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Stocks To Watch: Hdfc Bank, Infosys, M&m, Tata Power | Mint – Mint

Here is the list of the top 10 stocks that are likely to be in focus on Monday:

HDFC Bank: The country’s largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit to 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed.

Infosys: Infosys Ltd. gave a sales forecast that trailed analyst estimates, signaling slowing demand for software and IT services as companies exit work-from-home arrangements in a post-pandemic world. Revenue this fiscal year ending in March 2023 will increase 13% to 15% in constant currency terms, lagging the 17% growth analyst had projected on average.

ICICI Pru Life: ICICI Prudential Life Insurance on Saturday posted over two-fold jump in its net profit to 185 crore for the January-March quarter on account of robust growth in new business. The company had posted a profit after tax of 64 crore for January-March FY2021, ICICI Prudential Life Insurance said in a regulatory filing.

Mahindra Holidays & Resorts: Mahindra Holidays & Resorts India Ltd on Saturday said it will increase its holding in Rocksport Pvt Ltd, a firm engaged in soft adventure activities and learning programmes, to 23.42 per cent with the acquisition of a tad over 4.88 lakh equity shares for 12 crore. The company has agreed to subscribe to an additional 4,88,321 equity shares of Rocksport in three installments for a total cash consideration of 12 crore, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a regulatory filing.

Mahindra & Mahindra: The firm on Saturday said it has agreed to sell over 34.75 lakh shares, constituting 22.81 per cent of the paid-up capital, in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL), to Japan-based Sanyo Special Steel Co Ltd in a 212 crore deal.

IndiGo: IndiGo, promoted by InterGlobe Aviation Ltd., has appointed Vikram Singh Mehta, former chairman, Shell group of companies in India, and BS Dhanoa, former air chief marshal, as independent non-executive directors to the airline’s board.

Tata Power: Tata Power on Thursday said a consortium led by US-based BlackRock Real Assets will invest 4,000 crore in its subsidiary, Tata Power Renewable Energy Ltd, for over 10 per cent equity stake. Abu-Dhabi-based investment company Mubadala Investment Company (Mubadala) is also part of consortium GreenForest, Tata Power Company said in a statement.

UltraTech Cement: The country’s leading cement maker UltraTech Cement on Friday announced investing USD 101.10 million (around 839.52 crore) for a 29.39 per cent equity stake in the UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT). This is a “strategic investment” for the company, Aditya Birla Group firm said in a regulatory update.

Oil marketing companies: The crude prices are still hovering above $100 per barrel and is likely to benefit OMCs.

Windlas Biotech: Windlas Biotech Ltd on Thursday said it has concluded European Union good manufacturing practice inspection carried out by the National Institute of Pharmacy and Nutrition, Hungary, for its Plant-IV at Dehradun with zero critical observations. This will help the firm expand its presence in the European market, the firm said.

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