Stocks In the News: Check out the companies making headlines before the opening bell.
Kalpataru Power Transmission | Proposal for reorganisation | A board meeting of the company is scheduled to be held on February 19 to discuss and consider a proposal for reorganisation. The trading window of the company shall remain closed until completion of 48 hours of the announcement of the outcome. The stock was up 2.7 percent on February 16. It has generated returns of 5.7 percent in the past one year but is down 4 percent in the past one week.
Tata Consultancy Services | Partnership with MATRIXX Software | The company announced a partnership with MATRIXX Software to offer a comprehensive next-gen subscription management platform for communication service providers. This will help communication service providers transform their prepaid and postpaid businesses, enhance customer experience and drive growth. TCS ended the day on a flat note. The stock has generated returns of 22.7 percent in the past one year but is down 4 percent in the past one month.
Wipro | Awarded five year contract by ABB | The company received a five year contract to drive transformation for ABB’s information systems digital workplace services. The agreement, worth over $ 150 million, will help ABB’s information systems deliver enhanced, consumer-grade digital experiences for its 1,05,000 employees in over 100 countries. Wipro closed flat on February 16. The stock has generated 29 percent returns in the past one year but is trading down 12 percent in the past one month.
Infosys | Partners with Google for Google Cloud Cortex | The company has been named a foundational partner for the launch of Google Cloud Cortex Framework. Infosys will help clients to accelerate digital transformation and power new business capabilities with its data, analytics and AI expertise. The company will take advantage of Google Cloud Cortex Framework, along with its strong experience in SAP and Google Cloud ecosystems, to deliver better business outcomes. Infosys was down 0.3 percent on February 16 but has generated returns of 34 percent in the past one year. The stock has lost 10 percent in the past one month.
Avenue Supermarts | CRISIL has reaffirmed AA+ rating | Credit ratings agency CRISIL has reaffirmed AA+ rating for the company’s bank loan facilities of Rs 500 crore, with a stable outlook. The stock was down 0.75 percent on February 16 and has generated returns of 29 percent in the past one year. In the past one week, it has lost 6 percent.
Best Agrolife | Subsidiary has received manufacturing licence | Subsidiary Best Crop Science (previously known as Best Crop Science LLP) has received a licence for indigenous manufacturing of Spiromesifen technical, from Central Insecticides Board & Registration Committee. Spiromesifen acts as an insecticide and miticide that controls red spider mite in brinjal, whitefly & mite in cotton, European red mite & red spider mite in apple, chili & 0kra, yellow mite in chili, etc. The stock gained 0.76 percent on February 16. It has gained 81 percent in the past one year but is down 15 percent in the past one month.
Southern Petrochemicals | Profit zoomed 832 percent, revenue increased 15 percent | Consolidated profit in Q3FY22 grew significantly by 832 percent year-on-year to Rs 59.6 crore compared to Rs 6.4 crore in Q3FY21 aided by higher revenues in its core urea operations and significant savings in power & fuel costs as it shifted to gas as a fuel. Consolidated revenue grew by 15 percent to Rs 492 crore from Rs 427 crore during the same period. The stock was up 4 percent on February 16 and gained 121 percent in the past one year.
Compuage Infocom | Board approves rights issue | The company received approval from the board of directors for fundraising up to Rs 50 crore through a rights issue. The stock was flat on February 16 but has gained 136 percent in the past one year. The stock has lost 12 percent in the past one month.
Modern Converters | Appointment of CFO | Subhas Chandra Bose has been appointed as chief financial officer of the company. The stock was flat on February 16. It has appreciated 97 percent in the past one year and by 5 percent in the past one week.
GHCL | Additional capex of Rs 83 crore | The company has approved an additional capital budget amounting to Rs 83 crore for spinning division for FY22. The capex will be spent on installation of a solar power plant of 20 MW for use by Madurai and Manaparai units of the spinning division in Tamil Nadu. The stock appreciated 0.8 percent on February 16. It has generated returns of 99 percent in the past one year but has lost 4.7 percent and 6.4 percent in the past one month and past one week respectively.
Texmaco Infrastructure & Holdings | Promoter bought equity shares | Promoter Duke Commerce bought 3 lakh equity shares in the company via open market transactions on February 15, increasing shareholding to 6.61 percent from 6.38 percent. The stock was up 2 percent on February 16. The stock has lost 15 percent in the past one year and 9 percent in the past one month.
Quess Corp | Promoter acquires equity shares | Promoter Ajit Abraham Isaac acquired 1.32 lakh equity shares in the company, via open market transactions on February 15. The stock gained 1.2 percent on February 16 but has lost 20 percent in the past one year and is down 21 percent in the past one week.
Moneycontrol News
`); } if (res.stay_updated) { $ (“.stay-updated-ajax”).html(res.stay_updated); } } catch (error) { console.log(‘Error in video’, error); } } }) }, 8000); })
