Auto, pharma, IT, and oil and gas indices climbed 1-2 percent each, while selling is seen in the metal and banking names. BSE midcap and smallcap indices ended in the green.
Benchmark indices bounced back and ended higher on April 20 with the Nifty comfortably finishing above 17,100. At close, the Sensex was up 574.35 points or 1.02 percent at 57,037.50, and the Nifty was up 177.80 points or 1.05 percent at 17,136.50.
ACC | CMP: Rs 2,208 | The share price surged over 7 percent after the firm reported a 41 percent increase in consolidated profit after tax of Rs 396 crore as compared to Rs 281 crore in the previous quarter. Year on year, profit declined 30 percent from Rs 563 crore. Consolidated revenue rose five percent to Rs 4,427 crore from Rs 4,226 crore in the December quarter. Year on year, revenue grew three percent from Rs 4,292 crore a year ago. Jefferies has maintained a buy rating on the stock with a target of Rs 2,400.
L&T Infotech | CMP: Rs 5,200 | The stock price fell 5 percent on April 20. The company on April 19 reported a consolidated profit after tax (PAT) of Rs 637 crore for the quarter ended March 2022, up 17 percent from Rs 545 crore in the corresponding quarter of the previous financial year. Goldman Sachs has kept a sell rating on the stock with a target of Rs 4,570 per share. The Q4 was in line with a strong order book and exit rate for FY23. The company announced four large deals with a net new TCV of USD 80 million.
HDFC | CMP: Rs 2,185 | The scrip added 2 percent after the firm said it has entered into binding agreements to sell 10 percent of HDFC Capital Advisors to a subsidiary of Abu Dhabi Investment Authority, the United Arab Emirates’ biggest sovereign wealth fund, for Rs 184 crore.
Escorts | CMP: Rs 1,526 | The share price ended in the red on April 20. A meeting of the board of directors of Escorts is scheduled to be held on Friday, May 13, 2022, to consider, approve and take on record the Audited Financial Results, Standalone and Consolidated, of the company for the quarter and year ended March 31, 2022. The board will consider and recommend the payment of dividend, if any, for the financial year ended March 31, 2022.
VRL Logistics | CMP: Rs 572.60 | The stock price surged over 10 percent after the company has decided to sell wind power undertaking as a going concern on a slump sale basis to Ratna Cements (Yadawad). It has signed a memorandum of understanding for the transaction. The project comprises 32 wind turbine generators with a capacity of 40 megawatts.
Thomas Cook | CMP: Rs 81.80 | The share ended in the red on April 20. Thomas Cook (India) Limited and its Group Company, SOTC Travel, have been appointed Preferred Sales Agents for the Indian market by Emirates Holidays, the tour operating arm of Emirates Airlines.
PSP Projects | CMP: Rs 553 | The scrip jumped over 5 percent after the construction company received orders. “PSP Projects received orders worth Rs 938.76 crore (excluding goods and services tax) which includes fresh orders of Rs 511.39 crore (including order worth Rs 503.56 crore for construction of sports complex at Ahmedabad) and Rs 327.39 crore in FY22 and FY23 respectively and additional scope in existing contracts worth Rs 99.98 crore in FY22,” the company said in a release.
Inox Wind | CMP: Rs 116.35 | The stock ended in the red on April 20. Inox Wind board approved raising funds aggregating up to Rs 402,50,00,000 by way of a preferential issue of equity shares of Rs 10 face value each of the company at an issue price of Rs 126 per equity share inclusive of a premium of Rs 116 per equity share; and Unlisted warrants each carrying a right to subscribe to one equity share of Rs 10 face value each at a premium of Rs 122 per equity share for each warrant.
Insecticides (India): CMP: Rs 734.50 | The share jumped over 5 percent after the firm informed that the Patent Office has granted the patent for an invention titled ‘Novel Granules and its pesticidal compositions’ for 20 years from July 11, 2019, the date of filing.
HBL Power Systems | CMP: Rs 65.15 | The stock jumped over 4 percent on April 20. Banyantree Growth Capital, LLC offloaded a 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.
Sandip Das
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