Check out the companies making the biggest headlines before the bell.
Infosys: The company reported a decline in Q4FY21 consolidated profit at Rs 5,076 crore against Rs 5,197 crore in previous quarter, revenue increased to Rs 26,311 crore from Rs 25,927 crore quarter-on-quarter. The IT company maintained its FY22 constant currency revenue growth guidance at 12-14 percent.
Motherson Sumi Systems: Moody’s Investors Service revised the company’s rating outlook to ‘stable’ from ‘negative’ while affirming the Ba1 corporate family rating to Motherson Sumi Systems. The improved outlook with the affirmed rating reflects the sustainability of earnings and de-leveraging witnessed in the last two quarters despite growth challenges due to the global pandemic, the company said in its BSE filing.
Muthoot Finance: The board of directors of the company has declared an interim dividend of 200% i.e., Rs 20 per equity share of face value of Rs 10 each for the financial year 2020-21. The dividend will be paid to the shareholders on or before May 11.
JSW Steel: Company’s subsidiary JSW Steel Italy S.r.l has completed the acquisition of 30.73% equity share capital of GSI Lucchini S.p.A. In December last year the Share Purchase Agreement had been executed between subsidiary JSW Steel Italy S.r.l. and Industrial Development Corporation, South Africa, for acquisition of 30.73% share capital of GSI for one million euro.
Shipping Corporation of India: Shipping Corporation of India (SCI) has appointed M/s Corporate Professionals Capital Private Limited, as the consultant for undertaking demerger, hive off or transfer of SCI’s non- core assets and ‘assets held for sale’.
UPL: The Supreme Court of Queensland in Australia has dismissed a class action litigation against Advanta Seeds Pty Ltd, UPL’s subsidiary in Australia. “This class action, funded by a UK-based litigation funder, alleged that seeds sold by Advanta in 2010/2011 to certain growers in Queensland and News South Wales region of Australia, were contaminated,” said the company in its BSE filing.
Exide Industries: Exide Industries said it had further invested Rs 39,99,99,999 by way of subscription to the equity share capital of its subsidiary, Exide Leclanche Energy Private Limited, the joint venture company (JVC). With this investment, the equity shareholding of Exide Industries in JVC stands increased from 80.15% to 82.71% of the total paid-up share capital.
Apollo Hospitals Enterprise: Investor Sands Capital Management LLC acquired 4.044% equity stake (56,26,282 equity shares) in Apollo Hospitals, via open market transactions. Sands’ equity stake in the company increased to 9.0523% from 5.0083% earlier, as of March 31.
NBCC (India): NBCC (India) said it had secured the total business of Rs 518.20 crore in the month of March 2021.
5paisa Capital: The company approved fresh capital raise of Rs 250.87 crore through preferential issue of equity shares and warrants at Rs 500 per share to a set of marquee investors and promoters and promoter group.
Associated Alcohols & Breweries: The company appointed Sanjay Kumar Tibrewal as Director, who was CFO earlier. Rahul Tiwari, DGM Accounts & Finance of the company is promoted as the Chief Financial Officer (CFO) of the company.
Moneycontrol News
