Stocks In the News: Check out the companies making headlines before the opening bell
Results on April 19: ACC, Larsen & Toubro Infotech, Mastek, Tata Steel Long Products, PCBL, Benares Hotels, Godavari Drugs, and Longview Tea Company will release quarterly earnings on April 19.
Wipro: The large-cap IT services company has appointed Satya Easwaran as the Country Head for India.
Eveready Industries India: Puran Associates Pvt Ltd and o thers acquired 76,534 equity shares in the company through open market transactions on April 18. With this, their stake in the company stands increased to 20.07 percent, up from 19.96 percent earlier.
Sanofi India: The company has appointed Rodolfo Hrosz as the Additional Director and the Managing Director of the company, with effect from June 1 for a period of three years.
Tamil Nadu Newsprint & Papers: Life Insurance Corporation of India sold 2.04 percent equity stake in the company via open market transactions. With this, its shareholding in the company stands reduced to 5.95 percent, down from 8 percent earlier.
TVS Motor Company: Jwalamukhi Investment Holdings sold 32,62,840 equity shares in the company via open market transactions. These shares were sold at an average price of Rs 650 per share on the NSE.
Mindtree: The mid-cap IT company recorded a 8.1 percent QoQ growth in profit at Rs 473 crore with revenue rising 5.4 percent to Rs 2,897.4 crore. Revenue in dollar terms grew by 4.8 percent QoQ to $ 383.8 million and the growth in constant currency terms was 5.2 percent for Q4FY22, but EBIT margin contracted to 18.9 percent, down from 19.2 percent in previous quarter. The company has recommended a final dividend of Rs 27 per equity share for full year.
Salasar Techno Engineering: The company on April 30 will consider the proposal of sub-division of existing equity shares having face value of Rs 10 each.
INEOS Styrolution India: Promoter INEOS Styrolution APAC Pte Ltd has proposed to sell 25,32,330 equity shares (14.4 percent stake) of the company via offer for sale issue. It has also kept an option open, to additionally sell 16,88,220 equity shares (9.6 percent stake) vis OFS. The OFS will open for two days – April 19 and April 20.
Sakuma Exports: Union Bank of India has released the pledge on 51,84,380 equity shares. Promoter Saurabh Malhotra had pledged those shares with the bank.
Asahi Songwon Colors: The company acquired 78 percent stake in Atlas Life Sciences, a manufacturer of bulk pharmaceutical ingredients (APIs). The acquisition, which has taken place in cash deal for Rs 48 crore, includes a fully operational WHO GMP certified manufacturing facility in Odhav, Ahmedabad, R&D facility, corporate office, and land parcel in Chhatral.
Ujjivan Financial Services: The company in its BSE filing said the board has appointed Radhakrishnan Ravi, as Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) of the company.
Rail Vikas Nigam: The company has entered into an memorandum of understanding (MoU) with Mahanadi Coalfields (MCL), a subsidiary of Coal India. MCL has given project management consultancy contract for rail infrastructure works to Rail Vikas from concept to commissioning.
SJVN: The company has achieved financial closure by signing of loan agreement of Rs 494 crore with Himachal Pradesh State Co-Operative Bank for development of 66 MW Dhaulasidh HEP (DSHEP), in Himachal Pradesh. The project commenced its construction activities since May 2021 and moving fast forward to generate 304 million unit in a 90 percent dependable year of clean hydro power from FY 2025-26 with levelised tariff of Rs 4.46/Kwh.
Mishtann Foods: The company in a BSE filing said the board has recommended issue of bonus equity shares in the proportion of one bonus equity share for every one share held by shareholders.
Moneycontrol News
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