HDFC Bank, ICICI Bank, Tejas Networks, Tata Metaliks, PVR, Nykaa, TCS, Zomato, and other stocks in the news
The Indian equity market is likely to open slightly today as SGX Nifty dropped 245 points to 16,935. Equity bankers took two more gains on Friday, dragged down by financial officials such as the SBI and Axis Bank amid weak global signals. Sensex dropped 714 points to end at 57,519 while Nifty dropped 220 points to close to 17,171.
SBI, HUL, and IndusInd Bank were the top keys to the Sensex which dropped to 3.08 percent. M&M, Bharti Airtel, and Maruti were the top Sensex beneficiaries, rising to 0.98 percent.
Here are the stocks that may be left in the news today.
ICICI Bank: The lender reported a 59 percent increase in the personal interest rate of Rs 7,019 crore for the quarter ended March 31, 2022. The interest rate stands at Rs 4,403 crore over the same period last year. In FY22, ICICI Bank’s private profit has grown by 44 percent annually to Rs 23,339 crore from Rs 16,193 crore for the year ended March 31, 2021.
HDFC Bank: The lender has announced dividends of Rs 15.50 or 1,550 percent for the apparent Re 1 value per FY22, which is the highest rupee in the last 11 years. The private equity lender announced shares of Rs 16.50 per share equity in June 2011, the second-highest dividend ever announced since April 2001. HDFC Bank has announced 22 dividends since April 20, 2001, in which, it has announced 21 dividends. , and another was a special gain.
Torrent Power: The company purchased a 50 MW solar power plant from SkyPower Group. It has entered into a shareholding agreement (SPA) with SkyPower Southeast Asia III Investments and SkyPower Southeast Asia Holdings 2 to acquire a 100% stake in Sunshakti Solar Power Projects, a special purpose vehicle using a 50 MW solar power project in Telangana.
Future Retail and Reliance Industries: Future Group proposed Rs 24,713-crore agreement with Mukesh Ambani’s Reliance Industries has been rejected by lenders for beating a company now facing the prospect of a liquidation process. As of legal action on Friday, 69.29 percent of FRL lenders voted against the RIL agreement and 30.71 percent of certified debtors voted in favor of the harvest. In addition, FRL received 85.94% of the shareholders’ votes in favor of the agreement and 14.06 percent of the votes cast against it.
Hindustan Zinc: The mining company has reported an 18 percent annual increase (YoY) in its combined profit of Rs 2,928 crore for the quarter ended March 31, 2022, mainly driven by high prices and high steel prices. The Vedanta Group-owned company had reported a significant profit of Rs 2,481 crore in the past.
Stocks Revenue from operations exceeded 26.6 percent to Rs 8,797 crore in the quarter reported from Rs 6,947 crore on the same stocks of higher zinc earnings and zinc LME prices, as well as favorable exchange rates while partially subdivided by volumes. . . Over the course of the year, prices for zinc and lead LME had risen by 36.5 percent and 15.7 percent, respectively, HZL said in official fulfillment.
Brokerage Choices on stocks: ICICI Securities is bullish on this large stock; here’s why
Nykaa: Indian e-commerce behemoth Nykaa has announced investments in three companies today namely Earth Rhythm, Nudge Wellness, and KICA. The company acquired 18.51% of the Earth Rhythm beauty product at Rs 41.65 crore, and 60% on Nudge Wellness at Rs 3.6 crore. Nykaa also received the Athleisure KICA version for Rs 4.51 crore.
Zomato: The food delivery company said in a blog post it aims to reduce the use of plastic. Food processing company chief executive Deepinder Goyal said on our blog they are delivering 100 percent plastic delivery since April. “From now on, all food you buy with Zomato will be 100 percent neutral, which means we will also be voluntarily digesting more than 100 percent of all the plastic used in your pocket,” he said.
TCS: India’s largest IT company Tata Consultancy Services (TCS) has launched its fourth global innovation center – TCS Pace Port – in Pittsburgh, United States. The center is located on the Carnegie Mellon University campus. TCS said the center aims to address the most important business challenge by integrating an ecosystem for local beginners, entrepreneurs, students, and teachers. He added that TCS Pace Port will focus exclusively on establishing manufacturing sectors and services with a greater focus on the Internet of Things (IoT) and AI.
PVR: BlackRock Inc purchased 37,613 stocks of equity multiplex chain operator stocks through open markets on April 21. With this, its share in the company has risen to 5.01 percent, up from 4.95 percent.
Nazara Technologies: The company has completed the acquisition of a stake in Paper Boat Apps Private Limited for approximately R10 million. Nazara Technologies arm Nodwin Gaming bought a 35 percent stake in Brandscale Innovations for Rs 10.01 crore.
Tata Metaliks: Tata Metaliks recorded a 30 percent annual decline in Q4FY22 profits by Rs 52.5 crore due to high input costs. However, revenue increased by 22 percent to Rs 808 crore from the corresponding quarter of the final income.
Tejas Networks: Manufacturer of telecommunications and network products reported a loss of Rs 49.62 crore in Q4 against a profit of Rs 33.55 crore in the corresponding period of final revenue due to a small increase in revenue. Revenue decreased by 37 percent to Rs 126.5 crore compared to Rs 201.5 crore over the same period last year due to a shortage of chips worldwide. Consequently, revenues increased by 18 percent.
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