Equity benchmarks started the week on a negative note on Monday, falling for the second straight session amid weak global cues. Sensex fell 617 points to 56,579 and Nifty ended 218 points lower at 16,953. Tata Steel, Tech Mahindra and NTPC were the top Sensex losers, falling up to 4.47 per cent. HDFC Bank, ICICI Bank and HDFC were the top Sensex gainers, rising up to 0.75 per cent. Of 30 Sensex stocks, 22 ended in the red. Market cap of BSE-listed firms fell to Rs 269.64 lakh crore. Here are the stocks that are likely to remain in news today.
Mindtree: The global technology services company has partnered with Sapiens International Corporation, a software solutions provider for the insurance and banking industries to help insurance companies drive digital transformation, the companies said on Monday. "The combination of Sapiens' industry-leading, cloud-native, core suite of banking and insurance applications, and Mindtree's deep domain knowledge and expansive delivery capabilities will enable insurance companies to increase scale, speed-to-market, and customer satisfaction," the statement said.
JSW Steel: The firm said called a report about bidding for state-owned helicopter service provider Pawan Hans as "baseless" and stated that it "has no substance." "It is hereby denied that JSW Steel Ltd submitted bid for acquisition of Pawan Hans Ltd and the company has no interest in this asset. The media report is baseless and has no substance," the steel company said in a regulatory filing.
Borosil Renewables: The firm announced that its board has approved buying of 100 percent stake in Interfloat Group, Europe's largest manufacturer of solar glass. The company consists of GMB Glasmanufaktur Brandenburg GmbH (GMB), located in Tschernitz, Germany, and Interfloat Corporation, based in Ruggell, Liechtenstein. With its acquisition of the Interfloat Group, BRL's solar glass output will grow to 750 TPD from the current 450 TPD, an increase of 66 per cent, the company said.
Tech Mahindra: Life Insurance Corporation of India bought an additional 85,000 equity shares in the firm via open market transactions on April 22, raising its stake to 5 percent, up from 4.99 percent earlier.
Steel Exchange India: The company logged a 286 percent year-on-year rise in profit at Rs 112.5 crore led by tax write-back in the quarter ended March 2022. Revenue rose 12 percent to Rs 367 crore compared to the year-ago quarter.
Lemon Tree Hotels: The company has inked a licence agreement for a 60-room hotel at Kharar, near Chandigarh under the brand 'Lemon Tree Hotel'. The hotel is expected to be operational by November, 2025. Its subsidiary Carnation Hotels will operate this hotel.
Mahindra CIE Automotive: Profit zoomed 1,499 percent year-on-year to Rs 161.43 crore due to lower tax expenses and higher revenue growth. Topline rose 18.2 percent to Rs 2,588.4 crore compared to the corresponding period last fiscal.
Religare Enterprises: The NBFC said it has paid Rs 5.41 crore to market regulator Sebi to settle its past cases. In order to settle another legacy issue and keep REL growing as per its plans, it had submitted an application for settlement under the SEBI (Settlement Proceedings) Regulations, 2018 without admission or denial of SEBI's findings, the company said.
The said application along with the settlement terms proposed by the company were examined by SEBI which having considered the facts and circumstances of the case, approved that the specified proceedings may be settled upon payment of Rs 5.41 crore, it said.
Eveready Industries India: The company posted a consolidated loss of Rs 38.41 crore in Q4 compared to loss of Rs 442.53 crore in the corresponding period last fiscal. However, revenue fell 11.5 percent year-on-year to Rs 241.24 crore during the quarter. Hubtown: The company said the board on April 28 will consider the raising of funds by way of a rights issue.
Avantel: The company said its board would meet on May 6 to consider dividend and bonus issue, along with the March quarter earnings.
Aarti Industries: Life Insurance Corporation of India bought an additional 2.24 lakh equity shares in the firm via open market transactions on April 22. LIC's stake in the company now stands at 5.03 percent against 4.97 percent earlier.
Gujarat Mineral Development Corporation: The company logged a consolidated profit at Rs 177 crore for the quarter ended March 2022 as against a loss of Rs 184.64 crore in the same period last year, driven by topline. Revenue climbed 87 percent year-on-year to Rs 1,057.3 crore.
Bank of India: The bank's board has approved raising of capital up to Rs 2,500 crore by issue of fresh equity capital. The objective of capital raising plan is to increase the minimum public shareholding from the present 18.59 percent to 25 percent in order to comply with the minimum public shareholding requirements.
Tatva Chintan Pharma Chem: Tatva Chintan Pharma reported a 17 percent year-on-year fall in net profit at Rs 17.51 crore for March 2022 quarter, led by lower topline and operating income. Revenue slumped 9.3 percent to Rs 98.53 crore in Q4.
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