Good morning!
Here are the top stories to start your day.
⭐ Persistent Systems robust Q3
Persistent Systems reported robust quarterly numbers. Its revenue rose by 45%YoY to ₹2,169 crore in the December quarter, while net profit was at ₹238 crore, a rise of 34% YoY. Following upbeat quarterly results, the company declared an interim dividend of ₹28 per share.
⭐ India aims for higher coal production
The government has set a coal production target of more than one billion tonnes (BT) for the next financial year. Of which state-owned Coal India has been given a target to produce 780 MT of coal, followed by 75 MT to Singareni Collieries Company. Coal India accounts for 80% of domestic coal production.
⭐ Rallis India Q3- a disappointing quarter
Tata Group company Rallis India has reported a 0.4% YoY rise in revenue to ₹630 crore during the December quarter. Meanwhile, the net profit decreased by over 43% to 23 crore. As per management, the company's business is seasonal in nature and the performance may be impacted by weather conditions and cropping patterns.
Global markets (at 9:00 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.49% |
| Nikkei 225 (Japan) | ▼ 1.52% |
| Hang Seng (Hong Kong) | ▲ 0.10% |
| SSE Composite (China) | ▲ 0.13% |
| Dow Jones (US) (January 18) | ▼ 1.81% |
| NYSE (US) (January 18) | ▼ 1.81% |
| Nasdaq (US) (January 18) | ▼ 1.24% |
| S&P 500 (US) (January 18) | ▼ 1.56% |
Fact of the day
India’s steel production rises 5.7% in the first nine months of FY23
Source: LiveMint