Tata Steel, Titan Company, IndusInd Bank to be watched

Ambuja Cements, HDFC Life Insurance Company and IndusInd Bank will declare their results today, 27 April 2020.

Tata Steel on Friday (24 April) said its board has approved proposal to raise up to Rs 5,000 crore through issuance of non convertible debentures (NCDs) on private placement basis in one or more tranches.

BrickworkRatings (BWR) assigned 'A1+' rating for Titan Company's proposed commercial paper issue of Rs 900 crore. Further, the rating on the company's bank loan facilities of Rs 5000 crore was reaffirmed. The rating on the proposed long term cash credit of Rs 1000 crore was reaffirmed at 'BWR AAA/stable'. The rating on the short term gold metal loan of Rs 2735 crore and the rating on the proposed short term gold metal loan of Rs 1265 crore was reaffirmed at 'BWR A1+'.

ICICI Prudential Life Insurance Company's consolidated net profit fell 31.52% to Rs 178.73 crore in Q4 March 2020 as against Rs 261.02 crore in Q4 March 2019. Net premium earned rose 4.16% to Rs 10,475.12 crore in Q4 March 2020 from Rs 10,056.32 crore in Q4 March 2019. Profit before Tax (PBT) declined 38.49% to Rs 170.90 crore in Q4 March 2020 over Q4 March 2019.

Mumbai-based Anamudi Real Estates LLP (AREL) purchased an additional 2.99 lakh equity shares, or 0.32% stake, of Sobha via open market on 22 April 2020. Following the transaction, AREL's stake in Sobha has increased to 5.19% from 4.87% held earlier. Sobha made the disclosure on Saturday, 25 April 2020.

Dwarikesh Sugar Industries said it will start production of hand sanitizers at its unit at Dwarikesh Nagar, Bijnore, Uttar Pradesh from 25 April 2020.

Bank of Baroda (BoB) on Friday (24 April 2020) said its board has approved raising up to Rs 13,500 crore by 31 March 2021 (FY21) and beyond if found expedient.

Torrent Pharmaceuticals said it issued non-convertible debentures (NCDs) worth Rs 195 crore on private placement basis on 24 April 2020.

On a consolidated basis, Mindtree's net profit rose 4.7% to Rs 206.2 crore on a 4.3% increase in revenue to Rs 2050.5 crore in Q4 March 2020 over Q3 December 2019. Consolidated EBITDA for Q4 March 2020 stood at Rs 351.20 crore, rising 14.7% compared with Rs 3,063 reported in Q3 December 2019. EBITDA margin rose to 17.1% in Q4 March 2020 from 15.6% reported in Q3 December 2019.

Natco Pharma announced closure of inspection with an Establishment Inspection Report (EIR) from USFDA for the pre-approval inspection conducted at its formulations facility in Kothur village, Telangana.

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