Stocks in Focus on April 23: Vodafone Idea, KNR Constructions to Welspun Corp; here are expected 5 Newsmakers of the Day
Stocks in Focus on April 23: Reliance Industries Infrastructuer, Vodafone Idea, KNR Constructions, Welspun Corp and Tanla Solutions are expecrted five newsmakers throughout the intraday trade session.
Stocks in Focus on April 23: Benchmark domestic share indices surged more than two per cent amid positive global cues on Wednesday, April 22, 2020. The 30-share index, Sensex, ended 743 points, or 2.42 per cent, up at 30,380. Similarly, the Nifty-50 settled with a gain of 206 points, or 2.29 per cent, at 9,187. But certain stocks came in news after the market was closed and can impact the indices when it reopens on Thursday, April 23, 2020. List of such five stocks:
RIIL: Reliance Industrial Infrastructure Ltd (RIIL) on Wednesday reported a rise of 19.1 per cent in its consolidated net profit for the fourth quarter (Q4) of the financial year 2019-20. The company's net profit during the quarter under review increased to Rs 2.68 crore from Rs 2.25 crore in the corresponding period of the previous fiscal. However, the company’s revenue dropped by 7.2% to Rs 19.4 crore from Rs 20.9 crore on year-on-year (YoY) basis.
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Vodafone Idea: The UK-based telecom major Vodafone Group plc has infused Rs 1,530 crore (or $200 million) into debt-ridden Vodafone Idea to support managing operations amid the coronavirus crisis. The payment will also help Vodafone Idea pay statutory dues to the government. "It has accelerated payment of $ 200 million to Vodafone Idea, which was due in September 2020, under the terms of the contingent liability mechanism with Vodafone Idea," the London-headquartered company said in a press release on Wednesday.
KNR Constructions: The Company's SPVs (Special Purpose Vehicles) has re-commenced the collection of user fee (toll) on all the NHAI projects.
Tanla Solutions: The Company’s board on Wednesday approved a proposal to buy back shares worth up to Rs 154 crore. In a regulatory filing, Tanla Solutions said 1.90 crore equity shares will be bought back under the offer for Rs 81 per share.
Welspun Corporation: Welspun on Wednesday said that company has partially resumed production from its pipe facilities at Jamunia, Near Bhopal (Madhya Pradesh), with full compliance to the safety conditions of operation, as stipulated in the administrative permission received w.r.t. COVID-19.
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