SBI, Tech Mahindra and other stocks in the news today

NEW DELHI: The BSE Sensex is expected to open higher on Friday. India’s stock indices fell 2.22 percent, the fifth consecutive day of decline on Thursday, as concerns over high inflation and heavy selling by foreign portfolio investors roiled markets. This was accompanied by a weakening of the rupee, which hit a record low of 77.63 against the dollar.
India’s headline retail inflation surged to 7.79 percent in April – the highest since May 2014. At 7.79 percent, the Consumer Price Index (CPI) inflation for April is 84 basis points higher than 6.95 percent of March number, data released on May 12. by the Ministry of Statistics and Program Implementation.
India’s industrial growth, as per the Index of Industrial Production (IIP), edged up 1.9 percent in March to 1.5 percent in February, data released on May 12 by the Ministry of Statistics and Program Implementation showed.
The Southwest Monsoon is set to arrive early in the Andaman and Nicobar Islands to receive first seasonal showers on May 15, the weather office said on Thursday.
Corporate results today: State Bank of India, Eicher Motors, Tech Mahindra, Bank of Baroda, Bandhan Bank, Union Bank of India, Alkem Laboratories, Emami, Escorts, Hindustan Aeronautics, JK Paper, Linde India, Nazara Technologies, Amber Enterprises India, APL Apollo Tubes, Balkrishna Industries, Carborundum Universal, CESC, Coromandel Engineering Company, DB Corp, Elgi Equipments, Gujarat Fluorochemicals, REC, Reliance Infrastructure, Reliance Power will release their quarterly results today.
Tata Motors: The automaker posted a loss of Rs 1,032 crore in Q4FY22, which narrowed from a loss of Rs 7,605 crore in the year-ago period.
L&T: Larsen & Toubro reported on Thursday its consolidated net profit at Rs 3,620.69 crore for the quarter ended March, 2022.
Sun Pharmaceutical Industries: The drug maker said it has received final approval from the US health regulator for Mesalamine extended release capsules, used to treat bowel disease in the American market.
Mahindra CIE Automotive: A promoter entity of automotive component supplier Mahindra CIE Automotive bought the company’s shares worth Rs 200 crore through an open market transaction. The company in a BSE filing said the board approved to buyback shares worth up to Rs 75 crore of the company, at a price of Rs 1,150 per share.
With inputs from PTI

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