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Stocks in the news: Tata Elxsi, L&T Infotech, ACC, Eveready Industries and Tata Steel – Economic Times

Nifty futures on the Singapore Exchange traded 121.5 points, or 0.72 per cent higher at 17,051.50, signaling that Dalal Street was headed for a positive start on Wednesay. Here are a dozen stocks which may buzz the most in today’s trade:


Tata Elxsi, ICICI Sec, :
Tata Elxsi, ICICI Securities, Angel One, Glenmark Life Sciences, JTL Infra, Reliance Industrial Infra, Add-Shop e-retail and Banking Services are the companies that will announce their March quarter results today.

Tata Steel: The homegrown steel major has inked a pact with Australia-based mining services provider Thiess to offer mine technical services in areas such as exploration, resource evaluation and mine planning in India and abroad.

Larsen & Toubro Infotech: The mid-tier IT company reported a 16.8 per cent jump in March quarter net profit to Rs 637.5 crore, driven by healthy growth in its revenue on higher deal flow. The company had recorded a net profit of Rs 545.2 crore a year ago.

ACC: The cement maker reported a 29.5 per cent decline in consolidated net profit to Rs 396.33 crore for the first quarter ended March 2022, mainly due to the rise in fuel cost. The company had posted a profit of Rs 562.59 crore a year ago.

Industries: The batteries and flashlights maker said Burman Group has increased its holding in the company to 20.18 per cent through acquisition of shares from the open market. Burman Group entities acquired 78,000 shares that account for 0.11 per cent stake in the company.

Max Ventures and Industries: The holing companysaid its board has approved amalgamation of the company with its wholly-owned subsidiary Max Estates Ltd as a part of group’s restructuring exercise and to focus completely on real estate business.

Kolte-Patil Developers: The realty firm said its sales bookings rose 45 per cent to a record Rs 1,739 crore during the last fiscal year on higher volumes as well as average price realisation. Its sales bookings stood at Rs 1,201 crore in the 2020-21 financial year.


Cigniti Technologies:
The IT firm has bagged a deal with an annual contract value of over $10 million (Rs 76 crore) from one of the largest and oldest financial services firm in the US to accelerate the digital transformation of the firm.

Indian Hotels Company: The largest hospitality company announced signing an agreement to set up another Taj hotel in the Chennai city, as part of plans to strengthen its presence in key markets across the country.

Techno Engineering: The construction and engineering informed the bourses about their board meeting scheduled on April 30, Saturday to consider and approve the proposal of sub-division/split of company’s existing equity shares.

Mahindra Lifespace Developers: The company’s subsidiary Mahindra World City Developers has received a Rs 102 crore income tax notice. The amount included interest of Rs 43.1 crore against the return of income filed for the assessment year 2016-17 by Mahindra World.

Insecticides (India): The company has received the patent for an invention entitled ‘Novel Granules and its pesticidal compositions’, from Patent Office, The Government of India. This is valid for 20 years.

Systems: Banyantree Growth Capital, LLC offloaded a 2.55 per cent equity stake in the company via open market transactions during April month. With this, its shareholding in the company stands reduced to 5.9 per cent.

Punjab and Sind Bank: The state-owned lender declared Srei Infrastructure Finance and SREI Equipment Finance Ltd accounts as fraud. The lender said both the companies facing insolvency proceedings are non-performing assets (NPAs).

Ajmera Realty & Infra India: The real estate firm said it will launch six projects in Mumbai and Pune during the next two financial years and it expects to generate sales worth Rs 4,000 crore. The company expects to clock in sales worth around Rs 5,000 crore in the next 3-5 years from its future launches as well as its existing projects.

Benares Hotels: The hotels and resorts company reported a 196 per cent rise in the profit to Rs 3.03 for the quarter with EBITDA rising 68 per cent to Rs 5.8 crore YoY, while revenue increased by 46.3 per cent to Rs 16.12 crore in the period.


Future Enterprises:
The debt-ridden company said it has defaulted on payment of Rs 29.33 crore as interest on non-convertible debentures (NCDs). The due date for payment was April 18. This is the third default by the Kishore Biyani-led Future group firm this month.

Ansal Housing: Housing finance major HDFC divested 1 per cent stake in real estate company

& Construction Ltd through an open market transaction. According to bulk deal data from NSE, HDFC sold a total of 5,74,726 shares, amounting to 0.96 per cent stake of Ansal Housing for Rs 8.47 apiece.

Future Retail: The electronic voting process for shareholders of the debt-ridden firm ended on Tuesday evening ahead of the meetings of the shareholders and creditors to approve the sale of the company’s retail assets to billionaire Mukesh Ambani’s Reliance Retail despite opposition from e-commerce major Amazon and an insolvency petition from its lenders.