Here is the list of the top 10 stocks likely to take center stage on Tuesday:
Mahindra and Mahindra: Automaker M&M said on Monday it expects the sluggish commercial vehicle market to continue in the current quarter of FY22 as uncertainties surrounding the Omicron variant of Covid-19 keep the demand at a low level. “We have always seen a V-shaped recovery when we come out of the pandemic,” said Veejay Nakra, CEO of Automotive, M&M. “The first quarter of next year we will probably start to see a good recovery in the industry as people and the movement of goods starts to happen”.
Axis Bank: The bank has become favorite to buy Citi’s consumer business in India, which is valued at around $1.5 billion in a deal expected to take place this month, according to two sources with direct knowledge of the matter. Another Indian lender, Kotak Mahindra Bank is still in the running but has submitted a lower bid to Axis Bank and therefore ranks second in Citi’s order of preference, the sources told Reuters.
L&T: Larsen & Toubro’s heavy engineering arm reported five critical renewable diesel reactors to North America’s largest renewable diesel producer, Diamond Green Diesel (DGD), two weeks ahead of the delivery date. DGD is a joint venture of Darling Ingredients Inc. and Valero Energy Corporation in Texas, USA. L&T is executing three other such green diesel projects for US and European customers at its fully integrated, state-of-the-art, digital heavy engineering complex located in Hazira, Gujarat.
Tata Power: Tata Power Renewable Energy Limited (TPREL) announced on Monday that it has commissioned two solar power projects of 50 MW each at Prayagraj and Banda in Uttar Pradesh. The projects were carried out by TPREL, a wholly owned subsidiary of Tata Power. The factories are expected to produce more than 221.26 million units per year.
Tech Mahindra: The computer giant announced on Monday the acquisition of 100% of the capital of the European company Com tec Co IT (CTC) for 310 million euros (approximately ₹2,628 crore), an agreement which includes earn-outs and synergy-related payments. In addition, the IT company also announced the acquisition of 25% of the capital of two IT platforms – SWFT and Surance – for 20 million euros. SWFT and Surance are part of the same founding group as CTC.
NTPC: The public company plans to raise up to $750 million through external commercial borrowing (ECB) in the form of a term loan. According to a request for proposals (RFP), issued by NTPC, the amount raised will be used for capital expenditures for ongoing or new capacity addition programs, including renewable energy projects, coal mines and laundries. Proceeds from the term loan will also be used to refinance existing ECB or Rupee loans used domestically.
Shriram Transport Finance Corporation: Commercial vehicle financier, STFC, has partnered with Skill India to train 1,000 drivers to ensure seamless and accident-free transportation of oxygen tank trucks. In a bid to streamline the supply chain of Liquid Medical Oxygen (OMT) tankers amid the pandemic, Shriram Transport Finance has launched a CSR initiative – Shriram Seva Sankalp LMO Driver Training.
HFCL Ltd: The company on Monday reported consolidated net income of ₹81 crores for the December quarter, down 5% from a year ago. It was ₹85.11 crores in the same quarter last year. The consolidated turnover of the company amounts to ₹1,215 crore, compared to ₹1,277 crore in the third quarter of last year, down 5%.
Tatva Chintan: The chemical manufacturing company on Monday reported consolidated net profit of ₹22.8 crores for the three months ended December 31, 2021 (Q3FY22), up 10% from ₹20.8 crores recorded a year ago. The company’s operating revenue jumped 30% to ₹104 crore for the period under review. The same was ₹80 crores at the same time last year.
Angel One: Reported higher profit at ₹164.54 crores in Q3FY22 versus ₹73.16 crores in Q3FY21, revenue jumped to ₹597.3 crores of ₹306.79 crore per year.
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