Stocks In the News: Check out the companies making headlines before the opening bell
Results on April 20: Angel One, Glenmark Life Sciences, Tata Elxsi, ICICI Securities, JTL Infra, Reliance Industrial Infrastructure, Ellora Trading, HCKK Ventures, Indbank Merchant Banking Services, and Ind Bank Housing will release quarterly earnings on April 20.
Bajaj Electricals: The company partnered wtec to provide smart-engine intelligent building technology for network-powered lighting and sensor infrastructure in India.
Bhagyanagar Properties: The company in a BSE filing said the board on April 25 will consider the voluntary delisting of shares.
HBL Power Systems: Banyantree Growth Capital, LLC offloaded 2.55 percent stake in the company via open market transactions during April. With this, its shareholding stands at 5.9 percent, down from 8.45 percent.
Larsen & Toubro Infotech: The IT services company registered four percent sequential growth in profit at Rs 637.5 crore led by higher other income, and revenue also grew four percent to Rs 4,301.6 crore in the March quarter. The company won four large deals with net new total contract value of over $ 80 million. The dividend for financial year 2021-22 was Rs 30 per share.
Walchandnagar Industries: KKR India Financial Services (lender) has assigned the entire debt due from the company along with underlying financing documents to Assets Care & Reconstruction Enterprise (ACRE).
ACC: The cement major recorded 30 percent year on year decline in March quarter profit at Rs 396 crore as operating income dropped 26 percent to Rs 635 crore due to significant fuel cost increase. Revenue increased 2.6 percent year on year to Rs 4,322 crore in the quarter while cement sales volume dropped from 7.97 to 7.71 million tonnes.
Benares Hotels: Profit for the quarter ended March grew 196 percent year on year to Rs 3.03 crore with EBITDA rising 68 percent to Rs 5.8 crore while revenue increased 46.3 percent to Rs 16.12 crore. The company has announced a dividend of Rs 10 per share, which is subject to approval of shareholders.
Insecticides (India): The company has received patent for an invention titled ‘Novel Granules and its pesticidal compositions’ from Patent Office, government of India. This is valid for 20 years.
Punjab & Sind Bank: The company in a BSE filing said non-performing accounts of SREI Infrastructure Finance with outstanding dues of Rs 510 crore and SREI Equipment Finance with outstanding dues of Rs 724 crore have been declared as fraud. The lender has reported the frauds to the central bank. Further, the accounts have been fully provided for.
VRL Logistics: The company has decided to sell wind power undertaking as a going concern on a slump sale basis to Ratna Cements (Yadawad). It has has signed a memorandum of understanding for the transaction. The project comprises 32 wind turbine generators with a capacity of 40 megawatt.
Mahindra Lifespace Developers: Subsidiary Mahindra World City Developers has received a Rs 102 crore income tax notice. The amount includes interest of Rs 43.1 crore against return of income filed for assessment year 2016-17 by Mahindra World.
Moneycontrol News
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