Stock to Watch Today - Rupeedesk Reports - 11.07.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Stocks to Watch Today | TCS, HDFC, Dr Reddy's Laboratories, Avenue Supermarts and others in news today.
Results on July 11: 5paisa Capital, Spandana Sphoorty Financial, Mishtann Foods, Nakoda Group of Industries, Sahara One Media & Entertainment, and Star Housing Finance will be in focus ahead of quarterly earnings on July 11.
Tata Consultancy Services: The leading IT company reported a 16.2 percent year-on-year growth in revenue at Rs 52,758 crore and revenue in constant currency grew 15.5 percent for the quarter ended June 2022. Profit during the quarter rose 5.2 percent on-year to Rs 9,478 crore, but operating margin at 23.1 percent contracted 2.4 percent YoY.
HDFC: The Pension Fund Regulatory and Development Authority (PFRDA) has approved the merger of subsidiaries HDFC Investments Limited and HDFC Holdings Limited, with HDFC. The PFRDA has also given the green light to the merger of HDFC with HDFC Bank.
Dr Reddy's Laboratories: The pharma major has launched Fesoterodine Fumarate extended-release tablets in the US market, which are used in the treatment of certain bladder related problems. This drug is a therapeutic generic equivalent to Toviaz brand which had US sales of approximately $211 million MAT for the most recent twelve months ending in May 2022, according to IQVIA.
Zydus Lifesciences: Zydus has launched the molecule Sitagliptin in India under the brand names Sitaglyn and Siglyn to address Type 2 diabetes. Sitagliptin is the gold standard in the Dipeptidyl peptidase 4 inhibitor (DPP4i) category with over 62 share of the global market.
Avenue Supermarts: The D-Mart operator has clocked a massive 490 percent year-on-year growth in standalone profit at Rs 680 crore for the quarter ended June 2022, backed by healthy topline and operating performance but on a low base as the year-ago quarter had impacted by second Covid wave, while the sequential increase in profit was nearly 46 percent. Standalone revenue from operations grew 95 percent year-on-year to Rs 9,807 crore in quarter ended June 2022, and the growth compared to previous quarter was 14 percent.
Dilip Buildcon: Subsidiary 'Bangarupalem Gudipala Highways Limited' has received the financial closure letter from the National Highways Authority of India for Bangalore-Chennai Expressway in Andhra Pradesh under Bharatmala on Hybrid Annuity Mode (Phase II/Package III). The project cost is Rs 1,060 crore. In addition, Dilip Buildcon has declared as L-1 bidder for water supply scheme tender by Madhya Pradesh Jal Nigam Maryadit, Bhopal. The said EPC project worth Rs 1,400.04 crore included trial run and operation & maintenance of the entire water supply scheme for 10 years in Madhya Pradesh.
Power Grid Corporation of India: Power Grid declares as successful bidder for inter-state transmission system in MP. The company is declared as the successful bidder under Tariff based competitive bidding to establish inter-state transmission system for "transmission system for evacuation of power from Neemuch SEZ" on build, own operate and transfer (BOOT) basis. The project comprises establishment of two 400kV DIC transmission lines passing through Rajasthan and Madhya Pradesh, a new 400/220kV pooling substation at Neemuch (Madhya Pradesh) and 400kV bay extension works.
AIA Engineering: SBI Mutual Fund acquired 2.39 lakh equity shares or 0.25 percent stake in the company through open market transactions on July 7. With this, SBI MF stake in the company increased to 5.21 percent, up from 4.96 percent earlier.
Crompton Greaves Consumer Electricals: SBI Mutual Fund has offloaded 2.99 lakh equity shares or 0.047 percent stake in the company via open market transactions on July 7. With this, SBI MF reduced stake in the company to 3.658 percent, down from 3.7 percent earlier.
Lemon Tree Hotels: Lemon Tree Hotels signs License Agreement for new hotel in Goa. The hotel chain operator has signed a License Agreement for a 51 room hotel at Anjuna, Goa. The hotel is expected to be operational by March, 2023. Its hotel management subsidiary Carnation Hotels will be operating this hotel.
Bank of India: The Reserve Bank of India has imposed a penalty of Rs 70 lakh on Bank of India as the bank had failed to 1) allot Unique Customer Identification Code (UCIC) to all its individual customers, thereby contravening the RBI (Know Your Customer) Direction, and 2) comply with the prescribed timeline for allotment of UCIC. The aforesaid penalty is to be paid within 14 days of receipt of the order.
Federal Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 5.72 crore on the private sector lender for non-compliance with the provisions related to financial services provided by the bank. This action is based on the deficiencies in regulatory compliance.
Marksans Pharma: The company said the board of directors have approved the proposal of share buyback up to Rs 60 crore. The maximum share buyback price is Rs 60 per share.
Ugro Capital: The company said the board of directors will hold a meeting on July 13 to consider raising of funds by way of issuance of non-convertible debentures on private placement basis.
KPI Green Energy: Nirav Girishbhai Raval has tendered his resignation from the position of the Chief Financial Officer of the company, due to personal reasons. Raval resigned as CFO with effect from July 8.
Hindustan Aeronautics: The company and Safran Helicopter Engines have signed an agreement to create a new joint venture. The joint venture will develop helicopter engines. The both partners will extend their long-lasting partnership by establishing a new aero-engine company in India.
City Union Bank: The bank has entered into a Bancassurance Agreement with TATA AIA Life Insurance and Shriram General Insurance. Both insurance companies will distribe their products through the branch network of the bank.
ANG Lifesciences India: The company has received the in-principle approval from the BSE, for issue and proposed allotment of bonus equity shares in the ratio of 1:4. The company will issue up to 25,91,657 bonus equity shares.
Insecticides (India): The company has received the patent for an invention - Novel Fungicidal Carbamate Compounds, from the Government of India, the Patent Office. The patent is for the term of 20 years from January 29, 2018.
RailTel Corporation of India: The company said the board has recommended a final dividend of Rs 0.65 per share for the financial year 2021-22. This final dividend is in addition to interim dividend of Rs 1.75 per share already paid by the company for the same year.
Goa Carbon: The company announced resumption of operations at its Bilaspur unit, Chhattisgarh. After preliminary heat up and commencement of feeding of raw material, normal production is likely to resume shortly.
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