Keep your eyes glued on these eight stocks on Thursday!
Ashok Leyland: Ashok Leyland showcases future-readiness through Switch Mobility, which is the next-generation electric bus & light commercial vehicle company, and also a subsidiary of Ashok Leyland. It had recently announced strategic steps to further solidify its progress towards developing net zero-carbon mobility.
ABB: The company’s total orders for the quarter were at Rs 1,689 crore as compared to Rs 1,200 crore in Q2 2020, a growth of 41 per cent. The month of June witnessed a gradual bounce back in orders by most businesses despite various state-level lockdowns in the first two months of the quarter. There was a marginal dip in orders sequentially with businesses impacted by localised impact of the second wave.
KDDL: Consolidated shareholding of KDDL Limited (directly & indirectly via its subsidiary, Mahen Distribution Limited) in Ethos Limited has increased from 76.45 per cent to 77 per cent.
Tata Coffee: The company’s standalone total income jumped 13 per cent YoY in Q1FY22 to Rs 203 crore amid increased revenues from value-added business, despite being impacted by logistics issues and continued pandemic restrictions in certain markets. The above total income includes dividends received from an overseas subsidiary of Rs 18 crore, against 'nil' in the corresponding quarter of the previous year. Meanwhile, the instant coffee business registered substantially higher export volumes and turnover. However, near-term volume and pricing pressures on instant coffee business continued on lower short-term demand with 'out-of-home' channels impacted across the globe due to the pandemic along with continued inflationary impacts on input costs & freight costs. However, the focus on internal operating efficiencies continued.
SJVN: CRISIL Ratings Limited and India Ratings & Research have assigned ‘ICRA A1+’ and ‘IND A1+’ rating, respectively to the company’s proposed issue of commercial papers programme.
SRF: The consolidated revenue of the company grew 75 per cent from Rs 1,545 crore to Rs 2,699 crore in Q1FY22. PAT grew by 123 per cent from Rs 177 crore to Rs 395 crore in Q1FY22. The board has approved a project for integrated expansion of fluorocarbon-based refrigerant capacity at Dahej at a projected cost of Rs 550 crore to meet the growing demand for refrigerants in the domestic as well as exports market and is expected to be completed in 24 months. To cater to the growing power requirements of new & upcoming plants at Dahej, the board has approved the installation of a 200 KV grid at a projected cost of Rs 135 crore.
Infosys: Infosys unveils product-centric value delivery model using agile and DevOps to strengthen customer centricity as well as accelerate business outcomes.
Rupa: National Company Law Tribunal (NCLT) has sanctioned approval for the scheme of arrangement between Oban Fashions Private Limited (demerged company) and Rupa & Company (resulting company).