Stocks In the News: Check out the companies making headlines before the opening bell.
PSU Stocks in focus ahead of LIC listing. Shares of PSU stocks will be under focus ahead of the Life Insurance Corp of India’s listing today. The grey market premium trading at a discount of Rs 30 a share. LIC likely to list flat to negative on exchanges amid volatility in the global equity markets, analysts said.
DGCA finds Indigo handling of special child inappropriate. Shares of Interglobe Aviation Ltd will be in focus after the firm said it got DGCA communications on handling of special child at Ranchi Airport. DGCA prima facie found Indigo’s handling of special child at Ranchi Airport inappropriate. DGCA will issue a show-cause notice to Indigo to explain. The firm said it will respond the matter in due course.
Aditya Birla Capital say independent committee looking into whistle-blower complaint did not find merit. Aditya Birla Capital said on exchanges that the firm has received a whistleblower complaint where allegations were made against Aditya Birla Sun Life and employees. The firm said an independent committee investigating the complaint did not find any merit in any allegations. It added that the complaint did not level allegations against CEO Ajay Srinivasan. Srinivasan had express interest in taking on a new role within the group leading to him to stepping down as CEO of Aditya Birla Capital. The firm also said that there have been no employee exist in Aditya Birla Capital and Aditya Birla Sun Life AMC due to the allegations.
Raymond reports profit of Rs265 crore in March quarter. Raymond Ltd said on exchanges that it reported a profit of Rs 265 crore against Rs 59 crore a year ago. Revenue for the quarter rose 44 percent year-on-year to Rs 1958 crore. EBITDA was up 84 percent YoY to Rs 285 crore.
VIP Industries reports Rs 12 crore profit in March quarter. VIP Industries said it reported a profit of Rs 12 crore in the March quarter from a loss of Rs 4 crore a year ago. Revenue for the quarter stood at Rs 356 crore versus Rs 243 crore last year. EBITDA was at Rs 33 crore against Rs 3 crore.
Max Healthcare approves merger of units Alps Hospital, Max Hospitals. Max Healthcare said on exchanges that its board approved merger of its wholly owned subsidiaries of Alps Hospital and Max Hospitals. The company said the Scheme is subject to necessary statutory and regulatory approvals under applicable laws, including approval of the shareholders of the Transferor and Transferee Companies and approval of the Hon’ble National Company Law Tribunal.
GlaxoSmithKline Pharma reports loss for March quarter. GlaxoSmithKline Pharmaceuticals on Monday reported a Rs 55 crore consolidated net loss from continuing operations for the fourth quarter. The drug firm had reported a net profit of Rs 4 crore for the January-March quarter of the 2020-21 fiscal. Revenue from operations rose to Rs 810 crore for the fourth quarter compared to Rs 744 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a regulatory filing.
Kajaria Ceramics expansion of Rajasthan, Andhra Pradesh facility completed. Kajaria Ceramics Ltd said in a notice to exchanges that the expansion of Gailpur, Rajasthan and Chittoor, Andhra Pradesh manufacturing facility has completed and have commenced the commercial production from May 16. The Rajashtan faciltiy capacity has increased to 4.2MSM per annum for ceramic floor tiles while Chittoor facilty increased to 3.8MSM per annum for manufacturing of vitrified tiles.
SJVN to develop power project worth Rs 4900 crore in Nepal. State-owned SJVN Ltd will develop another hydro power project Arun-4 worth Rs 4,900 crore in Nepal. A Memorandum of Understanding (MoU) for the development of the 490 MW Arun-4 hydro electric project in Nepal has been signed in Lumbini, Nepal in the presence of Prime Minister Narendra Modi and Prime Minister of Nepal Sher Bahadur Deuba, the company said in a statement.
KEC International wins order worth Rs 1150 crore. KEC International won orders worth Rs 1150 crore across its various businesses. The company said the diverse orders in the Civil business, further strengthen our portfolio diversification and reaffirm our confidence in the continued strong growth of this business going forward.
IRB Infra April gross toll collection at Rs 327 crore. IRB Infrastructure on exchanges said its April gross toll collections stood at Rs 327 crore versus Rs 306.66 crore in March. The gross toll collections in April last year was at Rs 196.64 crore. The firm said on April 21 the toll collection was suspended on account of farmers agitation.
Moneycontrol News
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