Stock to Watch Today - Rupeedesk Reports - 13.04.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: TCS, Infosys, HDFC twins, BHEL, NTPC, others in news today.
Tata Consultancy Services: The country's largest IT services exporter has reported slightly lower-than-expected earnings for the March FY23 quarter with consolidated profit growing 5% sequentially to Rs 11,392 crore, led by other income. Consolidated revenue grew by 1.6% QoQ to Rs 59,162 crore with revenue in dollar terms rising 1.7% to $7,195 million and topline growth in constant currency 0.6%. On the operating front, consolidated EBIT rose 1.4% to Rs 14,488 crore with margin flat at 24.5% for the quarter. The company has announced a final dividend of Rs 24 per share.
Infosys: The software solutions provider will be in focus ahead of its March FY23 quarter earnings scheduled to be announced on April 13.
HDFC Bank: The country's largest private sector lender has signed a Master Inter Bank Credit Agreement with Export Import Bank of Korea for a $300-million line of credit. The pact was signed at GIFT City, Gujarat. This will help HDFC Bank raise foreign currency funds which it would extend to Korea-related businesses.
Housing Development Finance Corporation: The Corporation has received approval from Securities and Exchange Board of India (Sebi) for change in control of HDFC Capital Advisors, a co-investment portfolio manager, on account of proposed composite scheme of amalgamation.
BHEL: State-run PSUs Nuclear Power Corporation of India Limited (NPCIL) and Bharat Heavy Electricals (BHEL) have entered into an MoU to jointly pursue business opportunities in the area of nuclear power plants based on pressurized heavy water reactor (PHWR) technology. Under the MoU, BHEL and NPCIL will jointly explore opportunities for development of nuclear power projects with a view to reduce project gestation time.
NTPC: The country's largest power generation company has decided to issue unsecured non-convertible debentures of Rs 3,000 crore on April 17, through private placement at a coupon of 7.35% per annum for a tenor of 3 years, maturing on April 17, 2026. The proceeds will be utilized for funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The debentures are proposed to be listed on NSE.
Maruti Suzuki India: The country's largest car maker and IDFC FIRST Bank have entered into a strategic partnership to offer personalised vehicle financing options, to customers who are looking to purchase Maruti Suzuki vehicles.
Rail Vikas Nigam: The company has received Letter of Award (LOA) from North Western Railway for provision of automatic block signalling on Madar-Sakhun section (51.13 Kms) of Jaipur division over North Western. The order worth Rs 63.08 crore will be executed in 9 months.
Bombay Dyeing & Manufacturing Company: Foreign institutional investor Nexpact Limited has bought 11 lakh equity shares or 0.53% stake in the company via open market transactions at an average price of Rs 76.87 per share.
AU Small Finance Bank: The Reserve Bank of India has approved the reappointment of Sanjay Agarwal as Managing Director and CEO, and Uttam Tibrewal as Whole Time Director of AU Small Finance Bank. Both will be reappointed for three years with effect from April 19.
BL Kashyap and Sons: The civil engineering and construction company has secured new order worth Rs 141 crore, from National High Speed Rail Corporation, for construction of training institute buildings at Vadodara. The total order book as on date stands at Rs 2,522 crore.
Anand Rathi Wealth: The wealth solution firm has recorded a 23.4% year-on-year growth in consolidated profit at Rs 42.7 crore for quarter ended March FY23. Consolidated revenue grew by 27% to Rs 143 crore in the same period. For FY23, profit increased by 33% to Rs 168.6 crore and net revenue grew by 31% to Rs 549 crore compared to previous year.
SRF: The company has commenced production of pharma products at its Dahej plant. In January 2022, it had received board approval for a project to create pharma intermediates plant for undertaking precursor processes for production of pharma products at Dahej. The said project has been capitalized at an aggregate cost of Rs 223 crore.
Rossari Biotech: The chemical manufacturing company has completed acquisition of 100% stake in Tristar Intermediates after buying balance 16% stake. Now Tristar Intermediates is a wholly-owned subsidiary of company.
Anand Rathi Wealth: The wealth solution firm has recorded a 23.4% year-on-year growth in consolidated profit at Rs 42.7 crore for quarter ended March FY23. Consolidated revenue grew by 27% to Rs 143 crore in the same period. For FY23, profit increased by 33% to Rs 168.6 crore and net revenue grew by 31% to Rs 549 crore compared to previous year.
Edvenswa Enterprises: Ace investor Porinjuv Veliyath has purchased 1.3 lakh equity shares in the information technology solutions provider via open market transactions at an average price of Rs 52.18 per share. However, Anjana Bhutna sold 2.55 lakh shares in the company at an average price of Rs 50.18 per share.
RITES: The state-owned company has received an order worth Rs 72 crore from Kerala Infrastructure Investment Fund Board. It will provide project management consultancy work to KIIFB.
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