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Stocks to Watch Today: Infosys, Tata Steel, Union Bank of India, TVS Motor

13 Apr , 2022   By : Kanchan Joshi


Stocks to Watch Today: Infosys, Tata Steel, Union Bank of India, TVS Motor

NEW DELHI: Here is a list of stocks that could be in focus on Wednesday:


Infosys: The IT major will announce its fiscal fourth quarter earnings on Wednesday. Analysts expect Infosys to guide for double-digit revenue growth for FY23 while retaining its Ebit margin guidance in the 22-24 percent band.


Tata Steel: Has completed acquisition of entire 50% stake held by Steel Authority of India, in S&T Mining Company. Its subsidiary Tata Steel Mining Ltd acquired debt-laden Rohit Ferro-Tech Ltd for Rs617.12 crore through an insolvency resolution process on Tuesday.


Union Bank of India: The lender will buy out the 75% stake held jointly by Bank of Baroda and Indian Overseas Bank in India International Bank Malaysia. The proposal is awaiting formal approval from RBI. It will also require the government's nod including a go-ahead from the external affairs ministry since the bank is of strategic importance.


TVS Motor: Swiss E-Mobility Group (Holding) AG, a subsidiary of the company, has acquired 100% stake in Alexand'Ro Edouard'O Passion Vélo Sàrl for CHF 2.79 million. The company is engaged in the sale of e-bikes as well as e-bike accessories.


Reliance Capital: Amid a standoff over the bidding process for debt-ridden Reliance Capital Ltd (RCL) and its subsidiaries, lenders have rejected the concerns raised by RBI-appointed administrator and have decided to go ahead with their own proposal. In November, the RBI superseded the board of RCL following payment defaults and governance lapses.


Hathway Cable & Datacom: Reported a 60.6% year-on-year decline in its consolidated net profit to Rs28.42 crore for the quarter ended March 2022. Total income during the period rose 3.32% to Rs462.87 crore.


Fino Payments Bank: Will buy a minority stake in New Delhi-based fintech PaySprint for an undisclosed amount. The bank acquire up to 12.19% stake in the company which offers APIs (Application Programming Interfaces) in banking, payments, travel, lending, insurance and investments.


ICICI Bank: The private sector lender in a board meeting scheduled for 23 April will consider fund raising by way of issuance of debt securities.


Veranda Learning Solutions: Nomura Singapore has exited the company by selling an additional 7,78,600 shares at an average price of Rs162.51 apiece, via open market transactions. European financial services group Societe Generale acquired 7,68,398 equity shares in Veranda at an average of Rs162.50 apiece.


McDowell Holdings: The National Company Law Tribunal has initiated insolvency proceedings against the company and appointed an interim resolution professional. The NCLT admitted the plea filed by Sun Star Hotels and Estate Pvt Ltd, a financial creditor of the erstwhile Vijay Mallya-promoted company, claiming a default of Rs16.80 crore.


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