Key Benchmark indices broke a five-day losing streak and rebounded with one per cent gains on April 20, backed by buying in beaten-down HDFC twins and technology stocks. Cement and FMCG stocks and index heavyweight Reliance Industries also supported the market. The BSE Sensex rallied 574 points to 57,037, while the Nifty50 jumped 178 points to 17,136.
Results Today
HCL Technologies, Nestle India, ICICI Lombard General Insurance Company, L&T Technology Services, Tata Communications, CRISIL, Cyient, Rallis India, Sasken Technologies, Shiva Cement, Betala Global Securities, Rajratan Global Wire, Roni Households, Shukra Jewellers, S&T Corporation, and Trident Texofab will release quarterly earnings on April 21.
Tata Elxsi
The design and technology services provider, Tata Elxsi, clocked 39 per cent year-on-year growth in Q4FY22 profit at Rs 160 crore on healthy growth in revenue that increased 31.5 per cent YoY to Rs 682 crore backed by strong double-digit growth in transportation, media and communications, and healthcare segments. EBITDA grew by 32 per cent YoY to Rs 221.2 crore in the March quarter.
Persistent Systems
Kotak Mahindra Mutual Fund bought additional 21,566 equity shares in the IT company via open market transactions on April 18. With this, Kotak MF’s shareholding in the company stands increased to 5 per cent, up from 4.97 per cent earlier.
Infosys
The bluechip IT company has completed the acquisition of Germany-based digital experience and marketing agency, oddity.
Ambalal Sarabhai Enterprises
CoSara Diagnostics got permission to manufacture and sell its SARAQ Hepatitis C (HCV) viral load kit as an in vitro diagnostic (IVD) from Central Drugs Standard Control Organisation. CoSara is a joint venture of a subsidiary of Ambalal Sarabhai Enterprises, and Co-Diagnostics, Inc, USA.
Everest Kanto Cylinder
Subsidiary EKC International FZE (Dubai) has entered into a joint venture agreement with Dr. Mohamed Saad Eldin. The company intends to become the market leader in CNG cylinder manufacturing in the Middle East and North Africa (MENA) region by 2026 leveraging on the strong track record and the know-how of EKC International Dubai and the high potential in the Egyptian and African markets.
Atul Auto
The company joined hands with Valeo and Honda Power Pack Energy India for electric vehicles with battery swapping solutions. Subsidiary Atul Greentech (AGPL), engaged in designing and developing innovative solutions for last-mile electric mobility for domestic and export markets, would launch the e-vehicle after the successful completion of field trials.
ICICI Securities
Consolidated profit grew by 3.3 per cent year-on-year to Rs 340.3 crore in Q4FY22 impacted by higher finance and employee costs, and charge related to impairment on financial instruments. Revenue grew by 20.6 per cent YoY to Rs 891.7 crore led by an increase in interest income, income from services, and net gain on fair value changes in the treasury segment and other investment portfolios.
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