Stocks news that you should not miss today!

Wipro: As a part of the recently announced acquisition of Ensono by KKR, Wipro has sold its entire stake in Ensono Holdings, LLC for a consideration of US$ 76.24 million. Consequent to the sale, Wipro now does not hold any stake in Ensono Holdings, LLC.     

HDFC Bank: Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 10 crore on the bank.    

Punjab National Bank: The bank intends to divest its stake in Canara HSBC OBC Life Insurance Co. Ltd, an associate company of the bank, at an appropriate time, depending upon the market conditions & available options.   

Metropolis: The acquisition of Dr Ganesan’s Hitech Diagnostic Centre Pvt Ltd has got delayed.   

Vakrangee: The company has launched a comprehensive COVID care plan in partnership with vHealth by Aetna, a CVS Pharmacy Group Company – Fortune 500 Company. The 'comprehensive COVID care package' includes various tests & consultations, which can be used to determine if a patient is likely to have a COVID infection. It includes key features such as home collection of COVID-19 RT-PCR test as well as COVID monitor test facility.    

Power Grid: The Ministry of Power, Government of India transferred the prestigious 220 kV Srinagar-Drass-Kargil-Khaltsi-Leh Transmission System to Power Grid Corporation of India.   

Karur Vysya Bank: Credit growth during the year was higher at 8.87 per cent YoY (Rs 4,304 crore), which resulted from improved off-take in retail & business segment, as well as higher growth, witnessed in the jewel loan portfolio, backed by digital processing and improved sourcing of loans via various channels. Net NPA improved by 51 bps and dropped to 3.41 per cent as on March 31, 2021, from 3.92 per cent a year ago, backed by consistent follow-up and recovery measures. 

Genus Power Infrastructures: Order inflow has been subdued on account of COVID-19 pandemic-led disruptions. The company’s order book stood at Rs 931 crore (net of tax). Joint Managing Director of the company, Jitendra Kumar Agarwal said, “The credit profiles of DISCOMs continue to remain stressed due to a higher level of aggregate technical & commercial (AT&C) losses, inadequate tariffs in relation to their cost of supply, and inadequate subsidy support from the respective state governments. Total outstanding dues of the DISCOMs towards power generating firms stood at over Rs 1.35 lakh crore as of December 2020. Such high level of liabilities is unsustainable for DISCOMs and adhering to the power sector reform measures being undertaken by the central government has become a must.”  

Cadila Healthcare: Zydus Cadila receives final approval from USFDA for Fluphenazine Hydrochloride tablets.  

Kaveri Seeds: Net profit for FY 2021 went up by 19.74 per cent at Rs 311.20 crore. Kaveri Seed Company becomes the first seed producer in India with more than one lakh acres under seed production.   

Neogen Chemicals: Brownfield expansion (Phase I) will start contributing to revenue from Q2 FY22 while Rs 450 crore revenue guidance for FY22 remains unchanged.       

TCPL: Revenue from operations increases by 15.6 per cent to Rs 247.2 crore from Rs 213.8 crore while EBITDA grew by 26.8 per cent to Rs 36 crore compared to Rs 28.4 crore. EBIDTA margins stood at 14.6 per cent compared to 13.3 per cent, up by 130 bps. PBT improves by 140.7 per cent to Rs 14.9 crore from Rs 6.2 crore.    

OnMobile: OnMobile, the global leader in mobile entertainment has launched a new B2B gaming product, Challenges Arena, a single destination of casual challenges that provides an unparalleled gamified experience.    

Phoenix Mills: The company collaborated with CPP Investments to develop a regional retail centre in Alipore (Kolkata).    

Affle: Affle delivered broad-based growth from both existing as well as new customers across the top 10 resilient industry verticals. This was contributed by consistent growth in advertiser spends across India & other emerging markets.   

Nazara Technologies: The company delivers 84 per cent revenue growth and 508 per cent EBIDTA growth YoY, resulting in healthy net profit after tax & strong operating cash flows.    

V-Mart: Q4 witnessed a renewed customer demand on the back of improved customer footfalls and strong pent-up demand coming in for new summer season fashion and saw a YoY recovery of 106 per cent with an income of Rs 356 crore. While the overall footfalls in the quarter remained low at 88 per cent YoY, an increase of 8 per cent in basket size and higher customer conversions helped improve the topline. Improvements in inventory freshness and better full-price sales helped deliver a relatively better EBITDA growth of 21 per cent YoY for the quarter.   

Prataap Snacks: MD of the company said, “The results are evident as we have reported revenues in the fourth quarter that are nearly at the same level as last year, despite the continued closure of schools and negligible travel activities. Faced with margin pressure, we have undertaken cost rationalisation initiatives and process efficiencies even as we accelerated structural improvements through a compressed distribution structure.”   

GMM Pfaudler: The company announces its annual results with revenue growth of 28 per cent, EBITDA growth of 50 per cent, and PAT growth of 48 per cent. These results are of GMMP after excluding Pfaudler International (PFI) performance for the period of 2 months (February & March 2021) for comparable purposes.    

Walchandnagar Industries: The company has entered into a licensing agreement for the transfer of technology (LAToT) with Defence Bioengineering & Electromedical Laboratory (DEBEL) and Defence Research & Development Organisation (DRDO) for manufacturing and supply of medical oxygen plant.