Singapore Exchange-traded Nifty50 futures were up 0.4 per cent at 17,198.5 as of Friday morning at 6:40 am. Indian stock markets continued to be volatile with NSE Nifty closing at 17 points lower at 17,304 whereas BSE Sensex ended 104 points lower at 57,892 levels. Nifty Bank index plunged 422 points and closed at 37,531 levels. According to experts, current pattern at Dalal Street is signaling high volatility in the markets.
Here are Stock to Track in Today’s Trade:
Wipro
The company has appointed Jasjit Singh Kang as Head of digital operations and platforms of its iCORE (Integrated Cloud Infrastructure, Digital Operations, Risk and Enterprise Cyber Security Services) business. The stock was flat on Thursday. It has gained 31 per cent during the past one year and is down 12.6 per cent in the past one month.
Lupin
The company received approval from US FDA for a supplemental new drug application for SOLOSEC (secnidazole) in adolescents for both the treatment of bacterial vaginosis in females and trichomoniasis.
HDFC
A minor increase in interest rates, which are already at “historic lows”, will not impact loan disbursal or the demand for homes, HDFC chairman, Deepak Parekh, said at the CII-Anarock Real Estate Conclave.
Ambuja Cements
Consolidated profit fell sharply by 55.5 percent to Rs 431 crore in Q4CY21, against Rs 968 crore in Q4CY20. Revenue rose 2.3 per cent to Rs 7,625 crore, against Rs 7,453 crore during the same period. The company has approved an investment of Rs 3,500 crore, for a cement grinding expansion plan. The company approved the final dividend at Rs 6.30 per share.
Torrent Power
Rating upgrade. CRISIL has upgraded the long term credit rating of non-convertible debentures and long term bank facilities from ‘AA/Positive’ to ‘AA+/Stable’ based on continued strong profitability and sustained improvement in the leverage levels. CRISIL has reaffirmed its rating on the short-term bank facilities and commercial paper program at ‘A1+’. The stock was up 0.8 per cent on Thursday and has generated returns of 39 per cent during the past one year. In the past one month however, it has lost 17 per cent.
Veritas India
Profit falls 40 per cent, Revenue rises 9 per cent. Consolidated profit in Q3FY22 fell 40 percent YoY to Rs 17.8 crore, against Rs 29.5 crore in Q3FY21 due to higher costs of stocks purchased which was partly mitigated by reduction in inventory of finished goods. Revenue increased 9 per cent to Rs 459 crore during the quarter, up from Rs 420.7 crore in same period last fiscal. The decline in revenues from distribution and development business was compensated by a significant growth in revenues from warehousing business. The stock was down 2 per cent on Thursday. It has gained 205 per cent in the past one year and is down 10 per cent in the past one week.
Birla Corporation
Fund raising through NCDs. The company raised Rs 150 crore by approving the allotment of 1,500 non-convertible debentures of Rs 10 lakh each, on private placement basis. The stock gained 1 per cent on Thursday and is trading up 30 per cent in the past one year. It has lost 27 per cent in the past one month.
Hindustan Adhesives
Invested in rights issue of Bagla Tecvision. The company has made an investment of Rs 9.73 lakh by acquiring 97,380 shares in the right issue of Bagla Tecvision. Earlier the company had invested Rs 15.02 lakh by acquiring 1.5 lakh equity shares in the right issue of Bagla Tecvision. With this, the company’s stake stood at 16.28 per cent in Bagla Tecvision. The stock ended higher by 1.7 per cent on Thursday. It has generated returns of 236 per cent during the past one year and has gained 24 per cent in the past one week.
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