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Stocks in News Today

April 22, 2022

Tata Communications: Profit for Q4FY22 rises 23.3 percent YoY; revenue grows 4.6 percent. Profit in Q4FY22 grew by 23.2 percent YoY to Rs 369 crore on higher other income. Revenue grew by 4.6 percent to Rs 4,263 crore in same period driven by data services segment, which contributed the most to revenue. The board has recommended a dividend of Rs 20.7 per share for the year, as a result of the company reporting strong profitability.

CRISIL: Profit increased by 45.6 percent on year; revenue grew by 20.1 percent. Profit for the quarter ended March 2022 increased by 45.6 percent YoY to Rs 121.6 crore on strong revenue growth. Income from operations for the quarter grew by 20.1 percent to Rs 595 crore YoY. The board approved the payment of interim dividend of Rs 7 per share for the financial year ending March 2022.

Paytm: Canada Pension Plan Investment Board (CPPIB) has increased its stake in Paytm from 1.57% to 1.71% in the quarter ended March 2022.

ITC: ITC to acquire a 10.07% stake in Blupin Technologies Pvt. Ltd.

HCL Technologies: Profit rises 4.4 percent QoQ; revenue grows by 1.2 percent sequentially. The IT services company recorded 4.4 percent sequential growth in profit at Rs 3,593 crore and 1.2 percent QoQ growth in revenue at Rs 22,597 crore, but earnings before interest & tax fell 4.4 percent QoQ to Rs 4,069 crore.

ICICI Lombard General Insurance Company: Profit for Q4FY22 falls 9.6 percent on year; net premium earned jumped 27 percent. The company reported 9.6 percent year-on-year decline in profit at Rs 312.5 crore, but net premium earned during the quarter jumped 27 percent to Rs 3,318 crore and total income grew by 33 percent to Rs 4,636 crore from a year ago.

TVS Motor Company: To make additional investment in Norton Motorcycle. The company announced an additional investment of 100 million pound in Norton Motorcycle, Britain’s most iconic sporting motorcycle brand. Norton Motorcycle was acquired in April 2020.

L&T Technology Services: Profit for Q4FY22 increased 5.3 percent QoQ; revenue rises 4.1 percent. The IT company clocked 5.3 percent sequential growth in profit at Rs 262 crore on better EBIT that grew by 4.1 percent with flat margin at 18.6 percent QoQ, while revenue increased 4.1 percent to Rs 1,756.1 crore compared to previous quarter.

Windlas Biotech: ICICI Prudential MF acquired additional stake. ICICI Prudential Mutual Fund acquired 32,871 shares in the company via open market transactions on April 19. With this, its shareholding in the company has increased to 7.26 percent from 7.11 percent earlier.

JSW Energy: Subsidiary to set up 1,500 MW hydro pumped storage project in Telangana. Subsidiary JSW Neo Energy is going to set up 1,500 MW capacity of hydro pumped storage project (PSP) – Komoram Bheem Pumped Storage Project – in Telangana.

3i Infotech: Signed a Rs 12 crore deal with a leading insurance company in India. The IT company has signed a Rs 12 crore digital BPS transformational deal with a leading insurance company in India.