Buzzing Stocks | Infosys, Wipro, Gillette India, NHPC, others in news today
Wipro: Company to increase headcount in Brazil. The company will be hiring more than 500 new professionals over the next fiscal year in Brazil, to support its growth in delivering cloud solutions to clients. The stock has gained 27 percent in the past one year but is down 6 percent in the past one month.
Infosys: Launched metaverse foundry. The second-largest IT company has launched metaverse foundry to ease and fast track enterprises' exploration of the metaverse, including virtual and augmented environments, for their customers, workplace, products and operations. Infosys metaverse foundry is an integral part of company's Living Labs that's driving the digital innovation agenda for enterprises racing to adapt to emerging priorities and market trends. The stock has generated returns of 32 percent during the past one year.
Gillette India: LIC bought shares. Life Insurance Corporation of India bought 2,000 equity shares in the company via open market transactions on February 23. With this, LIC's stake in the company stands at 5 percent now, up from 4.99 percent earlier. The past one year has seen the stock depreciate by 11 percent while it has declined 4 percent in the past one week.
NHPC: Facility Agreement with HDFC Bank signed. The firm has signed a Facility Agreement with HDFC Bank, to securitise the return on equity of Chamera-I power station with 540 MW capacity for a tenor of 10 years. The amount of securitisation facility is Rs 1,016.39 crore at 5.24 percent per annum discounting rate linked with three months treasury bills. The stock has experienced volatility in recent times and has declined 9 percent in the past one week but has generated returns of 15 percent in the past year.
Linde India: Profit rises 19.4 percent YoY; Revenue zooms 35.5 percent. The industrial gases company clocked 19.4 percent year-on-year growth in consolidated profit at Rs 67.8 crore for the quarter ended December 2021. Revenue during the same period grew by 35.5 percent to Rs 644.1 crore YoY due to growth 114 percent in revenues from its Project Engineering business and 13 percent growth in Gas business. The firm said the board has declared a total dividend of Rs 13.50 per share for the year ended December 2021. The stock has appreciated by 89 percent in the past one year and is trading flat in the past one month.
KSB: Profit is up 23 percent YoY; Revenue is higher by 20 percent. Profit grew at a healthy pace, rising 23.1 percent year-on-year to Rs 39.4 crore for the quarter ended December 2021 aided by higher other income and lower depreciation. Revenue grew by 20.2 percent to Rs 444.6 crore during the same period aided by growth in its pumps business. The dividend for the year ended December 2021 has been declared at Rs 12.50 per share by the pump manufacturer. The stock has generated 39 percent returns during the past one year but is down 23 percent in the past one month.
Seacoast Shipping Services: To form a JV with Gujarat government. The Gujarat government is ready to work with the company in a joint venture. Hence, the firm has decided to enter into an agreement with the government to process the said joint venture. The stock has not been performing well and has declined 89 percent in the past one year and by 15 percent in the past one week.
Hazoor Multi Projects: Bagged contract from Gayatri Projects. The company has bagged a contract from Gayatri Projects worth Rs 303 crore for completion of balance work of Chainage in Ahmednagar, Maharashtra. The stock has appreciated 49 percent in the past 3 months but is down 5 percent in the past one week.
Cupid: Received a Purchase Order from UNFPA. The firm has received a purchase order from United National Population Fund (UNFPA) for supply of Male condoms worth Rs 4.25 crore and water-based lubricant worth Rs 1.01 crore. The stock has lost 11 percent in the past one year and is down 8 percent in the past one week.
Arihant Capital Markets: Board to consider payment of interim dividend and sub-division of shares. The board members on March 3, will consider an interim dividend for the financial year 2021-22 and sub-division of face value of equity shares of the company from Rs 5 per share to Re 1 per share. The stock is trading higher by 123 percent in the past 3 months and is up 33 percent in the past one month.
Vesuvius India: Profit declines 19 percent YoY; Revenues rises 10.4 percent. Net profit for the December 2021 quarter declined 19 percent year-on-year to Rs 13.14 crore impacted by higher raw material cost and employee expenses, but revenue increased 10.4 percent to Rs 259 crore compared to year-ago period. The firm has declared dividend at Rs 8 per share for the financial year ended December 31, 2021. The stock has been facing negative sentiments for the past one year as it has lost 7.7 percent while in the past one week the stock has dipped 6.8 percent.
