GoFirst files for Bankruptcy; MRF(+5.60%) Reports Impressive Q4 Earnings

US Federal Reserve to announce interest rate decision today

Market summary

Closing Bell: Nifty below 18,100, Banknifty above 43,300, Sensex 160 pts down, IT, metal, psu banks slides. 📉

Weak global cues lead to a gap down opening for Nifty, Weekly expiry tomorrow.

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Companies

Adani Total Gas(-3.76%) statutory auditors Shah Dhandharia resigns within a year of appointment.

Adani Wilmar(-4.33%) Q4 Net Profit down by 60.1% YoY to INR 93.6 Crore, revenue Dips 7% YoY. 📉

MRF(+5.60%) Q4 Net Profit Soars to ₹410.7 Crore, Revenue Growth Continues in Q4, Up 10.1%.🚀

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Sectors

Indian media and entertainment sector to grow at 11.5% expected to reach $29.2 billion by 2023.

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Market news

1. Tata Steel(-0.54%) reports disappointing Q4 results with 84% drop in net profit.📉

2. Havells(+1.28%) reports strong Q4 net profit of ₹358 crore.

3. SpiceJet(+1.93%) seeks Rs 400 crore loan 💰 to revive 25 aircraft fleet in wake of GoFirst bankruptcy.🧾

4. Ambuja Cements(-2.73%) Q1 net profit rises marginally to Rs 502 crore, revenue up 8% YoY.🚀

5. Rane Brake Lining's(-1.72%) Q4 profit falls 8.4% YoY to Rs 12 crore, increase in Q4 revenue at Rs 164.9 crore.

6. Godrej Properties(-0.02%) Q4 net profit surges 58.2% to Rs 412.1 crore with 23.7% revenue growth.🚀

7. KPR Mill(-1.53%) Q4 net profit falls 4.7% YoY to Rs 209.5 crore, revenue jumps 34.5% YoY to Rs 1,949.6 crore.📉

8. Mold-Tek Packaging's(-0.74%) Q4 net profit surges 32.9% to Rs 23 crore, Revenue grows 3.8% YoY in Q4.

9. Jyothys Lab(+0.78%) Q4 net profit surges 55.3%, revenue rises 12.9% on strong demand for products.📈

10. GoFirst bankruptcy concerns weigh on Central Bank Of India, Bank of Baroda, IDBI Bank, and Axis Bank.

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