Tata Motors, Aarti Industries, Abbott India, Canara Bank, Manappuram Finance, Minda Corp and Torrent Pharmaceuticals are among companies that will report their March quarter earnings today
NEW DELHI :
Here are the top 10 stocks that would be in news on Tuesday:
Bharti Airtel: The telecom company reported a March quarter profit of ₹759 crore from a loss of ₹5,237 crore a year ago, as it clocked higher revenues and one-time gains. Consolidated revenue rose 17.6% from a year ago to ₹25,747 crore.
HCL Technologies: The IT services firm is expanding in the UK with the hiring of 1,000 technology professionals to support its clients in the UK and around the world. The company plans to hire these professionals in the fields of digital transformation, cloud, artificial intelligence and cyber security for its London, Greater London, and Manchester offices.
Reliance Industries: The company's arm Jio is deploying two undersea cable systems with global partners and supplier SubCom to support data demand in India. India-Asia-Xpress (IAX) System, which will connect India with Singapore, will be ready for service by mid-2023, and India-Europe-Xpress (IEX) system, which will connect India to the Middle East and Europe, is expected to be ready in early 2024.
Tata Motors: The homegrown automobile giant will declare its March quarter earnings today. Besides, the company will undertake a block closure at its Jamshedpur facility from 18-22 May.
Union Bank of India: The state-owned lender said it has approved raising of ₹1,750 crore through qualified institutional placement. The committee of the directors for raising capital funds at its meeting authorised the opening of the issue today. The committee has set the floor price of the QIP at ₹35.60 per equity share. The bank may offer a discount of not more than 5% on the floor price calculated for the issue.
Infosys: The IT major has filed for arbitration proceedings against US company Whittle Management over unpaid invoice, a Times of India report said. Infosys alleged that the US customer did not pay for certain software service rendered by the former upon receiving a work order.
Zuari Agro Chemicals: The company said its fertiliser plant in Goa has been impacted due to Tauktae cyclone and there could be some damages. The company said it is in the process of assessing the damages caused by the cyclone Tauktae.
Bharat Forge: The company plans to buy 49% shareholding in its arm Kalyani Strategic Systems for ₹329.7 million. Bharat Forge holds 51% stake in the unit currently.
Panacea Biotec: Serum Institute of India CEO Adar Poonawalla on Monday offloaded his entire stake in Panacea Biotec amounting to 5.15% shareholding of the firm for ₹118 crore, through an open market transaction. Poonawalla sold 31,57,034 shares he held in the firm at a price of ₹373.85 per share, taking the total deal value to ₹118.02 crore. The shares were picked by SII at the same price, through a separate transaction.
Strides Pharma Science: The company has announced the promoter group has released substantial pledge of over 38%. Currently the overall promoter group pledge stands at 25.98% of the promoter holding and 7.71% of the paid up capital of the company as compared to 41.96% of the promoter holding and 12.45% of the paid up capital as on 7 May, resulting in reduction of pledge by 38%.
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