Stocks In the News: Check out the companies making headlines before the opening bell
Results on April 21: HCL Tech, Nestle India, and others will release quarterly earnings on April 21. Others include ICICI Lombard General Insurance Company, L&T Technology Services, Tata Communications, CRISIL, Cyient, Rallis India, Sasken Technologies, Shiva Cement, Betala Global Securities, Rajratan Global Wire, Roni Households, Shukra Jewellers, S&T Corporation, and Trident Texofab.
Tata Consultancy Services: TCS is now a Microsoft Cloud for financial services partner. The company will help financial services firms accelerate their growth and transformation with Microsoft Cloud for financial services solutions.
Tata Elxsi: Profit jumps 39 percent; revenue growth 31.5 percent year on year (YoY). The design and technology services provider clocked 39 percent YoY growth in Q4FY22 profit at Rs 160 crore on healthy growth in revenue that increased 31.5 percent YoY to Rs 682 crore helped by double-digit growth in transportation, media and communications, and healthcare segments. EBITDA grew by 32 percent YoY to Rs 221.2 crore in Q4FY22.
Century Plyboards: Incorporated a wholly owned subsidiary for rejuvenation of Khidderpore docks (KPD-I West). The company has incorporated a wholly owned subsidiary – Century Ports at Kolkata. The company through its subsidiary will carry out the project for rejuvenation of Khidderpore docks (KPD-I West) in public private partnership mode on a design, build, finance, operate and transfer (DBFOT) basis at Syama Prasad Mookerjee Port, Kolkata.
FSN E-Commerce Ventures (Nykaa): Aveda, a global leader in prestige hair care, has partnered with Nykaa. Aveda has partnered with Nykaa to launch Aveda X Nykaa, with the opening of the first store in the garden city of India – Bengaluru. The beauty and personal care market in India was Rs 1,26,700 crore in 2019, growing at a compound annual rate of 13 percent in the last three years.
Persistent Systems: Kotak Mahindra Mutual Fund bought additional stake. Kotak Mahindra Mutual Fund bought additional 21,566 shares in the IT company via open market transactions on April 18. With this, Kotak MF’s shareholding in the company stands at 5 percent, up from 4.97 percent earlier.
Infosys: Completed acquisition of oddity. The bluechip IT company has completed acquisition of Germany-based digital experience and marketing agency, oddity.
Suumaya Corporation: Pranir Investments sold its stake in the company. Pranir Investments sold 6.04 percent equity stake in the company via open market transactions on April 18-19. With this, Pranir’s shareholding in the company dropped to 0.03 percent from 6.07 percent earlier.
Ambalal Sarabhai Enterprises: CoSara Diagnostics got permission from Central Drugs Standard Control Organisation. CoSara Diagnostics got permission to manufacture and sell its SARAQ Hepatitis C (HCV) viral load kit as an in vitro diagnostic (IVD) from Central Drugs Standard Control Organisation. CoSara is a joint venture of a subsidiary of Ambalal Sarabhai Enterprises and Co-Diagnostics, Inc, USA.
Wardwizard Innovations & Mobility: Rights issue of the company fully subscribed. The rights issue of the electric two-wheeler maker has got full subscription, where promoters of the company did not participate. The company has plans to utilise the rights issue proceeds for working capital requirement and other corporate general business purposes. The rights issue was opened for subscription on February 7 and closed on March 8.
Everest Kanto Cylinder: Subsidiary signed a joint venture pact to manufacture CNG cylinders in Middle East and North Africa (MENA). Subsidiary EKC International FZE (Dubai) has entered into a joint venture agreement with Dr Mohamed Saad Eldin. The company intends to become the market leader of CNG cylinders manufacturing in MENA region by 2026 leveraging the strong track record and the know-how of EKC International Dubai and the high potential in the Egyptian and African markets.
Ajanta Soya: Board approved sub-division of shares. The company in a BSE filing said the board approved sub-division of existing shares from one share having face value of Rs 10 to five shares with face value of Rs 2 each.
Atul Auto: Joined hands with Valeo and Honda Power Pack Energy India for electric vehicles. The company joined hands with Valeo and Honda Power Pack Energy India for electric vehicles with battery swapping solution. Subsidiary Atul Greentech, engaged in designing and developing solutions for last mile electric mobility for domestic and export markets, would launch the e-vehicle after successful completion of field trials.
Damodar Industries: Rating upgrade by CRISIL. CRISIL has upgraded long term credit rating on the company’s bank loan facilities to BBB-, from BB+ with stable outlook, and short term credit rating to A3, from A4+.
ICICI Securities: Consolidated profit for the quarter grew 3.3 percent YoY; revenue jumped 20.6 percent. Consolidated profit grew by 3.3 percent YoY to Rs 340.3 crore in Q4FY22 impacted by higher finance and employee costs, and charge on impairment on financial instruments. Revenue grew by 20.6 percent YoY to Rs 891.7 crore led by increase in interest income, income from services, and net gain on fair value changes in treasury segment and other investment portfolio.
Moneycontrol News
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