Stocks to Watch: Zomato, Vedanta, SBI Cards, Vodafone, RIL, MOIL, BEML

The benchmark indices are likely to start Tuesday’s session on a positive note as per trends indicated by the SGX Nifty futures, which were around 100 points up at 7:45 am, hinting at a gap-up open for the markets.

Meanwhile, these are the stocks to watch out for in trade today:

Vodafone Idea: British telecom major Vodafone has raised its stake in debt-ridden Vodafone Idea Limited to 47.61 per cent through its subsidiary Prime Metals, a regulatory filing said on Monday. The company earlier held 44.39 per cent stake in Vodafone Idea Limited (VIL). Read here

Reliance Industries: The company has received NCLT’s approval for scheme of amalgamation of the company and Reliance Syngas.

Vedanta: Vedanta said in an exchange filing that it achieved highest ever alumina production of 1.97 million tons while its aluminum output also rose 15 percent year on year to 2.27 million tones, helped by operational efficiencies. Mined metal production of zinc crossed 1 million in India in FY22, international zinc output was higher by 10 percent year on year to 2.23 lakh tons with ramp up at Gamsberg.

Tata Consultancy Services: The company has entered into a strategic partnership with Payments Canada, to transform its payment system operations and help implement the Real-Time Rail (RTR).

Bajaj Finance: The company reported 26 per cent year-on-year growth in core assets under management in the fourth quarter of 2021-22. AUMs stood at Rs 1.97 lakh core as on March 31, 2022, compared to Rs 1.53 lakh crore a year ago. Core AUM, excluding IPO financing receivables, grew 26 per cent.

Future Group: Amazon and Future Group have agreed to appear before the Singapore International Arbitration Center (SIAC), the parties informed the Supreme Court (SC) on Monday. Both the parties have also been directed by Chief Justice of India (CJI) NV Ramana to file a joint memo in the Supreme Court on Tuesday with regards to this. Read here

Future Enterprises: Debt-ridden Future Enterprises Ltd (FEL) on Monday said two independent directors — Anand Chandrasekaran and Malini Chopra — have resigned from the board of the company. Both of them cited an increase of workload as among the reasons for their resignations, which is effective from Monday. Read here

Zomato: Competition Commission on Monday ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners. Read more

SBI Card and Payment Services: As per reports, private equity firm Carlyle Group will sell its entire stake in the company for as much as Rs 2,558 crore. CA Rover Holdings, a Carlyle entity which, as of December 2021 quarter, held 29.20 million shares or 3.09 percent stake in SBI Cards, will sell its entire stake through a block trade. The shares are being offered at Rs 851.50-876.75 a piece, representing around 3 percent discount to the current market price.

Mindtree: To consider declaration of final dividend on April 18.

Moil: The company recorded a turnover of Rs 1,436 crore in FY22, a growth of 22 per cent over the previous fiscal. That’s marginally lower than the highest-ever turnover of Rs 1,441 crore in FY19.

3i Infotech: The company has secured a cloud transformation deal for its NuRe platform, from one of the large commercial banks in the Asia-Pacific region. Deal size is approximately Rs 6.04 crore.

Emami Realty: India Ratings and Research has assigned and upgraded the credit rating of the company’s long-term bank facilities at ‘A-‘/Stable.

IRB Infrastructure Developers: The project of eight lane Vadodara Kim Expressway in Gujarat under NHDP Phase – VI on Hybrid Annuity Mode implemented by its subsidiary has received a Provisional Certificate from the competent authority. Accordingly, the SPV is eligible for receipt of Bi-annually annuity payments from NHAI for the operation period of 15 years.

Hindustan Zinc: The company announced the highest-ever mined metal production for Q4FY22 of 2.95 lakh tonnes since UG transition, up 17 percent compared to Q3FY22, and up 3 percent compared to Q4FY21. Highest ore production was supported by better mining grades. Refined metal production at 2.6 lakh tons in Q4FY22 grew by 2 percent YoY but was flat sequentially.

BEML: The state-owned entity achieved all-time record revenue from operations of over Rs 4,000 crore for financial year 2021-22.

Glenmark Pharma: The company said that its board has approved repurchase of an aggregate principal amount of $75 million of bonds due in 2022 by way of on market purchases at an early redemption amount plus accrued and unpaid interest.

IndusInd Bank: The private sector lender said net advances of Rs 2.39 lakh crore at the end of March 2022 quarter grew by 13 percent compared to year-ago period and up 5 percent compared to previous quarter. Deposits increased by 15 percent YoY and 3 percent QoQ to Rs 2.93 lakh crore in Q4FY22.

Max Healthcare Institute: SBI Funds Management has acquired more than 1 crore equity shares in the company through open market transactions on March 31. With this, its shareholding in the company stands at 9.22 percent, up from 8.19 percent earlier.


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