Trending Stocks: Veranda, Ruchi Soya, Tata Motors and others in news today

Veranda Learning Solutions 

The company will make its debut on the bourses on April 11.

Ruchi Soya Industries 

The company has repaid Rs 2,925 crore loans to banks and has become a debt-free company. The company has recently raised Rs 4,300 crore through its follow-on public offer, and part of the proceeds has been utilised to repay the debt.

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Wipro

The company on Friday announced the appointment of Anis Chenchah as a member of its executive board and Chief Executive Officer, APMEA (Asia Pacific, India, Middle East and Africa).

IndiGo 

The company has emerged as the world’s sixth-largest carrier by passenger volume for March, according to the UK-based Official Airline Guide (OAG).

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Tata Consultancy Services (TCS)

Tata Consultancy Services (TCS)-led consortium has bagged a Rs 550 crore order from BSNL for deploying an indigenously-designed 4G network. The TCS consortium will initially deploy 6,000 mobile towers for BSNL 4G services.

GTPL Hathway 

The digital cable TV and broadband service provider said its profit after tax for March 2022 quarter declined 4.3% to Rs 54.5 crore and revenue fell 17.5% to Rs 617.3 crore compared to the year-ago period largely due to falling in EPC project business, but its ex-EPC profit grew by 1% and revenue rose by 4% YoY during the quarter. The stock has gained 16.5% in the past 1 week and has gained 7.1% in the past month.

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Bharat Electronics (BEL) 

The company has won the ‘Best PSU Award’ at the 16th edition of the Media Excellence Awards organised in New Delhi by the Media Federation of India, a national organisation working for the promotion of Corporate Communication, Public Relations, Media Education and Journalism.

Tata Steel 

The National Company Law Tribunal has approved the Resolution Plan submitted by Tata Steel Mining, a wholly-owned subsidiary of Tata Steel, for the acquisition of Rohit Ferro-Tech.

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Oil India (OIL) 

The company has signed an Incubation agreement with the Start-up Ohm Clean Tech for the Design, Integration and Development of a 9-M Hydrogen Fuel Cell powered e-Bus, and a Liquid Organic Hydrogen Carrier (LOHC) solution.

Shoppers Stop 

The company has completed the further sale of 19.50% of its stake in Crossword Bookstores. Accordingly, the company’s equity stake in Crossword stands reduced to 29.50%. In October 2021, Shoppers Stop sold a 51% stake in Crossword. The stock has risen 40% in the past month but has been flat in the past week.

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Bandhan Bank

Housing Development Finance Corporation (HDFC) has divested a little over 3% stake in Bandhan Bank, garnering Rs 1,522 crore, through an open market transaction.

SMS Lifesciences India

The United States Food and Drug Administration (USFDA) has completed an inspection of the company’s API manufacturing facility located at Sangareddy district, Telangana (Unit I) without any observations. The inspection commenced on April 4 and concluded on April 8.

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IDBI Bank

Reserve Bank of India (RBI) has imposed a penalty of Rs 90 lakh on IDBI Bank. The bank has been penalised for non-compliance with directions on ‘frauds – classification and reporting by commercial banks and select financial institutions. 

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Seamec

The company along with consortium partner Posh India Offshore has entered into an understanding with infrastructure major Larsen & Toubro. The consortium will undertake diving-related and other associated work through the deployment of vessel “SEAMEC PRINCESS” for ONGC work of pipeline replacement project VII. The total combined value of the contract to the consortium is $101 million. The stock is trading flat for the past one week but has gained 31% during the past month.

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Mahindra Logistics 

The company has acquired 21,327 equity shares and subscribed to 31,600 Compulsorily Convertible Cumulative Preference Shares (CCCPS) of ZipZap Logistics (Whizzard), in aggregate, constituting 36% of the Share Capital of Whizzard, on a fully diluted basis.

Tata Motors 

Luxury carmaker Jaguar Land Rover continued to face the risk of global semiconductor shortage, as its retail sales fell sharply by 36% year-on-year to 79,008 vehicles in Q4FY22 and the sequential decline was just 1.4%. Jaguar brand recorded sales of 14,574 units for the March 2022 quarter, down 37.9 % and Land Rover reported sales of 64,434 units, down 35.6% compared to the year-ago period. Despite the impact of the semiconductor shortage on production and sales, the company said it continued to see strong demand for its products with global retail orders at over 1,68,000 units as of March 2022.

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Punjab National Bank (PNB) 

The bank has opened its international banking unit at GIFT City in Gujarat. The branch will cater to the customers’ needs outside the domestic economy’s jurisdiction, dealing with flows of finance, financial products and services across borders.