Results on April 26: Bajaj Finance, HDFC Life, Aditya Birla Sun Life, KPIT Tech, and Macrotech Developers in focus. Bajaj Finance, HDFC Life Insurance Company, Aditya Birla Sun Life AMC, KPIT Technologies, Macrotech Developers, Mahindra Logistics, Nippon Life India Asset Management, NELCO, Atul, AU Small Finance Bank, Gateway Distriparks, IIFL Securities, Sanofi India, Schaeffler India, Som Distilleries & Breweries, Tata Coffee, Tata Teleservices (Maharashtra), United Breweries, UTI Asset Management Company, VST Industries, D-Link (India), International Travel House, Gujarat Hotels, Jindal Hotels, JK Agri Genetics, and Jumbo Bag will release quarterly earnings on April 26.
Tech Mahindra: Life Insurance Corporation of India bought an additional 85,000 equity shares in the company via open market transactions on April 22, taking its total stake to 5 percent, up from 4.99 percent earlier.
The company reported a massive 286 percent year-on-year growth in profit at Rs 112.5 crore, driven by a tax write-back in the quarter ended March 2022. Revenue grew by 12 percent to Rs 367 crore compared to the year-ago quarter.
Lemon Tree Hotels: The company has signed a license agreement for a 60-room hotel at Kharar, near Chandigarh, under the brand "Lemon Tree Hotel." The hotel is expected to be operational by November 2025. Its subsidiary, Carnation Hotels, will be operating and marketing this hotel.
Mahindra CIE Automotive's profit in the quarter ended March 2022 grew by 1,499 percent year-on-year to Rs 161.43 crore due to lower tax expenses and higher revenue growth. The topline increased 18.2 percent to Rs 2,588.4 crore compared to the corresponding period last fiscal.
Eveready Industries India: The company posted a consolidated loss of Rs 38.41 crore in Q4FY22, which narrowed compared to a loss of Rs 442.53 crore in the corresponding period last fiscal, but revenue fell 11.5 percent year-on-year to Rs 241.24 crore during the quarter.
Veranda Learning Solutions: The learning solutions provider has acquired T.I.M.E. (Advanced Educational Activities Pvt Ltd), the leading test-prep institute with a pan-India presence operating through 188 centres. The company bought T.I.M.E. for Rs. 287 crore.
Hubtown: The company, in a BSE filing, said the board on April 28 will consider the raising of funds by way of a rights issue.
Va Tech Wabag: Amur Gas Chemical Complex LLC (AGCC) in Russia has suspended activities related to the contract given to Va Tech Wabag due to geopolitical uncertainty. The company had secured an engineering and procurement (EP) order from AGCC in Russia in August 2021. It had collected $21.61 million on the basis of the progress of a project that has been progressing well. Va Tech said it would continue to engage in discussions with the customer, periodically evaluate the situation and await the resumption of work.
Aarti Industries: Life Insurance Corporation of India acquired an additional 2.24 lakh equity shares in the company via open market transactions on April 22. With this, LIC's stake in the company has increased to 5.03 percent, up from 4.97 percent earlier.
The company recorded a consolidated profit of Rs 177 crore for the quarter ended March 2022, as against a loss of Rs 184.64 crore in the same period last year, driven by the topline. Revenue grew by 87 percent year-on-year to Rs 1,057.3 crore.
Polyplex Corporation: Nippon Life India Trustee sold 45,028 equity shares in the company via open market transactions. With this, its shareholding in the company was reduced to 2.93 percent, down from 3.07 percent earlier.
Bank of India: The bank, in a BSE filing, said the board approved a capital raise of up to Rs 2,500 crore by the issue of fresh equity capital. The main purpose of the capital raising plan is to increase the minimum public shareholding from the present 18.59 percent to 25 percent in order to comply with the minimum public shareholding requirements.
Tatva Chintan Pharma Chem: Tatva Chintan Pharma reports a 17 percent decline in net profit. The company reported a 17 percent year-on-year decline in profit at Rs 17.51 crore for the March 2022 quarter, dented by lower topline and operating income. Revenue fell 9.3 percent to Rs 98.53 crore during the same period, with margin declining 200 bps YoY.