Home >Markets >Stock Markets >Stocks to Watch: HCL Tech, ICICI Bank, ONGC, Tech Mahindra, Srei Infra

NEW DELHI: Here are top 10 stocks that could be in the news today:

HCL Technologies: The IT firm posted a net profit of 2,962 crore in the March quarter, down 25.6% sequentially due to a one-time tax expense. Revenue for the fourth quarter was up 1.8% sequentially It expects a double-digit revenue growth in constant currency terms for FY22. Meanwhile, the company has claimed it is shifting workload from India to other geographies to sustain business continuity amid the second wave of record-high Covid cases.

ICICI Bank: The private sector lender on Saturday reported a 260.47% year-on-year rise in net profit to 4,402.61 crore for the three months to March on the back of rise in net interest income (NII) and lower provisioning. However, its profit was lower than 4,507.10 crore estimated by a Bloomberg poll of 5 analysts.

ONGC: The petroleum ministry has told India's largest oil and gas producer ONGC to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in KG basin gas fields, monetise existing infrastructure, and hive off drilling and other services into a separate firm to raise production.

Tech Mahindra: The IT services firm will declare its March quarter earnings on Monday. The company had reported a 14.3% rise in its consolidated net profit at 1,309.8 crore for the December 2020. Its revenue from operations was almost flat at 9,647.1 crore in the quarter under review from 9,654.6 crore in the year-ago period.

SBI Card and Payment Services: The card company will report its fourth quarter earnings on Monday. It had reported a net profit drop of 30% for the quarter ended December.

HDFC Life Insurance: The company will report its January-March quarter earnings today. In the December quarter, it had reported a 5% rise in its consolidated net profit at 264 crore.

Sanofi India: The local unit of the French drugmaker, is in advanced talks to sell a select portfolio of its over-the-counter (OTC) drugs to a domestic pharmaceutical firm, two people aware of the development said.

Kotak Mahindra Bank: The board of directors of the bank will meet on May 3 to consider the financial results for the March quarter and and recommendation of equity dividend for FY2021.

Hathway Cable & Datacom: Promoters Jio Content Distribution Holdings, Jio Internet Distribution Holdings, and Jio Cable and Broadband Holdings will sell up to 20.54 crore shares or 11.61% of the total equity through an offer for sale. The floor price has been fixed at 21.50 per share, a discount of 0.7% to Friday's closing price. The OFS opens for non-retail investors on Monday and for retail investors Tuesday.

Srei Infrastructure Finance: The company's wholly-owned subsidiary Srei Equipment Finance has received an expression of interest for equity infusion of an undisclosed amount from global private investment firm Cerberus Global Investments, according to a regulatory filing.

Power Grid: The company's subsidiary PowerGrid Infrastructure Investment Trust has fixed a price band of 99-100 for its initial public offering. Earlier, the company had its IPO will open on 29 April and close on 3 May. The anchor investor will start bidding on 28 May.

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