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Stock Alert

Power Grid, HDFC Bank, Infosys, Tata Communications to be watched

(08:39, 18 Apr 2024)

Power Grid Corporation of India: The company informed that its board has approved the raising of bonds as POWERGRID bonds issue(s) upto Rs 12,000 crore during FY 2024-25. The unsecured, non-convertible, non-cumulative, redeemable, taxable bonds will be issued in one or more tranches / series.

HDFC Bank: The board of directors of the bank may consider annual renewal of issuance of Long-Term Bonds (Financing of Infrastructure and Affordable Housing), Perpetual Debt Instruments (part of Additional Tier I capital) and Tier II Capital Bonds over the period of next twelve months through private placement mode in its board meeting on 20 April 2024.

Infosys: Infosys announced collaboration with Proximus, Belgium?s leading digital services and communications solutions provider, on the ServiceNow platform. Infosys helped Proximus to standardize its existing processes on the ServiceNow platform and transform its customer service management (CSM) operations.

Tata Communications: The company reported consolidated net profit of Rs 321.52 crore in Q4 FY24 as against net profit of Rs 326.64 crore posted in Q4 FY23. Total income rose to Rs 5,748.70 crore from Rs 4,630.45 crore.

Biocon: Biocon announced the signing of an exclusive licensing and supply agreement with Biomm S.A., a specialty pharmaceutical company in Brazil, for the commercialization of its vertically integrated drug product, Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes

Vodafone Idea: The company announced that it has raised Rs 5,400 crore from 74 anchor investors. The telecom company allocated 491 crore shares to anchor investors at Rs 11 per share. The investors include GQG Partners, Fidelity Investments, UBS Fund Management, Jupiter Fund Management, and Australian Super, besides Indian investors such as India Infoline, Motilal Oswal, HDFC Mutual Fund, SBI General Insurance and Quant.

Sunteck Realty: Sunteck Realty reported 26% growth in pre-sales to Rs 678 crore in Q4 FY24 from Rs 537 crore in Q4 FY23. Sunteck?s FY24 pre‐ sales stood at Rs 1,915 crore, a growth of 20% on a YoY basis.

Den Networks: The cable TV distributor?s consolidated net profit tumbled 40.78% to Rs 79.06 crore on 8.8% decline in revenue from operations to Rs 258.02 crore in Q4 FY24 over Q4 FY23.

Hathway Cable & Datacom: The cable TV & fiber internet provider reported consolidated net profit of Rs 34.57 crore in Q4 FY24 as against net loss of Rs 14.62 crore posted in Q4 FY23. Revenue from operations rose 7.35% year on year (YoY) to Rs 493.37 crore in the quarter ended 31 March 2024.

Sanghi Industries: The cement maker on Tuesday announced that its board on 22 April 2024 consider the proposal of fund raising, in one or more tranches, through permissible mode and/or combinations thereof.

PC Jeweller: PC Jeweller announced that it its board has approved raising of funds by way of rights issue of equity shares upto Rs 1,500 crore to the eligible equity shareholders of the company as on the record date.

Shilpa Medicare: Shilpa Medicare informed that its Unit 4, Jadcherla, Telangana facility has received EU good manufacturing practice (GMP) certificate.

Wardwizard Innovations & Mobility: The company said that it has dispatched 3,801 units of electric two-wheelers, recording a growth of 88% as compared to February when the company had sold 2,018 units.

Brigade Enterprises: The company announced that it has achieved pre- sales of Rs 2,243 crore in Q4 FY24. The company?s sales volume stood at Rs 2.72 million square feet (sq.ft) in Q4 FY24.