Indian markets may consolidate on Tuesday following mixed global cues. The Sensex gained over 300 points with Nifty50 closing just below 18600 levels. India VIX rose 3.34% from 11.90 to 12.29 on Monday, indicating some consolidation in record-high index levels amid the start of the new series. Options data reveals a potential trading range of 18300 to 18800 zones, with minor call writing seen at 18700 to 18800 strikes, and put writing at 18400 to 18300 strikes. Several experts recommend short-term trades in select companies.

Eveready Industries India has made changes to its distribution network, which involves trimming direct distributors from 5,000 to a more manageable and efficient 1,000. The change, however, will not affect business with the remaining manufacturers, and the others will continue business with the company as sub stockists.

IL&FS Infrastructure Debt Fund (IIDF), part of the IL&FS group and a financial creditor of McLeod, has applied under a provision of the IBC against McLeod Russel India Ltd with the National Company Law Tribunal, Kolkata Bench. IIDF filed the petition against the company for default in payment of Rs 347.4 crore as on November 12, 2019, of which the principal amount is about Rs 252.66 crore.

Eveready Industries India Ltd reported a consolidated net loss of INR 14.39 crore ($1.9m) in Q4 2022, down from INR 38.41 crore in the same period 2021. Revenue from operations increased 18.62% YoY to INR 286.17 crore driven by growth in the company's three segments: batteries (21%), flashlights (25%) and lighting (26%). However, the company's net profit decreased 40.54% to INR 27.63 crore in FY23 from INR 46.47 crore in FY22, even as consolidated revenue from operations rose 10.02% YoY to INR 1,327.73 crore.

The March quarter earnings for IT companies have been disappointing, while the banking and finance sector has shown strong numbers. This week several significant companies such as Tata Motors, L&T, Asian Paints, DLF, Vedanta and Avenue Supermarts are releasing their March quarter report cards. On May 11, Eicher Motors, Aditya Birla Capital and ITI are set to release their reports. Meanwhile, Larsen & Toubro, Godrej Consumer Products and Dr Reddy's Laboratories will release theirs on May 10. Avenue Supermarts is set to release its report on May 13.

IIDF, a financial creditor of McLeod, filed the petition against the company for default in payment of Rs 347.4 crore as on November 12, 2019, of which the principal amount is about Rs 252.66 crore.

Last month, lenders decided to hold a second-round challenge auction to maximise recovery since the offers in the first round were very low, said people cited above. In the first round, lenders had received the highest offer of Rs 319 crore, which was much below their expectations, one lender said. The second round saw nine bidding rounds between Nalwa Steel and BTL.

The company had posted a net profit of Rs 23.71 crore in the October-December period a year ago, Eveready Industries said in a regulatory filing.

The latest sale of 1% stake by the Burman family in Dabur, which fetched around Rs 1,000 crore, is viewed as a step towards increasing holding in Eveready to over 50% from 43%, which may also result in reducing debt

“My tenure wont change the way business is run at Dabur; focus will be on newer categories. The business has not really grown in the last 10 years but we are going to be at least doing double digit growth from next year onwards. Dabur will continue innovating, launching new products and focussing on growing our distribution but not owning it.”

"Profit After Tax for Q2 was impacted adversely by a non-cash charge of unamortised front-end fees of a loan repaid during the quarter and an adjustment to deferred taxes. This will even out for the full year," the company said in its earning statement.

SBI Cards and Payment Services, Indus Towers, Tata Chemicals, REC, Aditya Birla Sun Life AMC, V-Guard Industries, Tamilnad Mercantile Bank, PNB Housing Finance, Latent View Analytics, PC Jeweller, Lloyds Steels Industries, Indian Metals & Ferro Alloys, Supreme Petrochem, Gangotri Textile

Battery and flashlights maker Eveready Industries India Ltd on Monday reported a decline of 27.48 per cent in its consolidated net profit at Rs 21.85 crore for the quarter ended June 30, 2022. The company had posted a net profit of Rs 30.13 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing.

Eveready Industries, in which the Burman family were classified as promoters last month, reported total expenses of Rs 310.50 crore in Q1 FY 2022-23, up 27.16 per cent from Rs 244.17 crore earlier.

The company had posted a net profit of Rs 30.13 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing.

The appointment was finalised by the Eveready board in a meeting held in Kolkata on Monday. Mohit Burman and Arjun Lamba, a close associate of the Burmans have been appointed as non-executive directors, he said. A formal announcement is expected soon.

As per a stock exchange filing made on Tuesday, the proposed appointment will be with effect from July 12 subject to approval of the shareholders. The company is likely to appoint the new chairman amongst these three directors in the next board meeting later this month or early next when Eveready announces its April-June quarterly earnings.

The Burman Group, through its entities Puran Associates, VIC Enterprises, MB Finmart, Gyan Enterprises and Chowdry Associates had increased stake in Eveready to 38.37 per cent and became promoters of the Kolkata-based firm.

The investment firms of the Burman family entities had acquired a 14.55 per cent share of Eveready Industries from the open market in June and now collectively own a majority stake. Prior to this, the family already had acquired a 23.83 per cent stake in Eveready Industries.

After short term correction, Talbros Automotive Components took support near 200 day SMA (Rs 413) and reversed sharply. Post reversal, in this week so far, it rallied over 15 percent and also formed a long bullish candle on weekly and daily charts.

Confirming the development, Mohit Burman from the Burman promoter family said the open offer has concluded. “Our shareholding has now gone to 38.3%. We are happy with the outcome. We got 14.3% shares in the offer,” he said.

"Measures taken through prudent provisioning have now rectified that deficiency," said Suvamoy Saha, who joined Eveready as managing director in March this year after the exit of Khaitains.

The open offer will start on June 3 and will end on June 16. The offer price has been set at Rs 320 per equity share of Eveready Industries.

Divis Labs, BEL, SAIL, Zomato, Ramco Cements, Birlasoft, Graphite India, Vaibhav Global, HLE Glasscoat, Rupa and Company, Data Patterns, HG Infra Engineering are among the companies that will announce their Q4 earnings today.

Suvamoy Saha, erswhile Joint Managing Director of the company, was asked to assume the responsibilities as interim Managing Director after the resignations of former non-executive Chairman Aditya Khaitan and erstwhile Managing Director Amritanshu Khaitan on March 3, following an open offer from the Burman group for a controlling stake in the company.

Bajaj Finance, HDFC Life, AU Small Bank, Macrotech Developers, Schaeffler India, Tata Teleservices, Atul, NAM India, Sanofi India, Adiya Birla AMC and KPIT Tech are among the companies that will announce their March quarter results today.

Tata Elxsi, ICICI Securities, Angel One, Glenmark Life, JTL Infra, RIIL, Add-Shop e-retail and Indbank Merchant Banking are the companies that will announce their March quarter results today.

The Rs 604.76-crore open offer by the Burman group to acquire an additional 26 per cent in Eveready Industries is slated to open on April 26.

The Rs 18,000 crore share buyback of TCS will kick off today and the company will continued to accept shares till March 23. It plans to buy back 4 crore shares at Rs 4,500 per share.