Bharti Airtel is the Nifty company that will announce its March quarter earnings on Monday. 3i Infotech, Federal Bank, Gland Pharma, Mangalore Refinery, Sun Pharma Advanced are among other companies that will declare their results today
NEW DELHI : Here are the top 10 stocks that will be in news today:
Adani Green Energy: The Gautam Adani-led company is looking to buy Japan’s SoftBank Group Corp.’s controlling stake in solar power producer SB Energy, after SoftBank’s earlier proposed deal with Canada Pension Plan Investment Board was called off. A due diligence process has been started by AGEL, with its personnel been given access to SB Energy’ data room.
Cipla: The drug major on Friday posted 73% rise in consolidated net profit at ₹412 crore for the fourth quarter ended Marchon the back of robust sales across markets. The company is looking to expand its wide portfolio of covid-19 drugs over the next two months with the expected launch of Regeneron Pharmaceuticals Inc.’s antibody cocktail and the generic of baricitinib through voluntary licenses from Merck and Eli Lilly.
Bharti Airtel: The telecom company will report its March quarter earnings on Monday. Meanwhile, Airtel has announced to offer a recharge pack of ₹49 for free to as many as 5.5 crore low-income customers to help them stay connected during the pandemic.
Hero MotoCorp: The country’s leading two wheeler maker is looking to launch an electric model next year and mark its entry into the segment, a senior company official told PTI. Bullish on the electric vehicle vertical, the company is utilising its Jaipur (Rajasthan) and Stephanskirchen (Germany) based R&D set-ups to develop its own products. Besides, it has tied up with Taiwan-based Gogoro Inc to bring the latter’s battery swapping platform to India.
Punjab National Bank: The lender has raised ₹1,800 crore by selling 53 crore shares on a private placement basis to investors like LIC and Societe Generale. Eligible qualified institutional buyers (QIBs) were given the share at an issue price of ₹33.75 per unit aggregating to ₹1,799.99 crore.
Bata India: The footwear retailer announced the appointment of Gunjan Shah as its new chief executive officer succeeding Sandeep Kataria who was elevated as the global CEO of Bata Brands last year. Shah is set to join Bata on 21 June and will be based out of the company’s Gurugram office.
Larsen & Toubro: Engineering and construction giant Larsen & Toubro (L&T) on Friday reported 11.3 % rise in consolidated net profit at ₹3,820.16 crore for March quarter 2020-21. Income during the quarter under review increased to ₹49,116.16 crore, over ₹44,905.76 crore in the year-ago period.
Zensar Technologies: The RPG company has entered into a definitive agreement to acquire M3bi, a Arizona-based data and digital engineering firm. Zensar Technologies Ltd will acquire the entire share capital of M3bi Private Limited, and its wholly owned subsidiary, Zensar Technologies Inc., will acquire the entire share capital of M3bi LLC. This acquisition will be completely funded by internal accruals.
Wipro: The IT company has appointed Zurich Insurance Group CEO for Asia Pacific Tulsi Naidu as an independent director on its board for five years, effective July 1. Naidu spent 25 years in the global financial services sector and is a member of the Zurich group’s executive committee.
Mphasis Ltd: IT services firm reported a 10.2% year-on-year decline in net profit to ₹316.9 crore during the fourth quarter ended March. For FY21, Mphasis’ net profit was up 2.7% to ₹1,216.8 crore. Its revenue from operations grew 7.5% to ₹2,524.2 crore in the March quarter from ₹2,346.1 crore in the year-ago period driven by broad-based growth aided by Europe and Hi Tech vertical in addition to banking and capital markets.