Stocks to watch: Zomato, Vedanta, SBI Cards, Vodafone, RIL, MOIL, BEML

The benchmark indices are likely to start Tuesday’s session positively according to the trends indicated in SGX Nifty futures, which were about 100 points higher at 7:45 am, indicating an open gap for the markets.

Meanwhile, these are the stocks to watch out for in today’s trading:

Vodafone ideaBritish telecom giant Vodafone has raised its stake in debt-laden Vodafone Idea Limited to 47.61 percent through its subsidiary Prime Metals, a regulatory filing said on Monday. The company earlier held a 44.39 percent stake in Vodafone Idea Limited (VIL). I read here

Reliance Industries: The company has received NCLT approval for the scheme to merge the company and Reliance Syngas.

Vedanta: Vedanta said in a statement to the stock exchange that it achieved the highest ever alumina production of 1.97 million tons while its aluminum production increased by 15 percent year on year to 2.27 million tons, thanks to operational efficiencies. Mined zinc production exceeded one million in India in FY22, and international zinc production rose 10 percent year on year to 2.23 thousand tons with an increase in Jamesburg.

Tata Consulting Services: The company has entered into a strategic partnership with Payments Canada, to transform its payment system operations and help implement Real-Time Rail (RTR).

Bajaj Financing: The company recorded a 26 per cent year-on-year growth in core assets under management in the fourth quarter of 2021 to 2,222. AUMs stood at Rs 1.97 thousand on March 31, 2022, as compared to Rs 1.53 thousand crore a year earlier. Underlying assets under management, excluding IPO financing receivables, grew 26 percent.

Future group: Amazon and Future Group have agreed to appear before the Singapore International Arbitration Center (SIAC), the parties notified the Supreme Court (SC) on Monday. Both parties have been directed by Chief Justice of India (CJI) NV Ramana to file a joint memorandum in the Supreme Court on Tuesday in relation to this matter. I read here

future projects: Debt-burdened Future Enterprises Ltd said on Monday that two independent directors – Anand Chandrasekaran and Malini Chopra – have resigned from the company’s board of directors. Both cited increased workload among the reasons for their resignations, effective from Monday. I read here

Zomato: The Competition Commission on Monday ordered a detailed investigation against food delivery platforms Zomato and Swiggy, for alleged unfair trade practices in connection with their dealings with restaurant partners. Read more

SBI Card and Payment Services: According to reports, the private equity firm Carlyle Group will sell its entire stake in the company for up to Rs 2,558 crore. CA Rover Holdings, the Carlyle entity that owned 29.20 million shares or 3.09% of SBI Cards stock as of the December quarter of 2021, will sell its entire stake through block trading. The shares are offered at Rs 851.50-876.75 a piece, which is a discount of approximately 3 per cent on the current market price.

Mindtree: To consider announcing the final distributions on April 18th.

Moil: The company recorded a turnover of Rs 1,436 crore in the financial year 22, a growth of 22 per cent over the previous financial year. This is marginally lower than the all-time high turnover of Rs 1,441 crore in fiscal year 2019.

3i Infotech: The company has secured a cloud transfer deal for its NuRe platform, from a major commercial bank in the Asia Pacific region. The transaction size is around Rs 6.04 crore.

Emami Realty: India Ratings and Research has assigned and upgraded the credit rating of the company’s long-term banking facilities to “A-“/Stable.

IRB Infrastructure Developers: The Vadodara Kem eight-lane highway project in Gujarat under the sixth phase of the National Development Plan in Hybrid Pension Mode implemented by the subsidiary has obtained provisional certification from the relevant authority. Thus, the SPV is eligible to receive semi-annual annual payments from NHAI for the 15-year operating period.

Hindustan Zinc: The company announced the highest-ever production of mined minerals for the fourth quarter of FY22 at 2.95 thousand tons since the UG transition, up 17 percent compared to the third quarter of FY22, and up 3 percent compared to the fourth quarter of FY21. The highest production was for ore backed by better mining grades. Refined metals production at 2.6 thousand tons in the fourth quarter of fiscal year 22 grew 2 percent year on year, but remained flat compared to the previous quarter.

BEML: The state-owned entity generated all-time record revenue from operations over Rs 4,000 crore for the 2021-22 financial year.

Glenmark Pharma: The company said its board of directors agreed to buy back a lump sum of $75 million of bonds due in 2022 by buying in the market at an early redemption amount plus accrued and unpaid interest.

IndustryInd Bank: The private sector lender said net advances of Rs.2.39,000 crore at the end of March 2022 quarter grew by 13 per cent compared to the same period last year and up 5 per cent compared to the previous quarter. Deposits increased by 15 per cent on an annual basis and 3 per cent on a quarterly basis to Rs.2.93 crore in the fourth quarter of FY22.

Max Healthcare Institute: SBI Funds Management acquired over Rs 1 crore of shares in the company through open market transactions on March 31. Thus, its stake in the company is 9.22 percent, up from 8.19 percent earlier.

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