Hathway Cable and Datacom, a cable television service operator based in Mumbai, said its consolidated net profit plunged 61 per cent during the quarter ending March. This happened despite the revenues being stable. This apparently happened due to a high base.

Independent analyst Manish Shah said the Evening Star pattern is taking place below a falling trendline and also into a Fibonacci retracement cluster. "We have context and location for the bearish pattern. This does suggest that Nifty50 will trade lower over the next 2-3 weeks."

The second largest IT player on Wednesday said it delivered the highest annual growth in a decade with broad-based performance.

In the international market, gold was trading with gains at USD 1,974 per ounce and silver was flat at USD 25.62 per ounce.

The record date for the purpose of payment of the final dividend is June 1, 2022, the company said in a regulatory filing. The dividend will be paid on June 28, 2022. With this, the company will be taking the total dividend for FY22 to Rs 31 per share, an increase of 14.8 per cent over the prior year, according to Nilanjan Roy, Chief Financial Officer of the company.

On Tuesday, the rupee fell 24 paise to end at 76.15.

The percentage of women employees in its workforce remained the same quarter on quarter at 39.6 per cent. Year on year, it increased by 1 percentage point.

“After the Ola electric scooter fire incident, we did get a lot of enquiries from people asking about our battery tech and how safe it is. We clarified and most people understand that we have been working with these batteries from 2019. We started with ride sharing and we have a fleet of electric scooters. ”

Falling for the third straight session, the 30-share pack Sensex declined 237.44 points 0.41% to close at 58,338.93.

“Some of the commodity producers like oil and gas and metals are obvious beneficiaries of inflation and then we have sectors like utilities and telecom to an extent which do not have a very direct negative impact on their margins or profitability just because of general rise in inflation in the economy. What gets hurt obviously is a sector like auto where the margins are low and the ability to pass on the price increase is very diminished.”