Stock to Watch Today - Rupeedesk Reports - 22.04.2022
Buzzing Stocks | HCL Tech, L&T Technology, Tata Communications, and others in news today
Results on April 22: Aditya Birla Money, Hindustan Zinc, Sundram Fasteners, and Tata Metaliks to declare results on April 22. Others releasing earnings include Tejas Networks, MMTC, Wendt (India), Bhakti Gems and Jewellery, Eiko Lifesciences, Jhandewalas Foods, Khaitan Chemicals & Fertilizers, Quest Capital Markets, RS Software India, and Sharad Fibres & Yarn Processors. Results on April 23: ICICI Bank, Bhansali Engineering Polymers, Indag Rubber.
Tata Communications: Profit for Q4FY22 rises 23.3 percent YoY; revenue grows 4.6 percent. Profit in Q4FY22 grew by 23.2 percent YoY to Rs 369 crore on higher other income. Revenue grew by 4.6 percent to Rs 4,263 crore in same period driven by data services segment, which contributed the most to revenue. The board has recommended a dividend of Rs 20.7 per share for the year, as a result of the company reporting strong profitability.
CRISIL: Profit increased by 45.6 percent on year; revenue grew by 20.1 percent. Profit for the quarter ended March 2022 increased by 45.6 percent YoY to Rs 121.6 crore on strong revenue growth. Income from operations for the quarter grew by 20.1 percent to Rs 595 crore YoY. The board approved the payment of interim dividend of Rs 7 per share for the financial year ending March 2022.
HCL Technologies: Profit rises 4.4 percent QoQ; revenue grows by 1.2 percent sequentially. The IT services company recorded 4.4 percent sequential growth in profit at Rs 3,593 crore and 1.2 percent QoQ growth in revenue at Rs 22,597 crore, but earnings before interest & tax fell 4.4 percent QoQ to Rs 4,069 crore. The dollar revenue growth was half a percent QoQ at $2,993 million and revenue in constant currency showed 1.1 percent increase QoQ. The company reported total contract value (TCV) of new deal wins at $2,260 million for Q4, registering 6 percent QoQ growth, and has declared a dividend of Rs 18 per share.
ICICI Lombard General Insurance Company: Profit for Q4FY22 falls 9.6 percent on year; net premium earned jumped 27 percent. The company reported 9.6 percent year-on-year decline in profit at Rs 312.5 crore, but net premium earned during the quarter jumped 27 percent to Rs 3,318 crore and total income grew by 33 percent to Rs 4,636 crore from a year ago. Even operating profit surged 29 percent YoY to Rs 1,009.6 crore during the quarter.
TVS Motor Company: To make additional investment in Norton Motorcycle. The company announced an additional investment of 100 million pound in Norton Motorcycle, Britain's most iconic sporting motorcycle brand. Norton Motorcycle was acquired in April 2020.
L&T Technology Services: Profit for Q4FY22 increased 5.3 percent QoQ; revenue rises 4.1 percent. The IT company clocked 5.3 percent sequential growth in profit at Rs 262 crore on better EBIT that grew by 4.1 percent with flat margin at 18.6 percent QoQ, while revenue increased 4.1 percent to Rs 1,756.1 crore compared to previous quarter. North America, Europe and India supported revenue growth, but Rest of World segment reported 1.6 percent sequential decline in Q4. It has bagged $100 million plus electric air mobility programme from Jaunt Air Mobility. It will open an engineering and R&D centre in Québec Province for the next-gen electric aircraft manufacturer to provide engineering services for the Jaunt Journey eVTOL (electric Vertical Takeoff and Landing) air taxi.
Windlas Biotech: ICICI Prudential MF acquired additional stake. ICICI Prudential Mutual Fund acquired 32,871 shares in the company via open market transactions on April 19. With this, its shareholding in the company has increased to 7.26 percent from 7.11 percent earlier.
Cyient: Profit for the quarter rises 17 percent QoQ; revenue declines 0.2 percent. The company recorded 17 percent sequential growth in profit at Rs 154.20 crore for the quarter ended March 2022 driven by higher other income, but revenue declined 0.2 percent QoQ to Rs 1,181.20 crore.
Sasken Technologies: Profit for the quarter declined 10.6 percent; revenue grew 2.7 percent. Profit in Q4FY22 declined 10.6 percent sequentially to Rs 26.87 crore as EBITDA fell by 1.6 percent QoQ to Rs 29.36 crore, but revenue grew by 2.7 percent to Rs 109.2 crore compared to previous quarter. The company declared a final dividend of Rs 13 per share for FY22.
Dixon Technologies: LIC bought additional shares via open market. Life Insurance Corporation of India bought additional 43,986 shares in the company via open market transactions. With this, LIC's shareholding in the company stands at 5.05 percent, up from 4.98 percent earlier.
Rallis India: Company incurred a loss for Q4FY22; revenue grows 7.7 percent. The Tata Group company posted a loss of Rs 14.15 crore in Q4FY22 against profit of Rs 8.12 crore in same period last year despite 7.7 percent growth in revenue, dented by loss at operating level. Topline increased to Rs 507.5 crore in the quarter ended March 2022, against Rs 471.3 crore in the corresponding period last fiscal.
JSW Energy: Subsidiary to set up 1,500 MW hydro pumped storage project in Telangana. Subsidiary JSW Neo Energy is going to set up 1,500 MW capacity of hydro pumped storage project (PSP) - Komoram Bheem Pumped Storage Project - in Telangana. The company has entered into a memorandum of understanding with the state government for the project. With the project, the company has tied up resources for 5 GW hydro PSPs with the governments of various states (Maharashtra, Chhattisgarh, Telangana, and Rajasthan).
Mercury Metals: Acquired Kavit Infra Project Pvt Ltd. The company has acquired 100 percent stake in Kavit Infra Project engaged in infrastructure and development segment, and is in the process to acquire land for future projects.
3i Infotech: Signed a Rs 12 crore deal with a leading insurance company in India. The IT company has signed a Rs 12 crore digital BPS transformational deal with a leading insurance company in India. The contract is spread over three years and the process will be delivered from their new centre at Hyderabad.
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