Tata Motors, Axis Bank, L&T in focus

On a consolidated basis, Tata Motors reported net loss of Rs 7,605.40 crore in Q4 FY21 lower than net loss of Rs 9,894.25 crore in Q4 FY20. Total revenue from operations during the quarter increased 41.8% year-on-year (YoY) to Rs 88,627.90 crore in Q4 FY21.

During the period ended March 2020, an exceptional charge of Rs 14,994.30 crore was recognized under the Jaguar Land Rover (JLR)'s reimagine strategy. It comprised of asset write downs of Rs 9,606.11 crore in relation to models cancelled and restructuring costs of Rs 5,388.19 crore.

Shares of Axis Bank will be in focus. The Specified Undertaking of the Unit Trust of India (SUUTI) proposes to sell up to 3.60 crore equity shares of Axis Bank at a floor price of Rs 680 per share. The offer for sale will open on 19 May for non-retail investors and on 20 May for retail investors with an option to additionally sell 2.20 crore equity shares.

Larsen & Toubro International FZE (LTIFZE), a wholly owned subsidiary of Larsen & Toubro (L&T) has entered into a Share Purchase Agreement to purchase, 6.35% stake in Help Lightning INC., a Delaware Corporation.

On a consolidated basis, Torrent Pharmaceuticals' net profit rose 3.18% to Rs 324 crore on 0.15% increase in net sales to Rs 1,915 crore in Q4 March 2021 over Q4 March 2020.

JSW Hydro Energy, a wholly owned subsidiary of JSW Energy, has raised US$ 707 million by allotment of US$ denominated senior secured notes.

Laxmi Organic Industries said its board of directors has approved proposal to set-up a wholly owned subsidiary (WOS) company in United States. The WOS will be engaged in trading of chemical products manufactured by the company.

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