Good morning!
Here are the top stories to start your day.
For more updates on F&O, click here.
⭐ Mahanagar Gas Q4 profit goes up
The city gas distributor posted a net profit of ₹268 crore for Q4FY23, up 104% YoY compared to ₹131 crore for the same quarter last year. Meanwhile, its revenue from operations in Q4FY23 was ₹1,771 crore, a growth of 49% YoY compared to the same quarter last year. The company’s board has proposed a final dividend of ₹16 per share.
⭐ Nerolac Q4 profit zooms
Kansai Nerolac Paints (KNPL) reported net profit of ₹94 crore for Q4FY23, a growth of 283% YoY over the same quarter last year. The company’s net revenue from operations for the same period was ₹1605 crores, a growth of 13.6 % over the corresponding quarter of the previous year. The company’s board has recommended a dividend of ₹2.70 per share.
⭐ Mankind Pharma listing today
Mankind Pharma, the pharmaceutical and healthcare products company, is slated to be listed today. The company retails several popular brands such as Manforce and Prega News. Its initial public offering which ended April 27 was eventually subscribed over 15 times.
Global markets (at 8:50 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.10% |
| Nikkei 225 (Japan) | ▲ 0.77% |
| Hang Seng (Hong Kong) | ▼ 0.54% |
| SSE Composite (China) | ▲ 0.28% |
| Dow Jones (US) (May 08) | ▼ 0.17% |
| NYSE (US) (May 08) | ▲ 0.03% |
| Nasdaq (US) May 08) | ▲ 0.18% |
| S&P 500 (US) (May 08) | ▲ 0.05% |
Fact of the day
Domestic fuel consumption was at 18.4 million tonnes, a drop of over 10% MoM in April 2023