Stocks In the News: Check out the companies making headlines before the opening bell.
Zomato | Competition Commission of India orders investigation against online food delivery platforms Zomato and Bundl Technologies, the operator of Swiggy, for some of their conduct following a complaint filed by National Restaurant Association of India that alleged contravention of rules by the two companies.
SBI Card and Payment Services | Private equity firm Carlyle Group will sell its entire stake in SBI Cards and Payments Services Ltd for as much as Rs 2,558 crore, according to deal terms seen by Moneycontrol. CA Rover Holdings, a Carlyle entity which, as of December 2021 quarter, held 29.20 million shares or 3.09 percent stake in SBI Cards, will sell its entire stake in the firm through a block trade. The shares are being offered at Rs 851.50-876.75 a piece, representing around 3 percent discount to the current market price.
3i Infotech | The company has secured a cloud transformation deal for its NuRe platform, from one of the large commercial banks in Asia-Pacific region. Deal size is approximately Rs 6.04 crore.
Emami Realty | India Ratings and Research has assigned and upgraded the credit rating of the company’s long-term bank facilities at ‘A-‘/Stable.
IRB Infrastructure Developers | The project of eight lane Vadodara Kim Expressway in Gujarat under NHDP Phase – VI on Hybrid Annuity Mode implemented by its subsidiary has received a Provisional Certificate from the Competent Authority. The subsidiary received a Provisional Certificate after substantial completion of the works in 22.585 km out of 23.740 km of the project highway. Consequently, the SPV is eligible for receipt of Bi-annually annuity payments from NHAI for the operation period of 15 years.
Hindustan Zinc | The company announced highest-ever mined metal production for Q4FY22 of 2.95 lakh tonnes since UG transition, up 17 percent compared to Q3FY22, and up 3 percent compared to Q4FY21. Highest ore production was supported by better mining grades. Refined metal production at 2.6 lakh tonnes in Q4FY22 grew by 2 percent YoY but was flat sequentially.
BEML | The state-owned entity achieved all-time record revenue from operations of over Rs 4,000 crore for financial year 2021-22.
Sejal Glass | Promoter Chandrakant Vallabhji Gogri will sell 9.1 lakh equity shares of the company (i.e. more than 9 percent stake) through offer for sale during April 5 and April 6. The floor price for the sale has been fixed at Rs 270 per share for non-retail investors.
Vedanta | Vedanta said in an exchange filing that it achieved highest ever alumina production of 1.97 million tons while its aluminum output also rose 15 percent year on year to 2.27 million tones, helped by operational efficiencies. Mined metal production of zinc crossed 1 million in India in FY22, international zinc output was higher by 10 percent year on year to 2.23 lakh tons with ramp up at Gamsberg.
Glenmark Pharma | Glenmark Pharma in an exchange filing said that its board has approved repurchase of an aggregate principal amount of $ 75 million of bonds due in 2022 by way of on market purchases at an early redemption amount plus accrued and unpaid interest.
IndusInd Bank | The private sector lender said net advances of Rs 2.39 lakh crore at the end of March 2022 quarter grew by 13 percent compared to year-ago period and up 5 percent compared to previous quarter. Deposits increased by 15 percent YoY and 3 percent QoQ to Rs 2.93 lakh crore in Q4FY22.
Southern Petrochemicals Industries Corporation | The company said its plant at Tuticorin has resumed operations and production of urea resumed on April 2 after completing all the jobs/activities.
Max Healthcare Institute | SBI Funds Management acquired more than 1 crore equity shares in the company through open market transactions on March 31. With this, its shareholding in the company stands at 9.22 percent, up from 8.19 percent earlier.
Wockhardt | The board accepted the request of Deepak Madnani to relinquish his responsibilities as the Chief Financial Officer of the company and appointed Pramod Gupta as the new Chief Financial Officer with immediate effect.
Stylam Industries | CARE has upgraded credit rating on the company’s long-term bank facilities to A with Stable outlook, from A- with Positive outlook, and the rating on short term bank facilities has been upgraded to A2+, from A2.
Tata Consultancy Services | The country’s largest IT services firm has entered into a strategic partnership with Payments Canada, the country’s largest payment organization, to transform its payment system operations and help implement the Real-Time Rail (RTR). This new real-time payments system will allow Canadians to initiate payments and receive irrevocable funds in seconds, 24/7/365.
PCBL | The company has commissioned power plant at Palej, in Gujarat with a capacity of 7.3 MW.
Moneycontrol News
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