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Stocks in news: TCS, YES Bank, Vedanta, Adani Ports and more

Stocks in news : TCS, YES Bank, Magma Fincorp, CreditAccess Grameen, Vedanta and more

twitter-logoBusinessToday.In | April 13, 2021 | Updated 09:11 IST
Stocks in news: TCS, YES Bank, Vedanta, Adani Ports and more
Stocks to watch today: TCS,YES Bank, Magma Fincorp, CreditAccess Grameen, Sharda Motor, Vedanta, Surya Roshni and more

The market is likely to open flat today as Nifty Futures on Singapore Exchange traded 2 points, or 0.01 per cent, lower at 14,357. On Monday, Sensex closed 1,708 points lower at 47,883 as a record surge in COVID-19 cases in the country spooked investors. Nifty too plunged 524.05 points or 3.53 per cent to finish at 14,310. This was the second-biggest single day fall for Sensex in 2021.

Here are a few stocks which are likely to move in today's trade:

TCS: The company reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore in Q4 from Rs 8,049 crore in the year-ago period. Revenue grew 9.4 per cent YoY to Rs 43,705 crore from Rs 39,946 crore.

YES Bank: Market regulator Sebi has imposed a fine of Rs 25 crore on YES Bank for mis-selling AT-1 bonds in the secondary market few years ago, saying there was a "devious scheme" to dump the bonds on the lender's customers.

Magma Fincorp: The Competition Commission of India (CCI) has cleared buying of majority shareholding in Magma Fincorp by Adar Poonawalla-controlled Rising Sun Holdings and two other individuals.

Adani Ports: S&P Dow Jones Indices said it has removed India's Adani Ports and Special Economic Zone from its sustainability index due to its relationship with Myanmar's military and their alleged human rights abuses.

CreditAccess Grameen: Non-banking financial company CreditAccess Grameen said its collection efficiency has risen to 94 per cent in Q4 from 91 per cent at December-end 2020. The year-on-year and quarter-on-quarter consolidated loan disbursement rose by 42 per cent and 3 per cent, respectively, to Rs 4,726 crore in the March 2021 quarter, the firm said.

Sharda Motor: Automobile parts maker Sharda Motor Industries said it has shut a manufacturing unit at Greater Noida from where it supplied canopies to Maruti Suzuki and Mahindra & Mahindra.

Vedanta: The company has entered into a pact with research institutes for value extraction from bauxite residue. Bauxite residue (red mud) is a by-product generated during processing of bauxite into alumina using the Bayer process. It includes iron, alumina, rare earth elements (REE) and titanium dioxide.

Surya Roshni: Lighting and steel pipe products maker Surya Roshni has bagged an order worth Rs 299 crore for supply of carbon steel line pipes to Numaligarh Refinery for Paradip Numaligarh Crude Oil Pipeline project in Odisha.

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