As the week begins on a negative note, these three stocks witness positive action!
Equitas Holdings Ltd, HCL Technologies Ltd and HIL Ltd are today’s mid-day movers.
The Indian markets tumbled as Asian stocks plummeted on worries related to the lockdown in Shanghai which might adversely impact global growth. The rupee fell to an all-time low of 77.42 against the US dollar. At 1 pm, the S&P BSE Sensex is at 54,590.34 witnessing a 0.45 per cent decline. These stocks are gaining as a new trading week begins!
Equitas Holdings is engaged in a non-deposit taking Systemically Important Core Investment Company, from the Reserve Bank of India (RBI) to carry on the business as a Non-Banking Financial Institution. On Friday the company announced that the RBI has conveyed its no-objection to our proposal for voluntary amalgamation of Equitas Holdings Ltd with Equitas Small Finance Bank. At 1 pm, the stock has jumped 2.80 per cent and the scrip is currently trading at Rs 110.30.
HCL Technologies UK Limited, a wholly-owned subsidiary of HCL Technologies (HCL), a leading global IT services company, has signed a definitive agreement for the acquisition of Confinale AG, a Switzerland-based digital banking and wealth management consulting specialist and Avaloq Premium Implementation Partner. Through this strategic acquisition, HCL will increase its footprint in the global wealth management market with emphasis on Avaloq consulting, implementation and management capabilities. At 1 pm, the stock rallied 2.20 per cent and the scrip is currently trading at Rs 1073.30.
HIL Ltd is one of the leading companies in the building materials and construction industry with a robust product pipeline and wide range. On a consolidated basis, the Quarterly Results were that the company reported a loss in its net profit at Rs 51 crore as compared to Rs 63 crore for the same quarter in the previous year. But the company posted a surge in revenue at Rs 949 crore for Q4FY22 as compared to Rs 844 crore for the corresponding quarter of the previous year. At 1 pm, the stock surged 7.97 per cent and the scrip is currently trading at Rs 3922.50.