Stocks to Watch: Infosys, HDFC Bank, Tinplate, Brightcom, Vedanta, Thermax

Infosys is scheduled to announce results today, while HDFC Bank shall be reporting its Q4 numbers on Saturday.

The key benchmark indices are likely to start trade on a quiet note amid mixed global cues. While, the US markets pared gains and slipped into red last night, Asian markets were mostly up this Wednesday morning. Today, Infosys results and the extended weekend factor could weigh on the market sentiment. As of 07:20 AM, the SGX Nifty April futures quoted at 17,560 as against the spot Nifty close of 17,530 yesterday.

Earnings Watch: Infosys, Den Networks and Lesha Industries to announce results today. Over the extended holiday weekend, Alok Textiles, Oriental Hotels, Welcure Drugs, HDFC Bank, ICICI Prudential Life and Integrated Capital Services are some of the notable companies to announce Q4 results.

HDFC Bank: The private sector lender is hopeful that the proposed merger with the parent HDFC will pave the way for its entry into global indices such as the MSCI and FTSE. The bank in its investor presentation has made a case citing an example of Saudi Aramco - even though the oil giant had a free float of just 0.5 per cent. READ MORE

Nykaa: Falguni Nayar, the chief executive officer and founder of beauty supply company Nykaa, has been named the EY Entrepreneur of the Year for 2021 on Tuesday. Nayar will now represent India at the EY World Entrepreneur of the Year Award on June 9. READ MORE 

Vedanta: The company’s chairman Anil Agarwal on Tuesday said that the company in partnership with Foxconn will set up a semiconductor manufacturing plant in the next two years. He termed the signing up of the pact with Foxconn as a "very big job", and said that the semiconductor industry will promote other sectors like automobiles and electronics in the country. READ MORE

The Tinplate Company of India: The company reported a 103.7 per cent surge in Q4FY22 net profit at Rs 114.42 crore as against Rs 56.16 crore in Q4FY21. Total income also jumped 62.3 per cent to Rs 1,238.36 crore from Rs 762.86 crore.

Anand Rathi Wealth: The company reported more than three-fold jump in Q4 net profit at Rs 34.80 crore for the quarter ended March 31, 2022 when compared with Rs 10.09 crore in the corresponding quarter a year ago. Total income was up 49.4 per cent YoY at Rs 114.75 crore from Rs 76.81 crore in the same period.

Hathway Cable & Datacom: The company’s Q4FY22 net profit plunged 58.5 per cent YoY to Rs 7 crore as against Rs 16.86 crore in Q4FY21. Total income also declined by 2.1 per cent to Rs 162.84 crore from Rs 166.36 crore.

Shriram City Union Finance: The company has set a target of increasing its gold loan book by nearly four-fold to Rs 20,000 crore in the next five years. The company hopes to achieve this through aggressive expansion in North India, after the completion of the current merger process. READ MORE

Spandana Sphoorthy: According to sources, the micro finance institution backed by private equity fund Kedaara, and Padmaja Reddy, its founder and former managing director are moving towards some understanding on payment of dues and clearing related party transactions. Sources said the conversations are ongoing between the company and Padmaja Reddy. READ MORE

Thermax: The company has bagged an order worth Rs. 522 crore for utility boilers and associated systems for a grass root refinery and petrochemical complex in Rajasthan. The order includes two units of 260 TPH high pressure utility boilers along with allied auxiliaries to be designed and manufactured by Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of Thermax.

Brightcom: The company has partnered with Intent IQ to enhance growth scale & tech capabilities in various areas of the Adtech Industry. The company expects significant increase in revenues up to 30 per cent through this partnership. 

Jaykay Enterprises: The company’s board on April 12 decided to acquire 99 per cent state in Silvergrey Engineers a partnership firm engaged in manufacturing and supply of parts and accessories to defence equipment manufacturing industry. Further, the board also announced its decision to diversify into real estate.

Tanvi Foods: The company’s board deferred its decision on bonus share issue and other related business agenda in its board meet on Tuesday.

Tarc: The company informed BSE, that Acuite Ratings & Research has assigned – ACUITE Provisional BBB-/Stable rating on the company’s long term non-convertible debentures worth Rs 1,400 crore.

Stocks in F&O ban: RBL Bank is the only stock in the F&O ban period on Wednesday.