Stocks To Watch Today: Bank Of India, Eveready, Tatva Chintan, VA Tech Wabag, Veranda Learning

Asian stocks were mixed Tuesday and bonds advanced amid economic threats from China’s Covid outbreak and aggressive Federal Reserve monetary-policy tightening. There is feas of an unprecedented lockdown in Beijing in China as most residents are being tested for the virus.

Equities were volatile in Japan, rose in South Korea and fell in Australia, while U.S. futures fluctuated. Wall Street shares closed a choppy session higher on Monday after Elon Musk agreed to buy Twitter.

The Singapore-traded SGX Nifty, an early barometer of India's benchmark Nifty 50, rose over 0.5% to 17,087 points as of 6:40 am.

Oil held a retreat below $100 a barrel, weighed down by the threat to demand from China. Elsewhere, bitcoin rose above $40,500

Here are the stocks to watch in trade today:

• Bank of India: Approved the capital raising plan upto Rs.2,500 crores by issue of fresh Equity Capital in the form of QIP / FPO / Preferential Issue to increase minimum public shareholding from the present 18.59% to 25% or above.

• VA Tech Wabag: Company’s Russian client Amur Gas Chemical Complex has suspended further activity amid current geo-political uncertainty in the region. However, the company said that it has collected $21.61 million based on the progress achieved from the Engineering and Procurement order.

• Veranda Learning: Approved acquisition of 100% shareholding of Hyderabad based T.I.M.E (Advanced Educational Activities) for Rs 287 crore.

• Zee Learn: Yes Bank has initiated insolvency resolution against the company. For default of Rs 468 crore.

• Cyient: Says CITEC purchase to add to EBIT margin from second year; sees additional revenue of $98 million-$102 million from CITEC buy.

• Hubtown: To consider rights issue, securities issue on April 28.

• Varun Beverages: To considers free shares issue on April 28.

Earnings Post Market Hours

Eveready Industries Q4 FY22 (Consolidated, YoY)

• Revenue fell 11.5% at Rs 241.23 crore Vs Rs 272.63 crore

• EBITDA fell 187% at negative Rs 35.63 crore Vs positive Rs 40.97 crore

• EBITDA Margin -14.77% Vs 15.02%

• Net loss reduced at Rs 38.41 crore Vs Rs 442.53 crore

Tatva Chintan Pharma Chem Q4 FY22 (Consolidated, YoY)

• Revenue fell 9.3% at Rs 98.5 crore Vs Rs 108.6 crore

• EBITDA fell 10.2% at Rs 21.92 crore Vs Rs 24.41 crore

• EBITDA Margin 22.25% Vs 22.48%

• Net profit fell 17.1% at Rs 17.5 crore Vs Rs 21.11 crore

• Recommended final dividend of Rs 2 per share of face value Rs 10

Mahindra CIE Automotive Q4 FY22 (Consolidated, YoY)

• Revenue up 18.2% at Rs 2,588.3 crore Vs Rs 2,189.4 crore

• EBITDA up 6.1% at Rs 296.87 crore Vs Rs 279.79 crore

• EBITDA Margin 11.47% Vs 12.78%

• Net profit up 1,500% at Rs 161.42 crore Vs Rs 10.09 crore. In Q4FY21, the company recognised Rs 142.5 crore as tax expense after the government amended IT Act and barred depreciation on Goodwill to be a deductible expenditure. Consequently, the deferred tax amount increased significantly reducing PAT.

Steel Exchange of India Q4 FY22 (Consolidated, YoY)

• Revenue up 12.2% at Rs 366.86 crore Vs Rs 326.96 crore

• EBITDA fell 34.7% at Rs 28.61 crore Vs Rs 43.81 crore

• EBITDA margin 7.80% Vs 13.40%

• Net profit fell 286% at Rs 112.47 crore Vs Rs 29.11 crore

• Appointed A Suresh Babu as the chief financial officer effective May 1, after Bandi Ramesh Kumar’s resignation.

Tata Investments Q4 FY22 (Consolidated, QoQ)

• Revenue up 92.6% at Rs 17.55 crore Vs Rs 9.11 crore

• EBIT up 257% at Rs 11.18 crore Vs Rs 3.13 crore

• EBIT margin 63.7% Vs 34.4%

• Net profit fell 49% at Rs 20.23 crore Vs Rs 39.73 crore

• Recommended dividend of Rs 55 per share of face value of Rs 10 each.

Earnings To Watch

• Aditya Birla Sun Life AMC

• Atul

• AU Small Finance Bank

• Bajaj Finance

• Gateway Distriparks

• HDFC Life Insurance Company

• IIFL Securities

• KPIT Technolgies

• Macrotech Developers

• Mahindra Logistics

• Aurobindo

• Nippon Life India Asset Management

• Nelco

• Sanofi India

• Schaeffler India

• Tata Coffee

• Tata Teleservices (Maharashtra)

• United Breweries

• UTI Asset Management Company

• VST Industries

Pledged Shares Details

• Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked a pledge of 3.35 lakh shares on April 20.

• Future Retail: Promoter Future Corporate Resources invoked a pledge of 37.99 lakh shares on April 21.

Insider Trades

Bajaj Electricals:

Promoter Group Bajaj Holdings & Investment bought 3.43 lakh shares on April 21.

Promoter Group Jamnalal Sons bought 1.05 lakh shares on April 21.

Promoter Group Pooja Bajaj sold 4.48 lakh shares on April 21.

Offering

Campus Activewear will open its initial public offering with issue size of 4.795 crore shares with price band of Rs 278-292.

Who's Meeting Whom

• Axis Bank: To meet investors and analysts on April 28.

• Castrol India: To meet investors and analysts on May 4.

• Hindustan Unilever: To meet investors and analysts on April 27.

• Tanla Platforms: To meet investors and analysts on May 2.

• Max Ventures: To meet investors and analysts on April 27-28.

• Titan: To meet investors and analysts on May 3.

• Hero MotoCorp: To meet investors and analysts on May 4.

• Escorts: To meet investors and analysts on May 13.

• CEAT: To meet investors and analysts on May 6.

• Dr. Reddy's: To meet investors and analysts on May 19.

Trading Tweaks

• Price Band Revised From 10% To 5%: Jindal Worldwide, Bajaj Hindusthan Sugar

• Record Date Interim Dividend: Muthoot Finance

• Ex-Date Face Value Split: Saregama India

Top Research Reports

• ITC - Sprucing Up D2C Mother & Baby Care Portfolio: Centrum Broking

• ICICI Bank Q4 Review - Pulling Further Into The Lead; Happy Trade-Offs Ahead: HDFC Securities

• Aditya Birla Capital - New CEO To Take Charge Come June: ICICI Securities