Stocks in news: Bandhan Bank, Marico, Tata Steel, Ruchi Soya and more

The Indian equity market is likely to open in the red today as SGX Nifty was trading 146 points lower at 17,874. Indian equity market ended lower on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session. Sensex ended 435.24 points or 0.72 per cent lower at 60,176.50 and Nifty lost 96 points or 0.53 per cent to close at 17,957.40. HDFC Bank was the top  Sensex loser, followed by Bajaj Finserv, HDFC, Kotak Bank, IndusInd Bank, Bajaj Finance and Reliance Industries falling up to 2.98%. On the other hand, NTPC, PowerGrid, ITC, Titan, TCS and Nestle India were the top Sensex gainers, rising up to 3.40 per cent.

Here’s a look at stocks that are likely to remain in news today.

Bandhan Bank: The private sector lender said its loans and advances grew 16 per cent year-on-year (YoY) to Rs 1,01,359 crore at the end of January-March quarter of financial year 2021-22.

Sequentially, loans and advances rose 15 per cent from Rs 87,998 crore as of December 31, 2021.

Total deposits grew 24 per cent YoY and 14 per cent quarter-on-quarter (QoQ) to Rs 96,331 crore, while current account and saving account (CASA) deposits rose 18 per cent YoY and 4 per cent QoQ to Rs 40,072 crore.

Share Market LIVE: Sensex, Nifty likely to open lower today

SBI Cards: US private equity fund CA Rover Holdings, part of the Carlyle Group, on Tuesday offloaded 2.6 crore shares of SBI Cards and Payment Services Ltd for a little over Rs 2,229 crore through an open market transaction. According to bulk deal data available with the NSE, CA Rover Holdings sold 2,61,73,488 shares of SBI Cards at an average price of Rs 851.73 apiece. This took the total deal value to Rs 2,229.27 crore.

Marico: The fast-moving consumer goods (FMCG) company said that consumption trends remained subdued during the January-March quarter of financial year 2021-22 amidst weak rural sentiment and inflation in global commodities aggravating due to geo-political tensions. While companies effected price hikes across FMCG categories to cope with the cost-push, persistent inflation continued to hurt consumer wallets across rural and urban, the company informed the stock exchanges in its quarterly update.

Lupin: The global pharma major announced to have entered into a licensing agreement with Alvion Pharmaceuticals to commercialise medicines for Cardiometabolic diseases in the Southeast Asia region. Lupin said that it is committed to providing new affordable treatment options to healthcare providers and patients. By commercializing cardiometabolic drugs in the Southeast Asian region, Lupin will play a significant role in improving the quality of healthcare and access to medicines, the company said in a statement.

Tata Steel: Tata Steel India has clocked highest-ever annual crude steel output of 19.06 million tonne, with a growth of 13 percent YoY. Tata Steel India deliveries rose 6 percent YoY in FY22, surpassing the previous best recorded in FY21. Tata Steel Europe steel output in FY22 grew by 6 percent YoY and total deliveries increased by 2 percent YoY, driven by broad-based improvement in most steel consuming sectors.

Tata Power Company: Tata Power Renewables Energy (TPREL), a wholly owned subsidiary of Tata Power, has commissioned a 300-MW solar plant in Dholera, Gujarat.

Tata Consultancy Services: Kansas Department of Labour has selected TCS to build a modern, secure, web-based system for the state’s unemployment insurance program. This will help transform a legacy mainframe platform from the 1970s into a cloud-based system that dramatically improves the delivery of services to Kansas residents.

Ruchi Soya Industries: The company’s board of directors has cleared the allotment of 6.61 crore  equity shares worth Rs 4,300 crore.

Adani Enterprises: The board of the company will consider raising of funds on Friday, April 8.

Read More: Stocks in news: Bandhan Bank, Marico, Tata Steel, Ruchi Soya and more

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