Stocks In the News: Check out the companies making headlines before the opening bell.
Results on April 12 | Anand Rathi Wealth, GM Breweries, Hathway Cable & Datacom, Tinplate Company of India, Evexia Lifecare, and Gayatri Bioorganics will release quarterly earnings today.
TCS | The IT services provider recorded a profit of Rs 9,926 crore for the quarter ended March 2022, a 7.4 percent growth over the year-ago period, while revenue increased 15.8 percent to Rs 50,591 crore. Revenue growth in constant currency terms was 14.3 percent YoY. The company recorded highest-ever order book TCV (total contract value) of $ 11.3 billion in Q4FY22 and the full year orderbook stood at $ 34.6 billion.
Kesoram Industries | The company posted a loss of Rs 46.14 crore for the March 2022 quarter, which widened from Rs 31.97 crore in the previous quarter. It had recorded a profit of Rs 96.41 crore in year-ago period. Increase in power and fuel costs, and finance cost hit the bottomline. Revenue increased by 20 percent YoY to Rs 1,031.78 crore and the sequential growth was 18 percent.
UltraTech Cement | The cement major has been declared a preferred bidder for Diggaon limestone block. The company participated in the e-auction by the Karnataka government. The block is adjacent to company’s Rajashree unit and has total cement grade geological resources of 530 million tonnes of limestone over an area of 7.86 square km.
WEP Solutions | The company in a BSE filing said the board has approved the appointment of Ashok Tripathy as Managing Director (MD) and Chief Executive Officer (CEO) with effect from July 2022. Ram N Agarwal, the current chairman and managing director, will step down from his role but will continue to be non-executive director and chairman of the company.
JSW Steel | JSW Utkal Steel, a subsidiary of JSW Steel, has received the environmental clearance for setting up of a greenfield integrated steel plant (ISP) with a capacity of 13.2 million tonnes per annum (MTPA) crude steel, from the Union Ministry. The capital expenditure for the said steel plant project is expected to be Rs 65,000 crore.
Gufic Biosciences | The company has received permission from Central Licensing Approving Authority, Central Drugs Standard Control Organisation (CDSCO), Ministry of Health and Family Welfare for manufacture Isavuconazonium Sulfate API and finished formulation Isavuconazole for injection 200 mg/vial. Isavuconazole is indicated for the treatment of invasive aspergillosis and invasive mucormycosis.
Shiva Texyarn | The company has received an order from the government for supply of 35,000 bags for defence personnel (NBC Haversack MK-11). The order is worth Rs 11.90 crore.
Nestle India | The company has declared an interim dividend of Rs 25 per equity share for 2022. The record date has been fixed as April 22 for determining eligibility of shareholders for dividend.
Gujarat State Fertilizers & Chemicals | LIC has offloaded 2.01 percent stake in the company via open market transactions. With this, its shareholding in the company stands reduced to 6.06 percent, from 8.07 percent earlier.
Navkar Corporation | Nippon Life India Asset Management sold 17 lakh equity shares in the company via open market transactions. With this, the fund house’s stake in company declined to 3.56 percent, from 4.69 percent earlier.
Jyoti | Finquest Financial Solutions has sold 16,742 equity shares in the company via open market transactions on April 8. As a result, its shareholding in the company reduced to 6.93 percent, from 7 percent earlier.
Delta Corp | The gaming and hospitality company has reported lower profit at Rs 48.11 crore for the quarter ended March 2022, compared to profit of Rs 57.77 crore in year-ago period, while revenue for the quarter has seen a moderate growth at Rs 218.32 crore, up from Rs 211.34 crore YoY. It also approved amalgamation of Daman Entertainment, and Daman Hospitality with itself.
Moneycontrol News
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