak Mahindra Bank is set to end in December 2023.

Results Corner:- IndusInd Bank, Century Textiles Industries, Bank of Maharashtra, Persistent Systems, Mahindra Logistics, IIFL Securities, NELCO, Tamilnad Mercantile Bank, Trident Texofab, Tata Teleservices (Maharashtra)

Results on April 24 IndusInd Bank, Century Textiles Industries, Bank of Maharashtra, Persistent Systems, Mahindra Logistics, IIFL Securities, NELCO, Tamilnad Mercantile Bank, Trident Texofab, Tata Teleservices (Maharashtra)

Results on April 24 IndusInd Bank, Century Textiles & Industries, Bank of Maharashtra, Persistent Systems, Mahindra Logistics, IIFL Securities, NELCO, Tamilnad Mercantile Bank, Trident Texofab, and Tata Teleservices (Maharashtra) will be in focus ahead of quarterly earnings on April 24.

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