Benchmark indices ended lower on April 11 with the Nifty finishing below 17,700 dragged by IT and capital goods stocks. At close, the Sensex was down 482.61 points or 0.81% at 58,964.57, while the Nifty ended 109.30 points or 0.61% lower at 17,675.
Tata Motors | CMP: Rs 453 | The stock ended in the green on April 11. Tata Motors is looking to ramp up the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin, according to a top company official. The Mumbai-based automaker, which led the passenger electric vehicle space in the domestic market in the last fiscal year, has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range.
Hindustan Aeronautics | CMP: Rs 1,680.75 | The stock price jumped over 3 percent after the firm said it has signed a contract with the Nigerian Army for imparting Phase-II flying training on Chetak Helicopter for six officers of Nigerian Army Aviation. This marks the continuation of the contract signed in April 2021 for imparting Phase-I flying training to six Nigerian Army Aviation officers, which was successfully executed in December 2021, the Bengaluru-headquartered company said in a statement. The Phase-II flying training on Chetak Helicopter is scheduled to commence on Monday and is planned to be completed by December 2022.
SMS Lifesciences | CMP: Rs 874 | The scrip jumped 10 percent after the company received zero observations from the US drug regulator. “The United States Food and Drug Administration (USFDA) has completed the inspection at SMS Lifesciences India’s API manufacturing facility located at Sy. NO. 180/2 Kazipally, Jinnaram Mandal, Sangareddy district, Telangana (Unit I), without any observations,” the company said in its release.
TCS | CMP: Rs 3,699 | The stock ended in the green on April 11. Growth is expected to be broad-based across verticals for the second-largest Indian company in terms of market capitalisation. The firm continues to witness strong demand across technology segments aided by strong client requirements for cloud and digital transformation, data analytics, artificial intelligence, Internet of Things (IOT), 5G rollouts, and cyber security. Consolidated profit after tax for TCS may jump 8 percent on year to Rs 10,000 crore in the quarter ended March while consolidated revenues are expected to grow 15.5 percent on year to Rs 50,500 crore, said experts tracking the company.
Godrej Industries | CMP: Rs 498.25 | The share price was up over 2 percent after the company announced the launch of Godrej Capital Limited (GCL). GCL is a subsidiary of GIL and is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). With the ultimate aim of building a world-class retail financial services business and a near-term aim of building a Rs 30,000 crore balance sheet by 2026, GIL has committed to invest Rs 1,500 crore in capital in GCL.
Intellect Design Arena | CMP: Rs 950 | The scrip ended in the red on April 11. Intellect Global Transaction Banking (iGTB) announced that Hanoi-headquartered VPBank has signed a major transformative deal to digitise and streamline its transaction banking offerings. For Intellect, this deal marks the tenth key digital banking transformation deal in Vietnam.
Kesoram Industries | CMP: Rs 60.15 | The scrip ended in the red after the firm posted a consolidated net loss at Rs 46.1 crore versus a profit of Rs 96.4 crore and revenue was up 19.8% at Rs 1,032 crore versus Rs 861.6 crore, YoY. Earnings before interest, tax, depreciation, and amortisation (EBITDA) was down 15.1% at Rs 97.8 crore versus Rs 115.2 crore and margin at 9.5% versus 13.4%, YoY.
Piramal Enterprises | CMP: Rs 2,316.70 | The stock ended in the red in a market that closed in the negative territory. Jefferies has maintained a buy rating on Piramal Enterprises with a target at Rs 3,100 per share. The integration, per brokerage firm, is on track, while pharma challenges can persist in the near term. In pharma, it expects challenges to continue in CDMO and expect complex injectables to register sales recovery. Consumer healthcare to sustain its growth momentum and lift FY22-24 profit estimates by 1-3%, said Jefferies.
Shoppers Stop | CMP: Rs 455.90 | The stock ended in the red on April 11. Shoppers Stop said that as per the agreed terms for the sale of 100% equity shares of Crossword, the company (Shoppers Stop) has completed the further sale of 19.50% of stake in Crossword today i.e. April 8, 2022.
Sandur Manganese | CMP: Rs 4,522.80 | The scrip surged 20 percent after its board approved raising funds via a rights issue. The firm will issue 18 million shares at a face value of Rs 10 each and will offer two new shares for every one held by shareholders. The firm also informed exchanges that it is in a pact with Renew Green Energy Solutions for the supply of solar and wind power to the company.
