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Stocks in News

April 18, 2022

Tata Steel: The company’s board will consider the option of a stock split at its meeting on May 3.

BPCL: BPCL will invest around ₹200 crores this fiscal year to set up 100 fast electric vehicle charging corridors.

HDFC Bank: The private lender’s profit grew 23% on lower provisions. Profit in Q4 grew by 22.8% to Rs 10,055.2 crore YoY as provisions declined 29.4% in the same period, while net interest income rose 10.2% to Rs 18,873 crore, with credit growth of 20.8% and deposits growth of 16.8% YoY.

Infosys: The IT major reports lower than expected earnings. The country’s second-largest IT services company’s net profit fell 2.12% to Rs 5,686 crore, against the Rs 5,968-crore forecast. Revenue growth in constant currency terms stood at 1.2%. EBIT margin stood at 21.5% against 23.5% in Q3. Revenue growth for the fiscal ended March stood at 20.3%. Infosys had guided for 19.5-20% revenue growth for FY22. For 2022-23, it expects growth to be at 13-15%. Attrition jumps 27.7%.

Lupin: Lupin has got the USFDA approval for an anti-depressant. The company has received approval from the US health regulator for Desvenlafaxine extended-release tablets 25 mg. With this, the company will market its generic equivalent of Pristiq extended-release tablets of PF PRISM C.V. It will manufacture this drug at its Goa facility.

Mahindra & Mahindra: The company has increased the price of its vehicles by 2.5 percent. The revision is a result of the continuous increase in prices of key commodities such as steel, aluminium and palladium, M&M has said.

Salzer Electronics: Salzer Electronics has got patents for its integral cam-operated rotary switches from the Patent Office, India. This patent is for a duration of 20 years, ending 2031.

Windlas Biotech: South Africa has allowed Windlas Biotech to manufacture and sell its product after the company received a certificate of good manufacturing practices (GMP) from the South African Health Products Regulatory Authority.

TVS Motor: TVS Motor has bought a stake in Roppen Transportation. The two-and-three-wheeler maker acquired a 1.81 percent stake in Roppen Transportation Services (Rapido).

UltraTech Cement: UltraTech Cement Middle East Investments, a wholly-owned subsidiary of UltraTech Cement in UAE, has invested $101 million to acquire a 29.39 percent stake in RAK Cement Co for white cement and construction materials PSC.

Alkem Laboratories: Alkem Lab Taloja Facility cleared by US health regulator. The pharma company’s Taloja unit has been cleared by the US health regulator as the unit didn’t receive

Tata Power: BlackRock Real Assets, together with Mubadala, will invest Rs 4,000 crore ($525 million) for a 10.53 percent stake in the company’s subsidiary Tata Power Renewables. The investment has taken a base equity valuation of the subsidiary to Rs 34,000 crore.

Jubilant Ingrevia: Jubilant Ingrevia received a CDMO contract worth Rs 270 crore in specialty chemicals business from an “international customer”. The contract is for a period of three years.