Babbling Word

News for nerds

The stock market on Tuesday, April 13, rose over 1.3 percent to give a positive ending. The market on Wednesday, April 14 remain closed due to Ambedkar Jayanti. The Indian stock market on Thursday, April 15, is expected to give a negative opening as the SGX Nifty was trading at 118.50 points or 0.80 percent down at 14,656.50 at 7:25 am. On April 13, the BSE Sensex gained 660.68 points or 1.38 percent to close at 48,544.06. Similarly, the NSE Nifty jumped 194.00 points or 1.36 percent to settle the day at 14,504.80.

Top stock to look for the day:

JSW Steel: JSW Steel Italy S.r.l which is a subsidiary of the company has completed the acquisition of 30.73 percent equity share capital of GSI Lucchini S.p.A.

Infosys: The company has reported a fall of 2.3 percent in its Q4FY21 consolidated profit on quarterly basis to Rs 5,076 crore. However, the revenue of the company rose 1.5 percent QoQ to Rs 26,311 crore.

HDFC Bank: The bank is planning to raise to Rs 50,000 crore during the next 12 months by issuing perpetual debt instruments, tier-II capital bonds and long term bonds.

Maruti Suzuki: Over 1.57 lakh CNG cars have been sold by the company in FY21 compared to 1,06,444 CNG units in 2019-20.

Tata Motors: Global wholesales of the company including Jaguar Land Rover has increased 43 percent to 3,30,125 units in Q4FY21.

UPL: Class action litigation against Advanta Seeds Pty Ltd which is a subsidiary of UPL in Australia has been dismissed by the Supreme Court of Queensland in Australia.

Bharti Airtel: New corporate structure has been announced by the company to sharpen its focus on driving the rapidly unfolding digital opportunities while enabling it to unlock value.

Vedanta: In a voluntary open offer, 37.42 crore shares of the company were validly tendered. After the acquisition, the promoter shareholding in the company will increase to 65.2 percent from the current 55.1 percent.

Motherson Sumi Systems: The company’s rating outlook has been revised to stable from negative by Moody’s Investors Service while affirming the Ba1 corporate family rating to Motherson Sumi Systems.

5paisa Capital: Fresh capital raise of Rs 250.87 crore has been approved by the company via preferential issue of equity shares and warrants at Rs 500 per share to a set of marquee investors, promoters and the promoter group.

Aditya Birla Capital: The company along with Sun Life (India) AMC will sell a 13.5 percent stake in Aditya Birla Sun Life AMC IPO.

Shipping Corporation of India (SCI): M/s Corporate Professionals Capital Private Limited has been appointed by the company as the consultant for undertaking demerger, hive off or transfer of SCI’s non-core assets and assets held for sale.

Results on April 15: Wipro, Blue Blends (India), among others will release their quarterly numbers on Thursday.