Stocks To Watch: HCL Tech, Cyient, M&M Financial Services, Tata Motors, Torrent Power, Wipro
Indian equity benchmarks reversed losses made in the first half of the session to snap a two-session losing streak. The S&P BSE Sensex rose 0.8% to 48,080, after dropping by as much as 1.1%. The measure has lost about 9% from its recent peak on Feb. 15, nearing losses read as a technical correction.
Here are the stocks to watch in trade today:
- Tata Motors: Jaguar Land Rover Automotive Plc to suspend production at Castle Bromwich and Halewood factories in U.K.--for a limited period from April 26--due to Covid-19 pandemic-related supply chain disruptions, which have resulted in shortage of semiconductors. Manufacturing will continue at the Solihull plant.
- Wipro: Has pledged to achieve Net-Zero Greenhouse Gas emissions by 2040 in line with the objective of the Paris Agreement to cap temperature rise to 1.5°C. It has also set an intermediate target of a 55% reduction in GHG emissions by 2030 in absolute emission levels compared to its base year of 2016-17 (April-March).
- Torrent Power: Has been awarded a long-term Power Purchase Arrangement for 300 MW capacity of Solar Power Generation. The project will be setup in Gujarat at an estimated cost of Rs 1,250 crore. It is expected to be commissioned within 18 months from PPA date. The PPA term is 25 years from scheduled commercial operation date.
- India Grid Trust: Board has approved public issue of secured, listed NCDs of face of Rs 1,000 each for an amount upto Rs 100 crore with an option to retain oversubscription of upto Rs 900 crore aggregating upto Rs 1,000 crore. The issue will open on April 28 and close on May 5.
- Angel Broking: Board has appointed Narayan Gangadhar as the Chief Executive Officer effective April 26. It has also declared third interim dividend for FY21 at the rate of Rs 7.50 per share.
- Dhanlaxmi Bank: Board to discuss augmentation of the paid-up capital by issue of equity shares on rights basis on April 29.
- Nifty Earnings: HCL Technologies
- Non-Nifty Earnings: GNA Axles, M&M Financial Services, Wendt (India)
Earnings Post Market Hours
Tata Elxsi Q4FY21 (QoQ)
- Revenue up 9% at Rs 518.39 crore Vs Rs 477.09 crore
- Net profit up 9% at Rs 115.16 crore Vs Rs 105.2 crore
- Ebitda up 17% at Rs 168.03 crore Vs Rs 143.6 crore
- Ebitda margin at 32.4% from 30.1%
- Has recommended final dividend of Rs 24 per share for FY21 and one-time special dividend of Rs Rs 24 per share
- The growth was led by America and India with both reporting 21.1% growth while Europe grew by 1.6%
- To appoint Gaurav Bajaj as Chief Financial Officer from August 1, 2021. Bajaj will replace Muralidharan HV who will retire from the position on July 31, 2021
Cyient Q4FY21 (Consolidated, QoQ)
- Revenue up 5% at Rs 1,093.1 crore Vs Rs 1,044.3 crore (Bloomberg Estimate: Rs 1,078.7 crore)
- Net Profit up 8% at Rs 103.10 crore Vs Rs 95.40 crore (Bloomberg Estimate: Rs 105.4 crore)
- Ebit down 8% at Rs 105.50 crore Vs Rs 115 crore (Bloomberg Estimate: Rs 132.8 crore)
- Ebitda Margins at 9.7% Vs 11%
- Recommended final dividend of Rs 17 per share for FY21
Pledge Share Detail
- Adani Green Energy: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 1,000 shares on April 20.
- Jindal Stainless: Cohesion MK Best Ideas Sub-Trust bought 30 lakh shares (0.62%) at Rs 75.55 per share. Kotak Special Situations Fund sold 75 lakh shares (1.54%) at Rs 75.59 per share.
- Apollo Pipes: Ruby Multimedia bought 71,000 shares (0.54%) at Rs 1,015.71 per share.
- Record Date Interim Dividend: Muthoot Finance
- Price Band Revised From 20% To 10%: Kopran, Morepen Laboratories, Supreme Petrochem
- Move Into Short-Term ASM Framework: Emami Paper Mills, Dishman Carbogen Amcis, RattanIndia Enterprises, MPS
- Move Out Of Short-Term ASM Framework: Renaissance Global, Nureca
- Move Into ASM Framework: Orchid Pharma